BTP Futura - Second Issue
Distribution
- Distribution Period: from Monday, November the 9th until Friday, November the 13th 2020 (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: 17 November 2020
- 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: the final bonus, paid only to investors who purchase the bond at issuance and hold it until its final maturity, will be set equal to the average nominal GDP annual growth rate over the bond life as registered by ISTAT (the National Bureau of Statistics) with a 1% floor and 3% cap.
- 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 Second Issuance and the Information for the market participants.
For more details please visit MEF website.