Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 71

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 71
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 | $                             |
| J.P. Morgan Securities LLC  | $                               | $                               | $                             |
| Lloyds Securities Inc.      | $                               | $                               | $                             |
| Scotia Capital (USA) Inc.   | $                               | $                               | $                             |
| Standard Chartered Bank     | $                               | $                               | $                             |
| Wells Fargo Securities, LLC | $                               | $                               | $                             |
| Total                       | $                               | $                               | $                             |

The Underwriters propose to offer the Senior Notes
directly to the public at the initial public offering prices set forth on the cover page of this prospectus supplement. The underwriting
agreement and the pricing agreement provides that the obligations of the Underwriters are subject to certain conditions precedent and
that the Underwriters have undertaken to purchase all of the Senior Notes offered by this prospectus supplement if any are purchased.
The offering of the Senior Notes by the Underwriters is subject to receipt and acceptance and the Underwriters have the right to reject
any order in whole or in part.

Conflicts of Interest

Lloyds Securities Inc., one of the Underwriters
is an affiliate of the Issuer. Any distribution of the Senior Notes offered hereby will be made in compliance with applicable provisions
of Rule 5121 of the Financial Industry Regulatory Authority, Inc. (“FINRA”), which requires that, among other things, Lloyds
Securities Inc. will not participate in the distribution of an offering of Senior Notes unless the Senior Notes are investment grade rated
(within the meaning of Rule 5121) or are Senior Notes in the same series that have equal rights and obligations as investment grade rated
securities or unless another exemption provided by Rule 5121 is applicable.

To the extent any underwriter that is not a U.S.-registered
broker-dealer intends to effect sales of the Senior Notes in the United States, it will do so through one or more U.S.-registered broker-dealers
in accordance with the applicable U.S. securities laws and regulations.

Matters Relating to the Initial Offering and Market-Making Resales

We intend to apply for the listing of each series
of Senior Notes on the New York Stock Exchange. Each series of Senior Notes is a new issue of securities with no established trading market.
We have been advised by the Underwriters that the Underwriters intend to make a market in the Senior Notes, but they are not obligated
to do so and may discontinue market-making