Barclays PLC — Capital/Financing Update 2010

Nov 19, 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

EUR 75,000,000 Index Linked Notes linked due 5 March 2019 (the "Notes")

Series GSN28674

under the Global Structured Securities Programme

The Securities will be publicly offered in France from and including 19 November 2010, 8a.m. CET, to and including 28 February 2011, 5p.m. CET (the "Offer Period")

Issue Price: 100 per cent. 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 19 November 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.

Index Disclaimers

STOXX Disclaimer

STOXX and its licensors (the "Licensors") have no relationship to Barclays Bank PLC ("Barclays"), other than the licensing of the Euro Stoxx 50 Index® and the related trademarks for use in connection with theNotes.

STOXX and its Licensors do not:

• Sponsor, endorse, sell or promote the Notes; $1.$
• $2.5$ Recommend that any person invest in the Notes or any other securities;
• 1. Have any responsibility or liability for or make any decisions about the timing, amount or pricing of Notes:
• $4.$ Have any responsibility or liability for the administration, management or marketing of the Notes; and
• $5¹$ Consider the needs of the Notes or the owners of the Notes in determining, composing or calculating the Euro Stoxx 50 Index ®or have any obligation to do so.

STOXX and its Licensors will not have any liability in connection with the Notes. Specifically:

STOXX and its Licensors do not make any warranty, express or implied and disclaim any and all warranty about:

• $\mathbf{1}$ . The results to be obtained by the Notes, the owner of the Notes or any other person in connection with the use of the Euro Stoxx 50 Index® and the data included in the Euro Stoxx 50 Index® including symbol ®;
• $2.$ The accuracy or completeness of the Euro Stoxx 50 Index® and its data;
• The merchantability and the fitness for a particular purpose or use of the Euro Stoxx 50 Index® $\overline{3}$ . including symbol ® and its data;
• $\overline{4}$ . STOXX and its Licensors will have no liability for any errors, omissions or interruptions in the Euro Stoxx 50 Index® including symbol ® or its data; and
• 1. Under no circumstances will STOXX or its Licensors be liable for any lost profits or indirect, punitive, special or consequential damages or losses, even if STOXX or its Licensors knows that they might occur.

The licensing agreement between Barclays and STOXX is solely for their benefit and not for the benefit of the owners of the Notes or any other third parties.

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.

Parties Barclays Bank PLC Issuer: 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, THE BASE PROSPECTUS AND THE SUPPLEMENATL PROSPECTUS SEE "PURCHASE AND SALE" IN THE BASE PROSPECTUS.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBIECT 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

1	(i)	Series:	GSN28674
	(ii)	Tranche:	1
2	Currency:		Euro ("EUR")
3	Notes:		Applicable
	(i)	Aggregate Nominal Amount as at the Issue Date:	EUR 75,000,000
		(a) Series:	EUR 75,000,000
		(b) Tranche:	EUR 75,000,000
	(ii)	Specified Denomination:	EUR 1,000
	(iii)	Calculation Amount per Security as at the Issue Date:	Specified Denomination
4	Certificates:		N/A
5	Form:
	(i)	Global/Definitive/Uncertificated and dematerialised:	Global Bearer Securities: Temporary Global Security, exchangeable for a Permanent Global Security
	(ii)	NGN Form:	N/A
	(iii)	Held under the NSS:	N/A
	(iv)	CGN Form:	Applicable
	(v)	CDI s :	N/A
6	Trade Date:		4 November 2010
7	Issue Date:		19 November 2010
8	Redemption Date:		5 March 2019, subject to adjustment in accordance with the Business Day Convention
9	Issue Price:		100 per cent. of the Aggregate Nominal Amount
10		Relevant Stock Exchange[s]:	London Stock Exchange
	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:	As per Conditions 4 and 24 of the Base Conditions
14		Interest Rate[s]:	Variable Rate
	(i)	Fixed Rate:	N/A
	(ii)	Floating Rate:	N/A

(i) If on any Valuation Date; (with $i$ from 1 to 8), Index_i is equal to or greater than 65 per cent. of Index₀, then the Interest Amount shall be calculated in accordance with the following formula:

Calculation Amount x 7.00%

(ii) If on any Valuation Date; (with i from 1 to 8), Index_i is less than 65 per cent. of Index₀, no Interest Amount will be paid on the corresponding Interest Payment Date.

Where:

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

Schedule. $N/A$

"i" means each iteration from 1 to 8 corresponding to a Valuation Date_i, as set out in the Schedule.

"Index_i" means the Index Level on any Valuation Date_i.

"Index₀" means the Index Level on the Initial Valuation Date.

"Initial Valuation Date" means 3 March 2011.

	(iv) Zero Coupon:	N/A
	15 Screen Rate Determination:	N/A

• 16 ISDA Determination:
• 17 Margin:
• 18 Minimum/Maximum Interest Rate:
• 19 Interest Commencement Date:
• 20 Interest Determination Date:
• 21 Interest Calculation Periods:

22 Interest Payment Dates:

23 Day Count Fraction:

24 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 Conditions:

Provisions relating to Redemption

25 Settlement Method:

(i) For the purposes of Condition 5.1 of the Base

Each Interest Payment Date, as set out in the

			Conditions: Cash Settlement (ii) For the purposes of Condition 5.5 of the Base Conditions: Cash Settlement
26		Settlement Currency:	EUR
27		Settlement Number:	As defined in Condition 24 of the Base Conditions
28		Terms relating to Cash Settled Securities:
	(i)	Final Cash Settlement Amount:	(i) If on the Final Valuation Date, Index $_f$ is equal to or greater than 65 per cent. of Index 0 , EUR 1,000 per Calculation Amount per Security as at the Issue Date, subject to Condition 8.3 of the Base Conditions; or
			(ii) If on the Final Valuation Date, Index $_f$ is less than 65 per cent. of Index 0 , an amount per Security calculated in accordance with the following formula:
			Calculation Amount x [Indexf / Indexo]
			Where:
			"Index f " means the Index Level on the Final Valuation Date.
			"Final Valuation Date" means as set out in the Schedule, being 28 February 2019.
	(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:			Date.	Applicable: If on any Valuation Date i (with i from 2 to 7), Index i is equal to or greater than 110 per cent. of Index 0 , a Specified Early Redemption Event shall be deemed to have occurred on such Valuation
	(i)		Automatic Early Redemption	Applicable
	(ii)		Cash Settled Securities:
		(a)	Specified Early Cash Settlement Amount:	Base Conditions	EUR 1,000 per Calculation Amount per Security as at the Issue Date, subject to Condition 8.3 of the
		(b)	Specified Cash Redemption Date(s):	the Schedule.	Each Specified Cash Redemption Date, as set out in
	(iii)		Physically Delivered Securities:	N/A
	(iv)		Specified Early Redemption Notice Period:	As per Condition 5.5 of the Base Conditions
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:		N/A
36	Share Linked Securities:		N/A
37	only):	Index Linked Securities (Equity indices		Applicable
	(i)	Asset"):	Index/Indices (each a "Reference	The EuroStoxx50 sponsored by STOXX (the "Index")	calculated Index, and as
			Future Price Valuation:	(Bloomberg Code: SX5E)
	(ii) (iii)		Exchange-traded Contract:	N/A N/A
	(ii)		$Exchange[s]$ :	Multi-exchange Index
	(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 a Scheduled Trading Day
	(vii)	Valuation Date:	(i) The Initial Valuation Date;
			(ii) Each Valuation Date i , as set out in the Schedule; and
			(iii) The Final Valuation Date.
	(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:	EUR 1,000
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
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: XS0558382163 Common Code: 055838216
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.
(ii)	Estimate of total expenses related GBP 2,700

to admission to trading:

2 RATINGS

Ratings:

The Securities have not been individually rated.

3 NOTIFICATION

The Financial Services Authority has provided the Autorité des Marches Financiers (the "AMF") in France, with a certificate of approval attesting that the Base Prospectus has been drawn up in accordance with the Prospectus Directive.

4 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in "Purchase 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
• EUR 75,000,000 $(ii)$ Estimated net proceeds:
• $(iii)$ Estimated total expenses: $N/A$

6 FIXED RATE SECURITIES ONLY - YIELD

$N/A$ Indication of yield:

7 FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES

$N/A$

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

Performance of the Index can be obtained from various internationally recognised published or electronically available data vendors including Bloomberg (Page SX5E Index).

Investors should note that historical performance should not be taken as an indication of future performance.

The Issuer does not intend to provide any post-issuance information in relation to the performance of the Index.

The payouts of the Notes are linked to the Index and investors should form their own views on the merits of an investment related to this based on their own investigation thereof.

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

$N/A$

10 OPERATIONAL INFORMATION

Any clearing system(s) other than Euroclear $N/A$ Bank S.A./N.V. and Clearstream Banking Société Anonyme (together with their addresses) and the relevant identification $number(s)$ :

Delivery:

Delivery free of payment

$N/A$

Names and addresses of additional Paying Agents(s) (if any) [and APK Issue and Paying Agent / Swedish Issue and Paying Agent / VPS Issue and Paying Agent / Spanish Securities Issue and Paying Agent]:

Intended to be held in a manner which would $No$ allow Eurosystem eligibility:

11 OFFER INFORMATION

Offer Price:

Each potential investor is able to buy the Notes on a weekly basis, at the pre-fixed Offer Price (% of par) during each weekly period ending on the corresponding date, as specified below:

$19-Nov-10$	99.86%
$26 - Nov-10$	99.87%
03-Dec-10	99.88%
$10$ -Dec- $10$	99.89%
$17 - Dec-10$	99.90%
24-Dec-10	99.91%
31-Dec-10	99.92%
07-Jan-11	99.93%
14-Jan-11	99.94%
$21$ -Jan-11	99.95%
28-Jan-11	99.96%

04-Feb-11	99.97%
11-Feb-11	99.98%
18-Feb-11	99.99%
25-Feb-11	100.00%
28-Feb-11	100.00%

Conditions to which the offer is subject:

Description of the application process:

The Notes will be publicly offered in France, through the following institution (the "Distributor"):

Barclays Bank PLC, France.

$N/A$

The Offer Period will be from and including 19 November 2010, 8am CET, to and including 28 February 2011, 5pm CET.

Applications for the Notes can be made in France through the Distributor. The distribution will be in accordance with the Distributor's usual procedures.

The Notes are issued on the Issue Date and will be fully subscribed by the Distributor and thereafter offered to the public in the secondary market in France, starting from and including 19 November 2010, 8a.m. CET, to and including 28 February 2011, 5p.m. CET.

Details of the minimum and/or maximum N/A amount of application:

Description of possibility to reduce subscriptions and manner for refunding excess amount paid by applicants:

Details of the method and time limits for paying up and delivering the Notes:

Manner in and date on which results of the offer are to be made public:

Procedure for exercise of any right of pre- $N/A$ emption, negotiability of subscription rights and treatment of subscription rights not exercised:

Categories of prospective investors to which the Securities are offered and whether tranche(s) have been reserved $N/A$

The Notes are issued on the Issue Date and shall be delivered to the Distributor against the payment of the net subscription proceeds on a weekly basis.

$N/A$

Offers may be made by the Distributor to any person in France. Offers (if any) in other EEA countries will only be made by the Distributor pursuant to an exemption

for certain countries:	from the obligation under the Prospectus Directive as implemented in such countries to publish a prospectus.
Process for notification to applicants of the amount allotted and the indication whether dealing may begin before notification is made:	No dealings in the Notes may take place prior to the Issue Date.
Amount of any expenses and taxes specifically charged to the subscriber or purchaser:	N/A
Name(s) and address(es), to the extent	The Distributor named above at:
known to the Issuer, of the placers in the	Barclays Bank PLC, France
various countries where the offer takes	183 Avenue Daumesnil
place:	75012 Paris
	France

The Issue Price includes an upfront commission element to be shared with a third party, which will be no more than 10.00 per cent. of the Issue Price (1.06 per cent. per annum in annualised terms). Further details of the commission element are available upon request.

Schedule

	Valuation Date	Interest Payment Date	Specified Early Redemption
			Date
1	29-Feb-12	05-Mar-12	N/A
$\overline{2}$	28-Feb-13	05-Mar-13	05-Mar-13
3	28-Feb-14	05-Mar-14	05-Mar-14
$\overline{4}$	27-Feb-15	04-Mar-15	$04$ -Mar-15
5	29-Feb-16	03-Mar-16	03-Mar-16
6	28-Feb-17	03-Mar-17	03-Mar-17
$\overline{7}$	28-Feb-18	05-Mar-18	05-Mar-18
8	28-Feb-19 (the "Final Valuation
	Date")	05-Mar-19	N/A

Valuation Dates / Interest Payment Dates / Specified Early Redemption Dates