The Ministry of Economy announced guaranteed minimum coupon rates of third issue of the BTP Futura, which will take place from Monday 19 April to Friday 23 April, unless closed early. Here they are:
- 0,75% from the 1st to the 4th year;
- 1,20% from the 5th to the 8th year; 1,65% from the 9th to the 12th year;
- 2% from the 13th to the 16th year.
The definitive coupon rates – specifies the MEF press release – will be announced at the close of the placement and cannot in any case be lower than the minimum guaranteed coupon rates indicated above. In particular, the fixed coupon rate for the first 4 years of the security's life will remain unchanged, while based on market conditions, only the coupon rates relating to the next three four-year terms may be revised upwards.
The third issue of the BTP Futura will be entirely dedicated to financing the anti-Covid 19 vaccination campaign and the measures aimed at the post-pandemic economic recovery.
the BTP Futura has six-monthly nominal coupons calculated on the basis of fixed rates that increase over time. The security will also have a 16-year maturity and a double loyalty bonus is envisaged: at the end of the first eight years of the security's life, the investor who has held the BTP Futura since the issue will be entitled to an intermediate premium equal to 40% the average nominal GDP growth rate recorded by ISTAT in the first eight years of the bond's life, with a minimum of 0,4% of invested capital, up to a maximum of 1,2%.
At the final maturity (after the following eight years), investors who have continued to hold the bond continuously until maturity will be paid a final premium which will include two components: the first equal to the remaining 60% of the average GDP growth rate recorded in the first eight years of the share, with a minimum of 0,6% up to a maximum of 1,8%; the second equal to 100% of the average GDP growth rate recorded by ISTAT from the ninth to the sixteenth year, with a minimum of 1% and a maximum of 3% of invested capital.
Based on the Economics and Finance document Approved by the government on Thursday 15 April, forecasted growth for 2021 is +4,5% this year, and then +4,8% in 2022, +2,6% in 2023 and +1,8% in 2024.
The following everything you need to know about the Btp Futura explained on SaveMoney by journalist Patrizia Puliafito and by Edmond de Rothschild's financial advisor, Angelo Drusiani:
