Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 2

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 2
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 the extent then required
by the Relevant Regulator or the Loss Absorption Regulations, our giving notice to the Relevant Regulator and the Relevant Regulator granting
us permission) to redeem, in whole, but not in part, the Floating Rate Notes on November , 2030 at a redemption
price equal to 100% of the principal amount of the Floating Rate Notes being redeemed plus accrued and unpaid interest thereon, if any,
to, but excluding, November , 2030.

In addition to our option to redeem a series of
Senior Notes, we may (subject to, if and to the extent then required by the Relevant Regulator or the Loss Absorption Regulations, our
giving notice to the Relevant Regulator and the Relevant Regulator granting us permission) also redeem a series of Senior Notes, in whole,
but not in part, at any time at 100% of their principal amount plus accrued and unpaid interest thereon, if any, upon the occurrence of
certain tax or regulatory events described in this prospectus supplement and accompanying prospectus. See “Description of the Senior Notes—Conditions to redemption and purchase, etc.”.

The Senior Notes will be issued in denominations
of $200,000 and in integral multiples of $1,000 in excess thereof. The Senior Notes will constitute our direct, unconditional, unsecured
and unsubordinated obligations ranking pari passu and without any preference among themselves and at least pari passu with all
of our other outstanding unsecured and unsubordinated obligations, present and future subject to such exceptions as may be provided by
mandatory provisions of applicable law.

This prospectus supplement is for distribution
only to persons who (i) have professional experience in matters relating to investments and who fall within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii)
are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Financial
Promotion Order, (iii) are outside the U.K. or (iv) are persons to whom an invitation or inducement to engage in investment activity (within
the meaning of Section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”)) in connection with the
issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all