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Lloyds Bank to redeem £134.42 million perpetuals on Feb. 3
By Mary-Katherine Stinson
Lexington, Ky., Jan. 31 – Lloyds Bank plc announced it will redeem all outstanding £134,417,000 of its 13% step-up perpetual capital securities (ISIN: XS0408620721) at the make-whole redemption price of 138.5528 on Feb. 3, according to a notice.
In addition, there will be an accrued coupon payment of 0.4630% per security and a deferred coupon payment of 26% per security to be paid in cash.
Originally £700,022,000 securities were issued.
Law Debenture Trust Corp. plc is the trustee.
UBS AG London Branch is the agent bank.
The issuer of the securities was formerly Lloyds TSB Bank plc. Based in London, Lloyds is a British retail and commercial bank with Lloyds Banking Group as a parent organization.
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