Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 8

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 8
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 beliefs about future events. These statements
constitute “forward-looking statements” for purposes of the Private Securities Litigation Reform Act of 1995. We caution that
these statements may and often do vary materially from actual results. Accordingly, we cannot assure you that actual results will not
differ materially from those expressed or implied by the forward-looking statements. You should read the sections entitled “Risk Factors” in this prospectus supplement and “Forward-Looking Statements” in our Annual Report on Form 20-F
for the year ended December 31, 2024, which is incorporated by reference herein.

We do not undertake any obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these
risks, uncertainties and assumptions, forward-looking events discussed in this prospectus supplement or any information incorporated by
reference, might not occur.

<div align='center'>Important Information</div>

An investment in the Additional Tier 1 Securities
may give rise to higher yields than a bank deposit placed with a deposit taking bank within the Group. However, an investment in the Additional
Tier 1 Securities carries risks which are very different from the risk profile of such a bank deposit. See “Risk Factors”
and “Interest Cancellation and Automatic Conversion” below. The Additional Tier 1 Securities may provide greater liquidity
than a bank deposit since bank deposits are generally not transferable. Conversely, unlike certain bank deposits, (i) holders of the Additional
Tier 1 Securities have no ability to require repayment of their investment and (ii) the Additional Tier 1 Securities are not deposit liabilities
of LBG and are not covered by the United Kingdom Financial Services Compensation Scheme or insured by the U.S. Federal Deposit Insurance
Corporation or any other governmental agency of the United Kingdom, the United States or any other jurisdiction.

Interest Cancellation and Automatic Conversion

The interest rate following any Reset Date may
be less than the initial interest rate and/or the interest rate that applies immediately prior to such Reset Date. Moreover,
interest will be due and payable on an Interest Payment Date only to the extent it is not canceled or deemed to have been canceled in
accordance with the terms of the Additional Tier 1 Securities. We will have sole and absolute discretion at all times and for any reason
to cancel (in whole or in part) any interest payment that would otherwise be payable on any Interest Payment Date. The terms of the Additional
Tier