By Jennifer Chiou
New York, March 22 - Lloyds TSB Bank plc priced another $10 million of senior fixed-to-floored floating notes due April 13, 2015, bringing the total amount to $15 million, according to a 424B5 filing with the Securities and Exchange Commission.
The issue amount may be further increased.
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
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Guarantor: | Lloyds Banking Group plc
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Issue: | Senior fixed-to-floored floating notes
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Amount: | $15 million (upsized from original $5 million)
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Maturity: | April 13, 2015
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Coupon: | 3% initially; beginning April 13, 2013, Libor plus 150 basis points, floor of 2.25%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | March 21 for $5 million; March 22 for $10 million
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Settlement date: | April 13
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Agent: | Barclays Capital Inc.
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Fees: | 1.25%
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Cusip: | 5394E8AM1
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