By Susanna Moon
Chicago, July 13 - Lloyds TSB Bank plc priced $15 million of callable step-up fixed-rate notes due July 28, 2026, according to a 424B5 filing with the Securities and Exchange Commission.
Lloyds Banking Group plc is the guarantor. Bank of America Merrill Lynch is the agent.
The coupon is 5% for the first 10 years and 6.5% after that until maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after three years.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $15 million
|
| Maturity: | July 28, 2026
|
| Coupon: | 5% for 10 years and 6.5% after that; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 28, 2014
|
| Pricing date: | July 11
|
| Settlement date: | July 28
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 5394E8AE9
|
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