Shares in TSB will be available to members of the public via intermediaries, as well as institutional investors.
Lloyds Banking Group said the retail offering will contain an incentive allowing each retail investor to receive one free share for every 20 shares acquired up to the value of £2,000 and kept for a year after the float.
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A year ago the International Court of Justice ruled that Japan's decades-old whale hunt in the Antarctic should stop.
Shadow chancellor John McDonnell has backed a free vote for MPs on the issue.
Savers into the new scheme can expect rates as high as 4 per cent from some banks.