Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 36

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 36
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 Senior
Fixed Rate Notes during the Senior Fixed Rate Notes reset fixed rate period will be reset on the Senior Fixed Rate Notes Reset Date. If
any scheduled Senior Fixed Rate Notes reset rate interest payment date, redemption date or maturity date is not a business day, we will
pay interest on the next business day, but interest on that payment will not accrue during the period from and after such scheduled Senior
Fixed Rate Notes reset rate interest payment date, redemption date or maturity date.

Determination of the Senior Fixed Rate Notes U.S. Treasury Rate

The Senior Fixed Rate Notes U.S. Treasury Rate
shall be determined by The Bank of New York Mellon, London Branch as calculation agent (the “Calculation Agent”).

The “Senior Fixed Rate Notes U.S. Treasury
Rate” means the rate per annum equal to: (1) the arithmetic average of the yields on actively traded U.S. Treasury securities adjusted
to constant maturity for the maturity of one year (“Yields”), for the five consecutive business days immediately prior to
the Senior Fixed Rate Notes Reset Determination Date, and appearing under the caption “Treasury constant maturities” on the
Senior Fixed Rate Notes Reset Determination Date, as of 5:00 p.m. (New York City time), in the applicable most recently published statistical
release designated “H.15 Daily Update”, or any successor publication that is published by the Board of Governors of the Federal
Reserve System that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity, under the caption “Treasury
constant maturities”, for the maturity of one year; provided that if the Yield is not available through such release (or
successor publication) for any relevant business day, then the arithmetic average will be determined based on the Yields for the remaining
business days during the five business day period described above (provided further that if the Yield is available for only a single business
day during such five business day period, the “Senior Fixed Rate Notes U.S. Treasury Rate” will mean the single-day Yield
for such day); or (2) if such release (or any successor release) is not published during the week immediately prior to the Senior Fixed
Rate Notes Reset Determination Date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Senior Fixed Rate Notes Comparable Treasury Issue, calculated using a price for the Senior Fixed Rate Notes Comparable Treasury
Issue (expressed as a percentage of its