Barclays PLC — Capital/Financing Update 2011

Mar 28, 2011

Final Terms dated 28 March 2011

BARCLAYS BANK PLC

Issue of €1,000,000,000 6.625 per cent. Fixed Rate Subordinated Notes due 2022 (the "Notes")

under the £60,000,000,000 Debt Issuance Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the base prospectus dated 15 June 2010 as supplemented by the supplements to the Base Prospectus dated 10 August 2010, 10 November 2010, 3 March 2011, 21 March 2011 and 22 March 2011 (the "Base Prospectus"), which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC), as amended (the "Prospectus Directive"). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such Base Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus is available for viewing at Barclays Treasury, 1 Churchill Place, London E14 5HP and The Bank of New York Mellon, One Canada Square, London E14 5AL and copies may be obtained from The Bank of New York Mellon, One Canada Square, London E14 5AL. Copies of the Base Prospectus and these Final Terms have been submitted to the London Stock Exchange by way of the Regulatory News Service.

	Issuer:		Barclays Bank PLC
2.	(i)	Series Number:	209
	(ii)	Tranche Number:
3.		Specified Currency or Currencies:	Euro (" $\epsilon$ ")
4.		Aggregate Nominal Amount:	€1,000,000,000
5.	Issue Price:		99.232 per cent. of the Aggregate Nominal Amount
6.	(a)	Specified Denominations:	$\epsilon$ 50,000 and integral multiples of $\epsilon$ 1,000 in excess thereof
	(b)	Calculation Amount:	€1,000
7.	(i)	Issue Date:	30 March 2011
	(ii)	Commencement Interest Date:	30 March 2011

8.		Maturity Date:	30 March 2022
9.		Interest Basis:	6.625 cent. Fixed Rate (further) per particulars specified below)
10.		Redemption/Payment Basis:	Redemption at par
11.	Change of Interest Redemption/Payment Basis:		or Not Applicable
12.		Put/Call Options:	Not Applicable
13.	(i)	Status of the Notes:	Dated Capital Notes, Lower Tier 2
	(ii)	Condition $4(4)$ — Deferral of Not Applicable payments to apply (Dated Capital Notes):
	(iii)	Date approval for issuance of 28 March 2011 Notes obtained:
14.	Method of distribution:		Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.		Fixed Rate Note Provisions:	Applicable
	(i)	$Rate(s)$ of Interest:	6.625 per cent. per annum payable annually in arrear for the period from (and including) the Interest Commencement Date to (but excluding) the Maturity Date
	(ii)	Interest Payment Date(s):	30 March in each year, commencing on 30 March 2012 and ending on the Maturity Date
	(iii)	Fixed Coupon Amount(s):	$666.25$ per Calculation Amount
	(iv)	Broken Amount(s):	Not Applicable
	(v)	Day Count Fraction:	Actual/Actual (ICMA)
	(vi)	Interest Determination Dates:	30 March in each year
	(vii)	Other terms relating to the method of calculating interest for Fixed Rate Notes:	Not Applicable
16.		Floating Rate Note Provisions:	Not Applicable
17.		Zero Coupon Note Provisions:	Not Applicable

NEW

• 1. Index-Linked Note/other Not Applicable Interest variable-linked interest Note Provisions:
• 1. Dual Currency Note Provisions: Not Applicable

PROVISIONS RELATING TO REDEMPTION

• 20 Call Option: Not Applicable
• 1. Put Option: Not Applicable
• 1. Final Redemption Amount of each $\epsilon$ 1,000 per Calculation Amount Note:
• 1. Early Redemption Amount:

Early Redemption Amount(s) of $\epsilon$ 1,000 per Calculation Amount each Note payable on redemption for taxation reasons or on event of default or other early redemption and/or the method of calculating the same (if required or if different from that set out in the Conditions):

GENERAL PROVISIONS APPLICABLE TO THE NOTES:

1. Form of Notes: Registered Notes:

Unrestricted Global Registered Note Certificate registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg

New Global Note Form: 25.

Not Applicable

• 1. Additional Financial Centre(s) or Not Applicable other special provisions relating to payment dates:
• 1. Talons for future Coupons or No Receipts to be attached to Definitive Notes (and dates on which such Talons mature):
• 28 Details relating to Partly Paid Not Applicable Notes: amount of each payment comprising the Issue Price and date on which each payment is to be made and consequences (if any) of failure to pay, including any right of the Issuer to forfeit the Notes and

interest due on late payment:

1. Details relating to Instalment Notes: Not Applicable amount of each instalment, date on which each payment is to be made:

names

$\alpha$ f

1. Other final terms: Not Applicable

DISTRIBUTION

$(i)$

$31.$

If syndicated, Managers:

Lead Manager

Barclays Bank PLC

Senior Co-Lead Manager

Banca IMI S.p.A.

Co-Lead Managers

Banco Santander, S.A. BNP Paribas Caja de Ahorros y Monte de Piedad de Madrid Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. Commerzbank Aktiengesellschaft Danske Bank A/S Erste Group Bank AG ING Belgium SA/NV Natixis Swedbank AB (publ) Wells Fargo Securities International Limited

• $(ii)$ Date of Syndication 28 March 2011 Agreement:
• Manager(s) (if $(iii)$ Stabilising any):
• 1. If non-syndicated, name of Dealer: Not Applicable
• 1. Rule 144A eligible (Registered Notes No only):

• U.S. Selling Restrictions: Reg. S Compliance Category 2; TEFRA Not Applicable

• Non-exempt Offer: Not Applicable

Barclays Bank PLC

1. Additional selling restrictions:

PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required for issue and admission to trading on the London Stock Exchange's regulated market of the Notes described herein pursuant to the £60,000,000,000 Debt Issuance Programme of Barclays PLC and Barclays Bank PLC.

RESPONSIBILITY

The Issuer accepts responsibility for the information contained in these Final Terms.

Signed on behalf of the Issuer:

By: Duly authorised

1. LISTING Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to the Official List of the UK Listing Authority and admitted to trading on the regulated market of the London Stock Exchange with effect from on or around 30 March 2011

$\overline{2}$ . RATINGS

Ratings:

The Notes are expected to be rated:

$S\&P$ : $\overline{A}$ Moody's: Baa1

Fitch $A+$

The above rating agencies are established in the European Union and have applied for registration under Regulation (EU) No 1060/2009 (the "CRA Regulation"). although notification of the corresponding registration decision has not yet been provided by the relevant competent authority.

In general, European regulated investors are restricted from using a rating for regulatory purposes if such rating is not issued by a credit rating agency established in the European Union and registered under the CRA Regulation unless the rating is provided by a credit rating agency operating in the European Union before 7 June 2010 which has submitted an application for registration in accordance with the CRA Regulation and such registration is not refused

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE 3. ISSUE/OFFER

Save as discussed in "Plan of Distribution", so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND $\overline{4}$ . TOTAL EXPENSES

Reasons for the offer The net proceeds of the issue will be used for $(i)$ the development and expansion of the business of the Group and to strengthen further the capital base of the Issuer and/or the Group. €987,820,000 $(ii)$ Estimated net proceeds:

UK-2711423-v5

5.

OPERATIONAL INFORMATION

ISIN Code: XS0611398008

Common Code: 061139800

Intended to be held in a manner Not Applicable which would allow Eurosystem eligibility:

Any clearing system(s) other Not Applicable than Euroclear Bank S.A./N.V. and Clearstream Banking Société anonyme and the relevant identification number(s):

Delivery:

Delivery against payment

Names and addresses of Not Applicable additional Paying Agent(s) $(i f)$ any):