Stabilisation Notice

Summary by AI ^BETAClose X

J.P. Morgan SE announced on September 3, 2025, that no stabilisation was undertaken regarding the Republic of Italy's recent securities offering. The offering included 7-year EUR fixed rate notes due November 15, 2032, with a 3.25% coupon, and 30-year EUR fixed rate notes due October 1, 2055, carrying a 4.65% coupon. The aggregate nominal amount for the 7-year notes was EUR 13 billion, while the 30-year notes totaled EUR 5 billion. The offer price for the 7-year notes was 99.667, and the 30-year notes were offered at 99.560. The notes are listed on Borsa Italiana S.p.A. (M.O.T.) and also trade on MTS.

Disclaimer*

J.P. Morgan SE

03 September 2025

03/09/2025

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Republic of Italy

Post-stabilisation Period Announcement

Further to the pre-stabilisation period announcement dated 02/09/2025, J.P. Morgan SE, (Matthieu Batard, contact: +33 1 40 15 43 00) hereby gives notice that no stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014) or the rules of the Financial Conduct Authority) was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.

Issuer:	Republic of Italy
Guarantor (if any):	N/A
Aggregate nominal amount:	7Y: EUR 13bn \| 30Y: EUR 5bn
Description:	7Y: EUR fixed rate notes due 15Nov2032. Coupon 3.25%. 30Y: EUR fixed rate notes due 01Oct20255. Coupon 4.65%. All tranches listed on the following stock exchanges: Borsa Italiana S.p.A. (M.O.T.) (Regulated Market), also trading on MTS
Stabilisation Manager(s):	J.P. Morgan SE (as Stabilisation Coordinator) BBVA / Citi/ Deutsche Bank (B&D/DM) / Morgan Stanley / Nomura
Offer price:	7Y: 99.667 30Y: 99.560

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction

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