REG - Lloyds Banking Group - Notice of Redemption

Lloyds BankingAnnouncement

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RNS Number : 7527O  Lloyds Banking Group PLC  27 June 2025

            Redemption of 4.716% Senior Callable Fixed-to-Fixed Rate
Notes due 2026

 

    Lloyds Banking Group plc

 

       $1,250,000,000 4.716% Senior Callable Fixed-to-Fixed Rate Notes due
2026

         (CUSIP: 53944YAT0*, ISIN: US53944YAT01, Common Code:
251980454)

June 27, 2025. Lloyds Banking Group plc (the "Group") announces that it has
issued a notice of redemption for the entire outstanding principal amount of
its 4.716% 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 Fifteenth
Supplemental Indenture dated August 11, 2022 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 August 11, 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, August 11, 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 (mailto: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 (including in relation to tariffs); imposed and
threatened tariffs and changes to global trade policies; 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; 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.

 

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