New Issue: Lloyds sells $5 million fixed-to-floaters with 3% initial rate, 2.25% floor via Barclays

By Susanna Moon

Chicago, March 21 - Lloyds TSB Bank plc priced $5 million of senior fixed-to-floored floating notes due April 13, 2015, according to a 424B5 filing with the Securities and Exchange Commission.

The coupon will be 3% for the first year. After that, interest will be Libor plus 150 basis points, with a minimum rate of 2.25%. Interest is payable quarterly.

The payout at maturity will be par.

Barclays Capital Inc. is the agent.

Issuer:	Lloyds TSB Bank plc
Guarantor:	Lloyds Banking Group plc
Issue:	Senior fixed-to-floored floating notes
Amount:	$5 million
Maturity:	April 13, 2015
Coupon:	3% initially; beginning April 13, 2013, Libor plus 150 basis points, floor of 2.25%; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	March 21
Settlement date:	April 13
Agent:	Barclays Capital Inc.
Fees:	1.25%
Cusip:	5394E8AM1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.