Company: LLOBF
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0000950103-25-002401
Chunk: 192

Company: Lloyds Banking Group plc
Filing Date: 2025-02-25
Form: 424B2
Chunk 192
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. Each time that capital securities are issued, a prospectus supplement will be filed with the SEC, which you should read carefully. The prospectus supplement will summarize specific financial terms of your security and may contain additional terms of those capital securities. The terms presented here, together with the terms contained in the prospectus supplement, will be a description of the material terms of the capital securities, but if there is any inconsistency between the terms presented here and those in the prospectus supplement, those in the prospectus supplement will apply and will replace those presented here. Therefore, the statements we make below in this section may not apply to your capital security. Capital securities will be issued under an indenture. The indenture is a contract between us and The Bank of New York Mellon, as trustee. The indenture does not limit our ability to incur additional indebtedness, including the issuance of further capital securities. You should also read the indenture and any related supplemental indenture establishing such capital securities, which we have filed with the SEC as exhibits to the registration statement of which this prospectus is a part.

General

Capital securities mean our subordinated convertible
debt securities mandatorily convertible into our ordinary shares on the occurrence of certain events. The capital securities are not deposits
and are not insured or guaranteed by the U.S. Federal Deposit Insurance Corporation or any other government agency of the U.S. or the
U.K.

We may issue capital securities in one or more
series. The relevant prospectus supplement for any particular series of capital securities will describe the terms of the offered capital
securities, including some or all of the following terms:

·the specific designation, authorized denomination and aggregate principal amount of the capital securities;

·whether the capital securities are intended to qualify for regulatory capital treatment as additional tier 1 capital or otherwise;

·whether such capital securities will be dated capital securities with a specified maturity date or undated capital securities with
no specified maturity date;

·the annual interest rate or rates, or how to calculate the interest rate or rates;

·the date or dates from which interest, if any, will accrue or the method, if any, by which such date or dates will be determined;

·whether the payment of interest can or must be deferred or cancelled in certain circumstances or at our option, whether the payment
of principal can be deferred and the subordination terms;

·the price or prices at which they will be issued;

·whether and how the capital securities may or must be converted into our ordinary shares or any