Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 176

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 176
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in 2014, the Group sold its remaining interest in TSB to Banco de Sabadell in 2015, and all European Commission state aid requirements
were met by June 30, 2017.

On June 1, 2017, following the receipt of competition
and regulatory approval, the Group acquired 100% of the ordinary share capital of MBNA Limited, which together with its subsidiaries operates
a U.K. consumer credit card business, from FIA Jersey Holdings Limited, a wholly-owned subsidiary of Bank of America.

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The Group successfully launched its new non ring-fenced
bank, Lloyds Bank Corporate Markets plc in 2018, transferring in the non ring-fenced business from the rest of the Group, thereby meeting
its legal requirements under ring-fencing legislation.

On October 23, 2018, the Group announced a strategic
partnership with Schroders plc to create a market-leading wealth management proposition. The three key components of the partnership are:
(i) the establishment of a new financial planning joint venture; (ii) the Group taking a 19.9% stake in Schroders’ high net worth
U.K. wealth management business; and (iii) the appointment of Schroders as the active investment manager of approximately £80 billion
of the Group’s insurance and wealth related assets. The joint venture, Schroders Personal Wealth, was launched to the market in
the third quarter of 2019. The Group’s interest in the joint venture is 50.1%.

On February 1, 2022, the Group announced that
it had completed the acquisition of Embark Group, a fast growing investment and retirement platform business. Embark Group will be part
of the Group’s Wealth proposition, alongside Schroders Personal Wealth and the Group’s investment in Cazenove Capital.

The Group maintains a website at www.lloydsbankinggroup.com.

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DESCRIPTION OF
DEBT SECURITIES</div>

The following is a summary of the general terms of the debt securities issued by LBG. Each time that debt securities are issued, a prospectus supplement will be filed with the SEC, which you should read carefully. The prospectus supplement will summarize specific financial terms of your security and may contain additional terms of those debt securities. The terms presented here, together with the terms contained in the prospectus supplement, will be a description of the material terms of the debt securities, but if