Company: LLOBF
Filing Date: 2025-06-11
Form Type: 424B2
Source: 0000950103-25-007252
Chunk: 71

Company: Lloyds Banking Group plc
Filing Date: 2025-06-11
Form: 424B2
Chunk 71
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 New York Mellon acting through its London Branch, as trustee (the “Trustee”), as amended by an
eleventh subordinated supplemental indenture to be dated as of the Issue Date (the “Eleventh Subordinated Supplemental Indenture”
and, together with the Subordinated Base Indenture, the “Subordinated Indenture”) between us, the Trustee, the Paying Agent
and The Bank of New York Mellon SA/NV, Dublin Branch as Registrar. Book-entry interests in the Subordinated Notes will be issued
in minimum denominations of $200,000 and in integral multiples of $1,000 in excess thereof.

The Bank of New York Mellon, London Branch is
designated as the paying agent. We may at any time designate additional paying agents or rescind the designation of paying agents or approve
a change in the office through which any paying agent acts.

We will issue the Subordinated Notes in fully
registered form. The Subordinated Notes will be represented by one or more global securities in the name of a nominee of The
Depository Trust Company (“DTC”). You will hold beneficial interest in the Subordinated Notes through DTC and its participants. We
expect the Subordinated Notes to be delivered through the facilities of DTC on the Issue Date. For a more detailed summary of the form
of the Subordinated 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 Subordinated Notes through DTC must trade in 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 clearing system and operating procedures of DTC, including those of its indirect participants, 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 Subordinated
Notes, so long as the Subordinated 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 DTC, and secondary market trading activity in
such interests will