Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 193

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 193
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 other type of securities, or their
cash value, or a combination of these, including upon the occurrence of certain events that may give rise to such conversion;

·whether payments are subject to certain conditions that relate to our financial condition, including our capital ratios;

·the times and places for payment of the principal of and any premium, if any, and/or interest, if any, on the capital securities;

·the terms and conditions of any mandatory or optional redemption, including the amount of any premium;

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

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·the terms and conditions, if any, under which we may elect to substitute or vary the terms of the capital securities;

·the currency or currencies in which they are denominated and in which we will make any payments;

·any index used to determine the amount of any payments on the capital securities;

·any restrictions that apply to the offer, sale and delivery of the capital securities;

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

·any listing on a securities exchange;

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

·any other or different terms of the capital 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 capital securities.

Capital securities may bear interest at a fixed
rate or a floating rate. We may also sell capital 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 capital securities shall have no voting
rights except those described under the heading “—Modification and Waiver” below, unless and until such capital securities
are converted into our ordinary shares, in which case holders will have the voting rights described under “Description of Ordinary
Shares—Voting Rights”.

If we issue subordinated capital securities that qualify as Additional Tier 1 or Tier 2 capital or other capital for regulatory purposes, the payment, subordination, redemption, events of default and other terms may