I found it too!
I was up between England & Greenland when I received a task force report. I turned around and got on course. Imagine my surprise when I saw two battleships appearing out of the distant mist. The Hood and The Prince of Wales!
Of course, I missed both of them . . . the first time.
I just had to know what it would take to sink one of these beasts so I re-ran from the save until I had put the Hood under. As I recall, it took four torpedos.
Interestingly, towards the tail end of this mission I received word that the Hood had been sunk by the Bismark!
Pure propaganda. I sunk the Hood! To add insult to injury, I didn't even get so much as a letter of commendation. Well, I guess since I cheated (by reloading saves), I really didn't deserve anything anyhow.