Intesa Sanpaolo SpA (ISPIM)

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Intesa Sanpaolo SpA (ISPIM)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	ISPIM	Intesa Sanpaolo SpA	€1,250		1	EMEA	Jun 15, 2026

Tranche #1Intesa Sanpaolo SpA

currency

EUR

size (m)

1,250.000

maturity

Jun 22, 2034

type

Fixed to Floating

tenor

8.000

call

7.00

registration

Reg S Only

benchmark

Swaps

ranking

Senior Non-Preferred

moody's

Baa2

s&p

BBB

fitch

BBB+

size description

re-open/tap

ipt

MS+120 area

ipt-pxd

-32

guidance

n/a - straight to launch

spread

coupon

3.75%

spread set

price

99.98200

yield

3.753%

book size (m)

2,600

peak book (m)

4,200

x-covered

2.08

book attrition

-38.10%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

2,600

peak book (m)

4,200

x-covered

2.08

book attrition

-38.10%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 2600; First Pay: 2027-06-22; Redemption: 2033-06-22; Registration: Reg S Only; Comments: DBR 2.3 02/15/33 TWIN + 97.8bps (Spot: 97.140, 102% HR). Tax Call: Yes. Clean-Up Call: 75% Regulatory Call: Yes. LEI: 2W8N8UU78PMDQKZENC08;

Use of Proceeds

An amount equal to the net proceeds of the notes will be allocated to finance and/or refinance Eligible Green Assets in line with the eligibility criteria defined within Intesa Sanpaolo’s Green, Social & Sustainability Bond Framework dated June 2022

Relative Value

Green Senior Non-Preferred
8NC7 (June 2034) @ MS+120 area

Implied Spread for fresh 8NC7 @ MS+85

Priced at MS+88
NIC of +3

COMPS
Ticker	Amt (m)	Call Date	I-Spread (bid)	YTM (bid)	Rating (M/S/F)	ESG
ISPIM 3.85 09/16/32	1500	16/09/2031	77	3.62	Baa2/BBB/BBB+
ISPIM 5 5/8 03/08/33	750	-	79	3.69	Baa2/BBB/BBB+	Green

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CreditFlow: End of Day (Europe IG)	Jun 15, 2026

Jun 15, 2026

1 to 1 of 1

	PRICED: Intesa Sanpaolo €1.25bn 8NC7 Green SNP; MS+88bp	Jun 15, 2026
	ALLOCATIONS OUT: Intesa Sanpaolo €1.25bn 8NC7 Green SNP; MS+88bp	Jun 15, 2026
	LAUNCHED: Intesa Sanpaolo €1.25bn 8NC7 Green SNP FXD/FRN; MS+88bp	Jun 15, 2026
	UPDATE (BOOKS): Intesa Sanpaolo € bmk Green 8NC7 SNP FXD/FRN; MS+120a	Jun 15, 2026
	NEW ISSUE: Intesa Sanpaolo € bmk Green 8NC7 SNP FXD/FRN; MS+120a	Jun 15, 2026

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Intesa Sanpaolo SpA (ISPIM)

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