(Finance) – UniCredit start one today new bond directly negotiable on the MOT and Bond-X market of the Italian Stock Exchange. The new issue is described as “an innovation on the market regarding emissions directly on the secondary market”: in fact it provides for a expires in 13 years (11 March 2037), does not provide for the possibility of early redemption at the discretion of the issuer and pay a single coupon when it expiresequal to 59.80% gross (which therefore corresponds to a fixed annual gross rate of 4.60%).
Furthermore, from 11 to 22 March, based on market conditions and in line with the regulations of the reference market, the bond will be offered on the MOT and Bond-X market at a price equal to 100% of the issue price. Bond prices are at the flat rate plus the accrued interest accrued dailytherefore investors who sell the securities before maturity will collect the accumulated accrual.
The nominal value andminimum investment are equal to 10,000 euros. Liquidity on the market is guaranteed by UniCredit Bank GmbH and it will therefore be possible to resell the bond before its natural maturity. The redemption value at maturity is equal to 100% of the nominal value, while during the life of the bond the price will follow market conditions and may be different from the nominal value.
The issue announced today by UniCredit is the third in direct negotiation in 2024; it follows the issue of a 10-year callable step down in January and a 13-year fix to floater in February, which saw a stock market value of more than 80 million euros in the first two weeks.