ISSUER
Name
Republic of Italy
INSTRUMENT
ISIN Code
IT0005012783
Interest Commencement Date
04/23/2014
Issue Type
Government Bonds
First Coupon Date
10/23/2014
Guarantor
-
Maturity Date
04/23/2020
Coupon Frequency
Semiannual
Outstanding
20,564,569,000
Specialists
-
Redemption
Redemption at the nominal (face) value (therefore non-revalued).
The principal revaluation is paid semi-annually, on the basis of the FOI ex-tobacco index, applied to the nominal principal purchased; it is paid together with the semi-annual coupon.
PRODUCT CHARACTERISTICS
The security provide investors with the protection against an increase in the level of prices in Italy: both the coupons, which are equal to 1.65% and payable on
October and April 23rd of each year until maturity, and the principal, the revaluation of which is also paid semi-annually, are indexed to the Italian inflation, as measured by ISTAT – the Italian National Bureau of Statistics - through the FOI national index, “Prezzi al consumo per le famiglie di operai e impiegati”, with the exclusion of tobacco products.
Investors that are physical persons and hold the instruments until the maturity will receive a premium by the MEF equal to a 0.4 per cent on a pre-tax basis on the non-revalued principal nominal amount purchased during the placement period.
PLACEMENT PERIOD
Placement Period: from the 14th (included) to the 17th of April 2014 (included)
Settlement date for trades executed during the Placement Period: 23rd April 2014
Dealers selected by MEF for bond placement: Banca IMI S.p.A. and UniCredit S.p.A..
Fixed price for trades executed during the Placement Period (Issue price): 100
Orders that can be entered during the Placement Period by the Market participants: buy orders only; 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
Placement methods: continuous trading phase only 9.00-17.30 (no opening auction phase)
Minimum lot purchasable: 1,000 Euro
TRADING CHARACTERISTICS
Denomination
BTP ITALIA AP20 EUR
Market
MOT - DomesticMOT
Bond Pricing
Clean
Minimum Trading Lot
1,000
DISCLAIMER
Trading Hours
8:00 - 9:00 opening auction
9:00 - 17:30 continous trading
Day Count Convention
ACT/ACT on a period basis
Type of Structure
Inflation linked
Instrument ID
758627
Clearing / Settlement
CC&G / Monte Titoli
Trading / Settlement Currency
EUR / EUR
First Day of Trading
04/23/2013
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Last update as of 04/23/2014