Lloyds TSB Bank PLC (38ZT) - Tender Offer - CAD, CHF, EUR and GBP Securities RNS Number : 4950M Lloyds TSB Bank PLC 18 September 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. (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW) ========================================================================================== 18 September 2012 - 8.00 a.m. Bank of Scotland plc and Lloyds TSB Bank plc launch cash tender offers on certain Canadian dollar, euro, pounds sterling and Swiss franc securities On the terms of and subject to the conditions contained in a tender offer memorandum dated 18 September 2012 (the "Tender Offer Memorandum"): (i) Bank of Scotland plc ("BOS") has today invited Holders of the BOS Notes listed below to tender their BOS Notes for purchase by BOS for cash (the "BOS Offers"); and (ii) Lloyds TSB Bank plc ("LTSB" and, together with BOS, the "Offerors" and each an "Offeror") has today invited Holders of the LTSB Notes listed below to tender their LTSB Notes for purchase by LTSB for cash (the "LTSB Offers" and, together with the BOS Offers, the "Offers"). Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum. The Tender Offer Memorandum is available from the Dealer Managers and the Tender Agents. THE OFFERS Subject to the relevant Minimum Denomination, BOS will pay the applicable purchase price in respect of the Notes detailed in the table below (the "BOS Floating Rate Notes") accepted for purchase by it as determined pursuant to a modified Dutch auction procedure (the "Modified Dutch Auction") in the manner described in the Tender Offer Memorandum (the "Purchase Price"), together with an Accrued Interest Payment on such BOS Floating Rate Notes. Principal Amount Minimum Purchase Purchase Title of Security ISIN Number Outstanding Price Price €1,250,000,000 XS0272266049 €1,250,000,000 €1.001.10 per To be Floating Rate €1,000 in determined Notes due October principal amount pursuant to 2013 of BOS Floating the Modified Rate Notes Dutch Auction Subject to the relevant Minimum Denomination, BOS will pay the applicable Purchase Price in respect of the Notes detailed in the table below (the "BOS Fixed Rate Notes" and, together with the BOS Floating Rate Notes, the "BOS Notes") accepted for purchase by it as determined pursuant to the Modified Dutch Auction in the manner described in the Tender Offer Memorandum, together with an Accrued Interest Payment on such BOS Fixed Rate Notes. Principal Maximum Amount Reference Offer Purchase Title of Security ISIN Number Outstanding Benchmark Spread Price €1,500,000,000 XS0365381473 €1,500,000,000 Applicable + 0 To be 5.625 per cent. Interpolated basis determined Fixed Rate Notes Mid-Swap Rate points pursuant due 23 May 2013 to the CHF250,000,000 CH0025368751 CHF250,000,000 Applicable + 57 Modified 3.00 per cent. Interpolated basis Dutch Notes due May Mid-Swap Rate points Auction 2016 Subject to the relevant Minimum Denomination, LTSB will pay the applicable Purchase Price in respect of the Notes detailed in the table below (the "LTSB CAD Notes" and, together with the BOS Floating Rate Notes, the "Non Spread-based Notes") accepted for purchase by it as determined pursuant to the Modified Dutch Auction in the manner described in the Tender Offer Memorandum, together with an Accrued Interest Payment on such LTSB CAD Notes. Principal Minimum Maximum Title of Amount Purchase Purchase Purchase Security ISIN Number Outstanding Price Price Price CAD350,000,000 CA539473AF59 CAD350,000,000 CAD1,036 per CAD1,040 4.57 per cent. CAD1,000 in per Notes due principal CAD1,000 October 2015 amount of in CAD 2015 principal To be Notes amount of determined CAD 2015 pursuant to Notes the CAD500,000,000 CA539473AN83 CAD500,000,000 CAD1,062 per CAD1,067 Modified 5.28 per cent. CAD1,000 in per Dutch Notes due April principal CAD1,000 Auction 2016 amount of in CAD 2016 principal Notes amount of CAD 2016 Notes Subject to the relevant Minimum Denomination, LTSB will pay the applicable Purchase Price in respect of the Notes detailed in the table below (the "LTSB Non-CAD Notes" and, together with the BOS Fixed Rate Notes, the "Spread-based Notes" and, together with the LTSB CAD Notes, the "LTSB Notes") accepted for purchase by it as determined pursuant to the Modified Dutch Auction in the manner described in the Tender Offer Memorandum, together with an Accrued Interest Payment on such LTSB Non-CAD Notes. Principal Reference Maximum Amount Benchmark Offer Purchase Title of Security ISIN Number Outstanding Spread Price CHF500,000,000 CH0126325502 CHF500,000,000 Applicable + 20 2.50 per cent. Interpolated basis Notes due April Mid-Swap Rate points 2014 €982,549,000 6.25 XS0422704238 €675,856,000 Applicable +10 per cent. Notes Interpolated basis due April 2014 Mid-Swap Rate points £492,113,000 XS0422703347 £492,113,000 5 per cent. + 130 6.375 per cent. UK Treasury basis Notes due April Gilt due points 2014 September 2014 €1,500,000,000 XS0604400001 €996,797,000 Applicable +31 4.50 per cent. Interpolated basis Notes due Mid-Swap Rate points September 2014 CHF800,000,000 CH0116767457 CHF800,000,000 Applicable + 50 2.50 per cent. Interpolated basis Notes due March Mid-Swap Rate points 2015 €600,000,000 XS0550541691 €590,000,000 Applicable + 67 3.375 per cent. Interpolated basis Notes due April Mid-Swap Rate points 2015 To be €1,250,000,000 XS0539845171 €1,003,578,000 Applicable +72 determined 3.75 per cent. Interpolated basis pursuant Notes due Mid-Swap Rate points to the September 2015 Modified €2,000,000,000 XS0435070288 €1,704,071,000 Applicable + 78 Dutch 6.375 per cent. Interpolated basis Auction Notes due June Mid-Swap Rate points 2016 €1,500,000,000 XS0740795041 €1,500,000,000 Applicable + 85 4.625 per cent. Interpolated basis Notes due Mid-Swap Rate points February 2017 £400,000,000 6.75 XS0395139354 £225,850,000 5 per cent. + 220 per cent. Notes UK Treasury basis due October 2018 Gilt due points March 2018 €1,500,000,000 XS0449361350 €1,230,741,000 Applicable + 114 5.375 per cent. Interpolated basis Notes due Mid-Swap Rate points September 2019 £708,885,000 7.50 XS0422704071 £703,885,000 5 per cent. + 230 per cent. Notes UK Treasury basis due April 2024 Gilt due points March 2025 £1,000,000,000 XS0543369184 £988,000,000 4.75 per + 225 6.50 per cent. cent. UK basis Notes due Treasury Gilt points September 2040 due December 2038 Rationale for the Offers Lloyds Banking Group plc and its subsidiary and associated undertakings (the "Group") has a strong liquidity position that significantly exceeds its short term funding and is considerably in excess of current regulatory requirements. By tendering for certain Canadian dollar, euro, pounds sterling and Swiss franc securities the Group intends to manage its overall wholesale funding level and better optimise its future interest expense, whilst maintaining a prudent approach to liquidity. The Offerors have today also invited holders of certain U.S. dollar denominated debt securities to tender those securities for purchase (the "U.S. Tender"). In addition, LTSB, Australia Branch and BOS, Australia Branch have today invited holders of certain Australian dollar denominated debt securities to tender those securities for purchase (the "Australian Tender"). Offers being made pursuant to the Tender Offer Memorandum do not relate to the U.S. Tender or the Australian Tender. Maximum Offer Amount The maximum aggregate principal amount of Notes to be accepted in the Offers across all Series of Notes combined, converted into pounds sterling in the case of (i) LTSB CAD Notes at the CAD FX Rate; (ii) Euro Notes at the Euro FX Rate; and (iii) CHF Notes at the CHF FX Rate, is £2,000,000,000 (or such greater or lesser amount as the Offerors may determine in their sole and absolute discretion) (the "Maximum Offer Amount"). The relevant Offeror may set the Series Acceptance Amount in respect of any Series at any level (including zero) in its sole and absolute discretion. Accrued Interest Payment An amount equal to accrued and unpaid interest will also be paid as consideration in respect of all Notes validly tendered and accepted for purchase by the relevant Offeror pursuant to the Offers from, and including, the immediately preceding interest payment date for the relevant Series of Notes to, but excluding, the Settlement Date. Offer Period and Results The Offers commenced today, 18 September 2012, and will end at 4:00 p.m. (London time) on 25 September 2012 (the "Expiration Deadline"), unless extended, re-opened, amended or terminated as provided in the Tender Offer Memorandum. The relevant deadline set by any intermediary or each Clearing System may be earlier than this deadline. The relevant Offeror will announce on the Price Determination Date whether it accepts for purchase Notes validly tendered in the Offers and the aggregate principal amount (if any) of Notes of a Series accepted for purchase. Settlement of the relevant Purchase Price and, where applicable, Accrued Interest Payment is expected to take place on 28 September 2012. In order to be eligible to receive the relevant Purchase Price, Holders must validly tender their Notes by the Expiration Deadline, by delivering, or arranging to have delivered on their behalf, a valid Competitive or Non-competitive Tender Instruction that is received by the relevant Tender Agent by the Expiration Deadline. Tender Instructions must be submitted in respect of a minimum principal amount of Notes of no less than the relevant Minimum Denomination. Announcements will be made via RNS and (i) in respect of CHF Notes, the SIX Swiss Exchange or (ii) in respect of the LTSB CAD Notes through CDS. Such announcements may also be made on the relevant Reuters International Insider Screen, by the issue of a notice to a Notifying News Service and by delivery of notices to the Clearing Systems for communication to Direct Participants. Copies of all announcements, notices and press releases can also be obtained from the relevant Tender Agent, the contact details for which are set out below. 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 18 September 2012 Commencement of the Offers Offers announced through RNS, the relevant Reuters International Insider Screen, the Clearing Systems, (in respect of the CHF Notes) the SIX Swiss Exchange, (in respect of the LTSB CAD Notes) through CDS and by publication on a Notifying News Service. Tender Offer Memorandum made available from the Dealer Managers and the Tender Agents. 4.00 p.m. (London time) on Expiration Deadline 25 September 2012 Deadline for receipt by the Tender Agents of all Tender Instructions in order for Holders to be able to participate in the Offers and to be eligible to receive the relevant Purchase Price and Accrued Interest Payment on the Settlement Date. As soon as practicable, Announcement of Clearing Spreads in respect of prior to the Price Spread-based Notes, Purchase Prices in respect of Determination Time Non Spread-based Notes and Tender Results Announcement by the Offerors of: (i) in respect of Spread-based Notes, the relevant Clearing Spreads; (ii) in respect of Non Spread-based Notes, the relevant Purchase Prices; and (iii) results of the Offer (except that pricing specifics will be set out in a pricing announcement as soon as reasonably practicable after the Price Determination Time). At or around 2.00 p.m. Price Determination Time (London time) on 26 September 2012 (the "Price Determination of the relevant Reference Yields, Determination Date") Repurchase Yields, Series Acceptance Amounts, Clearing Spreads (in respect of Spread-based Notes) and Purchase Prices. As soon as practicable Announcement by the Offerors of whether they will after the Price accept Offers in respect of a particular Series Determination Time of Notes, and, if so (as applicable): the Reference Yield; the Repurchase Yield; the Purchase Price; Accrued Interest, if any; the pro-ration factor, if any; the Series Acceptance Amount (which may be zero in respect of any Series); and confirming in respect of Spread-based Notes, the relevant Clearing Spreads and in respect of Non Spread-based Notes, the relevant Purchase Prices. 28 September 2012 Settlement Date Expected Settlement Date for Notes validly tendered and accepted by the Offerors. Payment of the relevant Purchase Price and any Accrued Interest Payment in respect of any such Notes. Holders are advised to check with any bank, securities broker or other intermediary through which they hold Notes when such intermediary would require to receive instructions to participate in, or (in the limited circumstances in which revocation is permitted) revoke their instruction to participate in, the Offers before the deadlines set out above. Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on, the procedures for participating in the Offers. FURTHER INFORMATION Lucid Issuer Services Limited has been appointed by the Offerors as lead tender agent (the "LeadTender Agent") in connection with the Offers and Citibank, N.A., London Branch as Canadian tender agent (the "Canadian Tender Agent" and, together with the Lead Tender Agent, the "Tender Agents") in connection with the Offers in respect of the LTSB CAD Notes. Deutsche Bank AG, London Branch, Lloyds TSB Bank plc and UBS Limitedhave been appointed by the Offerors as Dealer Managers (the "Dealer Managers") for the purposes of the Offers. For further information please contact: For analysts: Frederik Verpoest Director of Investor Relations Lloyds Banking Group firstname.lastname@example.org +44 207 356 2385 For press: Nicole Sharp Media Relations Nicole.email@example.com +44 207 356 2120 Requests for information in relation to the Offers should be directed to: DEALER MANAGERS Deutsche Bank AG, London Lloyds TSB Bank plc UBS Limited Branch Lloyds Bank 1 Finsbury Avenue Winchester House 10 Gresham Street London EC2M 2PP 1 Great Winchester Street London EC2V 7AE United Kingdom London EC2N 2DB United Kingdom United Kingdom In Europe In Europe Tel: +44 207 567 0525 In Europe Tel: +44 20 7158 3981 Attention: Liability Management Tel: +44 20 7545 8011 Attention: Liability Management Group Group Attention: Liability email: email: Management Group firstname.lastname@example.org OLemail@example.com email: firstname.lastname@example.org In Canada Tel: + 1 416 682 8740 Attention: Scott Lampard email: email@example.com Requests for information in relation to the procedures for tendering Notes in, and for any documents or materials relating to, the Tender Offer should be directed to: LEAD TENDER AGENT Lucid Issuer Services Limited Leroy House 436 Essex Road London N1 3QP United Kingdom Tel: +44 20 7704 0880 Attention: Sunjeeve Patel / David Shilson / Thomas Choquet / Paul Kamminga Email: firstname.lastname@example.org CANADIAN TENDER AGENT Citibank, N.A., London Branch 13^th Floor Canada Square Citigroup Centre London E14 5LB Tel: (UK) +44 207 508 3867 Tel: (CAN) +1 905 212 8906 Fax: +44 203 320 2405 Attention: Exchange Team - Agency + Trust email: email@example.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 Notes 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 Offerors, the Dealer Managers, the Tender Agents 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. OFFER AND DISTRIBUTION RESTRICTIONS This announcement and the Tender Offer Memorandum does not constitute an offer or an invitation to participate in the Offers in the United States or in any other jurisdiction in which, or to any person to or from whom, it is unlawful to make such offer or invitation or for there to be such participation under applicable laws. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offerors, the Dealer Managers and the Tender Agents to inform themselves about and to observe any such restrictions. United States The Offers are not being made and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone and the internet. The Notes may not be tendered in any Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States or by U.S. Persons as defined in Regulation S of the United States Securities Act of 1933, as amended (each a "U.S. Person"). Accordingly, copies of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Offers are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to any persons located or resident in the United States or to U.S. Persons. Any purported tender of Notes in an Offer resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Notes made by a person located or resident in the United States or by a U.S.Person, or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States or for a U.S. Person will be invalid and will not be accepted. Each Holder participating in an Offer will represent that it is not a U.S. Person and it is not located or resident in the United States and is not participating in such Offer from the United States or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in such Offer from the United States and is not a U.S. Person. For the purposes of this and the above paragraph, "United States" means the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia. United Kingdom The communication of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Offers is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the "FSMA"). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the relevant Offeror or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated. Belgium Neither this announcement, the Tender Offer Memorandum nor any other documents or materials relating to the Offers have been submitted to or will be submitted for approval or recognition to the Financial Services and Markets Authority ("Autorité des services et marches financiers/Autoriteit financiële diensten en markten") and, accordingly, the Offers may not be made in Belgium by way of a public offering, as defined in Articles 3 and 6 of the Belgian Law of 1 April 2007 on public takeover bids as amended or replaced from time to time. Accordingly, the Offers may not be advertised and the Offers will not be extended, and neither this announcement, the Tender Offer Memorandum nor any other documents or materials relating to the Offers (including any memorandum, information circular, brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than "qualified investors" in the sense of Article 10 of the Belgian Law of 16 June 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets, acting on their own account. The Tender Offer Memorandum has been issued only for the personal use of the above qualified investors and exclusively for the purpose of the Offers. Accordingly, the information contained in the Tender Offer Memorandum may not be used for any other purpose or disclosed to any other person in Belgium. France The Offers are not being made, directly or indirectly, to the public in France. Neither this announcement, the Tender Offer Memorandum nor any other documents or offering materials relating to the Offers have been or shall be distributed to the public in France and only (i)providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers) and/or (ii)qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, ArticlesL.411-1, L.411-2 and D.411-1 to D.411-3 of the French Code monétaire et financier, are eligible to participate in the Offers. The Tender Offer Memorandum has not been submitted to the clearance procedures (visa) of the Autorité des marchés financiers. Italy None of the Offers, this announcement, the Tender Offer Memorandum nor any other document or materials relating to the Offers have been submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa ("CONSOB") pursuant to Italian laws and regulations. Each Offer is being carried out in Italy as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the "Financial Services Act") and article 35-bis, paragraph 4, of CONSOB Regulation No. 11971 of 14 May 1999, as amended (the "Issuers' Regulation"). The Offers are also being carried out in compliance with article 35-bis, paragraph 7 of the Issuers' Regulation. Holders or beneficial owners of Notes that are located in Italy can tender Notes for purchase in the Offers through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 16190 of 29 October 2007, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority. Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or the Offers. Canada Neither this announcement, nor the Tender Offer Memorandum, are, and under no circumstances are they to be construed as, a prospectus, an advertisement or a public offering in Canada of the Notes referred to herein or in the Tender Offer Memorandum. No prospectus has been filed with any securities commission or similar regulatory authority in Canada in connection with the Offers or the Notes described herein or in the Tender Offer Memorandum. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon the Tender Offer Memorandum or expressed an opinion about the Notes described herein or in the Tender Offer Memorandum and any representation to the contrary is an offence. Jersey The Offers do not constitute a prospectus nor offers or invitations to the public for the purposes of the Companies (Jersey) Law 1991, as amended, or the Control of Borrowing (Jersey) Order 1958 and no consent, licence or other authority has been sought under these laws or any other securities laws in the Island of Jersey. Accordingly, neither this announcement, Tender Offer Memorandum nor any other documents relating to the Offers may be circulated in Jersey. Australia No prospectus or other disclosure document (as defined in the Corporations Act of Australia 2001 (Cth) (the "Corporations Act")) in relation to the Offers has been or will be lodged with the Australian Securities and Investments Commission ("ASIC") and this document does not comply with Division 5A of Part 7.9 of the Corporations Act. In addition: (a) no offers or applications will be made or invited for the purchase of any Notes in Australia (including an offer or invitation which is received by a person in Australia); and (b) the Tender Offer Memorandum or any other offering material or advertisement relating to any Notes will not be distributed or published in Australia, unless (i) the aggregate consideration payable by the relevant Offeror is at least AUD500,000 (or its equivalent in other currencies, but disregarding moneys lent by the offeror or its associates) or the offer or invitation otherwise does not require disclosure to investors in accordance with Parts 6D.2 or 7.9 of the Corporations Act; (ii) such action complies with all applicable laws and regulations; (iii) such action does not require any document to be lodged with ASIC; and (iv) the offer or invitation is made in circumstances specified in Corporations Regulation 7.9.97. The People's Republic of China The Offers are not being made directly or indirectly into the People's Republic of China except as permitted by the securities laws of the People's Republic of China. Taiwan The Offers are not being made directly or indirectly into Taiwan except as permitted by the securities laws of Taiwan. General The Dealer Managers and the Tender Agents (and their respective directors, employees or affiliates) make no representations or recommendations whatsoever regarding this announcement, the Tender Offer Memorandum or the Offers. The Lead Tender Agent is the agent of the Offerors and the Canadian Tender Agent is the agent of LTSB and each owes no duty to any Holder. None of the Offerors, the Dealer Managers or the Tender Agents (or any of their respective directors, employees or affiliates) makes any recommendation as to whether or not Holders should participate in the Offers. The Offers do not constitute an offer to buy or the solicitation of an offer to sell Notes in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Managers or, where the context so requires, any of their respective affiliates is such a licensed broker or dealer in that jurisdiction, the Offers shall be deemed to be made on behalf of the relevant Offeror by such Dealer Manager or affiliate (as the case may be) in such jurisdiction. Each Holder participating in an Offer will be deemed to give certain representations in respect of the jurisdictions referred to above and generally as set out in "Procedures for Participating in the Offers" in the Tender Offer Memorandum. Any tender of Notes for purchase pursuant to an Offer from a Holder that is unable to make these representations may be rejected. Each of the Offerors, the Dealer Managers and the Tender Agents reserves the right, in their absolute discretion, to investigate, in relation to any tender of Notes for purchase pursuant to an Offer, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a result the relevant Offeror determines (for any reason) that such representation is not correct, such tender may be rejected. This information is provided by RNS The company news service from the London Stock Exchange END TENGRGDCGGBBGDI -0- Sep/18/2012 07:02 GMT
Lloyds TSB Bank PLC 38ZT Tender Offer - CAD, CHF, EUR and GBP Securities
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