Lloyds Bank to price floating-rate notes linked to 30-year CMS rate

By Angela McDaniels

Tacoma, Wash., March 17 - Lloyds Bank plc plans to price floating-rate notes due March 27, 2024 linked to the 30-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.

The interest rate will be 75% to 78% - the exact multiplier will be set at pricing - of the 30-year CMS rate, subject to a minimum interest rate of 2% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

The notes are expected to price March 24 and settle March 27.

The Cusip number is 5394E8CJ6.

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