The various BTP Valeurs issued by the Ministry of the Economy and Finance are medium-long term debt securities (bonds) with specific characteristics adapted to the particular needs of the saver. For example, I Construction Italy, first launched in 2012, have the particularity of offering an increasing return as the national inflation rate increases. The subscribed capital, being indexed to inflation measured by Istat, offers the investor protection against price increases.
THE BTP value they are different from other traditional government bonds because they are intended for the so-called retail market (retail) SO purchasable only by small savers: families, individual savers and similar with small investments. The placement of the first BTP Valore began on June 5, 2023, with a duration of 4 years, maturity 2027, with coupons – interest – paid semi-annually. The second issuance took place in October 2023 with a duration of five years and with quarterly coupons. The third issue, which can be purchased in February 2024 with a maturity in 2030, has a duration of six years and coupons paid quarterly. They can be purchased by subscribing to a bank or post office, or, if activated, through the channel home banking.
What makes BTP Valore attractive are the interests that grow over time, called mechanismintensify', with pre-established minimum returns. The minimum denomination for investing is 1,000 euros and the minimum interest rate, which is communicated before issuance, can only be revised upwards. It's expected A additional final loyalty bonus equal to 0.7% for those who purchase the security during the investment days and hold it until maturity. The issue price is equal to the nominal value of the security (i.e. 100 euros for each bond) without commissions on purchases during the training days.
The advantages for savers
For small savers, BTP Valore represents a defense against inflation and a safe piggy bank. Like all government bonds, they benefit from a preferential tax rate of 12.5%, favorable compared to other bonds which provide for a tax of 26%. These are investments considered low risk, easily accessible, liquid (immediately convertible into cash without capital loss) and with stable and predictable returns. The minimum return on BTP Valore issued in 2024 is 3.25% for the first three years and 4% for the following 3 years.
The effective success of Valore multi-year Treasury bonds is confirmed by the fact that Italian families increased their investments in these government bonds by 47.5% in 12 months. The figure save The reason for the sale is due to both the favorable conditions of the stock and confidence in the country's prospects. In order to further encourage purchases, the 2024 finance law provides for the exclusion of construction works for an amount of up to 50 thousand euros from the calculation of the ISEE, a provision which awaits the implementing decree.