TIDMLLOY
RNS Number : 4496A
Lloyds Banking Group PLC
23 September 2022
Redemption of 2.907% Senior Callable Fixed-to-Floating Rate
Notes Due 2023
Lloyds Banking Group plc
$2,250,000,000 2.907% Senior Callable Fixed-to- Floating Rate
Notes due 2023
(CUSIP: 539439AP4, ISIN: US539439AP41, Common Code:
171530300)*
September 23, 2022 . Lloyds Banking Group plc (the "Group")
announces that it has issued a notice of redemption for the entire
outstanding principal amount of its 2.907% Senior Callable
Fixed-to-Floating Rate Notes due 2023 (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
Third Supplemental Indenture dated November 7, 2017 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 November 7, 2022 (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, November 7,
2022.
The location where Holders may surrender the Notes and obtain
payment of the Redemption Price is The Bank of New York Mellon, One
Canada Square, London E14 5AL, United Kingdom, Attn: Corporate
Trust Administration, Email: corpsov1@bnymellon.com, Fax: +44 (0)
20 7964 2536.
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:
Liz Padley
Non Bank Entities Treasurer and Head of Capital and Recovery and
Resolution
Telephone: +44 (0)7385 032858
Peter Green
Head of Senior Funding & Covered Bonds, Debt IR and Rating
Agency Management
Telephone: +44 (0)7385 032953
Pascale Dorey
Debt Investor Relations
Telephone: +44 (0)7384 240296
*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 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;
expectations about the impact of COVID-19; 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,
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; market related risks,
trends and developments; risks concerning borrower and counterparty
credit quality; fluctuations in interest rates, inflation, exchange
rates, stock markets and currencies; volatility in credit markets;
volatility in the price of the Group's securities; any impact of
the transition from IBORs to alternative reference rates; the
ability to access sufficient sources of capital, liquidity and
funding when required; changes to the Group's credit ratings; 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; potential changes in dividend
policy; the ability to achieve strategic objectives; insurance
risks; management and monitoring of conduct risk; exposure to
counterparty risk; credit rating risk; tightening of monetary
policy in jurisdictions in which the Group operates; instability in
the global financial markets, including within the Eurozone, and as
a result of ongoing uncertainty following the exit by the UK from
the European Union (EU) and the effects of the EU-UK Trade and
Cooperation Agreement; political instability including as a result
of any UK general election and any further possible referendum on
Scottish independence; operational risks; 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; natural pandemic
(including but not limited to the COVID-19 pandemic) and other
disasters; inadequate or failed internal or external processes or
systems; acts of hostility or terrorism and responses to those
acts, or other such events; geopolitical unpredictability; the war
between Russia and Ukraine; the tensions between China and Taiwan;
risks relating to sustainability and climate change (and achieving
climate change ambitions), including the Group's ability along with
the government and other stakeholders to measure, manage and
mitigate the impacts of climate change effectively; changes in
laws, regulations, practices and accounting standards or taxation;
changes to regulatory capital or liquidity requirements and similar
contingencies; assessment related to resolution planning
requirements; the policies and actions of governmental or
regulatory authorities or courts together with any resulting impact
on the future structure of the Group; 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; projected employee numbers and key person
risk; increased labour costs; assumptions and estimates that form
the basis of the Group's financial statements; the impact of
competitive conditions; and exposure to legal, regulatory or
competition proceedings, investigations or complaints. 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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END
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