The third issue of the BTp Futura will start next April 19th. This was announced by the Ministry of Economy, adding that the operation will continue until the following 23 April 2021 (until 1 pm), unless it is closed early. In line with the 2020 issues, the placement, the proceeds of which will be dedicated to financing the measures for the economic recovery from the Covid-19 pandemic and the expenses related to the vaccination campaign, will be reserved exclusively for private savers (the so-called retail market) and related. The security will have a longer duration, with a maturity of 16 years.
As for the previous BTp Futura, a loyalty bonus is envisaged, linked to the growth of the national economy during the life of the share, but unlike past issues, this will be paid in two installments paid at different times. In fact, in consideration of the longer duration, it is envisaged that at the end of the first eight years the investor who has held the security since the issue will be entitled to a first tranche of the loyalty bonus with a guaranteed minimum of 0.4% of the invested capital, up to a maximum of 1.2%, based on the average GDP growth rate recorded in the first 8 years of the share’s life.
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At the final maturity of the security (after the next eight years), only investors who have continued to hold the security without interruption from issue to maturity will be paid a second tranche which will include two components: the first always calculated on the basis at the average of the GDP growth rate recorded in the first eight years of the premium with a guaranteed minimum of 0.6% up to a maximum of 1.8%; the second calculated on the basis of the growth of the national economy from the ninth to the sixteenth year with a guaranteed minimum of 1% and a maximum of 3%.