By Susanna Moon
Chicago, July 27 - Lloyds TSB Bank plc priced $34 million of floating-rate notes due July 28, 2026, according to a 424B5 filing with the Securities and Exchange Commission.
Barclays Capital Inc. is the agent. Lloyds Banking Group plc is the guarantor.
The coupon will be 5% for the first seven years. It will step up to 5.5% on July 28, 2018, to 7.25% on July 28, 2021 and to 10% on July 28, 2024. Interest is payable semiannually.
The notes are callable at par after seven years.
The payout at maturity will be par.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $34 million
|
| Maturity: | July 28, 2026
|
| Coupon: | 5% initially; steps up to 5.5% on July 28, 2018, to 7.25% on July 28, 2021 and to 10% on July 28, 2024; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on each interest date beginning July 28, 2018
|
| Pricing date: | July 25
|
| Settlement date: | July 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 5394E8AB5
|
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