Lloyds Banking Group to price fixed-rate subordinated notes due 2048

By Devika Patel

Knoxville, Tenn., Jan. 4 – Lloyds Banking Group plc plans to offer fixed-rate subordinated debt securities due 2048, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are non-callable.

BNP Paribas Securities Corp., BofA Merrill Lynch, Goldman Sachs & Co., Lloyds Securities and UBS Securities LLC are the bookrunners.

The London bank and financial services group plans to use the proceeds from this offering for general corporate purposes.

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