Redemption of 2.438% Senior Callable
Fixed-to-Fixed Rate Notes due 2026
Lloyds Banking Group
plc
$1,000,000,000 2.438% Senior Callable Fixed-to-Fixed Rate
Notes due 2026 (CUSIP: 539439AV1*, ISIN: US539439AV19, Common Code:
211390930)
December 19, 2024. Lloyds
Banking Group plc (the "Group") announces that it has issued a
notice of redemption for the entire outstanding principal amount of
its 2.438 % Senior Callable Fixed-to-Fixed Rate Notes due 2026 (the
"Notes"). A notice of
redemption pursuant to the terms of the Senior Debt Securities
Indenture dated July 6, 2010 as amended and supplemented by the
Tenth Supplemental Indenture dated February 5, 2020 governing the
Notes (the "Indenture) has
been distributed to The Bank of New York Mellon, acting through its
London Branch, as Trustee (the "Trustee").
The outstanding Notes will be
redeemed on February 5, 2025 (the "Redemption Date") at an amount equal to
100% of their principal amount, together with any accrued but
unpaid interest to, but excluding, the Redemption Date (the
"Redemption Price").
Accordingly, the listing of the Notes on the New York Stock
Exchange will be cancelled on, or shortly after, February 5,
2025.
The location where Holders may
surrender the Notes and obtain payment of the Redemption Price is
The Bank of New York Mellon, London Branch, 160 Queen Victoria
Street, London EC4V 4LA, United Kingdom, Attn: Corporate Trust
Administration, Email: corpsov4@bnymellon.com
On the Redemption Date, the
Redemption Price will become due and payable and interest on the
Notes will cease to accrue. Before the Redemption Date, the Group
will irrevocably deposit with the Trustee or with a Paying Agent an
amount of money sufficient to pay the total Redemption Price of
each of the Notes. When the Group makes such a deposit, all rights
of holders of the Notes will cease, except the holders' rights to
receive the Redemption Price, but without interest, and the Notes
will no longer be outstanding.
For further information in relation
to the redemption of the Notes, please contact:
Group Corporate Treasury:
Kris Middleton
Head of Term Issuance and Capital
Structuring
Telephone: +44 (0)207 356
1122
Niamh O'Connor
Head of Debt Investor
Relations
Telephone: +44 (0)7350
418011
*This CUSIP number has been assigned
to this issue by a third-party, and is included solely for the
convenience of the Holders of the Notes. Neither Lloyds Banking
Group plc nor the Trustee shall be responsible for the selection or
use of this CUSIP number, nor is any representation made as to its
correctness on the Notes or as indicated in any redemption
notice.
Forward
Looking Statements
This document contains certain
forward-looking statements within the meaning of Section 21E of the
US Securities Exchange Act of 1934, as amended, and section 27A of
the US Securities Act of 1933, as amended, with respect to the
business, strategy, plans and/or results of Lloyds Banking Group
plc together with its subsidiaries (the Group) and its current
goals and expectations. Statements that are not historical or
current facts, including statements about the Group's or its
directors' and/or management's beliefs and expectations, are
forward-looking statements. Words such as, without limitation,
'believes', 'achieves', 'anticipates', 'estimates', 'expects',
'targets', 'should', 'intends', 'aims', 'projects', 'plans',
'potential', 'will', 'would', 'could', 'considered', 'likely',
'may', 'seek', 'estimate', 'probability', 'goal', 'objective',
'deliver', 'endeavour', 'prospects', 'optimistic' and similar
expressions or variations on these expressions are intended to
identify forward-looking statements. These statements concern or
may affect future matters, including but not limited to:
projections or expectations of the Group's future financial
position, including profit attributable to shareholders,
provisions, economic profit, dividends, capital structure,
portfolios, net interest margin, capital ratios, liquidity,
risk-weighted assets (RWAs), expenditures or any other financial
items or ratios; litigation, regulatory and governmental
investigations; the Group's future financial performance; the level
and extent of future impairments and write-downs; the Group's ESG
targets and/or commitments; statements of plans, objectives or
goals of the Group or its management and other statements that are
not historical fact and statements of assumptions underlying such
statements. By their nature, forward-looking statements involve
risk and uncertainty because they relate to events and depend upon
circumstances that will or may occur in the future. Factors that
could cause actual business, strategy, targets, plans and/or
results (including but not limited to the payment of dividends) to
differ materially from forward-looking statements include, but are
not limited to: general economic and business conditions in the UK
and internationally; acts of hostility or terrorism and responses
to those acts, or other such events; geopolitical unpredictability;
the war between Russia and Ukraine; the conflicts in the Middle
East; the tensions between China and Taiwan; political instability
including as a result of any UK general election; market related
risks, trends and developments; changes in client and consumer
behaviour and demand; exposure to counterparty risk; the ability to
access sufficient sources of capital, liquidity and funding when
required; changes to the Group's credit ratings; fluctuations in
interest rates, inflation, exchange rates, stock markets and
currencies; volatility in credit markets; volatility in the price
of the Group's securities; tightening of monetary policy in
jurisdictions in which the Group operates; natural pandemic and
other disasters; risks concerning borrower and counterparty credit
quality; risks affecting insurance business and defined benefit
pension schemes; changes in laws, regulations, practices and
accounting standards or taxation; changes to regulatory capital or
liquidity requirements and similar contingencies; the policies and
actions of governmental or regulatory authorities or courts
together with any resulting impact on the future structure of the
Group; risks associated with the Group's compliance with a wide
range of laws and regulations; assessment related to resolution
planning requirements; risks related to regulatory actions which
may be taken in the event of a bank or Group failure; exposure to
legal, regulatory or competition proceedings, investigations or
complaints; failure to comply with anti-money laundering, counter
terrorist financing, anti-bribery and sanctions regulations;
failure to prevent or detect any illegal or improper activities;
operational risks including risks as a result of the failure of
third party suppliers; conduct risk; technological changes and
risks to the security of IT and operational infrastructure,
systems, data and information resulting from increased threat of
cyber and other attacks; technological failure; inadequate or
failed internal or external processes or systems; risks relating to
ESG matters, such as climate change (and achieving climate change
ambitions) and decarbonisation, including the Group's ability along
with the government and other stakeholders to measure, manage and
mitigate the impacts of climate change effectively, and human
rights issues; the impact of competitive conditions; failure to
attract, retain and develop high calibre talent; the ability to
achieve strategic objectives; the ability to derive cost savings
and other benefits including, but without limitation, as a result
of any acquisitions, disposals and other strategic transactions;
inability to capture accurately the expected value from
acquisitions; assumptions and estimates that form the basis of the
Group's financial statements; and potential changes in dividend
policy. A number of these influences and factors are beyond the
Group's control. Please refer to the latest Annual Report on Form
20-F filed by Lloyds Banking Group plc with the US Securities and
Exchange Commission (the SEC), which is available on the SEC's
website at www.sec.gov, for a discussion of certain factors and
risks. Lloyds Banking Group plc may also make or disclose written
and/or oral forward-looking statements in other written materials
and in oral statements made by the directors, officers or employees
of Lloyds Banking Group plc to third parties, including financial
analysts. Except as required by any applicable law or regulation,
the forward-looking statements contained in this document are made
as of today's date, and the Group expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this
document whether as a result of new information, future events or
otherwise. The information, statements and opinions contained in
this document do not constitute a public offer under any applicable
law or an offer to sell any securities or financial instruments or
any advice or recommendation with respect to such securities or
financial instruments.