REG - Lloyds Banking Group - Notice of Redemption

Lloyds BankingAnnouncement

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RNS Number : 2379H  Lloyds Banking Group PLC  02 May 2025

 

Lloyds Banking Group plc

 

Redemption of the €750,000,000 6.375 1  (#_ftn1) per cent. Fixed Rate Reset
Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities

(Common Code: 104354505* / ISIN: XS1043545059)

 

 

May 02, 2025. Lloyds Banking Group plc (the "Group") announces that it has
issued a notice of redemption for the entire principal amount of its
€750,000,000 6.375 per cent. Fixed Rate Reset Additional Tier 1 Perpetual
Subordinated Contingent Convertible Securities (the "Securities"). A notice of
redemption pursuant to Clause 17 of the Trust Deed of the Securities has been
distributed to BNY Mellon Corporate Trustee Services Limited, as trustee (the
"Trustee").

 

The outstanding Securities will be redeemed on June 27, 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 Securities on the Global
Exchange Market of the Irish Stock Exchange will be cancelled on, or shortly
after, June 27, 2025.

 

On the Redemption Date, the Redemption Price will become due and payable and
interest on the Securities 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
Securities. When the Group makes such a deposit, all rights of the holders of
the Securities will cease, except the holders' rights to receive the
Redemption Price and the Securities will no longer be outstanding.

 

For further information in relation to the redemption of the Securities,
please contact:

 

Group Corporate Treasury:

 

Kristofer Middleton

Number: +44 (0) 20 7356 1122

Head of Term Issuance and Capital Structuring

Email: Kristofer.Middleton@lloydsbanking.com
(mailto:Kristofer.Middleton@lloydsbanking.com)

 

Niamh O'Connor

Head of Debt Investor Relations

Email: Niamh.O'Connor@lloydsbanking.com

 

 

 

.

*  This Common Code number has been assigned to this issue by a third party,
and is included solely for the convenience of the holders of the Securities.
Neither the Group nor the Trustee shall be responsible for the selection or
use of this Common Code number, nor is any representation made as to its
correctness on the Securities or as indicated in any redemption notice.

 1  (#_ftnref1) Reset to a fixed coupon equivalent to 5-year Euro Mid Swaps
plus 529 basis points (4.947%) from 27 June 2020 (in line with the terms and
conditions of the Bonds)

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