Lloyds Banking Group PLC — Capital/Financing Update 2017

Apr 20, 2017

PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Notes are not intended, from 1 January 2018, to be offered, sold or otherwise made available to and, with effect from such date, should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU ("MiFID II"); or (ii) a customer within the meaning of Directive 2002/92/EC ("IMD"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation.

Final Terms dated 18 April 2017

Lloyds Bank plc

Issue of EUR 10,000,000 Capped and Floored Floating Rate Notes due April 2025

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 30 March 2017 which constitutes 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. Full information on the Bank and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus is 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 (the "Bank")
2. (i) Series Number: WMTN0248
   (ii) Tranche Number: 1
3. Specified Currency: Euro ("EUR")
4. Aggregate Nominal Amount
   (i) Series: EUR 10,000,000
   (ii) Tranche: EUR 10,000,000
5. Issue Price: 100.00 per cent. of the Aggregate Nominal Amount
   (i) Specified Denominations: EUR 100,000
   (ii) Calculation Amount: EUR 100,000
   (i) Issue Date: 20 April 2017

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(ii) Trade Date: 11 April 2017

8 Maturity Date 14 April 2025

9 Business Day Convention Modified Following Business Day Convention (Adjusted)

10 Business Centre(s) London and TARGET

11 Calculation Agent Citibank, N.A., London Branch

12 Alternative Currency Equivalent Not Applicable

13 Synthetic Currency Asset Conditions Not Applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

14 Fixed Rate Note Provisions Not Applicable

15 Floating Rate Note Provisions Applicable

(i) Interest Commencement Date: 20 April 2017

(ii) Interest Period Date: Each Interest Payment Date

(iii) Interest Payment Dates: 14 January, 14 April, 14 July and 14 October in each year from and including 14 July 2017 to and including the Maturity Date

(iv) Business Day Convention: Modified Following Business Day Convention (Adjusted)

(v) Party responsible for calculating the interest due (if not the Calculation Agent): Not Applicable

(vi) Screen Rate Determination: Not Applicable

(vii) ISDA Determination: Applicable

• Floating Rate Option: EUR-EURIBOR-Reuters

• Designated Maturity: 3 months

• Reset Date: The first day of each Interest Period

(viii) CMS Rate Determination: Not Applicable

(ix) Linear Interpolation: Applicable – the Rate of Interest for the short first Interest Period shall be calculated using Linear Interpolation

(x) Margin(s): 0.00 per cent. per annum

(xi) Minimum Rate of Interest: 0.40 per cent. per annum

(xii) Maximum Rate of Interest: 2.40 per cent. per annum

(xiii) Day Count Fraction: Actual/360

16 Zero Coupon Note Provisions Not Applicable

17 Index Linked Interest Provisions Not Applicable

18 Inflation Linked Interest Provisions Not Applicable

19 Currency Linked Interest Provisions Not Applicable

20 Commodity Linked Interest Provisions Not Applicable

21 Rate Linked Interest Provisions Not Applicable

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22 Multi-Asset Basket Linked Interest Provisions Not Applicable
23 Structured Floating Rate Coupon Not Applicable
24 Inverse Floating Rate Coupon Not Applicable
25 Fixed Rate Step-Up/Step-Down Coupon Not Applicable
26 Fixed to Floating Coupon Not Applicable
27 Floating to Fixed Coupon Not Applicable
28 Fixed to Floating Switchable Coupon Not Applicable
29 Floating to Fixed Switchable Coupon Not Applicable
30 Fixed Rate Range Accrual Coupon Not Applicable
31 Floating Rate Range Accrual Coupon Not Applicable
32 Fixed Rate Dual Range Accrual Coupon Not Applicable
33 Floating Rate Dual Range Accrual Coupon Not Applicable
34 Digital Coupon Not Applicable
35 Inflation-Linked Coupon Not Applicable
36 Inflation Protected Coupon Not Applicable
37 Performance Coupon Not Applicable
38 Annualised Performance Coupon Not Applicable

PROVISIONS RELATING TO REDEMPTION

39 Put/Call Options Not Applicable
40 Call Option Not Applicable
41 Put Option Not Applicable
42 Target Auto Redemption Not Applicable
43 Autocall Not Applicable
44 Final Redemption Amount EUR 100,000 per Calculation Amount
45 Early Redemption Amount
Early Redemption Amount(s): Par
46 Unwind Costs Applicable
47 Expenses Not Applicable
48 Index Linked Redemption Provisions Not Applicable
49 Inflation Protected Redemption Provisions Not Applicable
50 Currency Linked Redemption Provisions Not Applicable
51 Commodity Linked Redemption Provisions Not Applicable
52 Rate Linked Redemption Provisions Not Applicable

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53 Multi-Asset Basket Linked Redemption Provisions
Not Applicable

54 Performance Redemption
Not Applicable

55 Performance Plus Downside Redemption
Not Applicable

56 Performance Plus Conditional Downside Redemption
Not Applicable

57 Absolute Performance Redemption
Not Applicable

58 Reverse Convertible Redemption
Not Applicable

59 Reverse Convertible Plus Conditional Downside Redemption
Not Applicable

60 Inflation Protected Redemption
Not Applicable

61 Dual Currency Redemption
Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

62 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

63 New Global Note
Yes

64 Additional Disruption Events
Not Applicable

65 Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature)
Applicable

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

DISTRIBUTION

67 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.

Signed on behalf of the Bank:

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 Bank (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 Bank 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 Prospectus
   (ii) Estimated net proceeds: Not Applicable
   (iii) Estimated total expenses: Not Applicable

5. HISTORIC INTEREST RATES
   Details of historic EURIBOR can be obtained from Reuters.

6. OPERATIONAL INFORMATION
   ISIN Code: XS1599443527
   Common Code: 159944352
   Swiss Securities Number (Valorennummer): Not Applicable
   WKN Number (Wertpapierkennnummer): A19GDB
   Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, S.A. and the relevant identification number(s): Not Applicable
   Delivery: Delivery against payment
   Names and addresses of additional Paying Agent(s) (if any): Not Applicable

7. ADDITIONAL US FEDERAL INCOME TAX CONSIDERATIONS
   The Notes are not Specified ELIs for purposes of Section 871(m) of the U.S. Internal Revenue Code of 1986.

8. INDEX DISCLAIMER
   Not Applicable

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