Barclays PLC — Capital/Financing Update 2012

Mar 23, 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

1 Index Linked Warrant due June 2017 (the "Warrant")

Series NX00073166

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.

Final Terms dated 23 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.

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

Provisions relating to the Securities

$\mathbf{1}$	(i)	Series:	NX00073166
	(ii)	Tranche:	1
2	Currency:		Pound Sterling ("GBP")
3		Number of Warrants or Exercisable Certificates being issued:	1
4	(i)	Minimum Tradable Amount:	N/A
	(ii)	Calculation Amount as at the Issue Date:	GBP 250,000 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.
5	Form:
	(i)	Global/Definitive/Uncertificated and dematerialised:	Global Registered Securities: Regulation S 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:		16 March 2012
7	Issue Date:		23 March 2012
8	Issue Price:		GBP 250,000 per Security
9		Relevant Stock Exchange:	London Stock Exchange
10		The following Relevant Annex(es) shall apply to the Securities:	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	Exercise Style: (i)	European Style
	Multiple Exercise Securities: (ii)	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:
	Exercise Cash Settlement Amount: (i)	(a) If a Trigger Event has not occurred, the Exercise Cash Settlement Amount will be an amount determined by the Determination Agent as follows:
		Calculation Amount x (100% + Leverage)

(b) If a Trigger Event has occurred and the Final Valuation Price is greater than or equal to the Strike Price, the Exercise Cash Settlement Amount will be an amount determined by the

Determination Agent as follows:

Calculation Amount x (100% + Leverage)

(c) If a Trigger Event has occurred and the Final Valuation Price is less than the Strike Price, the Exercise Cash Settlement Amount will be an amount determined by the Determination Agent as follows:

Calculation Amount x (100% + Leverage) x FVP/SP

Where:

"Barrier Price" means 60.00 per cent. of the Initial Price.

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

"Initial Valuation Date" means 28 May 2012.

"Final Valuation Date" means 30 May 2017.

"Final Valuation Price" or "FVP" means the Valuation Price on the Final Valuation Date.

"Leverage" means 38.50 per cent.

"Strike Price" or "SP" means 100.00 per cent. of the Initial Price.

"Trigger Event" shall be deemed to have occurred if the Valuation Price on any Scheduled Trading Day from (but excluding) the Initial Valuation Date to (and including) the Final Valuation Date, is less than or equal to the Barrier Price

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

Where:

Exercise Cash Settlement Date: $(ii)$

$(iii)$ Early Cash Settlement Amount:

Early Cancellation Date: $(iv)$

The later of:

• 6 June 2017; and $(a)$
• $(b)$ 5 Business Days immediately following the Final Valuation Date.

As defined in Condition 24 of the Base Conditions

Associated Costs: Applicable

As defined in Condition 24 of the Base

		42 Specified Early Cancellation Event:	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 Specified Early Cash Cancellation Date.
(i)		Automatic Early Cancellation:	Applicable, except that 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.
(ii)		Cash Settled Securities:
	(a)	Specified Early Cash Settlement	GBP 250,000 per Security.
		Amount:
(b)		Specified Early Cash Cancellation	The fifth Business Day immediately following the
	Date(s):		Issue Date.
(iii)		Physically Delivered Securities:	N/A

Conditions

	(iv)	Specified Early Cancellation Notice Period:	N/A
43	Call Option:		N/A
44		Early Exercise Trigger Event:	N/A
45	Securities:	Terms relating to Physically Delivered	N/A
46	Multiplier:		N/A
47	Annex:	Additional Disruption Events in addition to those specified in Condition 24 of the Base Conditions and any applicable Relevant
	(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:	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).
	(v)	The following shall not constitute Additional Disruption Events:	N/A
48		Share Linked Securities:	N/A
49		Index Linked Securities (Equity notices only):	Applicable
	(i)	Index/Indices (each a "Reference Asset"):	FTSE 100 Index (Reuters code: .FTSE) (the "Index"), provided that the Reference Asset represents a notional investment in such Index with a notional investment size of GBP 1.00 per index point.
	(ii)	Future Price Valuation:	N/A
	(iii)	Exchange-traded Contract:	N/A
	(iv)	Exchange:	London Stock Exchange
	(v)	Related Exchange:	All Exchanges

	(vi)	Exchange Rate:	N/A
	(vii)	Weighting for each Reference Asset comprising the Basket of Reference Assets:	N/A
	(viii)	Index Level of each Reference Asset:	Valuation Price
	(ix)	Valuation Dates:	The Initial Valuation Date and the Final Valuation Date
	(x)	Valuation Time:	As defined in 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
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	Annex):	(a) Barclays Commodity Index Linked Securities (Section 2 of the Barclays Index	N/A
		(b) Barclays Equity Index Linked Securities (Section 3 of the Barclays Index Annex):	N/A
		(c) Barclays FX Index Linked Securities (Section 4 of the Barclays Index Annex):	N/A
	Annex):	(d) Barclays Interest Rate Index Linked Securities (Section 5 of the Barclays Index	N/A
	Annex):	(e) Barclays Emerging Market Index Linked Securities (Section 6 of the Barclays Index	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:	Conditions		As defined in Condition 24 of the Base
62	Business Days:	Conditions		As defined in Condition 24 of the Base
	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:	Following
	67 Relevant Clearing Systems:	Euroclear
			Clearstream
	68 If syndicated, names of Managers:	N/A
69	Relevant securities codes:		ISIN: GB00B7CY1C75
				Common Code: 076248486
	70 Modifications to the Master Subscription	N/A

• 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:

All references to "Barclays Capital Commodity Index" in the Base Prospectus and in the Conditions shall be construed as references to "Barclays Commodity Index".

All references to "Barclays Capital Equity Index" in the Base Prospectus and in the Conditions shall be construed as references to "Barclays Equity Index".

All references to "Barclays Capital FX Index" in the Base Prospectus and in the Conditions shall be construed as references to "Barclays FX Index". All references to "Barclays Capital Interest Rate Index" in the Base Prospectus and in the Conditions shall be construed as references to "Barclays Interest Rate Index".

All references to "Barclays Capital Emerging Market Index" in the Base Prospectus and in the

Conditions shall be construed as references to "Barclays Emerging Market Index".

All references to "Barclays Capital Index Annex" in the Base Prospectus and in the Conditions shall be construed as references to "Barclays" Index Annex".

For the avoidance of doubt in relation to a delay or postponement of payments and settlement:

If the determination of a price or level used to calculate any amount payable or deliverable on any payment or settlement date is delayed or postponed pursuant to the terms and conditions of the Securities, payment or settlement will occur on the later of either (i) the scheduled payment or settlement date or (ii) the second Business Day following the date on which such price or level is determined. No additional amounts shall be payable or deliverable by the Issuer because of such postponement.

For the purposes hereof. Base Condition 9.7 shall be modified as follows:

If the date on which any amount is specified as being or is otherwise determined to be, payable in respect of any Security or Coupon is not (i) a Business Day and (ii) in the case of Definitive Securities only, a day other than a Saturday or Sunday on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealing in foreign exchange and foreign Currency deposits) in the relevant place of presentation, then payment will not be made until the next succeeding day which is (i) a Business Day and (ii) in the case of Definitive Securities only, also a day other than a Saturday or Sunday on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealing in foreign exchange and foreign Currency deposits) in the relevant place of presentation, and the holder thereof shall not be entitled to any further payment in respect of such 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 or around the Issue Date.
	(iii)	Estimate of total expenses related to admission to trading:	N/A
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

io f Ļ, of the Securities has an interest material to the issue.

$5¹$ REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i)	Reasons for the offer:	General funding
(ii)	Estimated net proceeds:	N/A

• $(iii)$ $N/A$ Estimated total expenses:
• 6 FIXED RATE SECURITIES ONLY - YIELD
• $N/A$ Indication of yield:
• $7⁷$ FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES

$N/A$

PERFORMANCE OF REFERENCE ASSET(S) OR OTHER VARIABLE, EXPLANATION OF EFFECT ON 8 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. Information on the FTSE 100 Index (including performance and volatility) is published on Reuters page: .FTSE.

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 9 INVESTMENT

$N/A$

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	N/A
Agents $(s)$ (if any):
Intended to be held in a manner which would	N 0

11 OFFER INFORMATION

The Issue Price includes a commission element which may be shared with a third party, which will be not exceed 6.00 per cent. of the Issue Price. Further details of the commission element are available upon request.