By Angela McDaniels
Tacoma, Wash., June 6 - Lloyds TSB Bank plc priced $5 million of 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.
The interest rate is 8% per year multiplied by the proportion of days on which the index closes at or above 995 and six-month Libor is 7% or less. Interest is 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.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Callable six-month Libor and S&P 500 index range accrual notes
|
| Amount: | $5 million
|
| Maturity: | June 8, 2027
|
| Coupon: | 8% per year multiplied by proportion of days on which index closes at or above 995 and six-month Libor is 7% or less; payable quarterly
|
| Price: | Varying prices
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment date from June 8, 2017 onward
|
| Pricing date: | June 6
|
| Settlement date: | June 8
|
| Agent: | Barclays Capital Inc.
|
| Fees: | Up to 5%
|
| Cusip: | 5394E8AV1
|
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