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These 5 % BTPs were multi-year bonds, meaning they had a duration of several years. They offered a fixed interest rate of 5% and could be held in bearer form.
The title of these BTPs featured a design taken from the painting by Gianbattista Tiepolo (1696-1770) entitled 'Neptune Offers Gifts to Venice'. Gianbattista Tiepolo was a famous Venetian painter known for his Baroque works of art. The image depicted Neptune, the god of the sea, offering gifts to the city of Venice. This choice was a tribute to the importance of Venice as a maritime and cultural centre.
The bearer bonds of these BTPs had denominations ranging from 5,000 to 100,000 Italian lire (before the introduction of the euro). Smaller denominations, such as 5,000 lira, were an affordable option for investors with limited financial means, while larger denominations, such as 100,000 lira, were suitable for investors with greater investment capacity.
Please note that the information provided refers specifically to 5 per cent bearer multi-year BTPs issued under Law No. 421 of 30 June 1959 and the Ministerial Decree of 2 July 1959. The characteristics of current BTPs may differ due to evolving financial regulations and the issuance policies adopted by the Italian State.
