RBC plans to price capped, floored floating-rate notes for Lloyds

By Toni Weeks

San Diego, July 14 - Lloyds TSB Bank plc plans to price floating-rate notes due July 27, 2018, according to a 424B5 filing with the Securities and Exchange Commission.

Lloyds Banking Group plc is the guarantor. RBC Capital Markets, LLC is the agent.

The coupon will be Libor plus 100 basis points, subject to a maximum interest rate of 7% and a minimum interest rate of 3%. Interest is payable quarterly.

The payout at maturity will be par.

The notes (Cusip: 5394E8AF6) are expected to price July 22 and settle July 27.

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