By Angela McDaniels
Tacoma, Wash., Aug. 22 - Lloyds TSB Bank plc priced $8.5 million of callable step-up fixed-rate notes due Aug. 28, 2028 via BofA Merrill Lynch, according to a 424B5 filing with the Securities and Exchange Commission.
The interest rate is 3.945% in years one through five, 4.445% in years six through 10 and 5.445% in years 11 through 15. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Aug. 28, 2018, the notes will be callable in whole at par on any interest payment date.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $8.5 million
|
| Maturity: | Aug. 28, 2028
|
| Coupon: | 3.945% in years one through five, 4.445% in years six through 10 and 5.445% in years 11 through 15; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | In whole at par on any interest payment date from Aug. 28, 2018 onward
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 28
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 5394E8BU2
|
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