Overview

• Individual savers can subscribe to the seven-year inflation-linked bond through May 29 before institutional investors join on May 30 when the final yield will be set.
• The offering guarantees a minimum real annual coupon of 1.85% with inflation adjustments and includes a 1% loyalty premium for holders through its June 4, 2032 maturity.
• Interest payments are subject to a 12.5% tax rate and investors can exclude up to €50,000 of Btp Italia holdings from their ISEE calculations.
• Moody’s upgrade to a positive outlook and a Btp-Bund spread trading below 100 basis points have supported renewed demand from domestic savers and foreign funds.
• The bond’s indexation to the Istat Foi inflation rate addresses concerns over potential price volatility linked to global trade tensions.