Lloyds to price range accrual notes on six-month Libor, S&P 500

By Marisa Wong

Madison, Wis., May 14 - Lloyds TSB Bank plc plans to price callable six-month Libor and S&P 500 index range accrual notes due June 8, 2027, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays Capital Inc. is the agent.

Interest will accrue at 8% per year multiplied by the proportion of days on which the index closes at or above 995 and six-month Libor is 6% or less. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning June 8, 2017, the notes will be callable at par on any interest payment date.

The notes (Cusip: 5394E8AS8) are expected to price June 6 and settle June 8.

© 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.