New Issue: Lloyds prices $10 million fixed-to-floored floaters via Barclays

By Toni Weeks

San Diego, May 29 - Lloyds TSB Bank plc priced $10 million of senior fixed-to-floored floating-rate notes due Oct. 22, 2014, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays Capital Inc. is the agent.

The interest rate is 3% initially. Beginning July 22, 2013, the interest rate will be Libor plus 150 basis points, subject to the minimum interest rate of 2%. Interest is payable quarterly.

The payout at maturity will be par.

Issuer:	Lloyds TSB Bank plc
Guarantor:	Lloyds Banking Group plc
Issue:	Senior fixed-to-floored floating-rate notes
Amount:	$10 million
Maturity:	Oct. 22, 2014
Coupon:	3% initially; beginning July 22, 2013, Libor plus 150 basis points, subject to minimum interest rate of 2% per year; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	May 29
Settlement date:	June 22
Agent:	Barclays Capital Inc.
Fees:	1.85%
Cusip:	5394E8AU3

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