By Toni Weeks
San Diego, Feb. 13 - Lloyds TSB Bank plc priced $24.5 million of fixed-rate step-up callable notes due Feb. 17, 2027, according to a 424B5 filing with the Securities and Exchange Commission.
The coupon will be 5% for the first five years, stepping up to 6.13% on Feb. 17, 2017 and to 8.13% on Feb. 17, 2022. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date on or after Feb. 17, 2017.
Bank of America Merrill Lynch is the agent.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Fixed-rate step-up callable notes
|
| Amount: | $24.5 million
|
| Maturity: | Feb. 17, 2027
|
| Coupon: | 5% initially, stepping up to 6.13% on Feb. 17, 2017 and to 8.13% on Feb. 17, 2022; payable semi-annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Feb. 17, 2017
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 17
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 5394E8AK5
|
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