Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 70

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 70
---
.K. bail-in power by the relevant U.K. resolution authority; |

| · | any listing on a securities exchange; and |

| · | any other terms of the debt 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 debt securities. We may sell debt 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.

Debt securities may bear interest at a fixed rate
or a floating rate.

Holders of debt securities shall have no voting
rights except those described under the heading “—Modification and Waiver” below.

Payments

We will make any payments of interest and principal
on any particular series of debt securities on the dates and, in the case of payments of interest, at the rate or rates, that are set
out in, or that are determined by the method of calculation described in, the relevant prospectus supplement.

Agreement with Respect to the Exercise of U.K. Bail-in Power

The debt securities may be subject to the exercise
of the U.K. bail-in power by the relevant U.K. resolution authority. As more fully set out in the relevant prospectus supplement, if the
U.K. bail-in power applies to the debt securities of a series, by its acquisition of the debt securities, each holder of such debt securities
will be bound by (a) the effect of the exercise of any U.K. bail-in power by the relevant U.K. resolution authority and (b) the variation
of the terms of debt securities or the indenture, if necessary, to give effect to the exercise of any U.K. bail-in power by the relevant
U.K. resolution authority.

Additional Amounts

Unless the relevant prospectus supplement provides
otherwise, amounts to be paid on any series of debt securities will be made without deduction or withholding for, or on account of, any
and all present and future income, stamp and other taxes, levies, imposts, duties, charges or fees imposed, levied, collected, withheld
or assessed by or on behalf of the United Kingdom or any political subdivision thereof or authority thereof that has the power to tax
(a “U.K. taxing jurisdiction”), unless such deduction or withholding is required by law. If at any time a U.K. taxing jurisdiction
requires us to make such deduction or withholding,