5.25 yr: Book size: 200; Registration: Reg S Only; Comments: EUR200m sub-bmk 5.25yr July 2025 after inv call Thurs. -/BBB+. DB/DZ/HSBC(B&D)/SEB. IPTs MS+425 area set MS+425 on bk >200m, >60acs pre close, priced 200m at MS+425. DBR 0.5% Feb 2025 @ 105.694 Bunds+ 465.9 bps, 91% HR. LEI: 635400ILKD2MBMANBG03.;