Bond Lloyds Bank Group 4.5% ( XS2138286229 ) in EUR

Lloyds Bank Group

100 % ▲

United Kingdom

XS2138286229 ( in EUR )

4.5% per year ( payment 1 time a year)

17/03/2030

Prospectus brochure of the bond Lloyds Banking Group XS2138286229 en EUR 4.5%, maturity 17/03/2030

18/03/2026 ( In 90 days )

Lloyds Banking Group is a major British multinational banking and financial services corporation, offering a range of products and services to personal and corporate customers through its various brands, including Lloyds Bank, Halifax, and Bank of Scotland.

The Bond issued by Lloyds Bank Group ( United Kingdom ) , in EUR, with the ISIN code XS2138286229, pays a coupon of 4.5% per year.
The coupons are paid 1 time per year and the Bond maturity is 17/03/2030

MiFID II product governance / Professional investors and ECPs only target market: Solely for the
purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes
has led to the conclusion that: (i) the target market for the Notes 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 Notes to eligible counterparties and professional clients are appropriate. Any person
subsequently offering, selling or recommending the Notes (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 Notes (by either adopting or refining the
manufacturers' target market assessment) and determining appropriate distribution channels.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Notes are not intended to be offered, sold
or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor
in the European Economic Area ("EEA") or in the United Kingdom ("UK"). 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or (ii) a customer within the meaning of Directive 2002/92/EC, as amended or superseded ("IMD"), where that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 Notes or otherwise making them available to retail investors in the EEA
or in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available
to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.
Singapore Securities and Futures Act Product Classification: In connection with Section 309B of the
Securities and Futures Act (Chapter 289) of Singapore (the "SFA") and the Securities and Futures (Capital
Markets Products) Regulations 2018 of Singapore (the "CMP Regulations 2018"), the Company has
determined, and hereby notifies all relevant persons (as defined in Section 309A(1) of the SFA), that the Notes
are prescribed capital markets products (as defined in the CMP Regulations 2018) and are Excluded Investment
Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice
FAA-N16: Notice on Recommendation on Investment Products.

FINAL TERMS
Final Terms dated 11 March 2020
Lloyds Banking Group plc
Legal Entity Identifier (LEI): 549300PPXHEU2JF0AM85
Issue of EUR309,088,000 Dated Subordinated Fixed-to-Floating Rate Notes due 2030
under the £25,000,000,000
Euro Medium Term Note Programme
PART A -- CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions")
contained in the Trust Deed dated 8 April 2019 as supplemented by the supplemental Trust Deed dated 31 July
2019 and set forth in the Prospectus dated 8 April 2019 and the supplemental Prospectuses dated 2 May 2019,
31 July 2019, 10 September 2019, 1 November 2019 and 20 February 2020 which together constitute a base
prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC, as amended or superseded), to
the extent that such amendments have been implemented in the relevant Member State of the European
Economic Area (the "Prospectus Directive"). This document constitutes the Final Terms of the Notes described

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herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such
Prospectus as so supplemented. Full information on the Company and the offer of the Notes is only available
on the basis of the combination of these Final Terms and the Prospectus. The Prospectus and the supplemental
Prospectuses are available for viewing at www.londonstockexchange.com/exchange/news/market-news/market-
news-home.html and copies may be obtained from Lloyds Banking Group plc, The Mound, Edinburgh EH1
1YZ.

1

Issuer:
Lloyds Banking Group plc (the "Company")
2

(i) Series Number:
LBG0012S

(ii) Tranche Number:
1
3

Specified Currency:
Euro ("EUR")
4

Aggregate Nominal Amount:

(i) Series:
EUR309,088,000

(ii) Tranche:
EUR309,088,000
5

Issue Price:
100 per cent. of the Aggregate Nominal Amount
6

(i) Specified Denominations:
EUR100,000 and integral multiples of EUR1,000 in
excess thereof up to and including EUR199,000. No
Notes in definitive form will be issued with a
denomination above EUR199,000

(ii) Calculation Amount:
EUR1,000
7

(i) Issue Date:
16 March 2020

(ii) Interest Commencement Date:
Issue Date
8

Maturity Date:
18 March 2030, subject to adjustment in accordance
with the Business Day Convention specified at
paragraph 19(iv) below.
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Interest Basis:
4.50 per cent. Fixed Rate for the period from (and
including) the Issue Date to (but excluding) 18
March 2025
3 month EURIBOR+ 1.722 per cent. Floating Rate
for the period from (and including) 18 March 2025
to (but excluding) the Maturity Date
See paragraphs 17 and 19 below
10
Redemption Basis:
Redemption at par
11
Change of Interest or
Applicable
Redemption/Payment Basis:
12
Alternative Currency Equivalent:
Not Applicable
13
Put/Call Options:
Call Option (further particulars specified below)

2

14
Status of the Notes:
Dated Subordinated
15
Senior Notes Waiver of Set-off:
Not Applicable
16
Senior Notes Restricted Events of
Not Applicable
Default:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
17
Fixed Rate Note Provisions
Applicable for the period from (and including) the
Issue Date to (but excluding) 18 March 2025

(i) Rate of Interest:
4.50 per cent. per annum payable annually in arrear

(ii) Interest Payment Date(s):
18 March in each year from and including 18 March
2021 (long first Interest Period from and including
the Issue Date to but excluding 18 March 2021) until
and including 18 March 2025.

(iii) Fixed Coupon Amount:
EUR45.00 per Calculation Amount

(iv) Broken Amount(s):
EUR45.25 per Calculation Amount, payable on the
Interest Payment Date falling on 18 March 2021

(v) Day Count Fraction:
Actual/Actual ICMA

(vi) Determination Dates:
Not Applicable

(vii) Business Day Convention:
Following Business Day Convention (Unadjusted).
See Condition 6(h).
18
Fixed Rate Reset Note Provisions
Not Applicable
19
Floating Rate Note Provisions
Applicable for the period from (and including) 18
March 2025 to (but excluding) the Maturity Date

(i) Interest Period(s):
The period beginning on (and including) 18 March
2025 and ending on (but excluding) the next Interest
Payment Date and each successive period beginning
on (and including) an Interest Payment Date and
ending on (but excluding) the next succeeding
Interest Payment Date

(ii) Specified
Interest Payment 18 March, 18 June, 18 September and 18 December
Dates:
in each year from and including 18 June 2025 until
and including 18 March 2030, subject, in each case,
to adjustment in accordance with the Business Day
Convention specified in paragraph 19(iv) below

(iii) Interest Period Date:
Not Applicable

(iv) Business Day Convention:
Modified Following Business Day Convention
(Adjusted)

(v) Business Centre(s):
London

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(vi) Manner in which the Rate(s) of Screen Rate Determination
Interest is/are to be determined:

(vii) Party responsible for calculating Not Applicable
the Rate(s) of Interest and Interest
Amount(s) / Calculation Agent (if
not the Issuing and Paying
Agent):

(viii) Screen Rate Determination:
Applicable Term Rate

-
Calculation Method:
Not Applicable

-
Reference Rate:
3-month EUREURIBOR

-
Interest Determination Date(s): 2 TARGET Business Days prior to the first day in
each Interest Accrual Period

-
Relevant Screen Page:
Reuters EURIBOR01

-
Relevant Time:
11.00 a.m. Brussels time

-
Observation Method:
Not Applicable

-
Observation Look-back Period: Not Applicable

-
D:
Not Applicable

(ix) ISDA Determination:
Not Applicable

(x) Linear Interpolation:
Not Applicable

(xi) Margin:
+ 1.722 per cent. per annum

(xii) Minimum Rate of Interest:
Not Applicable

(xiii) Maximum Rate of Interest:
Not Applicable

(xiv) Day Count Fraction:
Actual/360
20
Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
21
Call Option
Applicable

(i) Optional Redemption Date(s):
18 March 2025 and each Interest Payment Date
thereafter.

(ii) Optional Redemption
EUR1,000 per Calculation Amount
Amount(s):

(iii) If redeemable in part:

(a) Minimum Redemption
Not Applicable
Amount:

(b) Maximum Redemption
Not Applicable
Amount:

(iv) Notice period:
Not less than 15 nor more than 30 days

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PART B OTHER INFORMATION
1

LISTING

(i) Listing:
London

(ii) Admission to trading:
Application has been made for the Notes to be
admitted to trading on the London Stock
Exchange's Regulated Market with effect from 16
March 2020.

(iii) Estimate of total expenses related to
£4,725 plus VAT
admission to trading:
2

RATINGS

Ratings:
The Notes to be issued have been rated:
S & P: BBB-
Moody's: Baa1
Fitch: A-
3

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in "Subscription and Sale", so far as the Company is aware, no person
involved in the issue of the Notes has an interest material to the issue.
4

Fixed Rate Notes only -- YIELD

Indication of yield:
For the period from (and including) the Issue Date
to (but excluding) 18 March 2025, 4.50 per cent.
per annum.
The yield is calculated as at the Issue Date and on
the basis of the Issue Price. It is not an indication
of future yield.

5

Floating Rate Notes only -- HISTORIC INTEREST RATES

Details of historic EURIBOR rates can be obtained from Reuters EURIBOR01.
6

OPERATIONAL INFORMATION

ISIN:
XS2138286229

Common Code:
213828622

CFI:
See the website of the Association of National
Numbering Agencies (ANNA) or alternatively
sourced from the responsible National Numbering
Agency that assigned the ISIN.

FISN:
See the website of the Association of National
Numbering Agencies (ANNA) or alternatively
sourced from the responsible National Numbering
Agency that assigned the ISIN.

Any clearing system(s) other than
Not Applicable.
Euroclear Bank SA/NV and Clearstream

6

Banking S.A. and the relevant
identification number(s):

Delivery:
Delivery free of payment

Names and addresses of additional
Not Applicable
Paying Agent(s) (if any):

Name and address of Calculation Agent:
Citibank, N.A., London Branch
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom

Intended to be held in a manner which
No. Whilst the designation is specified as "no" at
would allow Eurosystem eligibility:
the date of these Final Terms, should the
Eurosystem eligibility criteria be amended in the
future such that the Notes are capable of meeting
them the Notes may then be deposited with one of
the ICSDs as common safekeeper. Note that this
does not necessarily mean that the Notes will then
be recognised as eligible collateral for Eurosystem
monetary policy and intra day credit operations by
the Eurosystem at any time during their life. Such
recognition will depend upon the ECB being
satisfied that Eurosystem eligibility criteria have
been met.

Relevant Benchmarks:
EURIBOR is provided by the European Money
Markets Institute. As at the date hereof, the
European Money Markets Institute appears in the
register of administrators and benchmarks
established and maintained by ESMA pursuant to
Article 36 (Register of administrators and
benchmarks) of the Benchmark Regulation
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DISTRIBUTION

U.S. Selling Restrictions:
Reg S Category 2; TEFRA D

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