P NC 5: Redemption: 2022-03-21; Registration: Reg S Only; Comments: USD600m perp NC5 bmk. Follows rshow. RegS. ANZ/BAML/DBS/DB. IPTs low 7s, guidance 7.25% area, launched 600m at 6.875%. Books were >2.4bn 0805LON. MS+464.7. 200bp step if not called;