Overview
- Subscription runs March 2–6 on Borsa Italiana’s MOT, with potential early closing and a 13:00 cutoff on the final day.
- The six-year bond pays quarterly, increasing step-up coupons structured over 2+2+2 years.
- Buyers who purchase during the placement and hold to maturity receive a 0.8% loyalty premium on nominal capital.
- Retail investors can subscribe via enabled home banking, bank branches or post offices from €1,000 at par without placement commissions, with 12.5% taxation on coupons and the premium, inheritance-tax exemption and ISEE exclusion up to €50,000.
- Minimum coupon floors and the ISIN will be published on February 27, and the MEF may confirm or raise the rates after the placement depending on market conditions; placement dealers are Intesa Sanpaolo, UniCredit and Banco BPM with Banca Monte dei Paschi di Siena and ICCREA Banca as co-dealers.