New Issue: Lloyds prices $3 million floating-rate notes linked to 30-year CMS rate

By Jennifer Chiou

New York, March 27 - Lloyds Bank plc priced $3 million of floating-rate notes due March 27, 2024 linked to the 30-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.

The interest rate will be 76% of the 30-year CMS rate, subject to a minimum interest rate of 2% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Barclays is the agent.

Issuer:	Lloyds Bank plc
Issue:	Floating-rate notes
Underlying asset:	30-year CMS rate
Amount:	$3 million
Maturity:	March 27, 2024
Coupon:	76% of the 30-year CMS rate, subject to minimum of 2% per year; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	March 24
Settlement date:	March 27
Agent:	Barclays
Fees:	1.5%
Cusip:	5394E8CJ6

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