By Angela McDaniels
Tacoma, Wash., July 20 - Lloyds TSB Bank plc priced an additional $4 million of callable six-month Libor and S&P 500 index range accrual notes due July 20, 2032, according to a 424B5 filing with the Securities and Exchange Commission.
This brings the total issue size to $5 million. The original $1 million of notes priced July 5.
Morgan Stanley & Co. LLC is the agent.
The interest rate is 8.25% per year multiplied by the proportion of days on which the index closes at or above 990 and six-month Libor is 7% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning July 29, 2017, the notes will be callable at par on any interest payment date.
Issuer: | Lloyds TSB Bank plc
|
Guarantor: | Lloyds Banking Group plc
|
Issue: | Range accrual notes
|
Underlyings: | Six-month Libor and S&P 500 index
|
Amount: | $5 million, increased from $1 million
|
Maturity: | July 20, 2032
|
Coupon: | 8.25% per year multiplied by proportion of days on which index closes at or above 990 and six-month Libor is 7% or less; payable quarterly
|
Price: | Variable prices
|
Payout at maturity: | Par
|
Call option: | At par on any interest payment date from July 29, 2017 onward
|
Pricing date: | July 5
|
Upsized: | July 18
|
Settlement date: | July 20
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3.5%
|
Cusip: | 5394E8BA6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.