Obligation Llyods Bank 0.42% ( XS2112332494 ) en GBP

Llyods Bank

100 % ▼

Royaume-Uni

XS2112332494 ( en GBP )

0.42% par an ( paiement trimestriel )

02/02/2023 - Obligation échue

Prospectus brochure de l'obligation Lloyds Bank XS2112332494 en GBP 0.42%, échue

100 000 GBP

1 000 000 000 GBP

Lloyds Banking Group est une société financière britannique fournissant des services bancaires de détail, commerciaux et de gestion de patrimoine à travers ses marques, dont Lloyds Bank, Halifax et Bank of Scotland.

L'Obligation émise par Llyods Bank ( Royaume-Uni ) , en GBP, avec le code ISIN XS2112332494, paye un coupon de 0.42% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 02/02/2023

FINAL TERMS
31 January 2020
Lloyds Bank plc
Legal entity identifier (LEI): H7FNTJ4851HG0EXQ1Z70
Issue of Regulated £1,000,000,000 Series 2020-1 Floating Rate Covered Bonds due February 2023
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counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended or superseded,
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 AND UK 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 or in the United Kingdom
(the 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 (EU) 2016/97 (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 or superseded, the PRIIPs Regulation) for offering or selling the Covered Bonds or otherwise making them
available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the Covered
Bonds or otherwise making them available to any retail investor in the EEA or in the UK 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 8 May 2019 and the supplemental prospectuses dated 31 July 2019, 10
September 2019 and 1 November 2019 which constitutes a base prospectus for the purposes of the Prospectus Directive
(Directive 2003/71/EC) (as amended or superseded, 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:
2020-1

(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

1

be consolidated and form a single Series
with the Series specified above;
3.
Specified Currency or Currencies:
Sterling (£)
4.
Aggregate Amount of Covered Bonds to be £1,000,000,000
issued:
5.
Aggregate Nominal Amount of Covered Bonds
admitted to trading:
(i)
Series:
£1,000,000,000
(ii)
Tranche:
£1,000,000,000
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:
3 February 2020
(ii)
Interest Commencement Date:
Issue Date
(iii)
A$ Record Date:
Not Applicable
9.
(i)
Final Maturity Date:
Interest Payment Date falling on or nearest to 3 February
2023
(ii)
Extended Due for Payment Date of Interest Payment Date falling on or nearest to 3 February
Guaranteed Amounts corresponding to 2024
the Final Redemption Amount under the
Covered Bond Guarantee:
10.
Interest Basis:
SONIA +0.37 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 +0.37 per cent. Floating Rate
Interest Payment Dates: 3rd day of each month, from and
including 3 March 2023, 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 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

2

D: 365
13.
Put/Call Options:
Not Applicable
14.
Date Board of approval for issuance of Covered 21 November 2019 in respect of the Issuer and 29
Bonds and Covered Bond Guarantee obtained:
January 2020 in respect of the LLP
15.
Listing:
London
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 3 February, 3 May, 3 August and 3 November in each
Payment Date(s):
year (provided however that after the Extension
Determination Date, the Interest Payment Date shall be
monthly), to and including the Final Maturity Date. The
first Interest Payment Date shall be 3 May 2020.
(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 +0.37 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):
+0.37 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
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

3

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 £4,790
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.
Barclays Bank PLC, HSBC Bank plc, Lloyds Bank Corporate Markets plc and RBC Europe Limited and their
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:
XS2112332494
(ii)
Common Code:
211233249
(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 SA/NV 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" simply means that
would allow Eurosystem eligibility:
the 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 recognized 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 the ECB
being satisfied that Eurosystem eligibility criteria have
been met.
5.
YIELD (Fixed Rate Covered Bonds only)
5

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 ESMA pursuant to Article 36
(Register of administrators and benchmarks) of the
Benchmark Regulation.

6