Lloyds Banking Group PLC — Capital/Financing Update 2018

Jul 12, 2018

PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Notes are not intended to be offered, sold or otherwise made available to and 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 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 (as amended, 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 6 July 2018

Lloyds Bank plc

Issue of CAD1,000,000,000 Floating Rate Notes due July 2023
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 April 2018 and the supplemental prospectus dated 26 April 2018 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 Bank 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 prospectus 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 (the "Bank")
2. (i) Series Number: WMTN0263
   (ii) Tranche Number: 1
3. Specified Currency: Canadian dollars ("CAD")
4. Aggregate Nominal Amount: CAD1,000,000,000
5. Issue Price: 100.00 per cent. of the Aggregate Nominal Amount
6. (i) Specified Denominations: CAD200,000 and each integral multiple of the Calculation Amount in excess thereof up to and including CAD399,000

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(ii) Calculation Amount: CAD1,000
7 (i) Issue Date: 11 July 2018
(ii) Trade Date: 26 June 2018
8 Maturity Date: Interest Payment Date falling on or nearest to 11 July 2023
9 Business Day Convention: Modified Following Business Day Convention (Adjusted)
10 Business Centre(s): London and Toronto
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: Issue Date
(ii) Interest Period Dates: Each Interest Payment Date
(iii) Interest Payment Dates: 11 January, 11 April, 11 July and 11 October in each year from and including 11 October 2018 until and including the Maturity Date, subject, in each case, to adjustment in accordance with the Business Day Convention specified in paragraph 15(iv) below
(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: Applicable
- Reference Rate: 3-month CDOR
- Interest Determination Date(s): Issue Date and each Interest Payment Date thereafter
- Relevant Screen Page: Reuters Screen CDOR, 10:00 am Toronto time
(vii) ISDA Determination: Not Applicable
(viii) CMS Rate Determination: Not Applicable
(ix) Linear Interpolation: Not Applicable
(x) Margin(s): + 0.55 per cent. per annum
(xi) Minimum Rate of Interest: 0.00 per cent. per annum
(xii) Maximum Rate of Interest: Not Applicable
(xiii) Day Count Fraction: Actual/365 (Fixed)

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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
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 CAD1,000 per Calculation Amount
45 Early Redemption Amount Par
46 Unwind Costs Not Applicable
47 Expenses Not Applicable

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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
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 Registered Notes – Global Note Certificate
63 New Global Note No
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) Not 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 Not Applicable

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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 11 July 2018.

(ii) Estimate of total expenses related to admission to trading: £3,650

2 RATING

Ratings: The Notes to be issued have been rated:
S&P: A+
Moody's: Aa3
Fitch: A+

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 HISTORIC INTEREST RATES

Details of historic CDOR rates can be obtained from Reuters.

5 OPERATIONAL INFORMATION

ISIN: CA53944VAR02
Common Code: 185254488
CFI: Not Applicable
FISN: Not Applicable
Swiss Securities Number (Valorennummer): Not Applicable
WKN Number (Wertpapierkennnummer): Not Applicable
Any clearing system(s) other than Euroclear Bank SA/NV and Clearstream Banking, S.A. and the relevant identification number(s): CDS Clearing and Depository Services Inc. 100 Adelaide Street West Toronto, Ontario M5H 1S3
CUSIP: 53944VAR0
Delivery: Delivery free of payment
Names and addresses of additional Paying Agent(s) (if any): Not Applicable
Intended to be held in a manner which would allow Eurosystem eligibility: No. Whilst the designation is specified as "no" at the date of these Final Terms, should the

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Eurosystem eligibility criteria be amended in the future such that the Notes are capable of meeting them the Notes may then be deposited with one of the ICSDs as common safekeeper (and registered in the name of a nominee of one of the ICSDs acting as common safekeeper). Note that this does not necessarily mean that the Notes will then be recognised as eligible collateral for Eurosystem monetary policy and intra day credit operations by the Eurosystem at any time during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

Relevant Benchmark:

CDOR is provided by Thomson Reuters. As at the date hereof, Thomson Reuters does not appear in the register of administrators and benchmarks established and maintained by ESMA pursuant to Article 36 (Register of administrators and benchmarks) of the Benchmark Regulation

6 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.

7 INDEX DISCLAIMER

Not Applicable

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