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Lloyds TSB Bank PLC Tender Offer - EUR and GBP securities - Pricing

TIDM38ZT TIDMLLOY RNS Number : 2115H Lloyds TSB Bank PLC 09 July 2012 NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON. ========================================================================================== 9 July 2012, 10.50 a.m. Lloyds TSB Bank plc cash tender offer on certain euro and pounds sterling securities: announcement of Clearing Spreads and indicative Series Acceptance Amounts On 28 June 2012, Lloyds TSB Bank plc (the "Issuer") invited Holders of the securities listed below (the "Securities") to tender their Securities for cash purchase (the "Offers") on the terms of and subject to the Maximum Offer Amount and the other conditions contained in a tender offer memorandum dated 28 June 2012 (the "Tender Offer Memorandum"). Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum. The Offers expired at 4.00 p.m. (London time) on 6 July 2012. The Issuer hereby informs Holders that the Clearing Spread and indicative Series Acceptance Amount in respect of each Series of Securities has been set as specified in the table below. The Issuer has elected to increase the Maximum Offer Amount in accordance with the conditions contained in the Tender Offer Memorandum to GBP1,442,000,000. Principal Amount Reference Indicative Series Title of Security ISIN Numbers Outstanding Benchmark Clearing Spread Acceptance Amount ------------------- -------------- ------------------- ------------------- ------------------ ------------------- EUR982,549,000 6.25 per cent. Applicable Notes due April Interpolated 2014 XS0422704238 EUR982,549,000 Mid-Swap Rate +90 basis points EUR306,693,000 EUR1,500,000,000 4.50 per cent. Applicable Notes due Interpolated September 2014 XS0604400001 EUR1,500,000,000 Mid-Swap Rate +90 basis points EUR503,203,000 EUR1,250,000,000 3.75 per cent. Applicable Notes due Interpolated September 2015 XS0539845171 EUR1,250,000,000 Mid-Swap Rate +135 basis points EUR232,435,000 EUR2,000,000,000 6.375 per cent Applicable Notes due June Interpolated 2016 XS0435070288 EUR2,000,000,000 Mid-Swap Rate +200 basis points EUR295,929,000 GBP400,000,000 XS0395139354 GBP400,000,000 5 per cent. UK +314 basis points GBP174,150,000 6.75 per cent. Treasury Gilt due Notes due October March 2018 2018 EUR1,500,000,000 5.375 per cent. Applicable Notes due Interpolated September 2019 XS0449361350 EUR1,500,000,000 Mid-Swap Rate +200 basis points EUR259,259,000 Pricing and Results Pricing will take place at or around 2.00 p.m. (London time) today, 9 July 2012 (the "Price Determination Time"). As soon as reasonably practicable after the Price Determination Time, the Issuer will announce its final decision as to whether it will accept any valid tenders in respect of each Series of Securities and, if so, the applicable Reference Yield; Repurchase Yield; Purchase Price; Accrued Interest; and final Series Acceptance Amount. Settlement of the relevant Purchase Price and Accrued Interest payment is expected to take place on 11 July 2012. INDICATIVE TIMETABLE The following table sets out the expected dates and times of the key events relating to the Offers. This is an indicative timetable and is subject to change. Date and Time Action ------------------------------ ---------------------------------------------- At or around 2.00 Price Determination Time p.m. (London time) The Issuer will determine the relevant today, 9 July 2012 Reference Yields, Repurchase Yields, Purchase Prices and final Series Acceptance Amounts. As soon as practicable Announcement by the Issuer of whether after the Price Determination it will accept Offers in respect of a Time particular Series of Securities, and, if so: the Reference Yield; the Repurchase Yield; the Purchase Price; Accrued Interest; the final Series Acceptance Amount (which may be zero in respect of any Series); and confirming the relevant Clearing Spreads. 11 July 2012 Settlement Date Expected Settlement Date for Securities validly tendered and accepted by the Issuer. Payment of the relevant Purchase Price and Accrued Interest Payment in respect of any such Securities. FURTHER INFORMATION Lucid Issuer Services Limited has been appointed by the Issuer as Tender Agent (the "Tender Agent") for the purposes of the Offers. Deutsche Bank AG, London Branch and Lloyds TSB Bank plc (acting through Lloyds Bank) have been appointed by the Issuer as Dealer Managers (the "Dealer Managers") for the purposes of the Offers. For further information please contact: For press: Nicole Sharp Media Relations Nicole.sharp@lloydsbanking.com +44 207 356 2120 For analysts: Frederik Verpoest Director of Investor Relations Lloyds Banking Group +44 207 356 2385 +44 750 948 4949 Requests for information in relation to the Offers should be directed to: DEALER MANAGERS Deutsche Bank AG, London Branch Lloyds TSB Bank plc Winchester House Lloyds Bank 1 Great Winchester Street 10 Gresham Street London EC2N 2DB London EC2V 7AE United Kingdom United Kingdom Tel: +44 20 7545 8011 Tel: +44 20 7158 3981 Attention: Liability Management Attention: Liability Management Group Group email: liability.management@db.com email: liability.management@lloydsbanking.com TENDER AGENT Lucid Issuer Services Limited Leroy House 436 Essex Road London N1 3QP United Kingdom Tel: +44 (0) 20 7704 0880 Attention: Sunjeeve Patel / David Shilson / Thomas Choquet / Paul Kamminga Email: lbg@lucid-is.com DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which must be read carefully before any decision is made with respect to the Offers. If any Holder is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Offers. None of the Issuer, the Dealer Managers, the Tender Agent and any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons, makes any recommendation as to whether Holders should participate in the Offers. This information is provided by RNS The company news service from the London Stock Exchange END TENGCGDRCUGBGDC

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