ROME/LONDON, March 26 (Reuters) - Italy's Treasury has launched an accelerated bookbuilding procedure to place with investors shares in bailed out bank Monte dei Paschi di Siena (MPS) equivalent to about 12.5% of the bailed-out lender.

Shares are being marketed at 4.150 to 4.256 euros a piece, with a view to raising about 650 million euros , according to a deal term sheet seen by Reuters on Tuesday.

BofA Securities, Citigroup Global Markets Europe AG , Jeffries and Mediobanca are joint global coordinators for the placement, the Treasury said in its announcement on Tuesday.

Commitments Italy agreed with European Union competition authorities at the time of the MPS bailout in 2017 bind Rome to bring the lender back into private hands eventually.

Tuesday's transaction, when settled, will reduce the stake to 26.5% from 39%.

As part of the deal, Rome committed not to sell more shares on the market for 90 days without consent of the global coordinators, the Treasury statement added.

Last November Italy sold an initial 25% stake in MPS through an accelerated bookbuilding procedure that raised 920 million euros ($996.5 million). ($1 = 0.9233 euros) (Reporting by Giuseppe Fonte in Rome and Pablo Mayo Cerqueiro in London; Editing by David Goodman)