Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 90

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 90
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of Additional Amounts to the extent that, in the context, Additional Amounts are, were or would be payable.

Redemption of Senior Debt Securities

Tax Redemption of Senior Debt Securities

Unless the relevant prospectus supplement provides
otherwise, we will have the option to redeem the senior debt securities of any series, as a whole but not in part, upon not less than
30 nor more than 60 days’ notice to each holder of senior debt securities, on any interest payment date, at a redemption price equal
to 100% of their principal amount together with any accrued but unpaid interest, to the redemption date, or, in the case of discount securities,
their accreted face amount, together with any accrued interest, if, at any time, we determine that as a result of a change in or amendment
to the laws or regulations of a U.K. taxing jurisdiction, including any treaty to which it is a party, or any change in the application
or interpretation of those laws or regulations, including a decision of any court or tribunal which change or amendment becomes effective
or applicable on or after a date included in the terms of such senior debt securities:

| · | in making any payments on the particular series of senior debt securities, we have paid or will or would on the next interest payment 
 date be required to pay Additional Amounts;                                                                                           |

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| · | the payment of interest on the next interest payment date in respect of any of the series of senior debt securities would be treated 
 as “a distribution” within the meaning of Chapter 2, Part 23 of the Corporation Tax Act 2010 of the United Kingdom, or any           
 statutory modification or reenactment of such Act; or                                                                                |

| · | on the next interest payment date we would not be entitled to claim a deduction in respect of the payment of interest in computing 
 our U.K. taxation liabilities, or the value of such deduction to us would be materially reduced.                                   |

Prior to the giving of any notice of redemption,
we must deliver to the trustee (i) a written legal opinion of independent United Kingdom counsel of recognized standing selected by us
in a form satisfactory to the trustee confirming that the relevant change or amendment has occurred and that we are entitled to exercise
its right of redemption; and (ii) an officer’s certificate, evidencing compliance with such provisions and stating that we are entitled
to redeem the senior debt securities pursuant to the terms of such senior debt securities