Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 16

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 16
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| Capital Disqualification Event Redemption | We may redeem the Subordinated Notes, in whole but not in part, at any time, at 100% of their principal amount plus accrued and unpaid interest thereon, if any, upon the occurrence of a Capital Disqualification Event (as defined under “Description of the Notes—Subordinated Notes”) as described under “Description of the Notes—Subordinated Notes—Redemption due to a Capital Disqualification Event” in this prospectus supplement. Any such right of redemption will be subject to the conditions set forth under “Description of the Notes—Subordinated Notes—Conditions to Redemption, Purchase, Substitution or Variation” in this prospectus supplement. |

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| Substitution or Variation                     | If a Tax Event or Capital Disqualification Event has occurred, then LBG may, without any requirement for the consent or approval of the holders of the Subordinated Notes, at any time (whether before, on or following the Subordinated Notes Reset Date) either substitute all (but not some only) of the Subordinated Notes for, or vary the terms of the Subordinated Notes so that they remain or, as appropriate, become, Subordinated Notes Compliant Securities (as defined herein), and the Trustee shall agree to such substitution or variation. Upon the expiry of such notice, LBG shall either vary the terms of or substitute the Subordinated Notes, as the case may be. See “Description of the Notes— Subordinated Notes—Substitution or Variation” in this prospectus supplement). Any such right of substitution or variation will be subject to the conditions set forth under “Description of the Notes— Subordinated Notes—Conditions to Redemption, Purchase, Substitution or Variation” in this prospectus supplement. |
| Purchases of the Subordinated Notes           | Subject to applicable law in force at the relevant time, including the Applicable Regulations, we may at any time, and from time to time, purchase Subordinated Notes in the open market or by tender or by private agreement in any manner and at any price or at differing prices. Subordinated Notes purchased or otherwise acquired by us may be (i) held, (ii) resold or (iii) at our sole discretion, surrendered to the Trustee for cancellation (in which case all Subordinated Notes so surrendered will forthwith be cancelled in accordance with applicable law and thereafter may not be re-issued or resold). Any such purchases will be subject to the conditions set forth under “