Bond Lloyd's Banking plc 0.479% ( XS1878123303 ) in GBP

Issuer Lloyd's Banking plc
Market price 100 %  ▼ 
Country  United Kingdom
ISIN code  XS1878123303 ( in GBP )
Interest rate 0.479% per year ( payment 4 times a year)
Maturity 12/09/2021 - Bond has expired



Prospectus brochure of the bond Lloyds Bank PLC XS1878123303 in GBP 0.479%, expired


Minimal amount 100 000 GBP
Total amount 750 000 000 GBP
Detailed description Lloyds Banking Group plc is a major British multinational banking and financial services corporation headquartered in London, offering a wide range of retail, commercial, and corporate banking services.

The Bond issued by Lloyd's Banking plc ( United Kingdom ) , in GBP, with the ISIN code XS1878123303, pays a coupon of 0.479% per year.
The coupons are paid 4 times per year and the Bond maturity is 12/09/2021









FINAL TERMS
12 September 2018
Lloyds Bank plc
Legal entity identifier (LEI): H7FNTJ4851HG0EXQ1Z70
Issue of Regulated £750,000,000 Series 2018-4 Floating Rate Covered Bonds due September 2021
irrevocably and unconditionally guaranteed as to payment of principal and interest by
Lloyds Bank Covered Bonds LLP
under the 60 billion
Global Covered Bond Programme
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET ­ Solely for the purposes of the manufacturer's product approval process, the target market assessment in
respect of the Covered Bonds has led to the conclusion that: (i) the target market for the Covered Bonds is eligible
counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, MiFID II); and (ii)
all channels for distribution of the Covered Bonds to eligible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the Covered Bonds (a distributor) should take into
consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for
undertaking its own target market assessment in respect of the Covered Bonds (by either adopting or refining the
manufacturers' target market assessment) and determining appropriate distribution channels.
IMPORTANT - PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Covered Bonds are not
intended to be offered, sold or otherwise made available to and, with effect from such date, should not be offered, sold
or otherwise made available to any retail investor in the European Economic Area (EEA). For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II or
(ii) a customer within the meaning of Directive 2002/92/EC (as amended) (IMD), where that customer would not
qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information
document required by Regulation (EU) No 1286/2014 (the PRIIPs Regulation) for offering or selling the Covered
Bonds or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or
selling the Covered Bonds or otherwise making them available to any retail investor in the EEA may be unlawful under
the PRIIPs Regulation.
PART A -- CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the Terms and
Conditions) set forth in the prospectus dated 17 April 2018 and the supplemental prospectuses dated 1 May 2018 and 2
August 2018 (the Prospectus) which constitute a base prospectus for the purposes of the Prospectus Directive
(Directive 2003/71/EC) (as amended, which includes the amendments made by Directive 2010/73/EU to the effect that
such amendments have been implemented in a relevant Member State) (the Prospectus Directive). This document
constitutes the Final Terms of the Covered Bonds described herein for the purposes of Article 5.4 of the Prospectus
Directive and must be read in conjunction with such Prospectus. Full information on the Issuer, the LLP and the offer of
the Covered Bonds is only available on the basis of the combination of these Final Terms and the Prospectus. The
Prospectus is available for viewing at Lloyds Bank plc, 25 Gresham Street, London EC2V 7HN and
www.lloydsbankinggroup.com and copies may be obtained during normal business hours from Lloyds Bank plc, 25
Gresham Street, London EC2V 7HN.
1.
(i)
Issuer:
Lloyds Bank plc
(ii)
LLP:
Lloyds Bank Covered Bonds LLP
2.
(i)
Series Number:
2018-4
(ii)
Tranche Number:
1
(iii)
Series which Covered Bonds will be
Not Applicable
consolidated and form a single Series
with:
(iv)
Date on which the Covered Bonds will
Not Applicable
be consolidated and form a single Series


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with the Series specified above;

3.
Specified Currency or Currencies:
Sterling (£)
4.
Aggregate Amount of Covered Bonds to be
£750,000,000
issued:
5.
Aggregate Nominal Amount of Covered Bonds
£750,000,000
admitted to trading:
(i)
Series:
2018-4
(ii)
Tranche:
1
6.
Issue Price:
100 per cent. of the aggregate nominal amount
7.
(i)
Specified Denominations:
£100,000 and integral multiples of £1,000 in excess
thereof up to and including £199,000. No Covered Bonds

in definitive form will be issued with a denomination
above £199,000
(ii)
Calculation Amount:
£1,000
8.
(i)
Issue Date:
13 September 2018
(ii)
Interest Commencement Date:
Issue Date
9.
(i)
Final Maturity Date:
Interest Payment Date falling in or nearest to 13
September 2021
(ii)
Extended Due for Payment Date of
Interest Payment Date falling in or nearest to 13
Guaranteed Amounts corresponding to
September 2022
the Final Redemption Amount under the
Covered Bond Guarantee:
10.
Interest Basis:
SONIA +0.43 per cent. Floating Rate
11.
Redemption/Payment Basis:
100 per cent. of the nominal value
12.
Change of Interest or Redemption/Payment
From and including the Final Maturity Date to but
Basis:
excluding the Extended Due for Payment Date the
following Interest provisions apply:
Interest Basis: SONIA +0.43 per cent. Floating Rate
Interest Payment Dates: 13th day of each month, from and
including 13 October 2021, to and including the Extended
Due for Payment Date.
Business Days: London.
Business Day Convention: Modified Following Business
Day Convention
Day Count Fraction: Actual/365 (Fixed), adjusted
Screen Rate Determination: Applicable
Interest Determination Dates: Fifth London Banking Day
prior to the end of each Interest Period
Relevant Screen Page: Reuters Screen SONIA Page (or
any replacement thereto)
13.
Put/Call Options:
Not Applicable
14.
Date Board approval for issuance of Covered
29 November 2017 in respect of the Issuer and 10
Bonds and Covered Bond Guarantee obtained:
September 2018 in respect of the LLP
15.
Listing:
London


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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

16.
Fixed Rate Covered Bond Provisions
Not Applicable
17.
Floating Rate Covered Bond Provisions
Applicable
(i)
Specified Period(s)/Specified Interest
13 December, 13 March, 13 June and 13 September in
Payment Date(s):
each year, commencing on 13 December 2018, to and
including the Final Maturity Date. The first Interest
Payment Date shall be 13 December 2018.
(ii)
Business Day Convention:
Modified Following Business Day Convention
(iii)
Additional Business Centre(s):
Not Applicable
(iv)
Manner in which the Rate(s) of Interest
Screen Rate Determination
is/are to be determined:
(v)
Party responsible for calculating the
Not Applicable
Rate(s)
of
Interest
and
Interest
Amount(s) (if not the Principal Paying
Agent):
(vi)
Screen Rate Determination:
Applicable
- Reference
Rate
and
Relevant
Reference Rate: SONIA Floating Rate
Financial Centre:
Relevant Financial Centre: London
- Interest Determination Date(s):
Fifth London Banking Day prior to the end of each
Interest Period
- Relevant Screen Page:
Reuters Screen SONIA Page (or any replacement thereto)
(vii)
ISDA Determination:
Not Applicable
(viii)
Margin(s):
+0.43 per cent. per annum
(ix)
Minimum Rate of Interest:
Zero per cent. per annum
(x)
Maximum Rate of Interest:
Not Applicable
(xi)
Day Count Fraction:
Actual/365 (Fixed), adjusted
18.
Zero Coupon Covered Bond Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
19.
Issuer Call Option
Not Applicable
20.
Investor Put Option
Not Applicable
21.
Final Redemption Amount
£1,000 per Calculation Amount
22.
Early Redemption Amount

Early Redemption Amount(s) payable on
£1,000 per Calculation Amount
redemption
for
taxation
reasons
or
on
acceleration following an Issuer Event of Default
or an LLP Event of Default:
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
23.
Form of Covered Bonds
Bearer Covered Bonds:

Temporary Global Covered Bond exchangeable for a
Permanent Global Covered Bond which is exchangeable
for Bearer Definitive Covered Bonds in definitive form
after an Exchange Event
24.
New Global Covered Bond:
Yes


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PART B -- OTHER INFORMATION
1.
LISTING

(i)
Admission to trading:
Application has been made by the Issuer (or on its behalf)
for the Covered Bonds to be admitted to trading on the
London Stock Exchange's regulated market and to the
Official List of the UK Listing Authority with effect from
the Issue Date
(ii)
Estimate of total expenses related to
£4,560
admission to trading:
2.
RATINGS

Ratings:
The Covered Bonds to be issued have been initially rated:

Fitch: AAA

Moody's: Aaa
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in "Subscription and Sale and Transfer and Selling Restrictions", so far as the Issuer and
LLP are aware, no person involved in the issue of the Covered Bonds has an interest material to the offer.
HSBC Bank plc, Lloyds Bank Corporate Markets plc, RBC Europe Limited and The Toronto-Dominion Bank
and their respective affiliates have engaged and may in the future engage in investment banking and/or
commercial banking transactions with and may perform other services for the Issuer and/or the LLP and/or it
or their affiliates in the ordinary course of business.
4.
OPERATIONAL INFORMATION:
(i)
ISIN:
XS1878123303
(ii)
Common Code:
187812330
(iii)
CFI Code:
DMXXXB
(iv)
FISN:
LLOYDS BANK PLC/VAREMTN 20210913
(v)
(Insert here any other relevant codes
Not Applicable
such as CUSIP AND CINS codes):
(vi)
Any clearing system(s) other than
Not Applicable
Euroclear
Bank
S.A./N.V.
and
Clearstream Banking, société anonyme
and
the
relevant
identification
number(s):
(vii)
Intended to be held in a manner which
Yes. Note that the designation "yes" means that the
would allow Eurosystem eligibility:
Covered Bonds are intended upon issue to be deposited
with one of the ICSDs as common safekeeper and does
not necessarily mean that the Covered Bonds will be
recognised as eligible collateral for Eurosystem monetary
policy and intra-day credit operations by the Eurosystem
either upon issue or at any or all times during their life.
Such recognition will depend upon satisfaction of the
Eurosystem eligibility criteria.
5.
YIELD (Fixed Rate Covered Bonds only)
Not Applicable






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