Euro Medium Term Note Programme ("EMTN")

Site terms and conditions

Please read this notice carefully — it applies to all persons who view this web page. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the website.

THESE MATERIALS WERE NOT AND SHOULD NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS WEBSITE IS AN OFFICIAL WEBSITE OF TSB Bank plc ("we" or "us"). PLEASE READ THE TERMS AND CONDITIONS SET OUT BELOW (THE "TERMS") CAREFULLY. IF YOU ACCESS THIS SECTION OF THE WEBSITE OR ANY OF THE INFORMATION IT CONTAINS, YOU AGREE TO BE BOUND BY THE TERMS. IF YOU DO NOT AGREE TO THE TERMS, DO NOT ACCESS THIS SITE OR ANY OF ITS INFORMATION.

These Terms are intended for the benefit of TSB Bank plc and TSB Banking Group plc ("TSB") and may be enforced by TSB or any of TSB's affiliates on behalf of TSB. You agree to notify TSB immediately if you become aware of any unauthorised use of the website.

Restrictions and Prohibitions

This material has been placed on this website by TSB for informational purposes only. The website does not create any legally binding obligations on the part of TSB. Access to and use of this website is conditional upon agreement to and compliance with these Terms. The information contained on this website does not constitute an invitation or recommendation to invest or a public offer of securities under any applicable legislation or an offer to sell or solicitation or an offer to buy any securities or other financial instruments or any advice or recommendation with respect to such securities or other financial instruments. The distribution material on this site may be restricted by local law or regulation in certain jurisdictions other than the United Kingdom ("UK"), and failure to comply with such restrictions may constitute a violation of the laws of any such other jurisdiction. This information is not intended for distribution to, or use by, any person or entity in any such jurisdiction or country where such distribution or use would be contrary to local law or regulation. Persons accessing the following web pages are required to inform themselves about and observe such restrictions and by accessing these web pages represent that they are a person into whose possession the materials can be lawfully delivered to, in accordance with the laws of the jurisdiction in which they are located and that they have not made and will not make any offer of securities referred to on the website (the "Securities") other than in accordance with applicable law and regulation.

The materials and information on this website are intended to be distributed only to, and are directed only at, a person(s) ("Permitted Recipients") who is:

1. not U.S. persons (within the meaning of Regulation S under the United States Securities Act of 1933, as amended) or acting for the account or benefit of any U.S. person, is not located in the United States, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands) or the District of Columbia;
2. in the UK and who (i) is an "investment professional" as defined in Article 19 of the Financial and Services Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) is a high net worth entity falling within Article 49(2)(a) to (d) of the Order; and to whom the materials and information on this website may be lawfully communicated;
3. in any Member State of the European Economic Area ("EEA") or the UK and who is not retail investor and who is "qualified investor" within the meaning of Article 2(e) of the Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation") or Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "EUWA") (the "UK Prospectus Regulation"), as appropriate; or
4. any other person to whom the materials may be otherwise lawfully communicated under the laws of any other jurisdiction.

The website and the materials on the website are not directed at and must not be acted on or relied on by Retail Investors in the EEA or the UK. For these purposes, Retail Investors being (A) in the EEA, persons who are one (or more) of: (i) retail clients (as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in Point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus Regulation and (B) in the UK, persons who are one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the EUWA; or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the "FSMA") and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA or (iii) not a qualified investor as defined in the UK Prospectus Regulation.

Consequently, no key information document required by Regulation (EU) No 1286/2014 (the "EU PRIIPs Regulation") or Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling Securities or otherwise making them available to Retail Investors in the EEA or the UK has been or will be prepared by TSB or any of its subsidiaries or affiliates, and therefore offering or selling Securities or otherwise making them available to any Retail Investor in the EEA or the UK may be unlawful under the EU PRIIPs Regulation and/or the UK PRIIPs Regulation.

UK MiFIR product governance: Solely for the purposes of each manufacturer's product approval process and unless otherwise specified in relation to any series of Securities, the target market for the Securities is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA and all channels for distribution of the Securities to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending Securities (a "distributor") should take into consideration the manufacturers' target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook is responsible for undertaking its own target market assessment in respect of such Securities (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

MiFID II product governance: Solely for the purposes of each manufacturer's product approval process and unless otherwise specified in relation to any series of securities, the target market for the Securities is eligible counterparties and professional clients only, each as defined in MiFID II and all channels for distribution of the Securities to eligible counterparties and professional clients are appropriate. Any distributor should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of such Securities (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

Accuracy of Information

The materials included on this website are historical in nature and only current as of the date of the materials. Whilst TSB has taken all reasonable steps to ensure that all documents (including any prospectuses) and all other information contained on the website are accurate as of the date stated, it does not give any warranties, undertakings or representations that any documents or any other information contained on the website are accurate, current or complete. Any person accessing the website should therefore be aware that the information contained in any document (including any prospectuses or documents incorporated by reference into any prospectuses) or otherwise on this website may be out of date and that TSB may remove or make changes to the materials available on this website at any time. Neither TSB nor any other party has any duty to maintain or update any material on the website. Certain materials placed on this website may contain legends, limitations, qualifications or other restrictions relating to the nature or use of such materials. Any such legends, limitations, qualifications or restrictions continue to apply notwithstanding that the materials have been placed on the website.

Prospective investors must remember that past results are no indication of future performance. TSB does not act as an adviser to, or owe any fiduciary duty to any person accessing this website. Neither TSB nor any of its affiliates, agents or representatives makes any representation regarding the possible legal, regulatory, accounting or tax consequences of an investment in the securities described on this website. Any person accessing this website should make its own independent evaluation of the transactions described, the risks involved, and the relevance and adequacy of the information in the material contained on the website and should make such other investigations as it deems necessary. Investors should also consult their own legal, tax, and other advisers, before making any investment decisions, including, without limitation, on the suitability of investing in the securities in light of their particular circumstances. The information on this website is not tailored for any particular investor and does not constitute individual investment advice. Any person accessing information on this website should also be aware that such information may contain additional disclaimers or limitations on liability. No information made available on this website purports to be nor constitutes financial, investment, tax, accounting or legal advice or recommendation. Nor should any such information be considered a recommendation of securities by TSB in any way.

By accessing this website, you acknowledge and agree that neither TSB, nor any person who controls it, nor any affiliate, director, officer, employee or agent of it, nor any affiliate of any such person, has or accepts any liability arising out of or in connection with the use of the Prospectus or any other information set forth on this website.

The information contained in this website has been converted from the format from which the original version of such information was printed. Reasonable care has been exercised to provide accurate information but there can be no assurance that this information is free from error.

TSB will under no circumstances be liable to you or any third party, regardless of the form of action, for any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever, even if TSB has been advised of the possibility of such damages. Any information sourced from third parties ("Third Party Materials") made available on this site, does not imply any endorsement by TSB for the opinions, ideas, products, information or services offered therein and TSB does not warrant the completeness or accuracy of any Third Party Materials.

No person may enforce any terms and conditions of these Terms under the Contracts (Rights of Third Parties) Act 1999. Notwithstanding any other term of these Terms, the consent of any third party is not required for any variation or termination of these Terms.

TSB may have its own interests in relation to the issuers or any affiliates of the issuers of any Securities or transactions mentioned on the website.

If any provision of these Terms is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, then (i) that shall not affect the other provisions of these Terms which shall remain in full force and effect; and (ii) if that provision would be valid or enforceable if part of that provision were deleted, then that provision shall apply with such modification(s) as may be necessary to make it valid and enforceable.

Governing law

These Terms and any non-contractual obligations arising out of or in connection with them will be governed by, and construed in accordance with, the laws of England and Wales. The English courts will have jurisdiction to settle any disputes which may arise in connection with the terms of access or any non-contractual obligations arising out of or in connection with these Terms.

Any acknowledgment, agreement or other type of click through button on the Website that is selected to evidence agreement or an acknowledgement shall have the same force and validity as a paper copy of an agreement that has been manually signed and delivered.

By clicking "I agree" below, you are certifying that you have read, understood and agreed to the information provided above. If you are not permitted to view materials on this or subsequent web page(s) or are in any doubt as to whether you are permitted to view these materials, please exit this web page or click "I disagree" below.