Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 108

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 108
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 the amounts of payment of principal of and premium, if any, or interest, if any, on the debt securities may be determined              
 with reference to an index or are otherwise not fixed on the original issue date thereof, the manner in which such amounts shall be determined 
 and the calculation agent, if any, who will be appointed and authorized to calculate such amounts;                                             |

| · | any modifications or additions to the events of default with respect to the debt securities offered; |

| · | any additional subordination terms with respect to the subordinated debt securities offered; |

| · | whether and under what circumstances, if other than those described in this prospectus, we will pay additional amounts on the debt       
 securities and whether, and on what terms, if other than those described in this prospectus, we may redeem the debt securities following 
 certain developments with respect to tax laws;                                                                                           |

| · | provisions relating to the exercise of the U.K. bail-in power by the relevant U.K. resolution authority; |

| · | any listing on a securities exchange; and |

| · | any other terms of the debt securities. |

In addition, the prospectus supplement will describe
the material U.S. federal and U.K. tax considerations that apply to any particular series of debt securities.

Debt securities may bear interest at a fixed rate
or a floating rate. We may sell any debt securities that bear no interest, or that bear interest at a rate that at the time of issuance
is below the prevailing market rate, at a discount to their stated principal amount.

Holders of debt securities shall have no voting
rights except those described under the heading “—Modification and Waiver” below.

If we issue subordinated debt securities that, in each case, qualify as Tier 2 capital or other capital for regulatory purposes, the payment, subordination, redemption, events of default and other terms may vary from those described in this prospectus and will be set forth in the relevant prospectus supplement.

Payments

We will make any payments of interest and principal
on any particular series of debt securities on the dates and, in the case of payments of interest, at the rate or rates, that are set
out in, or that are determined by the method of calculation described in, the relevant prospectus supplement.

Subordinated Debt Securities

Unless the relevant prospectus supplement provides
otherwise, if we do not make a payment on a series of subordinated debt securities on any payment date, the obligation to make that payment