New BTP value, special issue in May: duration, coupons, yields and final premium


By John

The Ministry of Economy and Finance announces the fourth issue of the BTP Valore which will take place from Monday 6 May to Friday 10 May (until 1pm)unless early closure. This special issue offers the opportunity to invest in a highly successful instrument such as the BTP Valore, both to those who have not yet had the opportunity to subscribe to it in the previous placement, and to all small savers and similar to whom it is dedicated.

It will have a duration of six years, coupons paid every three months with pre-established and increasing returns over time based on a 3+3 year “step up” mechanism. The final extra premium will be equal to 0.8% for those who purchase it during the placement days and hold it until maturity.

The investment can start from a minimum of 1,000 euros, always having the certainty of having the requested amount subscribed. The security is purchased at par (price equal to 100) and without commissions during the placement days.

The minimum rates guaranteed in the first three years and in the following three years, together with the ISIN code that identifies the security, will be communicated on Friday 3 May.

As with previous issues, the BTP Valore can be purchased exclusively by small savers through their home banking, if enabled for online trading functions, or by contacting their contact person at the bank or post office where they have a current account with the securities deposit account.

The usual preferential taxation is provided for all government bonds at 12.5% ​​on coupons and loyalty bonus, the exemption from inheritance taxes, as well as – as provided for by the budget law for 2024 – the exclusion from the ISEE calculation until to 50,000 euros, upon completion of the implementation process of the measure.
Subscribers, as always, will be able to sell all or part of the security before its maturity, without constraints and at market conditions.

The placement will take place on the MOT platform (the electronic market for bonds and government securities of the Italian Stock Exchange) through two dealer banks: Intesa Sanpaolo SpA and UniCredit SpA

The official communications on the new issue of the BTP Valore, the FAQs, the information sheet and the Technical Note for operators will be made available on the MEF website ( and on the Treasury Department website in the Public Debt section (

For information you can write to the dedicated email address (email protected).