Barclays PLC — Capital/Financing Update 2010

Dec 2, 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 30,000,000 CMS Floating Rate Notes due 2 December 2021 (the "Notes")

Series GSN28875

under the Global Structured Securities Programme

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 2 December 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.

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
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 AND THE SUPPLEMENTAL 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

$\mathbf{1}$	Series:		GSN28875
2	Currency:		Euro ("EUR")
3	Notes:		Applicable
	(i)	Aggregate Nominal Amount as at the Issue Date:	EUR 30,000,000
	(ii)	Specified Denomination:	EUR 50,000
	(iii)	Calculation Amount per Security as at the Issue Date:	EUR 50,000
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:	Applicable
	(iii)	Held under the NSS:	N/A
	(iv)	CGN Form:	N/A
	(v)	CDI s :	N/A
6	Trade Date:		18 November 2010
7	Issue Date:		2 December 2010
8	Redemption Date:		2 December 2021, 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):	N/A
		Provisions relating to interest (if any) payable on the Securities

Applicable 12 Interest:

13	Interest Amount:	In respect of each Interest Payment Date
		from and including the Issue Date to but
		excluding 2 December 2013, the Interest
		Rate shall be 4.25%.
		In respect of the subsequent Interest
		Payment Dates from and including 2

December 2013 to but excluding the Redemption Date, the Interest Rate shall be calculated according to the following formula: min(CMS30 + 0.15%, 7.00%) Where: "CMS30" means 30 year EUR Swap rate as displayed on ISDAFIX2 at 11.00am Central European Time (CET). 14 Interest Rate[s]: $N/A$ 15 Screen Rate Determination: $N/A$ 16 ISDA Determination: $N/A$ 17 Plus 0.15 per cent. Margin: 18 Minimum/Maximum Interest Rate: Applicable 0.00 per cent. per annum $(i)$ Minimum Interest Rate $(ii)$ Maximum Interest Rate 7.00 per cent. per annum 19 Interest Commencement Date: Issue Date 20 Interest Determination Date: 2 Business Days prior to commencement of each Interest Calculation Period (in advance) Interest Calculation Periods: As defined in Condition 24 of the Base 21 Conditions $(i)$ Interest Period End Dates: Each Interest Payment Date, save that no Interest Period End Date shall be adjusted, notwithstanding the adjustment of an Interest Payment Date in accordance with the Business Day Convention $(ii)$ Interest calculation method for short $N/A$ or long Interest Calculation Periods: 22 Interest Payment Dates: Annually in arrears on every 2 December, commencing from 2 December 2011 up to and including the Redemption Date without an adjustment in accordance with the Business Day Convention. 23 Day Count Fraction: 30/360 24 $N/A$ Fall back provisions, rounding provisions, denominator and any other terms relating to

5

the method of calculating interest, if different from those set out in the Base

Conditions:

Provisions relating to Redemption

25	Settlement Method:		For the purposes of Condition 5.1 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:	EUR 50,000 per Calculation Amount per Security
	(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:	N/A
34		Maximum and Minimum Redemption Requirements:	N/A
35	Annex:	Additional Disruption Events in addition to those specified in Condition 24 of the Base Conditions and any applicable Relevant	N/A
36		Share Linked Securities:	N/A
37		Index Linked Securities (Equity indices only):	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
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: XS0563098614
		Common Code: 056309861
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

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

(i)	Listing	London Stock Exchange
(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 1,750

$2^{\circ}$ RATINGS

Ratings:

The Securities have not been individually rated.

$\overline{3}$ NOTIFICATION

$N/A$

$6\phantom{a}$

$\overline{4}$ 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.

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

(i)	Reasons for the offer:	General funding
(ii)	Estimated net proceeds:	N/A
(iii)	Estimated total expenses:	N/A
FIXED RATE SECURITIES ONLY - YIELD
	Indication of yield:	N/A

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11 OFFER INFORMATION

$N/A$