By Susanna Moon
Chicago, July 16 - Lloyds TSB Bank plc priced $20.51 million of callable step-up fixed-rate notes due July 19, 2027, according to a 424B5 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The coupon will be 4.12% for the first five years, stepping up to 5.12% for years six through 10 and to 6.12% after that until maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after five years.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $20,509,000
|
| Maturity: | July 19, 2027
|
| Coupon: | 4.12% initially, stepping up to 5.12% for years six through 10 and 5.12% for years 11 through 15; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 19, 2017
|
| Pricing date: | July 12
|
| Settlement date: | July 19
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 1.5%
|
| Cusip: | 5394E8AZ2
|
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