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Barclays PLC Capital/Financing Update 2012

Mar 7, 2012

5250_rns_2012-03-07_55c04d82-d921-4839-9118-0faeb8ce6a93.pdf

Capital/Financing Update

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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

GBP 5,000,000 Warrant Linked Notes due March 2018 (the "Notes")

Series NX00064254

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 7 March 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.

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
Manager: Barclays Bank PLC
Determination Agent: Barclays Bank PLC
Issue and Paying Agent: The Bank of New York Mellon
Stabilising Manager: N/A
Italian Securities Agent 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"). 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 TERM, THE BASE PROSPECTUS AND THE SUPPLEMENTAL PROSPECTUS, SEE "PURCHASE AND SALE" IN THE BASE PROSPECTUS.

Provisions relating to the Securities

$\mathbf{1}$ Series: NX00064254
2 Currency: Pound Sterling ("GBP")
3 Notes: Applicable
(i) Aggregate Nominal Amount as
at the Issue Date:
GBP 5,000,000
(ii) Specified Denomination: GBP 1.00
(iii) Minimum Tradable Amount: N/A
(iv) Calculation Amount per Security
as at the Issue Date:
Specified Denomination
4 Certificates: N/A
5 Form:
(i) Global/Definitive/Uncertificated
and dematerialised:
Global Bearer Securities:
Permanent Global Security
(ii) NGN Form: N/A
(iii) Held under the NSS: N/A
(iv) CGN Form: Applicable
(v) CDI s : N/A
6 Trade Date: 15 December 2011
7 Issue Date: 7 March 2012
8 Redemption Date: The later of:
(i) 7 March 2018; and
(ii) 5 Business Days immediately following the
Valuation 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:
Warrant Linked Securities Annex
Provisions relating to interest (if any) payable on the Securities
12 Interest: N/A
13 Interest Amount: N/A
14 Interest Rate: N/A
15 Screen Rate Determination: 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
22 Interest Payment Dates: N/A
23 Day Count Fraction: 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:
N/A
Provisions relating to Redemption
25 Settlement Method: For the purposes of Conditions 5.1 and 5.4 of the
Base Conditions:
Cash Settlement
26 Settlement Currency: GBP
27 Settlement Number: As defined in Condition 24 of the
Base
Conditions
28 Securities: Terms relating to Cash Settled
(i) Final Cash Settlement Amount: As defined in the Warrant Linked Securities
Annex
(ii) Early Cash Settlement Amount: As defined in the Warrant Linked Securities
Annex
(iii) Early Cash Redemption Date: N/A
(iv) Early Cash Settlement Date: As defined in the Warrant Linked Securities
Annex
(v) Early Cash Settlement Valuation
Date:
As defined in the Warrant Linked Securities
Annex
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 Additional Disruption Events in addition
to those specified in Condition 24 of the
N/A
Base Conditions and any applicable
Relevant Annex:
36 Warrant Linked Securities Applicable
(i) Underlying Warrant: Warrant linked to the FTSE 100 Index and the
S&P 500 Index issued by Barclays Bank PLC (ISIN:
GB00B74Y6J72 Series number: NX00064256)
(ii) Initial Valuation Date: The Issue Date for the first tranche of the Notes
(iii) Valuation Date: 28 February 2018
(iv) Valuation Time: As defined in the Warrant Linked Securities
Annex
Items 37-44 N/A
Provisions relating to Settlement
45 Settlement in respect of VP Notes, APK
Registered Securities, Dutch Securities,
Swedish Registered Securities, VPS
Registered Securities or Spanish
Securities:
N/A
46 Additional provisions relating to Taxes
and Settlement Expenses:
N/A
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 and addresses of
Managers and underwriting
commitments:
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: XS0548491504

Common Code: 054849150

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

$N/A$

The definition of "Warrant Termination Date" in the Warrant Linked Securities Annex shall be replaced with the following:

"Warrant Termination Date" means, in respect of an Underlying Warrant, the date on which a Warrant Termination Event occurs.

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.

58 Provisions relating to redenomination: Applicable

Part B

Other Information

$\mathbf{1}$ Listing and Admission to Trading $(i)$ 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 $N/A$ to admission to trading: $\overline{2}$ Ratings Ratings: The Securities have not been individually rated. Notification $\overline{3}$ $N/A$

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

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.

5 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

Fixed Rate Securities Only - Yield 6

Indication of yield: N/A
---------------------- -----

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

$N/A$

Performance of the Underlying Warrant, Explanation of Effect on Value of Investment and 8 Associated Risks and Other Information Concerning the Underlying Warrant

The Securities relate to the Underlying Warrant. The Underlying Warrant is 1 warrant linked to the FTSE 100 Index and the S&P 500 Index and is issued by Barclays Bank PLC (ISIN: GB00B74Y6J72; Series number: NX00064256).

The price of the Underlying Warrant will be published on each Business Day on www.barxis.com.

The performance of the Underlying Warrant depends on the performance of the reference assets to which Underlying Warrant is linked (the "Underlying Warrant Reference Assets"). The Underlying Warrant Reference Assets are the FTSE 100 Index and the S&P 500 Index. Information on the Underlying Warrant Reference Assets (including past and future performance and volatility) is published on Reuters. Investors should review the terms and conditions of the Underlying Warrant and consult with their own professional advisers if they consider it necessary. The final terms relating to the Underlying Warrant are attached hereto as Annex 1.

The Issuer does not intend to provide post-issuance information.

$\mathbf{9}$ 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
allow Eurosystem eligibility:
N/A

10 Offer Information

Offer Price: Issue Price
The Issue Price includes a commission element
shared with a third party, which will be no more than
5 per cent. of the reference asset issue price. Further
details of the commission element are available upon
request.
Conditions to which the offer is subject: N/A
Description of the application process: An offer of the Securities may be made by the
Manager or the Distributor other than pursuant to
Article 3(2) of the Prospectus Directive in the United
Kingdom (the "Public Offer Jurisdiction") during the
period from and including 21 December 2011 to and
including 29 February 2012 (the "Offer Period").
Applications for the Securities can be made in the
Public Offer Jurisdiction through the Distributor in
the Public Offer Jurisdiction during the Offer Period.
The Securities will be placed into the Public Offer
Jurisdiction by the Distributor. Distribution will be in
accordance with the Distributor's usual procedures,
notified to investors by the Distributor.
Details of the minimum and/or maximum The minimum and maximum amount of application

amount of application:

Description of possibility reduce to subscriptions and manner for refunding excess amount paid by applicants:

Details of method and time limits for paying up and delivering the Securities:

Manner in and date on which results of the offer are to be made public:

Procedure for exercise of any right of preemption, negotiability of subscription rights and treatment of subscription rights not exercised:

Categories of prospective investors to which the Securities are offered and whether tranche(s) have been reserved for certain countries:

Process for notification to applicants of the amount allotted and indication whether dealing may begin before notification is made:

Amount of any expenses and taxes specifically charged to the subscriber or purchaser:

Name(s) and address(es), to the extent known to the Issuer, of the placers in the various countries where the offer takes place:

from the Distributor will be notified to investors by the Distributor.

Subscription orders may be reduced in case of oversubscription, excess amount of funds paid being reduced without delay with no entitlement for compensation.

Investors will be notified by the Distributor of their allocations of Securities and the settlement arrangements in respect thereof.

Not Applicable

Not Applicable

Offers may be made by the Manager or the Distributor in the Public Offer Jurisdiction to any person. Offers (if any) in other EEA countries will only be made by the Manager or the Distributor pursuant to an exemption from the obligation under the Prospectus Directive as implemented in such countries to publish a prospectus.

Each investor will be notified by the Distributor of its allocation of Securities at the time of such investor's application.

No dealings in the Securities may take place prior to the Issue Date.

Not Applicable

Walker Crips Stockbrokers Ltd (the "Distributor") Finsbury Tower 103-105 Bunhill Row London, EC1Y 8LZ United Kinadom

ANNEX 1 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

1 Index Linked Warrant due March 2018 (the "Warrant")

Series NX00064256

under the Global Structured Securities Programme

Issue Price: GBP 250,000 per Security

This document constitutes the final terms of the Warrant (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 7 March 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:

FTSE 100 Index

The Security is not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE") or by the London Stock Exchange Plc (the "Exchange") or by The Financial Times Limited ("FT") and neither FTSE nor the Exchange nor FT makes any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE 100 Index and/or the figure at which such index stands at any particular time on any particular day or otherwise. The FTSE 100 Index is compiled and calculated by FTSE. However, neither FTSE nor the Exchange nor FT shall be liable (whether in negligence or otherwise) to any person for any error in the FTSE 100 Index and neither FTSE or the Exchange or FT shall be under any obligation to advise any person of any error therein.

"FTSE®". "FT-SE®" and "Footsie®" are trade marks of the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited under licence. "All-World", "All-Share" and "All-Small" are trade marks of FTSE International Limited.

S&P 500 Index

The Securities are not sponsored, endorsed, sold or promoted by Standard & Poor's Financial Services LLC ("S&P") or its third party licensors. Neither S&P nor its third party licensors makes any representation or warranty, express or implied, to the owners of the Securities or any member of the public regarding the advisability of investing in securities generally or in the Securities particularly or the ability of the S&P 500 INDEX (the "Index") to track general stock market performance. S&P's and its third party licensor's only relationship to Barclays Bank PLC is the licensing of certain trademarks and trade names of S&P and the third party licensors and of the Index which is determined, composed and calculated by S&P or its third party licensors without regard to Barclays Bank PLC or the Securities. S&P and its third party licensors have no obligation to take the needs of Barclays Bank PLC or the owners of the Securities into consideration in determining, composing or calculating the Index. Neither S&P nor its third party licensors is responsible for and has not participated in the determination of the prices and amount of the Securities or the timing of the issuance or sale of the Securities or in the determination or calculation of the equation by which the Securities are to be converted into cash. S&P has no obligation or liability in connection with the administration, marketing or trading of the Securities.

NEITHER S&P, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY. TIMELINESS OR COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P. ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBIECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. S&P MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND 4! ;4 ? / ( 5. ( . . ;;. -(4 C 9 4;5@ . -. ((-? C ; 9(- 4 9C ; . . ;-(5=. ; =;C 4 C ; = 4 (-@ ;4 45- -C -@ 4 . ;G -@ 4 ( / 4! C ; . ? / .-. ( 5= / 4/ -@ 4;4( + (-@ C =- ( (-( . ? C 9 -@ 4 9C ;4 C ( ( C 4B 4 - @ .- C 4B 4; @ . D (- . 99((.-4 C ; -@ 4(; -@ (;/ . ;-? (54 C ; 4 (. 4 9C ; . ? ( / (;45- 45(. ( 5(/ 4 -. = (-(B 4 C ; 5C 4L =4 -(. / . . 4 ( 5= / ( =- C - ( (-4/ -C C C 9 ;C 9(- -;. / ( C 4 C - -( 4 C ; C C / ( 4B 4 (9 -@ 4? @ .B 4 44 . / B ( 4/ C 9 -@ 4 C (((-? C 9 =5@ / . . 4 @ 4-@ 4; ( 5C -;. 5- -C ;- -;(5- (. ((-? C ; C -@ 4; ( 4+

D HK ? D K ' , D H 9? \$ 0 5 0 %? \$? , %7 \$ 7 ? 5+

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
Manager: 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) S.A.
CREST Agent: N/A
Italian Securities Agent: N/A
Paying Agents: N/A
Transfer Agent: The Bank of New York Mellon (Luxembourg) S.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 PROSPECTUS. SEE "PURCHASE AND SALE" 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" IN THE BASE PROSPECTUS.

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 PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

Provisions relating to the Securities

1 (i) Series: NX00064256
(ii) Tranche: 1
2 Currency: Pound Sterling ("GBP")
3 Number of Warrants or Exercisable
Certificates being issued:
1
4 (vi) Minimum Tradable Amount: N/A
(vii) Calculation Amount per Security as at
the Issue Date:
GBP 250,000
5 Form:
(viii) Global/Definitive/Uncertificated
and
dematerialised:
Global Registered Securities:
Regulation S Global Security
(ix) NGN Form: N/A
(x) Held under the NSS: N/A
(xi) CGN Form: Applicable
(xii)
CDI s :
N/A
6 Trade Date: 15 December 2011
7 Issue Date: 7 March 2012
8 Issue Price: GBP 250,000 per Security
9 Relevant Stock Exchange: London Stock Exchange
10 to the Securities: The following Relevant Annex(es) shall apply Equity Linked Annex
Provisions relating to interest (if any) payable on the Securities
11 Interest: N/A
12 Interest Amount: N/A
13 Interest Rate: N/A
14 Screen Rate Determination: N/A
15 ISDA Determination: N/A
16 Margin: N/A
17 Minimum/Maximum Interest Rate: N/A
18 Interest Commencement Date: N/A
19 Interest Determination Date: N/A
20 Interest Calculation Periods: N/A
21 Interest Payment Dates: N/A
22 Day Count Fraction: N/A
23. 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:
N/A
Provisions relating to Exercise
24 (xiii) Exercise Style: European Style
Multiple Exercise Securities:
(xiv)
N/A
25 Call/Put Securities: N/A
26 Units: The Securities must be exercised in Units. Each
Unit consists of 1 Security.
27 Exercise Price: GBP 0
28 Exercise Date(s): Expiration Date
29 Exercise Parameters: N/A
30 Potential Exercise Business Dates: N/A
31 Exercise Business Day: N/A
32 Exercise Period: N/A
33 Expiration Date: The Final Valuation Date
34 Automatic Exercise: Applicable
35 Minimum Number Exercise Requirement: The Minimum Number is 1 Security
36 Maximum Daily Number: N/A
37 Nominal Call Event: N/A
Provisions relating to Redemption
38 Settlement Method: Cash Settlement
39 Settlement Currency: GBP
40 Settlement Number: As defined in Condition 24 of the Base
Conditions
41 Terms relating to Cash Settled Securities:
(xv) Exercise Cash Settlement Amount: (a) If the Final Price of the Worst Performing
Basket Constituent is greater than or equal to the
Barrier Price for that Basket Constituent, the
Exercise Cash Settlement Amount will be an
amount determined by the Determination Agent
as follows:
151.00% x Calculation Amount.
(b) If the Final Price of the Worst Performing

$17$

Basket Constituent is less than the Barrier Price

for that Basket Constituent, the Exercise Cash Settlement Amount will be an amount determined by the Determination Agent as follows:

Calculation Amount x (Final Price of the Worst Performing Basket Constituent / Strike Price of the Worst Performing Basket Constituent.

Where:

"Barrier Price" means, in respect of a Basket Constituent, 50% of the Initial Price of that Basket Constituent.

"Initial Price" or " $V_{(i)Initial}$ " means, in respect of a Basket Constituent, the Valuation Price of that Basket Constituent on the Initial Valuation Date.

"Initial Valuation Date" means 29 February 2012.

"Final Valuation Date" means 28 February 2018.

"Final Price" or " $V_{(i)Final}$ " means, in respect of a Basket Constituent, the Valuation Price of that Reference Asset on the Final Valuation Date.

"Strike Price" means in respect of a Basket Constituent, 100% of the Initial Price of that Basket Constituent.

"Valuation Price" means, in respect of a Basket Constituent, the price of that Basket Constituent at the Valuation Time on any relevant Scheduled Trading Day, as determined by the Determination Agent.

"Worst Performing Basket Constituent" means, the Basket Constituent with the lowest performance calculated as follows:

$V_{(i)Final}$

$V_{(i)$ Initial

provided that where more than one Basket Constituent has the same lowest performance, the Determination Agent shall in its sole discretion select which of the Basket

Constituents with the same lowest performance shall be the Worst Performing Basket Constituent.

  • (xvi) Exercise Cash Settlement Date:
  • $(a)$ 7 March 2018: and

The later of:

$(b)$ 5 Business Days immediately following the Expiration Date.

As defined in Condition 24 of the Base Conditions

Associated Costs: Applicable

As defined in Condition 24 of the Base Conditions

Applicable

The occurrence of any one of the following events shall constitute a Specified Early Cancellation Event:

(i) Issuer Early Cancellation Right: Delivery of a notice (the "Issuer Early Cancellation Notice") by the Issuer to Securityholders on the Issue Date notifying the Securityholders of the early cancellation of the Securities. Upon delivery of the Issuer Early Cancellation Notice, a Specified Early Cancellation Event shall be deemed to have occurred in respect of all Securities and the Issuer will redeem all of the Securities (in whole only) at the Specified Early Cash Settlement Amount on the Specified Early Cash Cancellation Date.

(ii) Securityholder Early Cancellation Right: Delivery of a notice (the "Securityholder Early Cancellation Notice") by any Securityholder to the Issuer on the Issue Date requesting early cancellation by the Issuer of each relevant Security specified in the Securityholder Early Cancellation Notice. Upon delivery of the Securityholder Early Cancellation Notice, a Specified Early Cancellation Event shall be deemed to have occurred in respect of each relevant Security to which the Securityholder Early Cancellation Notice relates only and the Issuer will redeem such Securities in whole at the Specified Early Cash Settlement Amount on the

(xvii) Early Cash Settlement Amount:

(xviii) Early Cancellation Date:

42 Specified Early Cancellation Event:

Specified Early Cash Cancellation Date.

(iii) Autocall: If the Valuation Price of each Basket Constituent on any Autocall Valuation Date(i) is greater than or equal to its respective Autocall Price(i), a Specified Early Cancellation Event shall be deemed to have occurred in respect of all Securities. The Issuer shall notify Securityholders upon the occurrence of such event and shall redeem all of the Securities (in whole only) at the Specified Early Cash Settlement Amount on the Specified Early Cash Cancellation Date.

Where:

"Autocall Barrier(i)" means each percentage as set out in Schedule 2 under the heading "Autocall Barrier $_{(i)}$ ".

"Autocall Price(i)" means, in respect of an Autocall Valuation Date(i) and a Basket Constituent, the relevant Autocall Barrier(i) multiplied by the Initial Price of that Basket Constituent.

"Autocall Valuation Date(i)" means each date as set out in Schedule 2 under the heading Autocall Valuation Date(j).

Applicable, except that where the Specified Early Cancellation Event is as a result of the delivery of a Securityholder Early Cancellation Notice, a Specified Early Cancellation Event shall be deemed to have occurred in respect of each relevant Security to which the Securityholder Early Cancellation Notice relates only.

(xix) Automatic Early Cancellation:

  • $(xx)$ Cash Settled Securities:
  • $(a)$ Specified Early Cash Settlement Amount:

In respect of a Specified Early Cancellation Event occurring as a result of the delivery of an Issuer Early Cancellation Notice or Securityholder Early Cancellation Notice, the Specified Early Cash Settlement Amount shall be GBP 250,000 per Security.

In respect of a Specified Early Cancellation Event occurring on Autocall Valuation Date(i) and in respect of each Security, the Specified Early Cash Settlement Amount shall be calculated as the applicable Settlement Amount(i) x Calculation

Amount, where Settlement Amount (i) means
each amount as set out in Schedule 2 under the
heading Settlement Amount (i) .
(b) Specified Early Cash Cancellation
Date(s):
In respect of a Specified Early Cancellation Event
occurring as a result of the delivery of an Issuer
Early Cancellation Notice or a Securityholder
Early Cancellation Notice, in each case on the
Issue Date, the fifth Business Day immediately
following the Issue Date.
In respect of a Specified Early Cancellation Event
occurring on Autocall Valuation Date (i) , the fifth
Business Day immediately following the relevant
Autocall Valuation Date(i).
(xxi) Physically Delivered Securities: N/A
(xxii) Specified Early Cancellation Notice
Period:
N/A
43 Call Option: N/A
44 Early Exercise Trigger Event: N/A
45 Terms relating to Physically Delivered
Securities:
N/A
46 Multiplier: N/A
47 Additional Disruption Events in addition to
those specified in Condition 24 of the Base
Conditions and any applicable Relevant
Annex:
(xxiii) Affected
Jurisdiction
Hedging
Disruption:
N/A
(xxiv) Affected Jurisdiction Increased Cost of
Hedging:
N/A
(xxy) Affected Jurisdiction: N/A
(xxvi) Other Additional Disruption Events: Linked Instrument Early Redemption
Where:
A "Linked Instrument Early Redemption" shall
occur where any financial instrument issued by
the Issuer which references the Security as its
underlying reference asset (such instrument, a
"Linked
Instrument") is subject to
early

redemption as a result of the occurrence of an additional disruption event (as such term is

defined in the Linked Instrument's terms and
conditions).
(xxvii) The following shall not constitute
Additional Disruption Events:
N/A
48 Share Linked Securities: N/A
49 Index Linked Securities (Equity notices only): Applicable
(xxviii) Index/Indices (each a "Reference
Asset"):
A basket of indices (each a "Basket Constituent"
and collectively the "Basket") as specified in
Schedule 1. "), represent a notional investment in
such Index with a notional investment size of
GBP 1.00 per index point.
(xxix) Future Price Valuation: N/A
(xxx) Exchange-traded Contract: N/A
(xxxi) Exchange: As set out in Schedule 1
(xxxii) Related Exchange: As set out in Schedule 1
(xxxiii) Exchange Rate: N/A
(xxxiv) Weighting for each Reference Asset
comprising the Basket of Reference
Assets:
N/A
(xxxv) Index Level of each Reference Asset: Valuation Price
(xxxvi) Valuation Dates: Initial
Valuation
The
Date, each
Autocall
Valuation Date (i) and the Final Valuation Date
(xxxvii) Valuation Time: As defined in the Equity Linked Annex
(xxxviii) Averaging: N/A
(xxxix) Additional Disruption Event in respect
of Index Linked Securities:
N/A
(xI) FX Disruption Event: N/A
(x li ) Other adjustments: N/A
50 Inflation Linked Securities: N/A
51 FX Linked Securities: N/A
52 Credit Linked Securities: N/A
53 Commodity Linked Securities: N/A
54 Debt Components: N/A
55 Interest Rate Components: N/A
56 (a) Barclays Capital Commodity Index Linked
Securities (Section 2 of the Barclays Capital
Index Annex):
N/A
(b) Barclays Capital Equity Index Linked
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
57. Fund Linked Securities: N/A
Additional provisions relating to Settlement
58 Settlement in respect of APK Registered
Securities, Swedish Registered Securities or
other Securities:
N/A
59 Additional provisions relating to payment of
Exercise Price:
N/A
60 Additional provisions relating to Taxes and
Settlement Expenses:
N/A
Definitions
61 Definition of In-The-Money: in Condition 24 of the Base
As defined
Conditions
62 Business Days: in Condition 24 of the Base
As defined
Conditions
Additional Business Centre(s): N/A
Selling restrictions and provisions relating to certification
63 Non-US Selling Restrictions: As described in the Base Prospectus
64 Applicable TEFRA exemption: N/A
65 Other: N/A
General
66 Business Day Convention: Modified Following
67 Relevant Clearing Systems: Euroclear
Clearstream
68 If syndicated, names of Managers: N/A
69 Relevant securities codes: ISIN: GB00B74Y6J72
Common Code: 72483502
  • 70 Modifications to the Master Subscription Agreement and/or Master Agency Agreement (as amended from time to time):
  • 71 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

$N/A$

delay.

Part B Other Information

1 LISTING AND ADMISSION TO TRADING
(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 the Issue Date.
(iii) Estimate of total expenses related to
admission to trading:
GBP 300
2 RATINGS
Ratings: The Securities have not been individually rated.
3 NOTIFICATION
N/A
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 issue of the Securities has an interest material to the issue.

$57$ 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: $N/A$
  • $61$ FIXED RATE SECURITIES ONLY - YIELD
  • Indication of yield: $N/A$
  • FLOATING RATE SECURITIES ONLY HISTORIC INTEREST RATES $77$

$N/A$

8 PERFORMANCE OF REFERENCE ASSET(S) OR OTHER VARIABLE, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE REFERENCE ASSET(S) AND/OR OTHER UNDERLYING

Applicable

The performance of the Warrant depends on the performance of the FTSE 100 Index as calculated and sponsored by FTSE International Limited and the S&P 500 Index as calculated and sponsored by Standard and Poors. Financial Services LLC. Information on the FTSE 100 Index (including past and further performance and volatility) is published on Reuters page: .FTSE and information on S&P 500 Index (including past and further performance and volatility) is published on Reuters page: .SPX

Investors should note that historical performance should not be taken as an indication of future performance.

The Issuer does not intend to provide post-issuance information.

PERFORMANCE OF RATES OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF $\overline{9}$ INVESTMENT

$N/A$

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 which may be shared with a third party, which will be not exceed 5.00 per cent. of the Issue Price. Further details of the commission element are available upon request.

Schedule 1

The Basket

I Name Type Reuters Code
(for
identification
purposes only)
Index Sponsor Exchange Related
Exchange
Reference
Asset
Currency
FTSE
100
INDEX
Index .FTSE FTSE
International
Limited
London
Stock
Exchange
All
Exchanges
GBP
2 S&P
500
INDEX
Index .SPX Standard and
Poors
Multi-
exchange
All
Exchanges
USD
Autocall Valuation Autocall Settlement Amount (i)
Date $_{(i)}$ Barrier $(i)$
28 February 2013 100% 108.50%
2 28 February 2014 90% 117.00%
3 27 February 2015 80% 125.50%
4 29 February 2016 70% 134.00%
5 28 February 2017 60% 142.50%

Schedule 2