Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 162

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 162
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 a correct taxpayer identification number and certifies that it is not subject
to backup withholding. The amount of any backup withholding from a payment to a U.S. Holder will be allowed as a credit against the U.S.
Holder’s U.S. federal income tax liability and may entitle it to a refund, provided that the required information is timely furnished
to the Internal Revenue Service.

<div align='center'>S-100</div>

<div align='center'>Underwriting (CONFLICTS
OF INTEREST)</div>

We and the underwriters for the offering named
below (the “Underwriters”) have entered into an underwriting agreement and a pricing agreement with respect to the
Additional Tier 1 Securities. Subject to certain conditions, we have agreed to sell to the Underwriters and each Underwriter has severally
and not jointly agreed to purchase the respective principal amounts of the Additional Tier 1 Securities indicated opposite such Underwriter’s
name in the following table.

| Underwriters                     |     | Principal Amount of Additional Tier 1 Securities |                |
| BofA Securities, Inc.            |     |                                                  |   $120,000,000 |
| Citigroup Global Markets Inc.    |     |                                                  |   $120,000,000 |
| Lloyds Securities Inc.           |     |                                                  |   $400,000,000 |
| Morgan Stanley & Co. LLC         |     |                                                  |   $120,000,000 |
| RBC Capital Markets, LLC         |     |                                                  |   $120,000,000 |
| Santander US Capital Markets LLC |     |                                                  |   $120,000,000 |
| Total                            |     |                                                  | $1,000,000,000 |

The Underwriters propose to offer the Additional
Tier 1 Securities 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 Additional Tier 1 Securities offered by this prospectus supplement
if any are purchased. The offering of the Additional Tier 1 Securities by the Underwriters is subject to receipt and acceptance and the
Underwriters have the right to reject any order in whole or in part.

If a jurisdiction requires that the offering be
made by a licensed broker or dealer and the Underwriters or any affiliate of the Underwriters is a