Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 93

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 93
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ed” in a participating Member State in a broad
range of circumstances, including (a) by transacting with a person established in a participating Member State or (b) where the financial
instrument which is subject to the dealings is issued in a participating Member State.

The FTT proposal remains subject to negotiation
between the participating Member States and the scope and timing of any such tax is uncertain. Based on certain public statements, the
participating Member States are considering a proposal that would reduce the scope of the FTT and would only concern certain listed shares.
This proposal remains subject to change until final approval. Additional EU Member States may decide to participate. Prospective holders
of the Notes are advised to seek their own professional advice in relation to the FTT.

<div align='center'>S-64

Underwriting</div>

We and the underwriters for the offering named
below (the “Underwriters”) have entered into an underwriting agreement and a pricing agreement with respect to the Notes.
Subject to certain conditions, we have agreed to sell to the Underwriters and each Underwriter has severally, and not jointly, agreed
to purchase the respective principal amounts of the Senior Notes and the Subordinated Notes indicated opposite such Underwriter’s
name in the following tables.

| Underwriters                     
 for the Senior Notes             | Principal                         
 Amount of Senior Fixed Rate Notes | Principal                            
 Amount of Senior Floating Rate Notes |
|:---------------------------------|:----------------------------------|:-------------------------------------|
| BofA Securities, Inc.            | $                                 | $                                    |
| Lloyds Securities Inc.           | $                                 | $                                    |
| Morgan Stanley & Co. LLC         | $                                 | $                                    |
| Santander US Capital Markets LLC | $                                 | $                                    |
| Scotia Capital (USA) Inc.        | $                                 | $                                    |
| TD Securities (USA) LLC          | $                                 | $                                    |
| Total                            | $                                 | $                                    |

| Underwriters                     
 for the Subordinated Notes       | Principal                    
 Amount of Subordinated Notes |
|:---------------------------------|:-----------------------------|
| BofA Securities, Inc.            | $                            |
| Lloyds Securities Inc.           | $                            |
| Morgan Stanley & Co. LLC         | $                            |
| Santander US Capital Markets LLC | $                            |
| TD Securities (USA) LLC          | $                            |
| Wells Fargo Securities, LLC      | $                            |
| Total                            | $                            |

The Underwriters propose to