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UBS to price callable step-up notes with 3.5% initial rate for Lloyds
By Susanna Moon
Chicago, July 7 - Lloyds TSB Bank plc plans to price callable step-up fixed-rate notes due July 27, 2018, according to a 424B5 filing with the Securities and Exchange Commission.
Lloyds Banking Group plc is the guarantor. UBS Securities LLC is the agent.
The coupon is 3.5% for the first three years. It will step up to 4% on July 27, 2014 and to 5.5% on July 27, 2014. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning on July 27, 2014.
The notes will price on July 22 and settle on July 27.
The Cusip number is 5394E8AA7.
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