Cassa di Risparmio Bond issues

Our bonds are a versatile product, differing in duration, type of interest rate and coupon payment periodicity.

Current emissions

Bond issues is a debt security acquired by the issuing party (Cassa di Risparmio) from the holder: depending on the various conditions established prior to subscription, the issuing party must pay the holder interest (coupons) and later, at maturity, repay the capital that has been paid to it. The nature, duration and interest rate of the bond are fixed in the ‘final terms’ of each issue.

Fixed-rate bonds: the interest rate remains constant throughout the life of the bond; if market interest rates change, the price of the bond is adjusted to market conditions. This is the recommended solution for investors who believe that interest rates will remain stable or fall.

Floating rate bonds: the interest rate is linked to a variable parameter and is adjusted periodically to any changes. This is an attractive investment for those who expect interest rates to rise.

Structured bonds: the interest rate depends directly on the development of a specific parameter (usually stock market or monetary indices or indices linked to the development of commodity prices); the yield depends on the development of an underlying asset. Recommended solution for investors who do not want to invest directly in the assets covered by the bond but who want to profit at least in part from their possible positive development.

Theme Bonds: On certain occasions, the Sparkasse issues special bonds with a topical theme. For investors who want to try out something special.