Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 51

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 51
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 and unsubordinated obligations, present and future, subject to such exceptions as may be provided
by mandatory provisions of applicable law.

Each series of Senior Notes will constitute a
separate series of senior debt securities issued under an indenture dated as of July 6, 2010, as amended by the First Supplemental Indenture
dated as of July 6, 2016 (the “Senior Base Indenture”) between us as Issuer and The Bank of New York Mellon, acting through
its London Branch, as trustee (the “Trustee”), as supplemented by a Twenty-First Senior Supplemental Indenture to be dated
as of June , 2025 (the “Twenty-First Senior Supplemental Indenture” and, together with the Senior Base
Indenture, the “Senior Indenture”) between us as Issuer and the Trustee, The Bank of New York Mellon, London Branch as paying
agent and The Bank of New York Mellon SA/NV, Dublin Branch, as senior debt security registrar. Book-entry interests in the Senior Notes
will be issued in minimum denominations of $200,000 and in integral multiples of $1,000 in excess thereof.

The Bank of New York Mellon, London Branch is
designated as the paying agent. We may at any time designate additional paying agents or rescind the designation of paying agents or approve
a change in the office through which any paying agent acts.

We will issue the Senior Notes in fully registered
form. Each series of Senior Notes will be represented by one or more global securities in the name of a nominee of The Depository Trust
Company (the “DTC”). You will hold beneficial interest in the Senior Notes through the DTC and its participants. The Underwriters
expect to deliver the Senior Notes through the facilities of the DTC on June , 2025. For a more detailed summary
of the form of the Senior Notes and settlement and clearance arrangements, you should read “Description of Certain Provisions Relating to Debt Securities and Capital Securities—Form of Debt Securities and Capital Securities; Book-Entry System”
in the accompanying prospectus. Indirect holders trading their beneficial interests in the Senior Notes through the DTC must trade in
the DTC’s same-day funds settlement system and pay in immediately available funds. Secondary market trading will occur in the ordinary
way following the applicable rules and operating procedures of Euroclear and Clearstream Luxembourg.

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