Bond Factsheet
LLOYDS 5.687% 06Mar2030 Corp (AUD)
Lloyds Banking Group PLC
Indicative
Full Lot
Bid Price 99.459
Change in Bid Price 0.201
Bid Yield (%) 5.928 %
Change in Bid Yield 0.091
Ask Price 99.577
Change in Ask Price 0.199
Ask Yield (%) 5.875 %
Change in Ask Yield 0.089
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Lloyds Banking Group PLC
Guarantor
-
Announcement Date
28 Feb 2024
Issue Date
06 Mar 2024
Maturity Date
06 Mar 2030
Years to Maturity / Next Call
3.421 / 2.421
Modified Duration
3.046 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.687
Coupon Type
Variable
Annual Coupon Rate
5.687
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Capital Structure
Senior Unsecured
Reference Rate
Reset Date: 06 March 2029 and every quarter thereafter
Reset Rate: BBSW 3month + Margin (1.680%)
ISIN
AU3CB0307338
CUSIP
ZD3378555
Bond Currency
AUD
Total Issue Size
450,000,000
Min. Investment Quantity (Nominal)
AUD 10,000
Incremental Quantity (Nominal)
AUD 10,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A+
Bond Credit Rating (S&P/ Fitch)
***/ A+
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
(a) Notwithstanding, and to the exclusion of, any other term of the Notes or any other agreements, arrangements, or understandings between the Issuer and any Noteholder, by its acquisition of the Notes, each Noteholder acknowledges and accepts that the Amounts Due arising under the Notes may be subject to the exercise of the UK Bail-in Power by the Resolution Authority, and acknowledges, accepts, consents and agrees to be bound by:
(i) the effect of the exercise of the UK Bail-in Power by the Resolution Authority, that may include and result in any of the following, or some combination thereof:
(A) the reduction of all, or a portion, of the Amounts Due;
(B) the conversion of all, or a portion, of the Amounts Due on the Notes into shares, other securities or other obligations of the Issuer or another person (and the issue to or conferral on the Noteholder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Notes); (C) the cancellation of the Notes; and
(D) the amendment or alteration of the maturity of the Notes or amendment of the amount of interest payable on the Notes, or the date on which the interest becomes payable, including by suspending payment for a temporary period; and
(ii) the variation of the terms of the Notes, if necessary, to give effect to the exercise of the UK Bail-in Power by the Resolution Authority.
(b) No repayment or payment of Amounts Due on the Notes will become due and payable or to be paid after the exercise of any UK Bail-in Power by the Resolution Authority if and to the extent such amounts have been reduced, converted, cancelled, suspended (for so long as such suspension or moratorium is outstanding), amended or altered as a result of such exercise.
(c) Neither a reduction or cancellation, in part or in full, of the Amounts Due or the conversion thereof into another security or obligation of the Issuer or another person, as a result of the exercise of the UK Bail-in Power by the Resolution Authority with respect to the Issuer, nor the exercise of the UK Bail-in Power by the Resolution Authority with respect to the Notes will be a default or an Event of Default for any purpose.
Issuer Call
Early Redemption Date (Call) : 6 March 2029
Additional Note
Where a Loss Absorption Disqualification Event is specified as being applicable in the Pricing Supplement relating to Senior Notes, the Issuer may at its option but subject to Condition 9.12 (“Conditions to Redemption and Purchase”), having given not less than 15 days nor more than 60 days’ notice in accordance with Condition 19 (“Notices”) to the Noteholders, the Registrar, each other Agent and any stock or securities exchange or other relevant authority on which the Notes are listed, quoted and/or traded, redeem all but not some only of the Notes outstanding (if the Notes are Floating Rate Notes) on the next Interest Payment Date or (if the Notes are not Floating Rate Notes) at any time at the Early Redemption Amount, together (if applicable) with any accrued but unpaid interest up to (but excluding) the date fixed for redemption, if immediately prior to the giving of the notice referred to above, a Loss Absorption Disqualification Event has occurred.
In this Condition 9.4, a “Loss Absorption Disqualification Event” shall be deemed to have occurred if, as a result of any amendment to, or a pending change in, the Loss Absorption Regulations, or any change in the application or official interpretation of the Loss Absorption Regulations, in any such case becoming effective on or after the Issue Date of the first Tranche of the Senior Notes, such Notes are or (in the opinion of the Issuer, the Relevant Regulator and/or the Resolution Authority) are likely to be fully or (if so specified in the applicable Pricing Supplement) partially excluded from the Issuer’s and/or the Group’s minimum requirements for:
(a) own funds and eligible liabilities; and/or
(b) loss absorbing capacity instruments,
in each case as such minimum requirements are applicable to the Issuer and/or the Group and determined in accordance with, and pursuant to, the relevant Loss Absorption Regulations; provided that a Loss Absorption Disqualification Event shall not occur where the exclusion of the Notes from the relevant minimum requirement(s) is due to the remaining maturity of the Senior Notes being less than any period prescribed by any applicable eligibility criteria for such minimum requirements under the relevant Loss Absorption Regulations effective with respect to the Issuer and/or the Group on the Issue Date of the first Tranche of the Senior Notes.
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