Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Wexner Leslie H.	2. Issuer Name and Ticker or Trading Symbol L Brands, Inc. [ LB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) C/O L BRANDS, INC., THREE LIMITED PARKWAY	3. Date of Earliest Transaction (MM/DD/YYYY) 10/2/2020
(Street) COLUMBUS,, OH 43216 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/2/2020		G⁽¹⁾	V	1372664	D	⁽²⁾	6111181 ⁽³⁾⁽⁴⁾⁽⁵⁾	I ⁽³⁾⁽⁴⁾⁽⁵⁾	The Linden West Trust
Common Stock	10/7/2020		G⁽¹⁾	V	343166	A	⁽²⁾	343166 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Pine Trust
Common Stock	10/7/2020		G⁽¹⁾	V	343166	A	⁽²⁾	343166 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Willow Trust
Common Stock	10/7/2020		G⁽¹⁾	V	343166	A	⁽²⁾	343166 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Cedar Trust
Common Stock	10/7/2020		G⁽¹⁾	V	343166	A	⁽²⁾	343166 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Rose Trust
Common Stock	10/7/2020		G⁽⁷⁾	V	352941	D	⁽²⁾	10814206 ⁽⁴⁾⁽⁵⁾⁽⁸⁾	D ⁽⁴⁾⁽⁵⁾⁽⁸⁾
Common Stock	10/7/2020		G⁽⁷⁾	V	352941	A	⁽²⁾	352941 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Linden East II trust
Common Stock	10/7/2020		G⁽⁹⁾	V	352941	D	⁽²⁾	15363754 ⁽³⁾⁽⁴⁾⁽⁵⁾	D ⁽³⁾⁽⁴⁾⁽⁵⁾
Common Stock	10/7/2020		G⁽⁹⁾	V	352941	A	⁽²⁾	352941 ⁽⁴⁾⁽⁵⁾⁽⁶⁾	I ⁽⁴⁾⁽⁵⁾⁽⁶⁾	Linden West II trust
Common Stock	11/15/2020		M⁽¹⁰⁾		1260	A	⁽²⁾	15365014 ⁽³⁾⁽⁴⁾⁽⁵⁾	D

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units ⁽¹¹⁾	⁽¹¹⁾	11/15/2020		M ⁽¹⁰⁾			1260	⁽¹⁰⁾	1/19/2023	Common Stock	1260	⁽²⁾	0	D ⁽³⁾⁽⁵⁾

Explanation of Responses:
(1)	Gift of shares by The Linden West Trust to its beneficiaries, the children of Leslie H. Wexner ("Mr. Wexner") and Abigail S. Wexner ("Mrs. Wexner") on 10/2/2020, who then gifted the shares to four separate trusts on 10/7/2020.
(2)	Not applicable.
(3)	Owned by Mr. Wexner directly. Owned by Abigail S. Wexner ("Mrs. Wexner") indirectly, through Mr. Wexner.
(4)	See Exhibit 99.1 for a table of all non-derivative shares of the Issuer beneficially owned directly or indirectly by Mr. Wexner and Mrs. Wexner.
(5)	Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.
(6)	Owned by Mrs. Wexner indirectly. Owned by Mr. Wexner indirectly, through Mrs. Wexner.
(7)	Gift of shares by Mrs. Wexner to Linden East II trust.
(8)	Owned by Mrs. Wexner directly. Owned by Mr. Wexner indirectly, through Mrs. Wexner.
(9)	Gift of shares by Mr. Wexner to Linden West II trust.
(10)	Partial vesting and settlement of restricted share units granted to Mr. Wexner on 1/29/2020 ("RSUs"), and forfeiture of 13,856 RSUs.
(11)	The RSUs confer no voting rights, may not be sold, and automatically settle for an equivalent number of shares of common stock of the Issuer on the vesting date.

Remarks:
Exhibit 99.1 - Additional Responses and Joint Filer Information, incorporated herein by reference.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Wexner Leslie H. C/O L BRANDS, INC. THREE LIMITED PARKWAY COLUMBUS,, OH 43216	X	X
WEXNER ABIGAIL S C/O L BRANDS, INC. THREE LIMITED PARKWAY COLUMBUS, OH 43216	X