Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 200

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 200
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 any consolidation or amalgamation or into which we are merged, or any
transferee or lessee of our assets, is a company organized under the laws of any part of the United Kingdom that assumes, by a supplemental
indenture, our obligations on the capital securities and under the applicable indenture, immediately after giving effect to such transaction
no event of default and no event which, after notice or lapse of time or both, would become an event of default, shall have occurred and
be continuing, and we procure the delivery of a customary officer’s certificate and legal opinion providing that the conditions
precedent to the transaction have been complied with.

Governing Law

The capital securities and the indenture will
be governed by and construed in accordance with the laws of the State of New York, except that, as the indentures specify, the subordination
provisions of each series of capital securities and the indenture will be governed by and construed in accordance with the laws of Scotland.

Notices

All notices to holders of registered capital securities
shall be validly given if in writing and mailed, first-class postage prepaid, to them at their respective addresses in the register maintained
by the trustee.

The Trustee

The Bank of New York Mellon, acting through its
London Branch, One Canada Square, London E14 5AL, is the trustee under the indentures with respect to the capital securities. The trustee
shall have and be subject to all the duties and responsibilities specified with respect to an indenture trustee under the TIA. Subject
to the provisions of the TIA, the trustee is under no obligation to exercise any of the powers vested in it by the indenture at the request
of any holder of capital securities, unless offered indemnity satisfactory to the Trustee in its sole discretion by the holder against
the costs, expense and liabilities which might be incurred thereby. We and certain of our subsidiaries maintain deposit accounts and conduct
other banking transactions with The Bank of New York Mellon in the ordinary course of our business. The Bank of New York Mellon is also
the book-entry depositary and paying agent with respect to our capital securities. The Bank of New York Mellon is the depositary with
respect to the American Depositary Shares representing our ordinary shares.

Consent to Service of Process

Under the indenture, LBG irrevocably designates
Kelvina Smith, Chief Legal Officer, Lloyds Securities Inc. and Deputy Chief Legal Officer, North America, Lloyds Bank