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BTP Futura - Third Issue

Distribution

Distribution Period: from Monday, April the 19th until Friday, April the 23rd 2021 (until 13.00), with one phase (which may be reduced in the case of early closure) will be reserved to individual investors and other entities with the same nature.
Settlement date for trades executed during the Placement Period: 27 April 2021
Dealers selected by the Issuer for the distribution: Unicredit S.p.A. and Intesa Sanpaolo S.p.A.
Fixed price for trades executed during the Placement Period (Issue price): 100%
Coupon: the coupons will be set on the basis of a preset path of increasing rates over time ("step-up" mechanism).
Placement methods: continuous trading phase only from 9.00 till 17.30 (no opening auction phase) ending at 13.00 on the fifth day of distribution, except for early closure.
Premium divided into two tranche: investors who purchased the bond at issuance will receive, at the end of the eighth year, a first tranche of the final bonus for a minimum of 0.4% and a maximum of 1.2% of the invested capital, based on the average annual variation of the Italian nominal GDP over the first eight years. At final maturity, investors who purchased the bond during the placement period and hold it until that point, will receive the second tranche of final bonus, that will be made of two components: the first one is calculated on the basis of the average annual variation of the Italian nominal GDP over the first eight years, with a minimum of 0.6% and a maximum of 1.8% of the invested capital; the second one, with a guaranteed minimum of 1% and a maximum of 3% of the invested capital, will reflect the average annual variation of the Italian nominal GDP during the last eight years, hence from the ninth year of the bond’s life until its final maturity.
Orders that can be entered during the Placement Period by the Market partecipants: buy orders only. First Phase: market orders or limit orders at Issue price only. Validity types: Fill-or-Kill (FOK), Immediate or Cancel (IOC) or DAY only. Limit orders with the DAY time in force will remain into the book also in the case of temporary absence of the Dealers.
Minimum lot purchasable: 1,000 Eur.

Please download:
- the Public Notice regarding the Distribution Phase;
- the Public Notice with the guaranteed minimum annual coupon rates;
- the Public Notice with the Issue Decree;
- the Public Notice for the start of trading.

Please download the MEF press release, Termsheet of the Third Issuance and the Information for the market participants.

For more details please visit MEF website.