25 yr: Book size: 56600; First Pay: 2021-07-31; Registration: Reg S Only; Comments: GBP6.5bn new 0.875% 25yr conventional Gilt due Jan 2046. Aa2/AA/AA-. BNPP/DB(DM/B&D)/HSBC/Nomura. Guidance G+2.5/+3 vs 3.5% 1/45. Bk >45bn (6.15bn JLM). Set at G+2.5. Launch 6.5bn. Bk >56.6bn (6.25bn JLM), peak >60bn. 2045s @ 157.659 bid HR 78.9% , mid 157.66;