Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 49

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 49
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 change in the office through which any paying agent acts.

We will issue the Senior Notes in fully registered
form. Each series of Senior Notes will be represented by one or more global securities in the name of a nominee of The Depository Trust
Company (the “DTC”). You will hold beneficial interest in the Senior Notes through the DTC and its participants. The Underwriters
expect to deliver the Senior Notes through the facilities of the DTC on November , 2025. For a more detailed summary
of the form of the Senior Notes and settlement and clearance arrangements, you should read “Description of Certain Provisions Relating to Debt Securities and Capital Securities—Form of Debt Securities and Capital Securities; Book-Entry System”
in the accompanying prospectus. Indirect holders trading their beneficial interests in the Senior Notes through the DTC must trade in
the DTC’s same-day funds settlement system and pay in immediately available funds. Secondary market trading will occur in the ordinary
way following the applicable rules and operating procedures of Euroclear and Clearstream Luxembourg.

Definitive debt securities will only be issued
in limited circumstances described under “Description of Certain Provisions Relating to Debt Securities and Capital Securities—Form of Debt Securities and Capital Securities; Book-Entry System” in the accompanying prospectus.

Payment of principal of and interest on the Senior
Notes, so long as the Senior Notes are represented by global securities, will be made in immediately available funds. Beneficial interests
in the global securities will trade in the same-day funds settlement system of the DTC, and secondary market trading activity in such
interests will therefore settle in same-day funds.

A “business day” means any day, other
than Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or
regulation to close in the City of New York or in the City of London.

All payments in respect of the Senior Notes by
us or our paying agent will be made subject to any deduction or withholding that may be imposed or levied by any jurisdiction. Except
as provided under “—Payment of Additional Amounts” below, no additional amounts will be paid on the Senior Notes
with respect to any such amounts withheld. For the avoidance of doubt, notwithstanding anything to the contrary herein, if by reason of
any agreement with the U.S. Internal Revenue Service in connection with Sections 1471-1474 of the U.S. Internal Revenue Code and the U.S.
Treasury regulations there