Your formula is correct.
Interlace video with 50 fields per second has the same bitrate as progressive video with 25 frames per second.
Interlace video is transmitted in fields.
Each field contains 1/2 of the video lines of the frame.
PAL frame is 576 video lines, so PAL field is 288 video lines.
According to ProVideo Coalition, the order of the field in PAL is "upper field first".
Size of two interlace fields equals the size of one frame:

Remark: It's possible that the two fields are captured in separated times, and the two fields do not belong to the same frame (in 4:2:0 separate times it is unlikely).
In 4:2:0 format, the resolution of the Y component is the resolution of the frame.
The U and V components are down-sampled by a factor of 2 in each axis.
Assuming 8 bits per component, there are 12 bit per pixel in average.
- 8 bits per Y component.
- Average of 2 bits per U component (8/4 because size of U is 1/4 of size of Y).
- Average of 2 bits per V component (8/4 because size of V is 1/4 of size of Y).
Interlace or not, your formula is correct.
bitrate = (576∗720)∗(1+1/4+1/4)∗8∗25
[bits per second].