Barclays PLC — Capital/Financing Update 2012

Feb 28, 2012

These Securities do not constitute collective investment schemes in the meaning of the Swiss Federal Act on Collective Investment Schemes ("CISA"). Accordingly, holders of the Securities do not benefit from protection under CISA or supervision by the Swiss Financial Market Supervisory Authority ("FINMA").

Final Terms BARCLAYS

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 1,750,000 Interest Rate Notes due February 2017 (the "Notes")

Series NX00070494

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 28 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.

Notice to Swiss Investors:

The Securities may not be publicly distributed in Switzerland. These Final Terms will not be dispatched, copied to or otherwise made available to, and the Securities may not be offered for sale to any person in Switzerland, except to Qualified Investors as defined in article 10 of CISA, i.e. to a) prudentially regulated financial intermediaries such as banks, securities dealers and fund management companies, b) regulated insurance institutions, c) public entities and retirement benefits institutions with professional treasury department, d) companies with professional treasury department, e) High-Net-Worth Individuals (as defined below) and f) investors who have concluded a written discretionary management agreement with a financial intermediary as defined under lit. a) or with an independent asset manager that complies with the requirements pursuant to Art. 6 para 2 of the Collective Investment Schemes Ordinance. A High-Net-Worth Individual is a private individual who confirms in writing at the time of the investment to own a minimum of Swiss Francs 2 million of financial investments, whether directly or indirectly.

This document is neither a prospectus according to Art 652a or Art 1156 of the Swiss Code of Obligations nor a simplified prospectus according to Art 5 of CISA.

The Securities do not constitute an investment in a collective investment scheme and are not subject to CISA nor to the supervision of FINMA.

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	Series:		NX00070494
2	Currency:		Euro ("EUR")
Notes: 3			Applicable
	(i)	Aggregate Nominal Amount as at the Issue Date:	EUR 1,750,000
		(ii) Specified Denomination:	EUR 50,000 and integral multiples of EUR 1,000 in excess thereof up to and including EUR 99,000. Notes will not be issued in definitive form with a Specified Denomination above EUR 99,000
		(iii) Minimum Tradable Amount:	N/A
		(iv) Calculation Amount as at the Issue	EUR 1,000
		Date:	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 and dematerialised:	Global Bearer Securities: 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:	7 February 2012
7		Issue Date:	28 February 2012
8	Redemption Date:		28 February 2017
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
		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:	(a) If the 3 month EUR-EURIBOR-Reuters as displayed

		on Reuters Screen EURIBOR01 page is equal to or less than 1.50 per cent. then the Interest Rate will be the Floating Rate plus the Margin.
		(b) Otherwise the Interest Rate will be the Fixed Rate.
	Fixed Rate: (i)	5 per cent. per annum
	(ii) Floating Rate:	ISDA Determination
	(iii) Variable Rate:	N/A
	(iv) Zero Coupon:	N/A
	(v) Bond Linked Securities - Fixed Coupon:	N/A
	(vi) Bond Linked Securities - Pass Through Interest:	N/A
15	Screen Rate Determination:	N/A
16	ISDA Determination:	Applicable
	(i) Floating Rate Option:	EUR-EURIBOR-Reuters
	Designated Maturity: (ii)	3 months
	Reset Date: (iii)	The first day of each Interest Calculation Period
17	Margin:	With respect to the Floating Rate only, plus 1.00 per cent. per annum
18	Minimum/Maximum Interest Rate:	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
	(i) Interest Period End Dates:	Each Interest Payment Date without adjustment in accordance with the Business Day Convention
	(ii) Interest calculation method for short or long Interest Calculation Periods:	N/A
22	Interest Payment Dates:	28 February, 28 May, 28 August and 28 November in each year from and including 28 May 2012 to and including the Redemption Date
23	Day Count Fraction:	30/360
24	Fallback provisions, rounding provisions, denominator and any other terms	N/A

relating to 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	Securities:	Terms relating to Cash Settled
	(i)	Final Cash Settlement Amount:	EUR 1,000 per Calculation Amount
		(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:	N/A
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:
	(i)	Affected Jurisdiction Hedging Disruption:	N/A
	(ii)	Affected Jurisdiction Increased Cost of Hedging:	N/A
	(iii)	Affected Jurisdiction:	N/A
	(iv)	Other Additional Disruption Events:	N/A
	(v)	The following shall not constitute Additional Disruption Events:	Hedging Disruption Increased Cost of Hedging
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 (b) 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 Registered Securities, Dutch Securities, Registered Securities, VPS Swedish 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.
		addition to those described in the Base In. Prospectus, no action has been taken or will be taken

by the Issuer that would permit a public offering of the Securities or possession or distribution of any offering material in relation to the Securities in any jurisdiction where action for that purpose is required. Each purchaser or distributor of the Securities represents and agrees that it will not purchase, offer, sell, re-sell or deliver the Securities or, have in its possession or distribute, the Base Prospectus, any other offering material or these Final Terms, in any jurisdiction except in compliance with the applicable laws and regulations of such jurisdiction and in a manner that will not impose any obligation on the Issuer or the Manager (as the case may be) and the Determination Agent.

50	Applicable TEFRA exemption:			N/A
	General
51	Business Day Convention:		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)	Notes:	Details relating to Instalment		N/A
55.	Relevant securities codes:			ISIN: XS0549973708
					Common Code: 054997370
56		Modifications Agreement:	the to Subscription Agreement and/or Agency	Master	N/A
57		Additional Securities:	Conditions modification to the Conditions of the	and/or	N/A

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 Market on or around the Issue Date.
(iii)	Estimate of total expenses related to admission to trading:	GBP 300

$\overline{2}$ Ratings

Ratings:

The Securities have not been individually rated.

Notification $\overline{3}$

$N/A$

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.

$5¹$ Reasons for the Offer, Estimated Net Proceeds and Total Expenses

(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

$N/A$

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

Details of historic EURIBOR rates can be obtained from Reuters Screen EURIBOR01 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	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 o
Names and addresses of additional Paying $A^{qents}(s)$ (if any):	N/A
Intended to be held in a manner which would	Yes
allow Eurosystem eligibility:	Note that the the Securities

of payment

designation "yes" simply means that s are intended upon issue to be deposited with 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 to be shared with a third party, which will be no more than 1.3 per cent. of the Issue Price. Further details of the commission element are available upon request.