Company: LLOBF
Filing Date: 2025-10-29
Form Type: 424B2
Source: 0000950103-25-013799
Chunk: 54

Company: Lloyds Banking Group plc
Filing Date: 2025-10-29
Form: 424B2
Chunk 54
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 Senior Notes, each
holder and each beneficial owner shall be deemed to have (i) consented to the exercise of any U.K. bail-in power as it may be imposed
without any prior notice by the relevant U.K. resolution authority of its decision to exercise such power with respect to the Senior Notes
and (ii) authorized, directed and requested 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.

Upon the exercise of the U.K. bail-in power by
the relevant U.K. resolution authority with respect to the Senior Notes, we shall provide a written notice to DTC as soon as practicable
regarding such exercise of the U.K. bail-in power for purposes of notifying holders and beneficial owners of such occurrence. We shall
also deliver a copy of such notice to the Trustee for information purposes. Any delay or failure by us in delivering the notices referred
to in this paragraph shall not affect the validity and enforceability of the U.K. bail-in power.

For a discussion of certain risk factors relating
to the U.K. bail-in power, see “Risk Factors—Risks relating to the Senior Notes”.

Events of Default; Default; Limitation of Remedies

Events of Default

An “Event of Default” with respect
to a series of Senior Notes shall result if:

| · | a court of competent jurisdiction makes an order which is not successfully appealed within 30 days; or |

| · | an effective shareholders’ resolution is validly adopted, |

for the winding-up of LBG, other than under or in connection
with a scheme of amalgamation or reconstruction not involving a bankruptcy or insolvency.

If an Event of Default occurs, the Trustee or
the holder or holders of at least 25% in aggregate principal amount of the outstanding notes of such series of Senior Notes may declare
to be due and payable immediately in accordance with the terms of the Indenture the principal amount of, and accrued but unpaid interest
thereon, if any, and any Additional Amounts (as defined below), on the Senior Notes of that series. However, after this declaration but
before the Trustee obtains a judgment or decree for payment of money due, the