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Lloyds plans to price callable step-up notes due 2032 via Barclays
By Susanna Moon
Chicago, July 13 - Lloyds TSB Bank plc plans to price senior callable step-up fixed-rate notes due July 23, 2032, according to a 424B5 filing with the Securities and Exchange Commission.
Barclays Capital Inc. is the agent.
The coupon will be 4.125% to 4.5% for the first 12 years, with the exact rate to be set at pricing, stepping up to 6.25% on July 23, 2024, to 7.25% on July 23, 2026 and to 8.25% on July 23, 2029. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning July 23, 2022.
The notes are expected to price July 19 and settle July 23.
The Cusip number is 5394E8BE8.
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