Overview
- The Treasury announced a preliminary minimum guaranteed fixed annual rate of 1.6% on Friday, June 12, and will offer the bond to retail investors during a placement running June 15–19 with the final fixed rate to be confirmed at the end of the week.
- Coupons will be paid every six months by adding the inflation rate measured by ISTAT’s FOI index to the fixed base, and the fixed component is guaranteed even if prices fall.
- Buyers during the placement who hold to maturity will receive a 0.6% loyalty premium, the bond is sold at par with a €1,000 minimum lot and no commission during the offering.
- The issue will be traded on Borsa Italiana’s MOT, carries ISIN IT0005713539, has settlement and start of interest (godimento) on June 23, 2026 and matures on June 23, 2031, with Intesa Sanpaolo and UniCredit as dealers and MPS and Banco BPM as co‑dealers.
- The bond keeps the favourable 12.5% tax rate for government securities and exemption from inheritance tax, a combination that could make it attractive to households seeking inflation protection and may shift some household savings toward state debt.