Obbligazione Llyods Bank 0% ( XS2367214850 ) in GBP

Llyods Bank

100 GBP ⇌

Regno Unito

XS2367214850 ( in GBP )

08/08/2031

Prospetto opuscolo dell'obbligazione Lloyds Bank XS2367214850 en GBP 0%, scadenza 08/08/2031

100 000 GBP

1 750 000 000 GBP

Lloyds Banking Group è una delle maggiori istituzioni finanziarie del Regno Unito, offrendo una vasta gamma di servizi bancari al dettaglio e commerciali.

The Obbligazione issued by Llyods Bank ( United Kingdom ) , in GBP, with the ISIN code XS2367214850, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 08/08/2031

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

FINAL TERMS
6 August 2021
Lloyds Bank plc
Legal entity identifier (LEI): H7FNTJ4851HG0EXQ1Z70
Issue of Regulated £1,750,000,000 Series 2021-3 Floating Rate Covered Bonds due August 2031
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
UK MiFIR 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 Covered Bonds has led to the conclusion that: (i) the target market for the Covered Bonds is only eligible
counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (COBS), and professional clients, as
defined in Regulation (EU) No. 600/2014 as amended and as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 (UK MiFIR); 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 the FCA Handbook Product Intervention and Product Governance
Sourcebook (the UK MiFIR Product Governance Rules) 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 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 (EU) 2016/97, as amended (the Insurance Distribution Directive), 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 (as amended, the PRIIPs Regulation) for offering
or selling the Covered Bonds or otherwise making the Covered Bonds available to retail investors in the EEA has been
prepared and therefore offering or selling the Covered Bonds or otherwise making the Covered Bonds available to any
retail investor in the EEA may be unlawful under the PRIIPs Regulation.
IMPORTANT PROHIBITION OF SALES TO UK RETAIL INVESTORS The Covered Bonds 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 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 (8) of Article 2 of Regulation (EU) No. 2017/565 as amended and as it
forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the EUWA); or (ii) a
customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the FSMA) and any
rules or regulations made under the FSMA to implement Directive (EU) 2016/97 as amended, where that customer
would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No. 600/2014 as
amended and as it forms part of UK domestic law by virtue of the EUWA (UK MiFIR). Consequently no key
information document required by Regulation (EU) No. 1286/2014 as amended and as it forms part of UK domestic law
by virtue of the EUWA (the UK PRIIPs Regulation) for offering or selling the Covered Bonds or otherwise making
the Covered Bonds available to retail investors in the UK has been prepared and therefore offering or selling the
Covered Bonds or otherwise making the Covered Bonds available to any retail investor in the UK may be unlawful
under the UK 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 2 July 2021 and the supplemental prospectus dated 30 July 2021 which
constitutes a base prospectus (the Prospectus) for the purposes of the Regulation (EU) 2017/1129 as amended and as it
forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the EUWA) (the UK
Prospectus Regulation). This document constitutes the Final Terms of the Covered Bonds described herein for the
purposes of Article 5.4 of the UK Prospectus Regulation and must be read in conjunction with such Prospectus in order
to obtain all the relevant information. Copies of the Prospectus and the supplemental prospectus dated 30 July 2021, are

1

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

published on the website of the London Stock Exchange and 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 and have been published on the Regulatory News
Service operated by the London Stock Exchange at www.londonstockexchange.com/exchange/prices-
andnews/news/market-news/market-news-home.html..

1.
(i)
Issuer:
Lloyds Bank plc
(ii)
LLP:
Lloyds Bank Covered Bonds LLP
2.
(i)
Series Number:
2021-3

(ii)
Tranche Number:
1
(iii)
Date on which the Covered Bonds will Not Applicable
be consolidated and form a single
Series;
3.
Specified Currency or Currencies:
Sterling (£)
4.
Aggregate Nominal Amount of Covered Bonds £1,750,000,000
admitted to trading:
(i)
Series:
£1,750,000,000
(ii)
Tranche:
£1,750,000,000
5.
Issue Price:
100 per cent. of the aggregate nominal amount
6.
(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
7.
(i)
Issue Date:
9 August 2021
(ii)
Interest Commencement Date:
Issue Date
(iii)
A$ Record Date:
Not Applicable
8.
(i)
Final Maturity Date:
Interest Payment Date falling in or nearest to 8 August
2031
(ii)
Extended Due for Payment Date of
Interest Payment Date falling in or nearest to 8 August
Guaranteed Amounts corresponding to
2032
the Final Redemption Amount under the
Covered Bond Guarantee:
9.
Interest Basis:
SONIA +0.42 per cent. Floating Rate
10.
Redemption/Payment Basis:
100 per cent. of the nominal value
11.
Change of Interest or Redemption/Payment Not Applicable.
Basis:
12.
Put/Call Options:
Not Applicable
13.
Date Board of approval for issuance of Covered 26 November 2020 in respect of the Issuer and 3 August
Bonds and Covered Bond Guarantee obtained:
2021 in respect of the LLP
14.
Listing:
London
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.
Fixed Rate Covered Bond Provisions
Not Applicable
16.
Floating Rate Covered Bond Provisions
Applicable

2

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

(i)
Specified Period(s)/Specified Interest Monthly in arrear, payable on 8th day of each month,
Payment Date(s):
commencing on 8 September 2021, up to and including
the Extended Due for Payment Date, all subject to the
Business Day Convention (short first interest period).
(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 Overnight Rate
- Calculation Method
Compounded Daily
- Reference Rate:
SONIA +0.42 per cent. Floating Rate
- Relevant Financial Centre:
London
- Interest Determination Date(s):
Fifth Business Day prior to the end of each Interest Period
- Relevant Screen Page:
Reuters Screen SONIA Page (or any replacement thereto)
- Relevant Time:
9:00 a.m.
- Observation Method:
Lag
- Observation Look-back Period:
5 Business Days
- D:
365
(vii)
ISDA Determination:
Not Applicable
(viii)
BBSW Determination:
Not Applicable
(ix)
Margin(s):
+0.42 per cent. per annum
(x)
Minimum Rate of Interest:
Zero per cent. per annum
(xi)
Maximum Rate of Interest:
Not Applicable
(xii)
Day Count Fraction:
Actual/365 (Fixed), adjusted
17.
Zero Coupon Covered Bond Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
18.
Issuer Call Option
Not Applicable
19.
Investor Put Option
Not Applicable
20.
Final Redemption Amount
£1,000 per Calculation Amount
21.
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
22.
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

3

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

after an Exchange Event
23.
New Global Covered Bond:
Yes
24.
Additional Financial Centre(s) or other special Not Applicable
provisions relating to payment dates:
25.
Talons for future Coupons or Receipts to be Yes
attached to Definitive Covered Bonds (and dates
on which such Talons mature):
26.
Details relating to Instalment Covered Bonds:

Instalment Amount(s):
Not Applicable
Instalment Date(s):
Not Applicable
27.
Redenomination:
Not Applicable

Signed on behalf of Lloyds Bank plc
Signed on behalf of Lloyds Bank Covered Bonds LLP

By: Gavin Parker
By: Tracey Hill
Duly authorised
Duly authorised

06 August 2021 | 10:22:49 BST

4

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

PART B -- OTHER INFORMATION

1.
LISTING

(i)
Admission to trading:
Application is expected to be made by the Issuer (or on its
behalf) for the Covered Bonds to be admitted to trading on
the London Stock Exchange's main market and to the
Official List of the Financial Conduct Authority with
effect from on or about 9 August 2021
(ii)
Estimate of total expenses related to £5,515
admission to trading:
2.
RATINGS

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

Fitch: AAA
(endorsed by Fitch Ratings Ireland Limited)

Moody's: Aaa
(endorsed by Moody's Deutschland GmbH)

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.
Lloyds Bank Corporate Markets plc and its 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:
XS2367214850
(ii)
Common Code:
236721485
(iii)
CFI Code:
As set out on the website of the Association of National
Numbering Agencies (ANNA) or alternatively sourced
from the responsible National Numbering Agency that
assigned the ISIN
(iv)
FISN:
As set out on the website of the Association of National
Numbering Agencies (ANNA) or alternatively sourced
from the responsible National Numbering Agency that
assigned the ISIN
(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, S.A. and the
relevant identification number(s):
(vii)
Intended to be held in a manner which No. Whilst the designation is specified as "no" at the date
would allow Eurosystem eligibility:
of these Final Terms, should the Eurosystem eligibility
criteria be amended in the future such that the Covered
Bonds are capable of meeting them the Covered Bonds
may then be deposited with one of the ICSDs as common
safekeeper. Note that this does not necessarily mean that
the Covered Bonds will then be recognised as eligible
collateral for Eurosystem monetary policy and intraday
credit operations by the Eurosystem at any time during

5

DocuSign Envelope ID: E1AC4166-31A2-40F2-A6A0-45D693272CEC

their life. Such recognition will depend upon the ECB
being satisfied that Eurosystem eligibility criteria have
been met.
5.
YIELD (Fixed Rate Covered Bonds only)

Indication of yield:
Not Applicable
6.
RELEVANT BENCHMARKS
SONIA is provided by the Bank of England. As at the
date hereof, the Bank of England does not appear in the

register of administrators and benchmarks established
and maintained by Financial Conduct Authority
pursuant to Article 36 of the UK Benchmark Regulation.

7.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i)
Reasons for the offer
See "Use of Proceeds" in the Prospectus

(ii)
Estimated net proceeds:
£1,750,000,000

(iii)
Estimated total expenses:
£5,515

8.
DISTRIBUTION

(i)
Method of Distribution:
Syndicated
(ii)
If syndicated:

(a)
Names of Dealers:
Lloyds
Bank
Corporate
Markets
plc
-
213800MBWEIJDM5CU638
(b)
Stabilising Manager(s) (if Not Applicable
any):
(iii)
Date of Subscription Agreement:
6 August 2021
(iv)
If non-syndicated, name of Dealer:
Not Applicable
(v)
U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA D
(vi)
Prohibition of Sales to EEA Retail Applicable
Investors.
(vii)
Prohibition of Sales to UK Retail Applicable
Investors.

6