Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 94

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 94
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 offer the Notes 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 Notes offered by this prospectus supplement if any are purchased. The offering of the Notes by
the Underwriters is subject to receipt and acceptance and the Underwriters have the right to reject any order in whole or in part.

Conflicts of Interest

Lloyds Securities Inc., one of the Underwriters
is an affiliate of the Issuer. Any distribution of the Notes offered hereby will be made in compliance with applicable provisions of Rule
5121 of the Financial Industry Regulatory Authority, Inc. (“FINRA”), which requires that, among other things, Lloyds Securities
Inc. will not participate in the distribution of an offering of Notes unless the Notes are investment grade rated (within the meaning
of Rule 5121) or are Notes in the same series that have equal rights and obligations as investment grade rated securities or unless another
exemption provided by Rule 5121 is applicable.

Matters Relating to the Initial Offering and Market-Making Resales

We intend to apply for the listing of each series
of Notes on the New York Stock Exchange. Each series of Notes is a new issue of securities with no established trading market. We have
been advised by the Underwriters that the Underwriters intend to make a market in the Notes, but they are not obligated to do so and may
discontinue market-making at any time without notice. No assurance can be given as to the liquidity of the trading market for the Notes.

In this prospectus supplement, the term “the
offering” means the initial offering of the Notes made in connection with their original issuance and not any subsequent resales
of Notes in market-making transactions.

The Notes will settle through the facilities of
the DTC and its participants (including Euroclear and Clearstream Luxembourg). The CUSIP number for the Senior Fixed Rate Notes is
, the ISIN is and the Common Code is .
The CUSIP number for the Senior Floating Rate Notes is , the ISIN is and
the Common Code is . The CUSIP number for the Subordinated Notes is ,
the ISIN is and the Common Code is
.

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We have agreed to indemnify the several Underwriters