Lloyds Banking Group PLC — Capital/Financing Update 2017

Mar 31, 2017

Final Terms dated 29 March 2017

Lloyds Bank plc

Issue of CNY 30,000,000 Fixed Rate Notes due March 2022

under the Global Medium Term Note Programme

PART A — CONTRACTUAL TERMS

These Final Terms constitute Issue Terms for the purposes of the Base General Conditions. Terms used herein shall be deemed to be defined as such for the purposes of the Base Conditions set forth in the Prospectus dated 17 May 2016 and the supplements to the Prospectus dated 29 July 2016, 26 October 2016 and 13 March 2017 which together constitute a base prospectus for the purposes of the Prospectus Directive. This document constitutes the final terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such Prospectus as so supplemented. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus as so supplemented. The Prospectus and the supplemental prospectuses are available for viewing at www.londonstockexchange.com/exchange/news/market-news/market-news-home.html and copies may be obtained from Lloyds Bank plc, 25 Gresham Street, London EC2V 7HN.

The expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State) and includes any relevant implementing measure in the Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU.

1. Issuer: Lloyds Bank plc
2. (i) Series Number: WMTN0246
   (ii) Tranche Number 1
3. Specified Currency: Chinese Offshore Renminbi (“CNY”)
4. Aggregate Nominal Amount
   (i) Series: CNY 30,000,000
   (ii) Tranche: CNY 30,000,000
5. Issue Price: 100.00 per cent. of the Aggregate Nominal Amount
6. (i) Specified Denominations: CNY 1,000,000
   (ii) Calculation Amount: CNY 1,000,000
7. (i) Issue Date: 31 March 2017
   (ii) Trade Date: 27 March 2017
8. Maturity Date: 31 March 2022
9. Business Day Convention: Modified Following Business Day Convention (Adjusted)
10. Business Centre(s): London, New York and Hong Kong
11. Calculation Agent: Citibank, N.A., London Branch
12. Waiver of Set-off: Not Applicable
13. Alternative Currency Equivalent: Applicable
    (i) Alternative Currency: United States Dollars (“USD”)
    (ii) Alternative Currency Adjudication: Standard Chartered Bank, London

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Agent:

(iii) Alternative Currency Calculation Agent: Standard Chartered Bank, London
(iv) Number of Rate Calculation Business Days: Two (2)
(v) Rate Calculation Business Days:
- Rate Calculation Business Centre(s): As defined in Alternative Currency Asset Condition 8.2
- Rate Calculation Business Centre(s): New York and Hong Kong
(vi) Maximum Days of Postponement: 25 Hong Kong and New York business days
(vii) Alternative Currency FX Rate:
- Cross Rate: Not Applicable
- (I) ISDA Determination: Applicable
- Settlement Rate Option: Spot USD/CNY (HK) Fixing expressed as the amount of CNY per one USD as appearing on Reuters page
- <CNHFIX>' at approximately 11.30 a.m., Hong Kong time
- (II) FX Price Source Determination: Not Applicable
- (III) Calculation Agent Determination: Not Applicable

14 Synthetic Currency Asset Conditions: Not Applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

15 Fixed Rate Note Provisions: Applicable
- (i) Interest Commencement Date: 31 March 2017
- (ii) Interest Period Date(s): Each Interest Payment Date
- (iii) Interest Payment Date(s): 31 March in each year, from and including 31 March 2018 to and including the Maturity Date
- (iv) Rate(s) of Interest: 5.23 per cent. per annum payable annually in arrear
- (v) Fixed Coupon Amount(s): Not Applicable
- (vi) Broken Amount(s): Not Applicable
- (vii) Day Count Fraction: Actual/365 (Fixed)
- (viii) Business Day Convention: Modified Following Business Day Convention (Adjusted)

16 Floating Rate Note Provisions: Not Applicable
17 Zero Coupon Note Provisions: Not Applicable
18 Index Linked Interest Provisions: Not Applicable
19 Inflation Linked Interest Provisions: Not Applicable
20 Currency Linked Interest Provisions: Not Applicable
21 Commodity Linked Interest Provisions: Not Applicable
22 Rate Linked Interest Provisions: Not Applicable
23 Multi-Asset Basket Linked Interest Provisions: Not Applicable
24 Structured Floating Rate Coupon: Not Applicable

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25 Inverse Floating Rate Coupon Not Applicable
26 Fixed Rate Step-Up/Step-Down Coupon Not Applicable
27 Fixed to Floating Coupon Not Applicable
28 Floating to Fixed Coupon Not Applicable
29 Fixed to Floating Switchable Coupon Not Applicable
30 Floating to Fixed Switchable Coupon Not Applicable
31 Fixed Rate Range Accrual Coupon Not Applicable
32 Floating Rate Range Accrual Coupon Not Applicable
33 Fixed Rate Dual Range Accrual Coupon Not Applicable
34 Floating Rate Dual Range Accrual Coupon Not Applicable
35 Digital Coupon Not Applicable
36 Inflation-Linked Coupon Not Applicable
37 Inflation Protected Coupon Not Applicable
38 Performance Coupon Not Applicable
39 Annualised Performance Coupon Not Applicable

PROVISIONS RELATING TO REDEMPTION

40 Put/Call Options Not Applicable
41 Call Option Not Applicable
42 Put Option Not Applicable
43 Target Auto Redemption Not Applicable
44 Autocall Not Applicable
45 Final Redemption Amount CNY 1,000,000 per Calculation Amount
46 Early Redemption Amount
Early Redemption Amount(s): Par
47 Unwind Costs: Applicable
48 Expenses Not Applicable
49 Index Linked Redemption Provisions Not Applicable
50 Inflation Protected Redemption Provisions Not Applicable
51 Currency Linked Redemption Provisions Not Applicable
52 Commodity Linked Redemption Provisions Not Applicable
53 Rate Linked Redemption Provisions Not Applicable
54 Multi-Asset Basket Linked Redemption Provisions Not Applicable
55 Performance Redemption Not Applicable
56 Performance Plus Downside Not Applicable

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Redemption

57 Performance Plus Conditional Not Applicable
Downside Redemption

58 Absolute Performance Redemption Not Applicable

59 Reverse Convertible Redemption Not Applicable

60 Reverse Convertible Plus Conditional Not Applicable
Downside Redemption

61 Inflation Protected Redemption Not Applicable

62 Dual Currency Redemption Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

63 Form of Notes Bearer Notes - Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes in the limited circumstances specified in the Permanent Global Note

64 New Global Note No

65 Additional Disruption Events Not Applicable

66 Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature) Not Applicable

67 Details relating to Instalment Notes: Not Applicable
amount of each instalment, date on which each payment is to be made

DISTRIBUTION

68 U.S. Selling Restrictions Reg S Category 2; TEFRA D

LISTING AND ADMISSION TO TRADING APPLICATION

These Final Terms comprise the final terms required for issue and admission to trading of the Notes described herein pursuant to the Global Medium Term Note Programme of Lloyds Bank plc and Lloyds Banking Group plc.

Signed on behalf of the Issuer:

By:

Duly authorised

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PART B — OTHER INFORMATION

1 LISTING AND ADMISSION TO TRADING

(i) Listing and admission to trading: Application is expected to be made by the Issuer (or on its behalf) for the Notes to be listed on the Official List of the UK Listing Authority and to be admitted to trading on the regulated market of the London Stock Exchange with effect from the Issue Date.

(ii) Estimate of total expenses related to admission to trading: £300 + VAT

2 RATING

Ratings: The Notes to be issued have not been rated.

3 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in “Selling Restrictions”, so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

4 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer: See ‘Use of Proceeds’ wording in the Offering Circular

(ii) Estimated net proceeds: Not Applicable

(iii) Estimated total expenses: Not Applicable

5 Fixed Rate Notes only — YIELD

Indication of yield

The yield is calculated at the Issue Date on the basis of the Issue Price, using the formula below.

$$P = \frac{C}{r} (1 - (1 + r)^{-n}) + A(1 + r)^{-n}$$

Where:

“P” is the Issue Price of the Notes;

“C” is the annualised Interest Amount;

“A” is the nominal amount of Notes due on redemption;

“n” is time to maturity in years; and

“r” is the annualised yield.

Calculated using the method above, the yield is 5.23 per cent. per annum on the Issue Date. As set out above, the yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.

6 OPERATIONAL INFORMATION

ISIN Code: XS1589881355

Common Code: 158988135

Swiss Securities Number Not Applicable

(Valorennummer):

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WKN Number (Wertpapierkennnummer):	Not Applicable
Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s):	Not Applicable
Delivery:	Delivery against payment
Names and addresses of additional Paying Agent(s) (if any):	Not Applicable
INDEX DISCLAIMER	Not Applicable