Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 126

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 126
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 payable in respect thereof pursuant to the provisions of this section
and as if express mention of the payment of Additional Amounts (if applicable) were made in any provisions hereof where such express mention
is not made.

Redemption

Any terms of the redemption of any series of capital
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.

Modification and Waiver

We and the trustee may make certain modifications
and amendments to the applicable indenture with respect to any series of capital securities without the consent of the holders of such
capital securities. Other modifications and amendments may be made to the applicable indenture with the consent of not less than 2/3 (two
thirds) in aggregate outstanding principal amount of the capital securities of the series outstanding under the indenture that are affected
by the modification or amendment, voting as one class. However, no modifications or amendments may be made without the consent of the
holder of each capital security affected that would:

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| · | change the stated maturity, if any, of any principal amount or any interest amounts of any capital security; |

| · | change the terms of any capital security to include a stated maturity date; |

| · | reduce the principal amount of, the interest rates of, any premium payable upon the redemption of or the amount of principal of an      
 original issue discount security that would be due and payable upon an acceleration of the maturity of any capital security, other than 
 as permitted under the applicable indenture;                                                                                            |

| · | change our (or any successor’s) obligation to pay Additional Amounts; |

| · | change the currency of payment; |

| · | impair the right to institute suit for the enforcement of any payment due and payable (or, in the case of a redemption or exchange, 
 on or after the redemption date or the exchange date, as the case may be);                                                          |

| · | reduce the percentage in aggregate principal amount of outstanding capital securities of the series necessary to modify or amend the 
 applicable indenture or to waive compliance with certain provisions of the applicable indenture;                                     |

| · | modify the subordination provisions or the terms and conditions of our obligations in respect of the due and punctual payment of amounts 
 due and payable on the capital securities in a manner adverse to the holders; or                                                         |

| ·