By Laura Contemori – ROME (Econostream) – Italy’s Ministry of Economy and Finance (MEF) on Friday set the guaranteed minimum annual rate for the first issuance of the new BTP Italia Sì retail bond at 1.60%, plus the national inflation rate.

The five-year inflation-linked bond will be offered to retail investors from June 15 until 13:00 on June 19, unless closed early. The bond will mature on June 23, 2031, with settlement and accrual beginning on June 23, 2026.

MEF said the national inflation rate used to calculate coupons would be the FOI index excluding tobacco, which tracks consumer prices for blue- and white-collar households.

At the close of the placement, the guaranteed minimum annual rate may be confirmed or revised upward, depending on market conditions, MEF said.

Investors who buy the bond during the placement period and hold it continuously until final maturity will receive a final extra bonus equal to 0.6% of invested capital, MEF said.

The bond will be issued at par, with a minimum subscription amount of €1,000. Subscribed nominal capital is guaranteed at maturity.

MEF said the bond may be sold, entirely or in part, before maturity, without restrictions and at market conditions, in minimum nominal lots of €1,000.

The bond’s ISIN code is IT0005713539.

Dealers for the transaction are Intesa Sanpaolo and UniCredit, while Banca Monte dei Paschi di Siena and Banco BPM will act as co-dealers.