Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 91

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 91
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Optional Redemption of Senior Debt Securities

The relevant prospectus supplement will specify
whether or not the relevant issuer may redeem the senior debt securities of any series, in whole or in part, at its option, including
any conditions to its right to exercise such option, in any other circumstances and, if so, the prices and any premium at which and the
dates on which it may do so. Any notice of redemption of senior debt securities of any series will state, among other items:

| · | the redemption date; |

| · | the relevant regular record date or special record date; |

| · | the amount of senior debt securities to be redeemed if less than all of the outstanding senior debt securities of any series is to 
 be redeemed;                                                                                                                       |

| · | the redemption price; |

| · | that, the redemption price will become due and payable on the redemption date and, if applicable, that interest will cease to accrue 
 on such date;                                                                                                                        |

| · | the place or places at which such senior debt securities are to be surrendered for payment of the redemption price; and |

| · | the CUSIP, Common Code and/or ISIN number or numbers, if any, with respect to the senior debt securities being redeemed. |

In the case of a partial redemption, the trustee
shall select the senior debt securities to be redeemed in any manner which it deems fair and appropriate, and consistent with the rules
and regulations of the applicable clearing system.

We or any of our respective subsidiaries may at
any time and from time to time purchase senior debt securities of any series in the open market or by tender (available to each holder
of senior debt securities of the relevant series) or by private agreement, if applicable law permits. Any senior debt securities of any
series that we purchase beneficially for our account, other than in connection with dealing in securities, will be treated as cancelled
and will no longer be issued and outstanding.

Redemption of Subordinated Debt Securities

Any terms of the redemption of any series of subordinated
debt securities, whether at our option or upon the occurrence of certain events (including, but not be limited to, the occurrence of certain
tax or regulatory events), will be set forth in the relevant prospectus supplement.

Under existing PRA requirements, we may not make
any redemption or repurchase of certain debt securities beneficially for our own account, other than a repurchase in connection with dealing
in securities, unless, among other things, prior