REG - Lloyds Banking Group - Notification of Redemption

Lloyds BankingAnnouncement

Tue 18:15

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RNS Number : 0751T  Lloyds Banking Group PLC  29 July 2025

 

Lloyds Banking Group plc

 

Redemption of the Outstanding $1,500,000,000 7.5 per cent Fixed Rate Reset
Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities

(ISIN: US539439AU36 / CUSIP: 539439AU3)

 

 

July 29, 2025. Lloyds Banking Group plc (the "Group") announces that it has
issued a notice of redemption for the entire outstanding principal amount of
its $1,500,000,000 7.5 per cent Fixed Rate Reset Additional Tier 1 Perpetual
Subordinated Contingent Convertible Securities (the "Notes"). A notice of
redemption pursuant to Section 2.12 Notice of Redemption of the Second
Supplemental Indenture dated October 10, 2018 governing the Securities 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 September 29, 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 Global
Exchange Market of the Irish Stock Exchange will be cancelled on, or shortly
after, September 29, 2025.

 

The location where Holders may surrender the Notes and obtain payment of the
Redemption Price is The Bank of New York Mellon, 160 Queen Victoria Street.
London EC4V 4LA

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 the holders of the
Notes will cease, except the holders' rights to receive the Redemption Price
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 the
Group 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 escalation of
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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