June 30, 2020 | Cbonds
BTP Futura has step-up semi-annual coupons and final bonus.
Upon maturity (July 2030), the issuer will consider a Bonus Payment to whoever purchases the BTPs Futura during the placement period and holds them until maturity. A final bonus equals to the average nominal GDP annual growth rate over the bond life.
In order to simplify the entitlement to receive the Bonus Payment, a "special" ISIN code will be assigned to BTP Futura together with a regular ISIN code.
The "special" ISIN code will be replaced by the regular ISIN code at the time of any sale of the bond in the secondary market starting from the settlement date. Only investors of the bonds identified by the "special" ISIN code will be entitled to receive the bonus payment at the maturity date.