Barclays PLC — Capital/Financing Update 2012

Feb 3, 2012

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 3,000,000 Index Linked Notes due February 2014 (the "Notes")

Series NX00067700

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 3 February 2012

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 Disclaimer

The EURO STOXX 50® and the trademarks used in the index name are the intellectual property of STOXX Limited, Zurich, Switzerland and/or its licensors. The index is used under license from STOXX. The Securities based on the index are in no way sponsored, endorsed, sold or promoted by STOXX and/or its licensors and neither STOXX nor its licensors shall have any liability with respect thereto.

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:	N/A
Italian Securities Agent:	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"). 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" IN THE BASE PROSPECTUS.

Provisions relating to the Securities

1	(i) Series:	NX00067700
	Tranche: (ii)	1
2	Currency:	Euro ("EUR") (the "Issue Currency")
3	Notes:	Applicable
	Aggregate Nominal Amount as at the (i) Issue Date:	EUR 3,000,000
	Specified Denomination: (ii)	EUR 1,000
	(iii) Minimum Tradable Amount:	EUR 50,000 and (EUR 1,000 thereafter)
	(iv) Calculation Amount as at the Issue Date:	Specified Denomination
		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:
	Global/Definitive/Uncertificated and (i)	Global Bearer Securities:
	dematerialised:	Permanent Global Security
	(ii) NGN Form:	Applicable
	(iii) Held under the NSS:	N/A
	(iv) CGN Form:	N/A
	$(v)$ CDIs:	N/A
6	Trade Date:	17 January 2012
7	Issue Date:	3 February 2012
8
	Redemption Date:	The fifth Business Day immediately following the Final Valuation Date scheduled to be 10 February 2014 (the "Scheduled Redemption Date")
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:	Equity Linked Annex
	Provisions relating to interest (if any) payable on the Securities
12	Interest:	Applicable

Conditions

14 Interest Rate:

• $(i)$ Fixed Rate:
• $(ii)$ Floating Rate:
• $(iii)$ Variable Rate:

$N/A$

$N/A$

Provided that a Specified Early Redemption Event has not occurred prior to the Interest Valuation Date in respect of the relevant Interest Payment Date, the Securityholder shall receive an amount determined by the Determination Agent in accordance with the following:

(i) If the Valuation Price of each Reference Asset on the relevant Interest Valuation Date is at or above its Interest Barrier:

2.50% x Calculation Amount

(ii) otherwise, zero.

Where:

"Interest Barrier" means 75% of the Initial Price of the Reference Asset.

"Initial Price" means the price of the Reference Asset at the Valuation Time on the Initial Valuation Date.

"Initial Valuation Date" means the Issue Date.

"Interest Valuation Date" means 3 May 2012, 3 August 2012, 5 November 2012, 4 February 2013, 3 May 2013, 5 August 2013, 4 November 2013 and 3 February 2014.

"Valuation Price" means in respect of a Valuation Date and any relevant Scheduled Trading Day, the price of the Reference Asset at the Valuation Time on such day, as determined by the Determination Agent.

"Valuation Time" has the meaning set out in Paragraph 37.

(iv)	Zero Coupon:
(V)	Bond Linked Securities - Fixed
Coupon:
(vi)	Bond Linked Securities - Pass
Through Interest:

15 Screen Rate Determination:

$N/A$ $N/A$

$N/A$ $N/A$

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

The day which is 5 Business Days following the relevant Interest Valuation Date, scheduled to be the following: 11 May 2012, 10 August 2012, 12 November 2012, 11 February 2013, 13 May 2013, 12 August 2013 and 11 November 2013 and 10 February 2014.

23 Day Count Fraction:

22 Interest Payment Dates:

• $N/A$ $N/A$
• 24 Fallback 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:

• 26 Settlement Currency:
• 27 Settlement Number:
• 28 Terms relating to Cash Settled Securities:
• (i) Final Cash Settlement Amount:

For the purposes of Condition 5.1 of the $(i)$ Base Conditions:

Cash Settlement

For the purposes of Condition 5.5 of the $(ii)$ Base Conditions: Cash Settlement

EUR

As defined in Condition 24 of the Base Conditions

In respect of each Calculation Amount, an amount determined by the Determination Agent as follows:

• (a) If the Valuation Price on the Final Valuation Date is at or above the Knockin Barrier Price, a cash amount equal to the Calculation Amount.
• (b) Otherwise, a cash amount equal to the

		Calculation Amount multiplied by the Valuation Price on the Final Valuation Date and divided by the Strike Price.
		Where:
		"Knock-in Barrier Price" means 70% of the Initial Price and displayed to 4 d.p.
		"Final Valuation Date" means 3 February 2014.
		"Strike Price" means 100 % of the Initial Price and displayed to 4 d.p.
		"Valuation Date" and "Valuation Time" have the meaning set out in Paragraph 37.
	(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	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:	Applicable
		If the Valuation Price of the Reference Asset on any Autocall Valuation Date is at or above the Autocall Barrier, the Issuer shall notify the Securityholder upon the occurrence of such event and shall redeem all of the Securities (in whole only) early at the Specified Early Cash Settlement Amount on the Specified Early Cash Redemption Date.
		"Autocall Barrier" means 100% of the Initial Price and displayed to 4 d.p
		"Autocall Valuation Date" means 3 May 2012, 3 August 2012, 5 November 2012, 4 February 2013, 3 May 2013, 5 August 2013 and 4 November 2013.
	(i) Automatic Early Redemption:	Applicable
	Cash Settled Securities: (ii)	Applicable
	(a) Specified Early Cash Settlement Amount:	100% x Calculation Amount

		(b) Specified Early Cash Redemption Date(s):		The fifth Business Day following the relevant Autocall Valuation Date
	(iii)	Physically Delivered Securities:	N/A
	(iv) Period:	Specified Early Redemption Notice	5 Business Days
34	Requirements:	Maximum and Minimum Redemption	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):	Applicable
	(i)	Index/Indices (each "Reference a Asset"):		Single Index: Euro Stoxx 50 Index (the "Index"), as calculated and sponsored by STOXX Ltd. (the "Index Sponsor") (Reuters code: .STOXX50E)
	(ii)	Future Price Valuation:	N/A
		(iii) Exchange-traded Contract:	N/A
		Exchange:		Multi-exchange Index
	(iv)	Related Exchanges:	All Exchanges
	(v)		N/A
		(vi) Exchange Rate:
	Assets:	(vii) Weighting for each Reference Asset comprising the Basket of Reference	N/A
		(viii) Index Level of each Reference Asset:	N/A
		(ix) Valuation Date:	(i)	Initial Valuation Date;
			(ii)	Each Interest Valuation Date;
			(iii)	Each Autocall Valuation Date; and
			(iv)	Final Valuation Date
	(x)	Valuation Time:		As per the Equity Linked Annex
	(xi)	Averaging:	N/A
		(xii) Additional Disruption Event in respect of Index Linked Securities:	N/A
		(xiii) FX Disruption Event:	N/A
		(xiv) 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	(a) Barclays Capital Commodity Index Linked Securities (Section 2 of the Barclays Capital Index Annex):	N/A
	(b) Barclays Capital Equity Index Securities (Section 3 of the Barclays Capital Index Annex):	N/A
	(c) Barclays Capital FX Index Linked Securities (Section 4 of the Barclays Capital Index Annex):	N/A
	(d) Barclays Capital Interest Rate Index Linked Securities (Section 5 of the Barclays Capital Index Annex):	N/A
	(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 Securities, Dutch Securities, Registered Swedish Registered Securities, VPS Registered Securities or Spanish Securities:	N/A
46	Additional provisions relating to Taxes and N/A 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 set out 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 Notes:	N/A
55.		Relevant securities codes:	ISIN: XS0549898061
			Common Code: 054989806
56		Modifications to the Master Subscription Agreement and/or Agency Agreement:	N/A

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

Listing and Admission to Trading $\mathbf{1}$

(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 Marketon or around the Issue Date.
(iii)	Estimate of total expenses related to admission to trading:	N/A

$\overline{2}$ Ratings

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: $N/A$

6 Fixed Rate Securities Only - Yield

$N/A$

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

$N/A$

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 Rates of Exchange and Explanation of Effect on Value of Investment 9

$N/A$

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
Names and addresses of additional Paying Agents $(s)$ (if any):	N/A
Intended to be held in a manner which would	Yes
allow Eurosystem eligibility:	Note that the designation
	the Securities are inte
	deposited with one of

e designation "yes" simply means that es are intended upon issue to be vith one of the International Central Securities Depositaries ("ICSDs") as common safekeeper and does not necessarily mean that the Securities will be recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem, either upon issue or at any or all times during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

11 Offer Information

The Issue Price includes a commission element shared with a third party, which will be no more than 2.50% of the Issue Price. Further details of the commission element are available upon request.