5.4 yr: Book size: 150; Registration: Reg S Only; Comments: GBP200m tap of 300m bmk 0.75% July 2027 old long 7yr RegS. Aa1/AAA/AA+. HSBC(B&D/DM)/NatWest. Guidance G+50 area vs 1.25% 7/27, set +50. Bk last >150m ex-JLM, launch 200m. Immediate funge, 229 days AI. Gilt @MID @ 101.8 / 0.907%, HR: 96%. LEI: 549300UYNXMI821WYG82;