Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 5

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 5
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 of its decision to exercise such power with respect to the Senior Notes
and (ii) authorized, directed and requested The Depository Trust Company (“DTC”) and any direct participant in DTC or other
intermediary through which it holds such Senior Notes to take any and all necessary action, if required, to implement the exercise of
any U.K. bail-in power with respect to the Senior Notes as it may be imposed, without any further action or direction on the part of such
holder or beneficial owner or the Trustee.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.

| Per 2031 Fixed Rate Note        | Price     
 to Public 
 %         | Underwriting 
 Discount     
 %            | Proceeds                
 to us (before expenses) 
 %                       |
|:--------------------------------|:----------|:-------------|:------------------------|
| Total for 2031 Fixed Rate Notes | $         | $            | $                       |

| Per 2036 Fixed Rate Note        | % | % | % |
|:--------------------------------|:--|:--|:--|
| Total for 2036 Fixed Rate Notes | $ | $ | $ |
| Per Floating Rate Note          | % | % | % |
| Total for Floating Rate Notes   | $ | $ | $ |

The initial public offering prices set forth above
do not include accrued interest, if any. Interest on the Senior Notes will accrue from the date of issuance, which is expected to be November
, 2025. See “Underwriting”.

We may use this prospectus supplement and the
accompanying prospectus in the initial sale of the Senior Notes. In addition, Lloyds Securities Inc. or another of our affiliates may
use this prospectus supplement and the accompanying prospectus in a market-making transaction in the Senior Notes after their initial
sale. In connection with any use of this prospectus supplement and the accompanying prospectus by Lloyds Securities Inc. or another of
our affiliates, unless we or our agent informs you otherwise in your confirmation of sale, you may assume this prospectus supplement and
the accompanying prospectus is being used in a market-making transaction.

We expect that the Senior Notes will be ready
for delivery through the book-entry facilities of The Depository Trust Company and its participants including Clearstream Banking, S