Capital issuance

Documentation for our capital securities including prospectuses and pricing supplements.


You must accept the following terms and conditions in order to access the capital issuance content.

  • BEFORE ENTERING THE WEBSITE, PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS THAT GOVERN YOUR ACCESS TO, AND USE OF, THE WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. PLEASE NOTE THAT THE DISCLAIMER SET OUT BELOW MAY BE ALTERED OR UPDATED FROM TIME TO TIME. YOU SHOULD READ IT IN FULL EACH TIME YOU VISIT THE WEBSITE. IF YOU AGREE TO THE TERMS, CLICK 'I AGREE' AT THE BOTTOM OF THIS PAGE TO ENTER THE WEBSITE. IF YOU CLICK 'I DO NOT AGREE' YOU WILL NOT BE ABLE TO ENTER THE WEBSITE.

    Access to and use of the following web pages (the "Website") is conditional upon agreement to and compliance with the terms and conditions of access to the website (the "Terms and Conditions").

    You (the "Client") confirm that (a) you have read and understood the Terms and Conditions and (b) you have understood that the Terms and Conditions may affect your rights. You acknowledge and agree to the Terms and Conditions and agree not to undertake any act or omission that would constitute a breach of these Terms and Conditions. If you are in any doubt about any information or materials made available on the Website, you should seek independent advice.

    Access to and use of the Website

    The Client confirms that it is not located or resident in any jurisdiction in which it would be unlawful to access the information on the Website and its access to the Website is lawful and in accordance with the laws of the jurisdiction in which it is located or resident.

    The materials on the Website are directed only: (1) in the UK, at persons who are "qualified investors" within the meaning of the Regulation (EU) 2017/1129 as it forms part of domestic law of the UK by virtue of the European Union (Withdrawal) Act 2018 ("EUWA") (the "UK Prospectus Regulation"). In addition, in the UK, the Website is only directed to qualified investors who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5)  of the Financial and Services Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom they may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"); and (2) in member states of the European Economic Area ("EEA"), to persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"). 

    The Website or the materials on the Website are not directed at and must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not qualified investors.

    The Website is not intended for retail investors in the EEA, retail investors being persons who are one (or more) of: (i) retail clients (as defined in Point (11) of Article 4(1) of Directive 2014/65/EU, as amended ("MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended or superseded (the "Insurance Distribution Directive"), where that Customer would not qualify as a professional client as defined in Point (10) of Article 4(1) of MiFID II. .  In addition, the Website is not intended for retail investors in the UK, retail investors being persons who are one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law of the UK by virtue of the EUWA; or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000, as amended ("FSMA") and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA.

    Consequently, no key information document (KID) required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") or  the PRIIPs Regulation as it forms part of domestic law of the UK by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling securities referred to on the Website (the Securities) or otherwise making them available to Retail Investors in the EEA or in the UK has been or will be prepared by Lloyds Banking Group plc or any of its subsidiaries or affiliates (together, "Lloyds Banking Group") and therefore offering or selling the Securities or otherwise making them available to any Retail Investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation or the UK PRIIPs Regulation. 

    The materials on the Website are intended for use only by users in compliance with the laws of all applicable jurisdictions and may not be published, copied or distributed to any other person. The Client’s access to this Website may be restricted by applicable law, and it must seek its own advice in relation to and observe any such restrictions.

    Nothing in the Website is, or is to be construed as, an offer of or invitation to subscribe for, underwrite or purchase securities in any jurisdictions in which such offer is or may be prohibited, restricted or subject to any requirement for filing, authorisation, licence or consent.

    The Client agrees that it has not made and will not make any offer of the Securities other than in accordance with applicable law and regulation.

    Nothing in the Website constitutes an offer of securities for sale, or the solicitation of an offer to purchase securities, in the United States or any other jurisdiction where such an offer or solicitation would be unlawful. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the Securities are registered under the Securities Act, or issued pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offer of the Securities in the United States.

    By accessing the Website, the Client represents, warrants, agrees with and undertakes that: (a) it will not offer, sell or recommend or otherwise make available the Securities to Retail Investors in the EEA or in the UK  for which no KID has been produced; and (b) the Client will at all times comply with all applicable laws, regulations and regulatory guidance (whether inside or outside the EEA or the UK) relating to the promotion, offering, distribution and/or sale of the Securities (or any beneficial interests therein), including (without limitation) any such laws, regulations and regulatory guidance relating to determining the appropriateness and/or suitability of an investment in the Securities (or any beneficial interests therein) by investors in any relevant jurisdiction. Lloyds Banking Group shall have no liability to the Client, to any EEA Retail Investors or any UK Retail Investors for distribution of the Securities by the Client to any such Retail Investors without a KID.  

    The Client will use the Website solely for its own internal use in accordance with the Terms and Conditions and will not deliver, release, publish or distribute to any person who is located or resident in any jurisdiction in which it would be unlawful to do.

    The Client will not engage in any activities related to the Website that are contrary to applicable law or regulation or the terms of any agreements between the Client and Lloyds Banking Group.

    The Website may contain other proprietary notices and copyright information, the terms of which must be observed and followed.

    Further Acknowledgements and Disclaimers

    The Client acknowledges and agrees to the following:

    No duty to update or correct materials. The materials included on the Website are historical in nature and only current as of the date of the materials. 

    Any final offering memoranda or other offering materials (each, an "Offering Document") or research reports posted on the Website are Third Party Materials (as defined below) unless produced by Lloyds Banking Group. Third Party Materials are provided solely for the Client's convenience to generally describe the terms of the transaction described therein.

    The Client should not assume that the information contained or incorporated by reference in any document, in any Offering Document or research report on the Website is accurate as of any date other than the respective date set forth therein or the date of the information incorporated therein.

    Offering Documents, research reports and other information contained in the Website may not be distributed (whether in whole or in part) to or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

    Neither Lloyds Banking Group nor any other party has any duty to maintain or update any material on the Website. Historic performance information with regard to any security is no indication of its future performance.

    Changes to materials. Lloyds Banking Group may remove or make changes to the materials available on the Website at any time.

    Third party materials. Information on the Website sourced from third parties (the "Third Party Materials"), including (without limitation) offering circulars, prospectuses, listing particulars, pricing supplements, reports, agreements, summaries, models, commentary and other materials, has been obtained from sources believed to be reliable, but Lloyds Banking Group does not warrant its completeness or accuracy. Lloyds Banking Group has no obligations in respect of Third Party Materials (including as to verifying or correcting Third Party Materials or publishing materials relating to Third Party Materials). Posting Third Party Materials on the Website does not imply any endorsement, adoption of or responsibility by Lloyds Banking Group for the opinions, ideas, products, information or services offered therein, or any representation regarding the content of any Third Party Materials.

    Lloyds Banking Group Positions. Lloyds Banking Group may have its own interests in relation to the issuers or any affiliates of the issuers of any Securities or transactions mentioned on the Website.

    Lloyds Banking Group and Benchmarks. Lloyds Banking Group may participate in benchmarks in any one or more of the following capacities: as administrator, submitter or user. Benchmarks may be referenced by Lloyds Banking Group for internal purposes or used to reference products, services or transactions which Lloyds Banking Group provides or carries out with the Client. More information about Lloyds Banking Group’s participation in benchmarks is set out in the Benchmark Transparency Statement which is available on Lloyds Banking Group website referred to below.

    Disclaimer of Advice.  The Website does not purport to provide any financial, investment, tax, accounting or legal advice or recommendation. Before the Client enters into any transaction in connection with the documentation contained or securities referred to on the Website, it should obtain its own independent advice from its professional accounting, legal, regulatory, tax or other advisers.

    Click Through. Any acknowledgment, agreement or other type of click through button on the Website that is selected to evidence agreement or an acknowledgement shall have the same force and validity as a paper copy of an agreement that has been manually signed and delivered.

    Discontinuance and disruption of service. Lloyds Banking Group or its suppliers may discontinue the Website at any time.

    U.S. Persons. The Client is either (a) not a 'U.S. person' (as that term is defined in Regulation S under the Securities Act) and is not in the United States (as that term is defined in Regulation S under the Securities Act) or, if the terms of the Securities permit, (b) a 'qualified institutional buyer' (as that term is defined in Rule 144A under the Securities Act).

    Unauthorised Use

    Unauthorised use of the Website including but not limited to unauthorised entry into such entities' systems, or misuse of any information posted to the Website, is strictly prohibited.

    Information contained in the Website may not be distributed (whether in whole or in part) to or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

    Limitation of Liability

    Lloyds Banking Group and third party data providers are not responsible for any errors in or omissions from the information contained in or accessed through the Website (including all information, tools and materials contained on the Website).

    The Website contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the Securities Act with respect to Lloyds Banking Group and its current goals and expectations. Statements that are not historical or current facts, including statements about Lloyds Banking Group's or its directors' and/or management's beliefs and expectations, are forward looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of Lloyds Banking Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets ("RWAs"), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; Lloyds Banking Group’s future financial performance; the level and extent of future impairments and write-downs; Lloyds Banking Group’s ESG targets and/or commitments; statements of plans, objectives or goals of Lloyds Banking Group or its management and other statements that are not historical fact; expectations about the impact of COVID-19; and statements of assumptions underlying such statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future and factors that could cause actual business, strategy, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward looking statements. See the section entitled “Risk Factors” of our Annual Report on Form 20-F for each year for a description of these factors.

    To the greatest extent permitted by applicable law and regulation, Lloyds Banking Group will have no tort, contract or any other liability to the Client or any third party arising in connection with the use of the Website, or reliance on any information or services provided in the Website.

    Lloyds Banking Group will under no circumstances be liable to the Client or any third party, regardless of the form of action, for any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever, even if Lloyds Banking Group has been advised of the possibility of such loss or damages.

    Nothing set out above or below shall limit or exclude liability of Lloyds Banking Group:

    1. for personal injury arising from negligence;

    2. for fraud, gross negligence or wilful default; or

    3. for damages that may not be limited or excluded under applicable law and regulation.

    The Client and Lloyds Banking Group agree that the limitations and exclusions set out above and below are reasonable having regard to all the relevant circumstances and the levels of risk associated with the Client’s and Lloyds Banking Group’s obligations under these Terms and Conditions.

    If any provision of these Terms and Conditions is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, then (i) that shall not affect the other provisions of these Terms and Conditions which shall remain in full force and effect; and (ii) if that provision would be valid or enforceable if part of that provision were deleted, then that provision shall apply with such modification(s) as may be necessary to make it valid and enforceable.

    Governing Law

    These Terms and Conditions and any non-contractual obligations arising out of or in conjunction with it, will be governed by, and construed in accordance with, the laws of England and Wales.

    The English courts will have jurisdiction to settle any disputes which may arise in connection with these Terms and Conditions.

    Regulatory information

    Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively. Further regulatory information is available via www.lloydsbank.com/business/corporate-banking/important-information/commercial-banking-regulatory-information.

  • Issue date

    Amount

    Coupon (%)

    Maturity

    ISIN

    Issue date

    05/01/2024

    Amount

    EUR 500m

    Coupon (%)

    4.375

    Maturity

    05/04/2034

    ISIN

    XS2743047156

    Issue date

    31/08/2023

    Amount

    AUD 750m

    Coupon (%)

    7.086

    Maturity

    31/08/2033

    ISIN

    AU3CB0302115

    Issue date

    22/08/2023

    Amount

    SGD 500m

    Coupon (%)

    5.250

    Maturity

    22/08/2033

    ISIN

    XS2668240844

    Issue date

    02/03/2023

    Amount

    GBP 750m

    Coupon (%)

    6.625

    Maturity

    02/06/2033

    ISIN

    XS2591847970

    Issue date

    15/11/2022

    Amount

    USD 1.0bn

    Coupon (%)

    7.953

    Maturity

    15/11/2033

    ISIN

    US539439AW91

    Issue date

    14/12/2021

    Amount

    USD 1.2bn

    Coupon (%)

    3.3691

    Maturity

    14/12/2046

    ISIN

    US53944YAQ61

    Issue date

    15/06/2021

    Amount

    GBP 500m

    Coupon (%)

    1.985

    Maturity

    15/12/2031

    ISIN

    XS2351166421

    Issue date

    03/12/2020

    Amount

    GBP 1.3bn

    Coupon (%)

    2.707

    Maturity

    03/12/2035

    ISIN

    XS2265524640

    Issue date

    16/03/2020

    Amount

    EUR 309m

    Coupon (%)

    4.500

    Maturity

    18/03/2030

    ISIN

    XS2138286229

    Issue date

    09/01/2018

    Amount

    USD 1.5bn

    Coupon (%)

    4.344

    Maturity

    09/01/2048

    ISIN

    US53944YAE32

    Issue date

    24/03/2016

    Amount

    USD 1.5bn

    Coupon (%)

    4.650

    Maturity

    24/03/2026

    ISIN

    US53944YAB92

    Issue date

    10/12/2015

    Amount

    USD 1.3bn

    Coupon (%)

    4.582

    Maturity

    10/12/2025

    ISIN

    US539439AM10

    Issue date

    10/12/2015

    Amount

    USD 25.7m

    Coupon (%)

    4.582

    Maturity

    10/12/2025

    ISIN

    US539439AH25

    Issue date

    01/12/2015

    Amount

    USD 824.1m

    Coupon (%)

    5.300

    Maturity

    01/12/2045

    ISIN

    US539439AN92

    Issue date

    01/12/2015

    Amount

    USD 0.05m

    Coupon (%)

    5.300

    Maturity

    01/12/2045

    ISIN

    US539439AJ80

    Issue date

    04/11/2014

    Amount

    USD 1bn

    Coupon (%)

    4.500

    Maturity

    04/11/2024

    ISIN

    US53944YAA10

    Issue date

    20/04/2010

    Amount

    GBP 750m

    Coupon (%)

    7.625

    Maturity

    22/04/2025

    ISIN

    XS0503834821

    Issue date

    01/03/1999

    Amount

    GBP 14.7m

    Coupon (%)

    9.375

    Maturity

    Perpetual

    ISIN

    GB0005242879

    Issue date

    01/08/1995

    Amount

    GBP 100m

    Coupon (%)

    11.750

    Maturity

    Perpetual

    ISIN

    GB0001905362

    Issue date

    10/06/1991

    Amount

    GBP 13.7m

    Coupon (%)

    13.625

    Maturity

    Perpetual

    ISIN

    GB0000394915

    1. Lloyds Banking Group plc has determined that the 3.369% Fixed Date Reset Subordinated Debt Securities due 14 December 2046 (with a call date in 2041) of Lloyds Banking Group plc (CUSIP 53944YAQ6) are considered 'traded on an established market' within the meaning of US Treasury Regulations section 1.1273-2(f) and that for U.S. federal income tax purposes the 'issue price' for each $1,000 of Subordinated Debt Securities is $1,002.8675.

  • Issue date

    Amount

    Coupon (%)

    Maturity

    ISIN

    Issue date

    16/01/2009

    Amount

    USD 37.6m

    Coupon (%)

    6.657

    Maturity

    Perpetual

    ISIN

    US539439AE93
    US539439AF68

    Issue date

    16/01/2009

    Amount

    USD 49m

    Coupon (%)

    6.413

    Maturity

    Perpetual

    ISIN

    USG5533WAA56
    US539439AC38

    Issue date

    16/01/2009

    Amount

    GBP 252.5m

    Coupon (%)

    9.250

    Maturity

    Perpetual

    ISIN

    GB00B3KS9W93

    Issue date

    16/01/2009

    Amount

    GBP 43.6m

    Coupon (%)

    9.750

    Maturity

    Perpetual

    ISIN

    GB00B3KSB238

    Issue date

    16/01/2009

    Amount

    GBP 47.3m

    Coupon (%)

    6.475

    Maturity

    Perpetual

    ISIN

    GB00B3KSB568

    This section provides details of current prices and dividend rates for Lloyds Banking Group plc preference shares.

    As stated above, the Group was prevented from making any dividend payments on these securities following the agreement of a restructuring plan with the European Commission in the context of a state aid review. The restriction period was in effect from 31 January 2010 to 31 January 2012. Further detail is outlined in our announcement of 3 November 2009.

  • Issue date

    Amount

    Coupon (%)

    Maturity

    ISIN

    Issue date

    17/03/2005

    Amount

    EUR 441m

    Coupon (%)

    4.500

    Maturity

    18/03/2030

    ISIN

    XS0214965534

    Issue date

    30/10/2003

    Amount

    USD 301m

    Coupon (%)

    6.000

    Maturity

    01/11/2033

    ISIN

    US4041A3AG79
    US4041A2AF14

    Issue date

    28/11/2002

    Amount

    GBP 8.5m

    Coupon (%)

    5.750

    Maturity

    Perpetual

    ISIN

    XS0158313758

    Issue date

    28/03/2002

    Amount

    GBP 9.6m

    Coupon (%)

    6.000

    Maturity

    Perpetual

    ISIN

    XS0145407507

Issue date

Amount

Coupon (%)

Maturity

ISIN

Issue date

13/03/2023

Amount

USD 1.25bn

Coupon (%)

8.000

Maturity

Perpetual

ISIN

US53944YAV56

Issue date

17/01/2023

Amount

GBP 750m

Coupon (%)

8.500

Maturity

Perpetual

ISIN

XS2575900977

Issue date

07/09/2022

Amount

GBP 750m

Coupon (%)

8.500

Maturity

Perpetual

ISIN

XS2529511722

Issue date

20/11/2019

Amount

GBP 0.5bn

Coupon (%)

5.125

Maturity

Perpetual

ISIN

XS2080995405

Issue date

19/06/2019

Amount

USD 0.5bn

Coupon (%)

6.750

Maturity

Perpetual

ISIN

US53944YAJ29

Issue date

10/10/2018

Amount

USD 1.5bn

Coupon (%)

7.500

Maturity

Perpetual

ISIN

US539439AU36

Issue date

07/04/2014

Amount

USD 1.7bn

Coupon (%)

7.500

Maturity

Perpetual

ISIN

US539439AG42

Issue date

01/04/2014

Amount

EUR 750m

Coupon (%)

4.947

Maturity

Perpetual

ISIN

XS1043545059

Issue date

01/04/2014

Amount

GBP 750m

Coupon (%)

7.875

Maturity

Perpetual

ISIN

XS1043552261

This webpage and attached documents are for information only and are not an invitation or recommendation to invest. You should always take appropriate independent advice before making any investment decision.

Please note that the Group was prevented from making any coupon and dividend payments on a number of our securities following the agreement of a restructuring plan with the European Commission in the context of a state aid review. The restriction period was in effect from 31 January 2010 to 31 January 2012.

Further detail was outlined in our announcement of 3 November 2009.

On 24 June 2015 the Group provided notice in accordance with the requirements of the Small Business, Enterprise and Employment Act 2015 that it is required to implement a mandatory statutory procedure for seeking the conversion of issued bearer shares into registered shares.