By Angela McDaniels
Tacoma, Wash., April 23 - Lloyds TSB Bank plc priced $25 million of senior fixed-to-floored floating-rate notes due Oct. 27, 2014, according to a 424B5 filing with the Securities and Exchange Commission.
Barclays Capital Inc. is the agent.
The interest rate is 3% for the first year. Beginning April 27, 2013, the interest rate will be Libor plus 150 basis points, subject to a minimum rate of 2% per year. Interest is payable quarterly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to the settlement date but is not required to do so.
| Issuer: | Lloyds TSB Bank plc
|
| Guarantor: | Lloyds Banking Group plc
|
| Issue: | Senior fixed-to-floored floating-rate notes
|
| Amount: | $25 million
|
| Maturity: | Oct. 27, 2014
|
| Coupon: | 3% for first year; beginning April 27, 2013, Libor plus 150 basis points, subject to floor of 2% per year; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | April 23
|
| Settlement date: | April 27
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.25%
|
| Cusip: | 5394E8AR0
|
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