Bond Lloyds Bank 3% ( US53944XDR35 ) in USD

Lloyds Bank

100 % ▲

United Kingdom

US53944XDR35 ( in USD )

3% per year ( payment 2 times a year)

27/12/2025

Prospectus brochure of the bond Lloyds Bank US53944XDR35 en USD 3%, maturity 27/12/2025

1 000 USD

73 000 USD

53944XDR3

A+ ( Upper medium grade - Investment-grade )

A1 ( Upper medium grade - Investment-grade )

27/06/2025 ( In 60 days )

Lloyds Banking Group is a major British banking and financial services corporation, offering a wide range of products and services to personal and corporate customers across the United Kingdom.

The Bond issued by Lloyds Bank ( United Kingdom ) , in USD, with the ISIN code US53944XDR35, pays a coupon of 3% per year.
The coupons are paid 2 times per year and the Bond maturity is 27/12/2025

The Bond issued by Lloyds Bank ( United Kingdom ) , in USD, with the ISIN code US53944XDR35, was rated A1 ( Upper medium grade - Investment-grade ) by Moody's credit rating agency.

The Bond issued by Lloyds Bank ( United Kingdom ) , in USD, with the ISIN code US53944XDR35, was rated A+ ( Upper medium grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

http://www.sec.gov/Archives/edgar/data/1160106/000095010312006904...
424B5 1 dp35060_424b5-ps88.htm FORM 424B5

CALCULATION OF REGISTRATION FEE

Maximum Aggregate Offering
Title of Each Class of Securities Offered
Price

Amount of Registration Fee(1)
Debt Securities
$73,000.00

$9.96
Guarantee of Debt Securities

(2)
Total
$73,000.00

$9.96

(1) Calculated in accordance with Rule 457(r)

(2) Pursuant to Rule 457(n), no separate fee is payable with respect to the guarantee

Pricing Supplement No. 88
Filed Pursuant to Rule 424(b)(5)
(To Prospectus Supplement dated November 25, 2011
Registration Nos. 333-167844 and 333-167844-01
and Prospectus dated December 22, 2010)
December 21, 2012

First
First
Aggregate
Selling
Interest
Day
Business
Interest Interest
CUSIP/
Principal
Price to
Agent's
Net
InterestInterest Payment
Count
Day
Maturity Payment PaymentSurvivor's
ISIN
Amount
Public(1) Commission(2) Proceeds Type
Rate
Frequency FractionConvention
Date
Date
Amount Option
Ranking
53944XDR3/ $73,000.00 Per $1,000.00
$15.50
$984.50
Fixed 3.00% Semi-annually 30/360 Folowing, 12/27/20256/27/2013 $15.00
Yes
Senior
US53944XDR35
Note:
per
unadjusted,
(per
Unsecured
annum
New York
$1,000
Total:$73,000.00 $1,131.50 $71,868.50
and London
Note)

Redemption Information: Non-Callable
Selling Agent: Barclays Capital Inc.
(1) The proceeds you might expect to receive if you were able to resell the Notes on the Issue Date are expected to be less than the issue
price. This is because the issue price includes the selling agent's commission set forth above and also reflects certain hedging costs associated
with the Notes. For additional information, see "Risk Factors -- The issue price of the notes has certain built-in costs, including the selling
agent's commission and our cost of hedging, both of which are expected to be reflected in secondary market prices" on page S-3 of the
accompanying prospectus supplement. The issue price also does not include fees that you may be charged if you buy the Notes through your
registered investment advisers for managed fee-based accounts.

(2) The Selling Agent may retain all or a portion of this commission or use all or a portion of this commission to pay selling concessions or fees
to other dealers. See "Supplemental Plan of Distribution" on page S-26 of the accompanying prospectus supplement.

Offering Dates: December 10, 2012 through December 21,
Notes:
Retail Notes, Series B
Trade Date:
2012
Issuer:
Lloyds TSB Bank plc ("Lloyds
Issue Date:
December 21, 2012
Guarantor:
Bank")

December 27, 2012
Lloyds Banking Group plc ("LBG")
Minimum Denomination/Increments: $1,000/$1,000
Settlement and Clearance: DTC; Book-Entry
Listing: The Notes will not be listed or displayed on any securities exchange or quotation system.

Lloyds TSB Bank plc Survivor's Option Payment Date: Subject to limitations, each February 15 and August 15 of each calendar year. See

"Risk Factors -- Any Survivor's Option may be limited in amount, and any repayments made with respect to the
fully and unconditionally exercise of a Survivor's Option will not be made immediately" and "Description of the Survivor's Option" starting
guaranteed by
on page S-6 and page S-17, respectively, in the accompanying prospectus supplement.

1 of 3
12/26/2012 2:55 PM

http://www.sec.gov/Archives/edgar/data/1160106/000095010312006904...
Lloyds Banking Group Interest Payment Dates: Interest on the Notes will be paid semi-annually in arrears on the 27th day of each June and
plc
December (each an "Interest Payment Date") beginning on (and including) June 27, 2013 and ending on the

Maturity Date or the Survivor's Option Payment Date, if applicable. For additional information see "Description of
Retail Notes, Series B the Notes and the Guarantees -- Payment of Principal, Interest and Other Amounts Due" starting on page S-10 in the

accompanying prospectus supplement.

If an Interest Payment Date, the Maturity Date or the Survivor's Option Payment Date, if applicable, for any Note is
not a business day (as defined in the accompanying prospectus supplement), principal, premium, if any, and interest
for that Note will be paid on the next business day, and no additional interest will accrue in respect of such payments
made on the next business day.

In the opinion of Davis Polk & Wardwell LLP, when the notes offered by this pricing supplement have been executed
and issued by the Issuer and the Guarantor and authenticated by the trustee pursuant to the Indenture, and delivered
against payment as contemplated herein, such notes will constitute valid and binding obligations of the Issuer, and the
related guarantee will constitute a valid and binding obligation of the Guarantor, in each case enforceable in
accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights
generally, concepts of reasonableness and equitable principles of general applicability. This opinion is given as of
the date hereof and is limited to the laws of the State of New York. Insofar as this opinion involves matters governed
by Scots law, Davis Polk & Wardwell LLP has relied, without independent inquiry or investigation, on the opinion of
Dundas & Wilson CS LLP, dated December 20, 2012 and filed by the Guarantor as an exhibit to a Report on Form
6-K on December 20, 2012. Insofar as this opinion involves matters governed by English law, Davis Polk &
Wardwell LLP has relied, without independent inquiry or investigation, on the opinion of Linklaters LLP, dated
December 20, 2012 and filed by the Guarantor as an exhibit to a Report on Form 6-K on December 20, 2012. The
opinion of Davis Polk & Wardwell LLP is subject to the same assumptions, qualifications and limitations with
respect to such matters as are contained in the opinions of Dundas & Wilson CS LLP and Linklaters LLP. In addition,
the opinion of Davis Polk & Wardwell LLP is subject to customary assumptions about the establishment of the terms
of the notes, the trustee's authorization, execution and delivery of the Indenture and its authentication of the notes, and
the validity, binding nature and enforceability of the Indenture with respect to the trustee, all as stated in the opinion
of Davis Polk & Wardwell LLP dated December 20, 2012, which was filed by the Guarantor as an exhibit to a
Report on Form 6-K on December 20, 2012.

Any payments due on the Notes, including any repayment of principal, will be subject to the creditworthiness
of Lloyds Bank, as the Issuer, and LBG, as the Guarantor of the Issuer's obligations under the Notes.

LBG and Lloyds Bank have filed a registration statement with the SEC for the offering to which this pricing
supplement relates. Before you invest, you should read this pricing supplement together with the prospectus dated
December 22, 2010 (the "prospectus") in that registration statement and other documents, including the more
detailed information contained in the prospectus supplement dated November 25, 2011 (the "prospectus
supplement"), that LBG and Lloyds Bank have filed with the SEC for more complete information about LBG and
Lloyds Bank and this offering. You may access these documents on the SEC website at.www.sec.gov. LBG's
Central Index Key, or CIK, on the SEC website is 1160106 and Lloyds Bank's CIK on the SEC website is
1167831. The prospectus supplement and the prospectus may be accessed as follows (or if such address has
changed, by reviewing LBG's and Lloyds Bank's filings for the relevant date on the SEC website):

· prospectus supplement dated November 25, 2011 and prospectus dated December 22, 2010
http://www.sec.gov/Archives/edgar/data/1160106/000095010311004966/dp27400_424b3.htm

Investing in the Notes involves significant risks. See "Risk Factors" beginning on page S-3 of the
accompanying prospectus supplement.

The Notes are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other governmental agency.

None of the Securities and Exchange Commission, any state securities commission and any other regulatory
body has approved or disapproved of these Notes or passed upon the adequacy or accuracy of this pricing
supplement, the accompanying prospectus supplement or the accompanying prospectus. Any representation to
the contrary is a criminal offense.
2 of 3
12/26/2012 2:55 PM

http://www.sec.gov/Archives/edgar/data/1160106/000095010312006904...
December 21, 2012
3 of 3
12/26/2012 2:55 PM