P NC 8: Redemption: 2025-11-13; Registration: Reg S Only; Comments: EUR400m (from 300m+) PNC8 hybrid. Unrated. Follows rshow. BNPP(B&D)/BAML/HSBC/Uni/BLB/Danske. IPTs 3.875% area, guidance 3.5% area, launched at 3.25%. Final book 3.4bn. MS+266.7;