Business · Markets · 10 hrs ago
Italy sets minimum rates for two five-year BTP Valore bonds
Italy’s Treasury has set minimum rates for two five-year government bonds for individual savers.
The traditional BTP Valore pays interest every three months, at annual rates of 3.7% for the first two years, 4.1% for the next two and 4.7% in the fifth year.
BTP Valore Insieme instead pays one 22.25% coupon at the end of five years, along with the return of the invested capital.
The offer runs from 19 to 23 October and may close early; the Treasury can raise the announced rates when the offer ends, but not lower them.
Savers can buy either bond or both, with a minimum investment of €1,000 in each, through an eligible online trading service, a bank or a post office.
The two bonds are designed to offer the same yield at launch, but differ in when interest is paid, and the single final coupon does not by itself mean a higher financial return.
Returns are taxed at 12.5%, and the bonds can be sold before maturity at market prices.
Italy’s Treasury set minimum guaranteed rates for two five-year BTP Valore bonds aimed at individual investors.
The traditional bond pays quarterly interest at annual rates of 3.7% for the first two years, 4.1% for years three and four, and 4.7% in the fifth year.
The new BTP Valore Insieme pays a single 22.25% coupon at the end of five years.
The rates may be revised upward, but not downward, when the offering ends.
The bonds are offered from October 19 to October 23, unless the sale closes early.
- Who
- Italy’s Ministry of Economy and Finance set the minimum rates for the bonds.
- What
- It announced minimum guaranteed rates for two five-year BTP Valore bonds for retail investors.
- When
- The rates were announced on October 16, 2026. The offering runs from October 19 to October 23, unless it closes early.
- Where
- Italy; the bonds will be sold through the MOT platform of Borsa Italiana, as well as through banks, post offices and eligible online trading.
- Why
- Not stated
This story does not have two clearly opposing sides.
Italy’s Ministry of Economy and Finance announced the minimum guaranteed rates for the two bonds.
The offering of the two five-year bonds is scheduled to begin.
The offering is scheduled to end at 13:00, unless it closes early.
- Traditional BTP Valore
- 3.70% in years 1–2; 4.10% in years 3–4; 4.70% in year 5
- BTP Valore Insieme
- 22.25% single coupon at the end of five years
- Minimum investment
- €1,000 for each bond
- Offering period
- October 19–23, 2026
- Rate adjustment
- Rates may be revised upward only at the end of the offering
4 sources
Btp Valore, offerta al via da lunedì: meglio “tradizionale” o con “maxi-cedola”? Ecco quanto possono rendere
Btp Valore, rendimenti fino al 3,7% oppure maxi cedola unica del 22,25%
Nuovi Btp Valore, per il titolo tradizionale cedole crescenti del 3,7%, 4,1% e 4,7%. Per il Btp Insieme cedolone unico del 22,25%
BTP Valore: fissati i tassi minimi garantiti del doppio collocamento retail al via lunedì 19 ottobre
What people are saying
Il Btp Valore Insieme è pensato per chi preferisce accantonare il proprio capitale e riceverlo, insieme all'intera remunerazione, alla scadenza dei cinque anni. A differenza del Btp Valore, che prevede cedole trimestrali crescenti, questo strumento riconosce un'unica cedola finale, il cui calcolo tiene conto del valore finanziario del tempo e dell'assenza di pagamenti periodici degli interessi
i due titoli hanno lo stesso rendimento all’emissione: cambia il momento in cui si ricevono gli interessi