Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 130

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 130
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 are merged, or any
transferee or lessee of our assets, is a company organized under the laws of any part of the United Kingdom that assumes, by a supplemental
indenture, our obligations on the capital securities and under the applicable indenture, immediately after giving effect to such transaction
no event of default and no event which, after notice or lapse of time or both, would become an event of default, shall have occurred and
be continuing, and we procure the delivery of a customary officer’s certificate and legal opinion providing that the conditions
precedent to the transaction have been complied with.

Governing Law

The capital securities and the indenture will
be governed by and construed in accordance with the laws of the State of New York, except that, as the indentures specify, the subordination
provisions of each series of capital securities and the indenture will be governed by and construed in accordance with the laws of Scotland.

Notices

All notices to holders of registered capital securities
shall be validly given if in writing and mailed, first-class postage prepaid, to them at their respective addresses in the register maintained
by the trustee.

The Trustee

The Bank of New York Mellon, acting through its
London Branch, 160 Queen Victoria Street, London EC4V 4LA, is the trustee under the indentures with respect to the capital securities.
The trustee shall have and be subject to all the duties and responsibilities specified with respect to an indenture trustee under the
TIA. Subject to the provisions of the TIA, the trustee is under no obligation to exercise any of the powers vested in it by the indenture
at the request of any holder of capital securities, unless offered indemnity or security satisfactory to the Trustee in its sole discretion
by the holder against the costs, expense and liabilities which might be incurred thereby. We and certain of our subsidiaries maintain
deposit accounts and conduct other banking transactions with The Bank of New York Mellon in the ordinary course of our business. The Bank
of New York Mellon is also the book-entry depositary and paying agent with respect to our capital securities. The Bank of New York Mellon
is the depositary with respect to the American Depositary Shares representing our ordinary shares.

Consent to Service of Process

Under the indenture, LBG irrevocably designates
Kelvina Smith, Chief Legal Officer, Lloyds Securities Inc. and Deputy Chief Legal Officer, North America, Lloyds Bank Corporate Markets
plc