Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 37

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 37
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 scheduled Senior Fixed
Rate Notes fixed 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 fixed
rate interest payment date, redemption date or maturity date.

<div align='center'>S-34</div>

Senior Fixed Rate Notes Reset Fixed Rate Period

Interest on the Senior Fixed Rate Notes during
the Senior Fixed Rate Notes reset fixed rate period will be calculated on the basis of a 360-day year consisting of twelve 30-day months
and, in the case of an incomplete month, on the basis of the actual number of days elapsed in such period. The interest rate for the 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