New Issue: Lloyds prices $5 million capped fixed-to-floating notes via Barclays

By Susanna Moon

Chicago, July 27 - Lloyds TSB Bank plc priced $5 million of senior capped fixed-to-floating notes due July 28, 2016, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays Capital Inc. is the agent. Lloyds Banking Group plc is the guarantor.

The coupon will be 2.85% for the first two years. After that, it will be Libor plus 150 basis points, up to a maximum rate of 7%. Interest is payable quarterly.

The payout at maturity will be par.

Issuer:	Lloyds TSB Bank plc
Issue:	Senior capped fixed-to-floating notes
Amount:	$5 million
Maturity:	July 28, 2016
Coupon:	2.85% initially; after June 28, 2013, Libor plus 150 bps, capped at 7%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	July 25
Settlement date:	July 28
Agent:	Barclays Capital Inc.
Fees:	0.4%
Cusip:	5394E8AH2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.