Barclays PLC — Capital/Financing Update 2010

Sep 24, 2010

Final Terms

BARCLAYS BANK PLC

(Incorporated with limited liability in England and Wales)

BARCLAYS CAPITAL (CAYMAN) LIMITED

(Incorporated with limited liability in the Cayman Islands)

GLOBAL STRUCTURED SECURITIES PROGRAMME

for the issue of Securities

BARCLAYS BANK PLC

USD 3,000,000 Equity Linked Notes due September 2012

under the Global Structured Securities Programme

Series G2010ABKE288

Issue Price: 100% of par

This document constitutes the final terms of the Notes (the "Final Terms") described herein for the purposes of Article 5.4 of the Directive 2003/71/EC and is prepared in connection with the Global Structured Securities Programme established by Barclays Bank PLC (the "Bank") and Barclays Capital (Cayman) Limited ("BCCL") and is supplemental to and should be read in conjunction with the Base Prospectus dated 6 August 2010, as supplemented and amended from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Directive 2003/71/EC. Full information on the Issuer and the offer of the Securities is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus is available for viewing during normal business hours at the registered office of the Issuer and the specified office of the Issue and Paying Agent for the time being in London and copies may be obtained from such office. Words and expressions defined in the Base Prospectus and not defined in this document shall bear the same meanings when used herein.

The Issuer accepts responsibility for the information contained in these Final Terms. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in these Final Terms is in accordance with the facts and does not contain anything likely to affect the import of such information.

Investors should refer to the sections headed "Risk Factors" in the Base Prospectus for a discussion of certain matters that should be considered when making a decision to invest in the Securities.

Barclays Capital

Final Terms dated 24 September 2010

The distribution of this document and the offer of the Securities in certain jurisdictions may be restricted by law. Persons into whose possession these Final Terms come are required by the Bank to inform themselves about and to observe any such restrictions. Details of selling restrictions for various jurisdictions are set out in "Purchase and Sale" in the Base Prospectus. In particular, the Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended, and are subject to US tax law requirements. Trading in the Securities has not been approved by the US Commodity Futures Trading Commission under the US Commodity Exchange Act of 1936, as amended. Subject to certain exceptions, the Securities may not at any time be offered, sold or delivered in the United States or to US persons, nor may any US persons at any time trade or maintain a position in such Securities.

iShares Disclaimer

iShares is a registered mark of BlackRock Institutional Trust Company, N.A. ("BTC"). BTC has licensed certain trademarks and trade names of BlackRock to Barclays Bank PLC. The Notes are not sponsored, endorsed, sold, or promoted by BTC or any of its affiliates (collectively "BlackRock"). BlackRock makes no representations or warranties to the owners of the Notes or any member of the public regarding the advisability of investing in the Notes. BlackRock has no obligation or liability in connection with the operation, marketing, trading or sale of the Notes.

Part A

Terms and Conditions of the Securities

The Securities shall have the following terms and conditions, which shall complete, modify and/or amend the Base Conditions and/or any applicable Relevant Annex(es) set out in the Base Prospectus dated 6 August 2010.

Issuer:	Barclays Bank PLC
Guarantor:	N/A
$Manager[s]$ :	Barclays Bank PLC
Determination Agent:	Barclays Bank PLC
Issue and Paying Agent:	The Bank of New York Mellon
Stabilising Manager:	N/A
Registrar:	N/A
CREST Agent:	N/A
Paying Agents:	N/A
Transfer Agent:	N/A
Exchange Agent:	N/A
Additional Agents:	N/A

THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND THE SECURITIES COMPRISE BEARER SECURITIES THAT ARE SUBJECT TO US TAX LAW REQUIREMENTS. SUBJECT TO CERTAIN EXCEPTIONS. THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT ("REGULATION S")). THESE FINAL TERMS HAVE BEEN PREPARED BY THE ISSUER FOR USE IN CONNECTION WITH THE OFFER AND SALE OF THE SECURITIES OUTSIDE THE UNITED STATES TO NON-US PERSONS IN RELIANCE ON REGULATION S AND FOR LISTING OF THE SECURITIES ON THE RELEVANT STOCK EXCHANGE, IF ANY, AS STATED HEREIN. FOR A DESCRIPTION OF THESE AND CERTAIN FURTHER RESTRICTIONS ON OFFERS AND SALES OF THE SECURITIES AND DISTRIBUTION OF THESE FINAL TERMS AND THE BASE PROSPECTUS SEE "PURCHASE AND SALE" IN THE BASE PROSPECTUS.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS. INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

Provisions relating to the Securities

$\mathbf{1}$	(i)	Series:	G2010ABKE288
	(ii)	Tranche:	1
2	Currency:		USD
3	Notes:
	(i)	Aggregate Nominal Amount as at the Issue Date:	USD 3,000,000
	(ii)	Specified Denomination:	USD 1,000
	(iii)	Calculation Amount per Security as at the Issue Date:	USD 1,000
4	Certificates:		N/A
5	Form:
	(i)	Global/Definitive/Uncertificated and	Global Bearer Securities:
		dematerialised:	Temporary Global Security, exchangeable for Permanent Global Security
	(ii)	NGN Form:	N/A
	(iii)	Held under the NSS:	N/A
	(iv)	CGN Form:	Applicable
	(v)	CDIs:	N/A
6	Trade Date:		10 September 2010
7	Issue Date:		24 September 2010
8	Redemption Date:		24 September 2012
9	Issue Price:		100 per cent. of the Aggregate Nominal Amount
10	Relevant Stock Exchange[s]:		N/A
11	The following Relevant Annex(es) shall apply to the Securities (specify each applicable Relevant Annex):		Equity Linked Annex
		Provisions relating to interest (if any) payable on the Securities
12	Interest:		Applicable
13		Interest Amount:	Variable Rate: Index Linked Interest
			(further particulars specified below)
14		Interest Rate[s]:	N/A
	(i)	Fixed Rate:	N/A
	(ii)	Floating Rate:	N/A

Applicable: $(iii)$ Variable Rate:

(A) If on any Valuation Date(i) (where $i =$ from 1 to 4), Index(i) is equal to or greater than 60% of Index(0), the Issuer shall pay on the relevant Interest Payment Date (i) an Interest Amount to be calculated in accordance with the following:

Calculation Amount x (i x 9.40%) - Paid Interest

(B) Otherwise, no Interest Amount shall be payable on the corresponding Interest Payment Date (i) and the trade continues to the next Valuation Date

Where:

"Paid Interest" means in respect of each Valuation Date(i), the sum of all Interest Amounts paid from the Issue Date to (and including) the immediately preceding Interest Payment Date.

"Index(0)" means the Index Price on the Trade Date.

"Index(i)" means the Index Price on the relevant Valuation Date.

"i" means a number as defined in the Schedule.

"Index Price" means the price of the Index at the Valuation Time on an Exchange Business Day.

	(iv)	Zero Coupon:	N/A
	(v)	Bond Linked Securities - Fixed Coupon:	N/A
	(vi)	Bond Linked Securities - Pass Through Interest:	N/A
15		Screen Rate Determination:
16		ISDA Determination:
17		Margin:
18		Minimum/Maximum Interest Rate:
19		Interest Commencement Date:
20		Interest Determination Date:	N/A
21		Interest Calculation Periods:	N/A

22		Interest Payment Dates:	Each Interest Payment Date, as set out in the Schedule.
23		Day Count Fraction:	N/A
24	Conditions:	Fall back provisions, rounding provisions, denominator and any other terms relating to the method of calculating interest, if different from those set out in the Base	N/A
		Provisions relating to Redemption
25		Settlement Method:	(i) For the purposes of Condition 5.1 and Condition 5.5 of the Base Conditions: Cash Settlement
26		Settlement Currency:	USD
27		Settlement Number:	As defined in Condition 24 of the Base Conditions
28		Terms relating to Cash Settled Securities:
	(i)	Final Cash Settlement Amount:	The Final Cash Settlement Amount will be, as determined in accordance with the following formula:
			(A) If on the Final Valaution Date, Index(f) is equal to or greater than $60\%$ of Index(0), then the Final Cash Settlement Amount shall be calculated as follows:
			Calculation Amount x 100%
			(B) Otherwise, if Index(f) is less than $60\%$ of Index(0), then the Final Cash Settlement Amount shall be calculated as follows:
			Calculation $Amount \times \frac{1}{60} x \frac{Index(f)}{Index(0)}$
			Where:
			"Index(f)" means the Index Price on the Final Valuation Date.
	(ii)	Early Cash Settlement Amount:	As defined in Condition 24 of the Base Conditions
	(iii)	Early Cash Redemption Date:	As defined in Condition 24 of the Base Conditions
29	Securities:	Terms relating to Physically Delivered	N/A

30	Nominal Call Event:			N/A
31	Call Option:			N/A
32	Put Option:			N/A
33	Specified Early Redemption Event:			Applicable:
				If, on any Valuation Date except the Final Valuation Date, Index(i) is equal to or greater than Index(0), a Specified Early Redemption Event is deemed to have occurred and the Notes will be redeemed on the Specified Early Cash Redemption Date immediately following such Valuation Date.
	(i)		Automatic Early Redemption:	Applicable
	(ii)	Cash Settled Securities:
		(a)	Specified Early Cash Settlement Amount:	USD 1,000 per Calculation Amount per Security as at the Issue Date, subject to Condition 8.3 of the Base Conditions
		(b)	Specified Early Cash Redemption Date(s):	Each date as specified in the Schedule under "Specified heading Early the Cash Redemption Date"
	(iii)		Physically Delivered Securities:	N/A
34	Maximum and Minimum Redemption Requirements:			N/A
35	Additional Disruption Events in addition to those specified in Condition 24 of the Base Conditions and any applicable Relevant Annex:
	(i)		Affected Jurisdiction Hedging Disruption:	N/A
	(ii)		Affected Jurisdiction Increased Cost of Hedging:	N/A
	(iii)		Affected Jurisdiction:	N/A
	(iv)		Other Additional Disruption Events:	N/A
	(v)		The following shall not constitute Additional Disruption Events:	N/A
36	Share Linked Securities:			N/A
37	Index Linked Securities (Equity indices only):			Applicable
	(i)	Asset"):	Index/Indices (each a "Reference	iShares® MSCI Brazil Index Fund (Bloomberg ticker: EWZ UP)

	(ii)	Future Price Valuation:	N/A
	(iii)	Exchange-traded Contract:	N/A
	(ii)	Exchange[s]:	New York Stock Exchange
	(iii)	Related Exchange[s]:	All Exchanges
	(iv)	Exchange Rate:	N/A
	(v)	Weighting for each Reference Asset comprising the Basket of Reference Assets:	N/A
	(vi)	Index Level of each Reference Asset:	The level of the Index at the Valuation Time on an Exchange Business Day.
	(vii)	Valuation Date:	Observation Date and Each the Final Valuation Date, as set out in the Schedule.
	(viii)	Valuation Time:	As defined in the Equity Linked Annex
	(ix)	Averaging:	N/A
	(x)	Additional Disruption Event in respect of Index Linked Securities:	N/A
	(xi)	FX Disruption Event:	N/A
	(xii)	Other adjustments:	N/A
38		Inflation Linked Securities:	N/A
39	FX Linked Securities:		N/A
40	Credit Linked Securities:		N/A
41	Commodity Linked Securities:		N/A
42	Proprietary Index Linked Securities:		N/A
43		Bond Linked Securities:	N/A
44		Mutual Fund Linked Securities:	N/A
		Provisions relating to Settlement
45		Minimum Settlement Amount:	N/A
46	Settlement in respect of VP Notes, APK Registered Securities, Dutch Securities, Italian Securities, Swedish Registered Securities, VPS Registered Securities or Spanish Securities:		N/A
47	Additional provisions relating to Taxes and Settlement Expenses:		N/A
Definitions
48	Business Day:		As defined in Condition 24 of the Base

		Conditions
49	Additional Business Centre(s):	N/A
	Selling restrictions and provisions relating to certification
50	Non-US Selling Restrictions:	As described in the Base Prospectus In addition to those described in the Base Prospectus, each purchaser represents and agrees that no action has been made or will be taken that would permit a public offering of the Notes or possession or distribution of any offering material in relation to the Notes in any jurisdiction where action for that purpose is required. No offers, sales, re-sales or deliveries of any Notes or distribution of any offering material relating to the Notes, directly or indirectly, may be made in or from jurisdiction any except in which will circumstances result in compliance with any applicable laws and regulations and which will not impose any
		obligation on the Issuer
51	Applicable TEFRA exemption:	TEFRA D: D Rules Applicable
General
52	Business Day Convention:	Modified Following
53	Relevant Clearing System[s]:	Euroclear
		Clearstream
54	If syndicated, names [and addresses] of Managers [and underwriting commitments]:	N/A
55	Details relating to Partly Paid Securities:	N/A
56	Relevant securities codes:	ISIN: XS0542723670
		Common Code: 054272367
57	Modifications to the Master Subscription Agreement and/or Agency Agreement:	N/A
58	Additional Conditions and/or modification to the Conditions of the Securities:	N/A

Part B Other Information

$\mathbf{1}$ LISTING AND ADMISSION TO TRADING

(i)	Listing	London
(ii)	Admission to trading:	Application is expected to be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the London Stock Exchange's Regulated Market on or around the Issue Date.
(iii)	Estimate of total expenses related to admission to trading:	GBP 300
RATINGS

Ratings:

$\overline{2}$

The Securities have not been individually rated.

NOTIFICATION $\overline{3}$

$N/A$

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE $\overline{4}$

"Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer

$5¹$ REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer:	General funding
-------------------------------	-----------------

• $(ii)$ Estimated net proceeds: USD 3,000,000
• $(iii)$ Estimated total expenses: $N/A$

$\mathbf{f}$ FIXED RATE SECURITIES ONLY - YIELD

Indication of yield: $N/A$

FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES $\overline{7}$

$N/A$

PERFORMANCE OF REFERENCE ASSET(S) OR OTHER VARIABLE, EXPLANATION OF EFFECT 8 ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE REFERENCE ASSET(S) AND/OR OTHER UNDERLYING

$N/A$

PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF $\mathbf{9}$ INVESTMENT

$N/A$

10 OPERATIONAL INFORMATION

Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking Société Anonyme (together with their addresses) and the relevant identification	N/A
$number(s)$ :
Delivery:	Delivery free of payment
Names and addresses of additional Paying Agents(s) (if any) [and APK Issue and Paying Agent / VP Issuing Agent/ [ENL Issuing Agent] / Swedish Issue and Paying Agent / VPS Issue and Paying Agent / Spanish Securities Issue and Paying Agent]:	N/A
Intended to be held in a manner which would allow Eurosystem eligibility:	N/A

11 OFFER INFORMATION

The Issue Price includes a commission element shared with a third party. Further details of the commission element are available upon request.

Schedule

Valuation Dates / Interest Payment Dates / Specified Early Cash Redemption Date(i)

(i)	Valuation Date (i)	Interest Payment Dates / Specified Early Cash Redemption Date(i)
	10th March 2011	24 th March 2011
	12 th September 2011	26 th September 2011
3	$12th$ March 2012	26 th March 2012
	10 th September 2012	24th September 2012

$V₂$