Barclays PLC — Capital/Financing Update 2011

Dec 23, 2011

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 5,350,000 Interest Rate Linked Notes due December 2014 (the "Notes")

Series NX00064131

under the Global Structured Securities Programme

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 Directive 2003/71/EC (the "Prospectus Directive") 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 5 August 2011, as supplemented and amended from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Prospectus Directive. 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 23 December 2011

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 5 August 2011.

Parties
Issuer:	Barclays Bank PLC
Guarantor:	N/A
Managers:	Barclays Bank PLC
Determination Agent:	Barclays Bank PLC
Issue and Paying Agent:	The Bank of New York Mellon
Stabilising Manager:	N/A
Registrar:	The Bank of New York Mellon (Luxembourg branch)
Italian Securities Agent:	N/A
CREST Agent:	N/A
Paying Agents:	N/A
Transfer Agent:	The Bank of New York Mellon (Luxembourg branch)
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"). 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 SUPPLEMENTAL PROSPECTUSES, SEE "PURCHASE AND SALE" AND "CLEARANCE, SETTLEMENT AND TRANSFER RESTRICTIONS -TRANSFER RESTRICTIONS FOR REGISTERED SECURITIES" IN THE BASE PROSPECTUS.

EACH PURCHASER OF REGISTERED SECURITIES WILL BE DEEMED, BY ITS ACCEPTANCE OF PURCHASE OF ANY SUCH REGISTERED SECURITIES, TO HAVE MADE CERTAIN REPRESENTATIONS AND AGREEMENTS INTENDED TO RESTRICT THE RESALE OR OTHER TRANSFER OF SUCH REGISTERED SECURITIES AS SET OUT IN "CLEARANCE, SETTLEMENT AND TRANSFER RESTRICTIONS - TRANSFER RESTRICTIONS FOR REGISTERED SECURITIES"

THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE US SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION IN THE UNITED STATES OR ANY OTHER US REGULATORY AUTHORITY, AND NONE OF THE FOREGOING AUTHORITIES HAS PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OF SECURITIES OR THE ACCURACY OR THE ADEQUACY OF THESE FINAL TERMS OR THE BASE PROSPECTUS OR THE SUPPLEMENTAL PROSPECTUSES. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

Provisions relating to the Securities

1	Series:		NX00064131
2		Currency:	United States dollar ("USD")
3	Notes:		Applicable
	(i)	Aggregate Nominal Amount as at the Issue Date:	USD 5,350,000
		(ii) Specified Denomination:	USD 150,000 and integral multiples of USD 1,000 in excess thereof up to and including USD 299,000. Notes will not be issued in definitive form with a Specified Denomination above USD 299,000.
		(iii) Minimum Tradable Amount:	N/A
		(iv) Calculation Amount per Security as at the Issue Date:	USD 1,000
			For the purposes hereof, all references in the Conditions to "Calculation Amount per Security" shall be construed as references to "Calculation Amount" as defined in these Final Terms.
4		Certificates:	N/A
5	Form:
	(i)	Global/Definitive/Uncertificated	Global Registered Securities:
		and dematerialised:	Global Regulation S Security
		(ii) NGN Form:	N/A
		(iii) Held under the NSS:	N/A
		(iv) CGN Form:	N/A
		$(v)$ CDIs:	N/A
6		Trade Date:	14 December 2011
7		Issue Date:	23 December 2011
8		Redemption Date:	December 2014, subject to adjustment in 23 accordance with the Business Day Convention
9		Issue Price:	100 per cent. of the Aggregate Nominal Amount
10		Relevant Stock Exchange:	London Stock Exchange
11		The following Relevant Annex(es) shall apply to the Securities:	N/A
			islang valating to interest (if any) noughla an the Coquities

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:

	Fixed Rate: (i)	N/A
	Floating Rate: (ii)	Screen Rate Determination
	(iii) Variable Rate:	N/A
	(iv) Zero Coupon:	N/A
	Bond Linked Securities - Fixed (V) Coupon:	N/A
	(vi) Bond Linked Securities - Pass Through Interest:	N/A
15	Screen Rate Determination:	Applicable
	Reference Rate: (i)	3 month USD LIBOR
	(ii) Relevant Screen Page::	Reuters Screen LIBOR01 Page
16	ISDA Determination:	N/A
17	Margin:	Plus 1.50 per cent.
18	Minimum/Maximum Interest Rate:	Applicable
	Minimum Interest Rate (i)	3.15 per cent. per annum
	Maximum Interest Rate (ii)	N/A
19	Interest Commencement Date:	Issue Date
20	Interest Determination Date:	As per Conditions 4 and 24 of the Base Conditions
21	Interest Calculation Periods:	As defined in Condition 24 of the Base Conditions
	Interest Period End Dates: (i)	Each Interest Payment Date, without any adjustment in accordance with the Business Day Convention
	Interest calculation method for (ii) short or long Interest Calculation Periods:	N/A
22	Interest Payment Dates:	23 March, 23 June, 23 September and 23 December in each year from and including 23 March 2012 to and including the Redemption Date, in each case subject to adjustment in accordance with the Business Day Convention.
23	Day Count Fraction:	30/360
24	Fallback provisions, rounding provisions, denominator and any other terms relating to the method of calculating interest, if different from those set out in	N/A

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:	USD
27	Settlement Number:	As defined in Condition 24 of the Base Conditions
28	Terms relating to Cash Settled Securities:
	Final Cash Settlement Amount: (i)	USD 1,000 per Calculation Amount
	Early Cash Settlement Amount: (ii)	As defined in Condition 24 of the Base Conditions
	(iii) Early Cash Redemption Date:	As defined in Condition 24 of the Base Conditions
29	Terms relating to Physically Delivered Securities:	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	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	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	(a) Barclays Capital Commodity Index Linked Securities (Section 2 of the Barclays Capital Index Annex):	N/A
	Barclays Capital Equity Index (b) Securities (Section 3 of the Barclays	N/A

Capital Index Annex):

		(c) Barclays Capital FX Index Linked Securities (Section 4 of the Barclays Capital Index Annex):	N/A
		(d) Barclays Capital Interest Rate Index N/A Linked Securities (Section 5 of the Barclays Capital Index Annex):
		(e) Barclays Capital Emerging Market Index Linked Securities (Section 6 of the Barclays Capital Index Annex):	N/A
43		Bond Linked Securities:	N/A
44		Fund Linked Securities:	N/A
		Provisions relating to Settlement
45		Settlement in respect of VP Notes, APK Registered Securities, Dutch Securities, Swedish Registered Securities, VPS Registered Securities Spanish or Securities:	N/A
46		Additional provisions relating to Taxes N/A and Settlement Expenses:
	Definitions
47		Business Day:	As defined in Condition 24 of the Base Conditions
48		Additional Business Centre(s):	N/A
		Selling restrictions and provisions relating to certification
49		Non-US Selling Restrictions:	As described in the Base Prospectus
50		Applicable TEFRA exemption:	N/A
General
51		Business Day Convention:	Modified Following
52		Relevant Clearing Systems:	Euroclear
			Clearstream
53		If syndicated, names of Managers:	N/A
54	(a)	Details relating to Partly Paid Securities:	N/A
	(b)	Details relating to Instalment	N/A
		Notes:
55.		Relevant securities codes:	ISIN: XS0548488898

• 56 Modifications to the Master N/A Subscription Agreement and/or Agency Agreement:
• 57 Additional Conditions $and/or$ modification to the Conditions of the Securities:

For the purposes hereof. Condition 9.7 of the Base Conditions shall be modified so that if the due date for any payment in respect of any Security or Coupon is not a Payment Day, then payment will not be made until the next succeeding Payment Day in the relevant place unless it would thereby fall into the next calendar month, in which event such date shall be brought forward to the immediately preceding Payment Date, and the holder thereof shall not be entitled to any further payment in respect of any such delay.

Part B Other Information

(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:	N/A
Ratings

$2^{\circ}$ Ratings

$\mathbf{1}$

Ratings:

The Securities have not been individually rated.

$\overline{3}$ Notification

$N/A$

Interests of Natural and Legal Persons involved in the Issue $\overline{4}$

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 5

• (i) Reasons for the offer: General funding
• (ii) Estimated net proceeds: $N/A$
• (iii) Estimated total expenses: $N/A$

Fixed Rate Securities Only - Yield 6

Listing and Admission to Trading

$N/A$

$\overline{7}$ Floating Rate Securities Only - Historic Interest Rates

The historic details for 3 month USD LIBOR can be obtained from Reuters Screen LIBOR01 Page.

Performance of Reference Asset(s) or Other Variable, Explanation of Effect on Value of 8 Investment and Associated Risks and Other Information Concerning the Reference Asset(s) and/or Other Underlying

$N/A$

Performance of Rate of Exchange and Explanation of Effect on Value of Investment $9$

$N/A$

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 number(s):	N/A
Delivery:	Delivery free of payment
Names and addresses of additional Paying Agents(s) (if any):	N/A
Intended to be held in a manner which would allow Eurosystem eligibility:	No

11 Offer Information

The Issue Price includes a commission element to be shared with a third party, which will be no more than 1.50 per cent. of the Issue Price. Further details of the commission element are available upon request.