Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 41

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 41
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 that day “i”.

In connection with the SOFR provisions above,
the following definitions apply:

“Bloomberg Screen SOFRRATE Page”
means the Bloomberg screen designated “SOFRRATE” or any successor page or service; “NY Federal Reserve” means
the Federal Reserve Bank of New York;

“NY Federal Reserve’s Website”
means the website of the NY Federal Reserve, currently at www.newyorkfed.org, or any successor website of the NY Federal Reserve or the
website of any successor administrator of SOFR;

“Reuters Page USDSOFR=” means the
Reuters page designated “USDSOFR=” or any successor page or service;

<div align='center'>S-29</div>

“SOFR” means, with respect to any
day (including any U.S. Government Securities Business Day), the rate determined by the Calculation Agent, as the case may be, in accordance
with the following provisions:

(a) the
Secured Overnight Financing Rate published at the SOFR Determination Time, as such rate is reported on the Bloomberg Screen SOFRRATE Page,
then the Secured Overnight Financing Rate published at the SOFR Determination Time, as such rate is reported on the Reuters Page USDSOFR=
or, if no such rate is reported on the Reuters Page USDSOFR=, then the Secured Overnight Financing Rate that appears at the SOFR Determination
Time on the NY Federal Reserve’s Website; or

(b) if
the rate specified in (a) above does not appear, the SOFR published on the NY Federal Reserve’s Website for the first preceding
U.S. Government Securities Business Day for which SOFR was published on the NY Federal Reserve’s Website;

“SOFR Determination Time” means approximately
3:00 p.m. (New York City time) on the NY Federal Reserve’s Website on the immediately following U.S. Government Securities Business
Day; and

“SOFR Observation Period” means,
in respect of each Floating Rate Notes Interest Period, the period from (and including) the fifth U.S. Government Securities Business
Day preceding the first date in such Floating Rate Notes Interest Period to (but excluding) the fifth U.S. Government Securities Business
Day preceding the Floating Rate Notes interest payment date (or in the final Floating Rate Notes Interest Period, preceding the maturity
date) for such Floating Rate Notes Interest Period.

SOFR Discontinuation

Notwithstanding the provisions described under
“—Calculation of Floating Rate Notes Interest