By Angela McDaniels
Tacoma, Wash., July 20 - Lloyds TSB Bank plc priced an additional $4 million of callable six-month Libor and S&P 500 index range accrual notes due July 20, 2032, according to a 424B5 filing with the Securities and Exchange Commission.
This brings the total issue size to $5 million. The original $1 million of notes priced July 5.
Morgan Stanley & Co. LLC is the agent.
The interest rate is 8.25% per year multiplied by the proportion of days on which the index closes at or above 990 and six-month Libor is 7% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning July 29, 2017, the notes will be callable at par on any interest payment date.
| Issuer: | Lloyds TSB Bank plc
|
| Guarantor: | Lloyds Banking Group plc
|
| Issue: | Range accrual notes
|
| Underlyings: | Six-month Libor and S&P 500 index
|
| Amount: | $5 million, increased from $1 million
|
| Maturity: | July 20, 2032
|
| Coupon: | 8.25% per year multiplied by proportion of days on which index closes at or above 990 and six-month Libor is 7% or less; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from July 29, 2017 onward
|
| Pricing date: | July 5
|
| Upsized: | July 18
|
| Settlement date: | July 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 5394E8BA6
|
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