3 yr: Book size: 2800; Registration: Reg S Only; Comments: EUR2bn 3yr Social Housing bond. (SRI), RegS. Aaa/AAA. Danske/HSBC/MS(B&D/DM)/NatWest. Guidance MS+14 area, revised MS+13 area, launch 2bn at MS+11, bks >2.8bn ex-JLM, HR 97% vs OBL 0% 4/23+47 @101.995. Distribution: GerAus 26%, Nordics 21%, UK 12%, Benelux 10%, Amers 10%, S.Eur 6%, Fr 5%, Switz 4%, Other 6%. FM 37%, Bks 30%, CB/OI 22%, Ins/PF 11%.;