Issue Of Buoni Del Tesoro Poliennali, Inflazioneitaliana, April 20, 2015 Enjoyment And Indexed To Expire April 20, 2023.

Original Language Title: Emissione di buoni del Tesoro poliennali, indicizzati all'inflazioneitaliana, con godimento 20 aprile 2015 e scadenza 20 aprile 2023.

Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-04-15&atto.codiceRedazionale=15A02877&elenco30giorni=false&atto.tipoProvvedimento=DECRETO

The DIRECTOR GENERAL of the TREASURY Viewed the Decree of the President of the Republic December 30, 2003, # 398 on the consolidated text of laws and regulations relating to public debt, and, in particular, article. 3, where it is expected that the Minister of finance is authorized, in each financial year, to issue decrees that allow Treasure frame, among other things, borrowing operations domestically or abroad in the forms of financial products and instruments in the short, medium and long term, indicating the nominal amount, the interest rate or the criteria for determination minimum subscription amount, duration, and any other feature placement system and method; Having regard to the Ministerial Decree No. 97587 of December 23, 2014, issued pursuant to art. 3 of the aforementioned Decree of the President of the Republic No. 398 of 2003, where you define financial goals for the year 2015, the limits and the methods which the Treasury Department must follow in making financial transactions referred to in that article predicting that the operations themselves are arranged by the Director General of the Treasury or his delegate, the Director of the second of the Department; View the determination # 100,215 of December 20, 2012, by which the Director General of the Treasury has delegated the Director according to the Treasury Department to sign the decrees and acts relating to the operations; Visas, also articles 4 and 11 of Decree of the President of the Republic no repeating. 398 of 2003, regarding the dematerialization of securities; Having regard to the Ministerial Decree of April 17, 2000, n. 143, published in the Official Gazette No. 130 of June 6, 2000, with which it was adopted the regulation concerning the discipline of central depository of securities; Seen August 23, 2000 Decree, published in the Official Journal No 1 September 2000, 204 of which was entrusted to Monte Titoli S.p.A. the service of central depository of securities; Having regard to the Legislative Decree of April 12, 2006, n. 163, bearing the "code of public contracts for works, services and supplies in implementation of directives 2004/17/EC and 2004/18/EC", and in particular art. 19, paragraph 1, point d) where it is established that the provisions of the code shall not apply to contracts relating to financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments; Having regard to the rules of the markets organized and managed by Borsa Italiana S.p.A., as amended by resolution of the Assembly of the Italian stock exchange of November 7, 2014 and approved by CONSOB resolution No. 19101 of January 14, 2015; Having regard to the Ministerial Decree No. 43044 of May 5, 2004, published in the Gazzetta Ufficiale della Repubblica Italiana n. 111 of May 13, 2004, laying down rules in case of delay in the settlement of transactions, swap transactions and repurchase of bonds; Having regard to the Ministerial Decree No. 96717 of December 7, 2012, published in the Gazzetta Ufficiale della Repubblica Italiana n. 294 of December 18, 2012 on the introduction of collective action clauses (CACs) in government securities; Having regard to the Ministerial Decree No. 3088 of January 15, 2015, published in Official Gazette No. 13 of January 17, 2015, establishing rules for transparency in government securities placement transactions; Having regard to law no 191 December 23, 2014 on the approval of the budget for the fiscal year 2015, and in particular the third paragraph of art. 2, with whom he established the maximum emission of public borrowing for the year; Given that the emission amount willing to all the April 9, 2015 amounts, net of repayments already made public, to 63431 million and taking into account the reimbursements still to be carried out; Considered it appropriate to have an issue of buoni del Tesoro poliennali April 20, 2015 enjoyment and inflation-linked Italian deadline April 20, 2023, indexed, in capital and interests, the national consumer price index trend in net for tobacco workers and employees (the "FOI without tobacco") published by ISTAT, to be offered via the electronic Bond Market-MOT directed by Borsa Italiana S.p.A.; Given the chance to entrust the management of the collection of acceptances to the offer of those good at Banca IMI S.p.A. and UniCredit S.p.A., as well as ICCREA Banca S.p.A. and in Method Investments & Advisory Ltd with to assist these banks in transactions; Given that the supply of such good will happen according to the "Information Memorandum" of April 10, 2015;
Decrees: Art. 1 under and for the purposes of art. 3 of the Decree of the President of the Republic December 30, 2003, n. 398, as well as of the Ministerial Decree n. 97587 of December 23, 2014, both mentioned in the introduction, it is an issue of buoni del Tesoro poliennali indexed to index "FOI without tobacco" (hereinafter: "BTP Italy"), to whose premises, with the following characteristics: minimal amount: 1000 million;
effective date: April 20, 2015;
deadline: April 20, 2023;
interests: indexed to the performance of the index "FOI without tobacco," according to the provisions of art. 4 of this Decree, and payable in two semestralita ' 20 October and 20 postponed the April each year of duration of the loan;
amounts of capital appreciation: calculated on the basis of the performance of the index "FOI without tobacco" in accordance with the provisions of art. 4 of this Decree; capital appreciation amounts are paid in two semestralita ' 20 October and 20 postponed the April each year of duration of the loan matured in each semester;
annual real coupon rate: to be determined in relation to the market conditions of the day April 16, 2015 with the decree that afterwards, and in any case not less than 0.50%;
issue price: 100%;
denomination: 1000 euro;
Regulation: April 20, 2015. Under the Ministerial Decree dated December 7, 2012, cited in the introduction, these securities are subject to the collective action clauses referred to "common terms of reference annexed to the Decree (Annex A). The nominal capital will be repaid in a single payment at maturity, not evaluated at nominal value. The Ministry of economy and finance will proceed to the offer of "Italy" BTP in conformity and according to the methods described in the "Information Memorandum" of April 10, 2015, quoted in the introduction. The placement period will be divided into two separate phases, one on days 13, 14 and April 15, 2015 unless early closing (the "first stage") and the other on April 16, 2015 (the "second phase"), to whom it is to be allowed to participate in two distinct and complementary groups of subjects. In particular, in the first phase the categories of eligible investors are individuals still classified and other retail (excluding eligible counterparties and professional clients of law), as well as intermediaries that lend an individual portfolio management service and fiduciary companies participating in the first phase on behalf of persons admitted to this same first phase as identified in section "distribution and secondary market" of that "Information Memorandum" of April 10, 2015, while the second phase will be able to participate in all and only the subjects not admitted in the first phase of deployment, as identified in the same section of the same "Information Memorandum". The issue will be completed with subsequent Decree, to be issued at the end of the placement, which will determine the amount of the securities issued and will set the size of annual real coupon rate, based on the market at the close of the same period. To those who have purchased "BTP Italy" during the first phase of the placement period, being in possession of the necessary requisites for participating in the same phase, and they held continuously until the expiration date will be paid a "loyalty Award" equal to 0.40% of nominal capital not re-evaluated by such securities.