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Lloyds plans callable step-up fixed-rate notes due 2032 via Barclays
By Marisa Wong
Madison, Wis., June 11 - Lloyds TSB Bank plc plans to price callable step-up fixed-rate notes due June 28, 2032, according to a 424B5 filing with the Securities and Exchange Commission.
Barclays Capital Inc. is the agent.
The interest rate will be at least 4.5% for the first 10 years, 6.5% in years 11 through 15 and 8.5% in years 16 through 20. The exact initial interest rate will be set at pricing. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning June 28, 2017, the notes will be callable at par on any interest payment date.
The notes (Cusip: 5394E8AW9) are expected to price June 25 and settle June 28.
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