Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 50

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 50
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under (“FATCA”), any intergovernmental agreement between the United States and the United Kingdom
or any other jurisdiction with respect to FATCA, or any law, regulation or other official guidance enacted or issued in any jurisdiction
implementing, or relating to, FATCA or any intergovernmental agreement, any of us, the Trustee, our paying agent or another withholding
agent deducts and withholds from any amount payable on, or in respect of, the Senior Notes, the amounts so deducted or withheld shall
be treated as having been paid to the holder of the Senior Notes, and no additional amounts will be paid on account of any such deduction
or withholding. Neither we, the Trustee nor our paying agent shall have any liability in connection with our compliance with any such
withholding obligation under applicable law.

Optional Redemption

On at least 5 business days’ but no more
than 30 business days’ prior written notice delivered to the registered holders of a series of Senior Notes, we may, in our sole
discretion (but subject to, if and to the extent then required by the Relevant Regulator or the Loss Absorption Regulations, our giving
notice to the Relevant Regulator and the Relevant Regulator granting us permission) redeem that series of Senior Notes, in whole, but
not in part, on November , 2030 for the 2031 Fixed Rate Notes and the Floating Rate Notes and, in whole, but not
in part, on November , 2035 for the 2036 Fixed Rate Notes, at a redemption price equal to 100% of the principal
amount of such series of Senior Notes plus accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption
(the “redemption date”).

<div align='center'>S-35</div>

Agreement with Respect to the Exercise of U.K. Bail-in Power

Notwithstanding any other agreements, arrangements,
or understandings between us and any holder or beneficial owner of the Senior Notes, by purchasing or acquiring the Senior Notes, each
holder (including each beneficial owner) of the Senior Notes acknowledges, accepts, agrees to be bound by and consents to the
exercise of any U.K. bail-in power (as defined below) by the relevant U.K. resolution authority that may result in (i) the reduction or
cancellation of all, or a portion, of the principal amount of, or interest on, the Senior Notes; (ii) the conversion of all