Lloyds Banking to redeem outstanding 7.625% subordinated notes

By Mary-Katherine Stinson

Lexington, Ky., April 28 – Lloyds Banking Group plc will redeem the entire £135,301,000 outstanding amount of its original £1,494,392,000 of 7.625% fixed-rate reset additional tier 1 perpetual subordinated contingent convertible securities (ISIN: XS1043552188), according to a notice.

The notes will be redeemed at par plus accrued interest on June 27.

Bank of New York Mellon, acting through its London Branch, is the trustee.

The notes will be canceled and delisted from the Dublin Stock Exchange shortly after redemption.

The retail and commercial bank is based in Edinburgh with operational headquarters in London.

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