Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 88

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 88
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 debt securities. Payments will be made in respect of the debt securities by check drawn on a bank in New York or, if the holder requests,
by transfer to the holder’s account in New York. Definitive securities should be presented to the paying agent for redemption.

If we issue definitive debt securities of a particular
series in exchange for a particular global security, the depositary, as holder of that global security, will surrender it against receipt
of the definitive debt securities, cancel the book-entry debt securities of that series, and distribute the definitive debt securities
or of that series to the persons and in the amounts that the depositary specifies pursuant to the internal procedures of such depositary.

If definitive securities are issued in the limited
circumstances described above, those securities (i) will be transferable only on the register for that series of debt securities, and
(ii) may be transferred in whole or in part in denominations of any whole number of securities upon surrender of the definitive securities
certificates together with the form of transfer endorsed on it, duly completed and executed at the specified office of a paying agent.
If only part of a securities certificate is transferred, a new securities certificate representing the balance not transferred will be
issued to the transferor within three business days after the paying agent receives the certificate. The new certificate representing
the balance will be delivered to the transferor by uninsured post at the risk of the transferor, to the address of the transferor appearing
in the records of the paying agent. The new certificate representing the securities that were transferred will be sent to the transferee
within three business days after the paying agent receives the certificate transferred, by uninsured post at the risk of the holder entitled
to the securities represented by the certificate, to the address specified in the form of transfer.

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PLAN OF DISTRIBUTION</div>

We may sell securities to or through underwriters
or dealers and also may sell all or part of such senior debt securities directly to other purchasers or through agents.

The distribution of the senior debt securities
may be effected from time to time in one or more transactions at a fixed price or prices, which may be changed, or at market prices prevailing
at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

In connection with the sale of senior debt securities,
we may compensate underwriters in the form of discounts, concessions or commissions or in any other way that the applicable prospectus
supplement describes. Underwriters may