Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 57

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 57
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For a discussion of certain risk factors relating
to the U.K. bail-in power, see “Risk Factors—Risks relating to the Notes”.

Events of Default; Default; Limitation of Remedies

Senior Notes Events of Default

A “Senior Notes Event of Default”
with respect to a series of Senior Notes shall result if:

| · | a court of competent jurisdiction makes an order which is not successfully appealed within 30 days; or |

| · | an effective shareholders’ resolution is validly adopted, |

for the winding-up of LBG, other than under or in connection
with a scheme of amalgamation or reconstruction not involving a bankruptcy or insolvency.

If a Senior Notes Event of Default occurs, the
Trustee or the holder or holders of at least 25% in aggregate principal amount of the outstanding notes of such series of Senior Notes
may declare to be due and payable immediately in accordance with the terms of the Senior Indenture the principal amount of, and accrued
but unpaid interest thereon, if any, and any Senior Notes Additional Amounts (as defined below), on the Senior Notes of that series. However,
after this declaration but before the Trustee obtains a judgment or decree for payment of money due, the holder or holders of a majority
in aggregate principal amount of the outstanding notes of such series of Senior Notes may rescind the declaration of acceleration and
its consequences, but only if all Senior Notes Events of Default have been remedied and all payments due, other than those due as a result
of acceleration, in respect of such series of Senior Notes have been made.

Defaults

A “Senior Notes Default” with respect
to a series of Senior Notes shall result if:

| · | any installment of interest in respect of the Senior Notes of such series is not paid on or before its interest payment date and such 
 failure continues for 14 days; or                                                                                                     |

| · | all or any part of the principal of the Senior Notes of such series is not paid when it otherwise becomes due and payable, whether 
 upon redemption or otherwise, and such failure continues for seven days.                                                           |

If a Senior Notes Default occurs with respect
to a series of Senior Notes, the Trustee may commence a proceeding for the winding-up of LBG, provided that the Trustee may not (except
in such winding-up, in accordance with “Events of Default” above) declare the principal amount of, or any other amount
in respect of, the outstanding Senior Notes of any series