Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 59

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 59
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 Notes described in this prospectus supplement except for the price to the public, issue date and first
interest payment date, provided however that such additional notes that form part of any series of Senior Notes described in this prospectus
supplement must be fungible with the outstanding Senior Notes of that series for U.S. federal income tax purposes. Any such additional
notes, together with the Senior Notes offered by this prospectus supplement, will constitute a single series of securities under the Senior
Indenture. There is no limitation on the amount of Senior Notes or other debt securities that we may issue under such indenture.

Tax Redemption

In addition to our right to redeem each series
of Senior Notes described above under “—Optional Redemption”, we may (subject to, if and to the extent then required
by the Relevant Regulator or the Loss Absorption Regulations, our giving notice to the Relevant Regulator and the Relevant Regulator granting
us permission) redeem the Senior Notes of any series in whole but not in part if we determine that as a result of a change in or amendment
to the laws or regulations of the United Kingdom or any political subdivision thereof or authority thereof that has the power to tax (a
“U.K. taxing jurisdiction”) (including any treaty to which such U.K. taxing jurisdiction is a party), or any change in the
application or interpretation of such laws or regulations (including a decision of any court or tribunal) which change or amendment becomes
effective or applicable on or after June 13, 2025:

·in
making any payments on the Senior Notes of the relevant series, we have paid or will or would on the next payment date be required to
pay additional amounts;

·payments
on the next payment date in respect of the Senior Notes of the relevant series would be treated as “distributions” within
the meaning of Chapter 2 Part 23 of the Corporation Tax Act 2010 of the United Kingdom, or any statutory modification or re-enactment
of such Act; or

·on
the next payment date we would not be entitled to claim a deduction in respect of the payments in computing our U.K. taxation liabilities,
or the value of the deduction to us would be materially reduced.

In the event of such a redemption, the redemption
price of the Senior Notes of the relevant series will be 100% of their principal amount together with accrued but unpaid interest thereon,
if any, to the date of redemption.

If we elect to redeem the Senior Notes of any