Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 19

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 19
---
 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) to redeem a series of Senior Notes, in whole, but not in part, on the applicable redemption
date on at least 5 business days’ but no more than 30 business days’ prior written notice. It is more likely that we will
redeem a series of Senior Notes prior to its maturity date to the extent that the interest payable on such notes is greater than the interest
that would be payable on other instruments of ours of a comparable maturity, of comparable terms and of a comparable credit rating trading
in the market. If a series of Senior Notes is redeemed prior to its maturity date, you may have to re-invest the proceeds in a lower interest
rate environment.

We retain the option (subject to, if and to the
extent then required by the Relevant Regulator or the Applicable Regulations, our giving notice to the Relevant Regulator and the Relevant
Regulator granting us permission) to redeem the Subordinated Notes, in whole, but not in part, on the applicable
redemption date on at least 15 calendar days’ but no more than 30 calendar days’ prior written notice. It is more likely that
we will redeem the Subordinated Notes prior to their maturity date to the extent that the interest payable on the Subordinated Notes is
greater than the interest that would be payable on other instruments of ours of a comparable maturity, of comparable terms and of a comparable
credit rating trading in the market. If the Subordinated Notes are redeemed prior to their maturity date, you may have to re-invest the
proceeds in a lower interest rate environment.

<div align='center'>S-23</div>

We may redeem a series of Notes at any time
for certain tax reasons.

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) redeem a series of Senior Notes at any time in whole (but not in part) upon the occurrence of certain tax changes
as described in this prospectus supplement and accompanying prospectus.

We may (subject to, if and to the extent then
required by the Relevant Regulator or the Applicable Regulations, our giving notice to the Relevant Regulator and the Relevant Regulator
grant