Barclays PLC — Capital/Financing Update 2012

Jul 25, 2012

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

2,000,000 Index Linked Warrants due July 2014

Series NX000103859

under the Global Structured Securities Programme

Issue Price: GBP 0.98 per Warrant

This document constitutes the final terms of the Warrants (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 14 June 2012, 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.

Barclays

Final Terms dated 25 July 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 Disclaimers

FTSE disclaimer

The Warrants are 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 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 (the "FTSE Index") and/or the figure at which the said FTSE Index stands at any particular time on any particular day or otherwise. The FTSE Index is compiled and calculated by FTSE. However, neither FTSE nor Exchange nor FT shall be liable (whether in negligence or otherwise) to any person for any error in the FTSE Index and neither FTSE or 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 14 June 2012.

Issuer:	Barclays Bank PLC
Guarantor:	N/A
Manager:	Barclays Bank PLC
Determination Agent:	Barclays Capital Securities Limited
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 AND THE BASE PROSPECTUS, SEE "PURCHASE AND SALE" AND "CLEARANCE, SETTLEMENT AND TRANSFER RESTRICTIONS – TRANSFER RESTRICTIONS FOR REGISTERED SECURITIES" IN THE BASE PROSPECTUS.

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

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

1	Series:		NX000103859
2	Currency:		Pound Sterling ("GBP")
3		Number of Warrants or Exercisable Certificates being issued:	2,000,000
4	(i)	Minimum Tradable Amount:	50,000 Warrants The Minimum Tradable Amount will apply through the life of the Warrants such that there may be no sales or partial cancellations of Warrants in amounts less than the Minimum Tradable Amount.
	(ii)	Calculation Amount as at the Issue Date:	GBP 1.00
			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)	CDIs:	N/A
6	Trade Date:		11 July 2012
7	Issue Date:		25 July 2012
8	Issue Price:		GBP 0.98 per Security
9		Relevant Stock Exchanges:	London Stock Exchange
10	The following Relevant Annexes shall apply to the Securities:		Equity Linked Annex
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
			N/A
18		Interest Commencement Date:
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
24	(i)	Exercise Style:	Bermudan Style
	(ii)	Multiple Exercise Securities:	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:		N/A
28	Exercise Date(s):		Each Potential Exercise Business Date
29		Exercise Parameters:	N/A
30	Potential Exercise Business Dates:		The dates specified under the heading "Potential Exercise Business Date" in the Schedule. If the Index Observation Date(i) in relation to a Potential Exercise Business Date(i) is postponed to a later date, then such Potential Exercise Business Date(i) shall be deemed to also be postponed to such later date.
31		Exercise Business Day:	N/A
32	Exercise Period:		The period from and including the Issue Date to and including the Expiration Date
33	Expiration Date:		11 July 2014 (the "Final Exercise Date"), provided that if on any Index Observation Date(i) (other than Index Observation Date (5)) the Index Performance in respect of such Index Observation Date(i) is greater than or equal to 100 per cent. then the Expiration Date will be brought forward to the Potential Exercise Business Date corresponding to such Index

Observation Date(i) and, following Automatic Exercise, the Issuer will pay the Exercise Cash Settlement Amount on the Exercise Cash

		Settlement Date in relation to such Index Observation Date(i).
		Where:
		"i" means each iteration corresponding to an Index Observation Date, Potential Exercise
		Business Date and Exercise Cash Settlement Date, as set out in the Schedule.
		"Index Initial" means the Index Level of the Index
		published by the Index Sponsor at the Valuation
		Time on the Initial Valuation Date, being 5664.48.
		"Index Observation Date(i)" means each date specified under the heading "Index Observation Date(i)" as set out in the Schedule.
		"Index Performance" is calculated as follows:
		Index Level/Index Initial
		"Initial Valuation Date" means 11 July 2012.
34	Automatic Exercise:	Applicable in whole
35	Minimum Number Exercise Requirement:	N/A
36	Maximum Daily Number:	N/A
37	Nominal Call Event:	N/A
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:

(i) Exercise Cash Settlement Amount: In respect of each Warrant an amount in GBP equal to:

Calculation Amount x Relevant Percentage

"Relevant Percentage" means, in respect of each Index Observation Date(i), as set out below:

(A) On Index Observation Date (1) if the Index Performance is greater than or equal to 100 per cent., then the Expiration Date will be brought forward to Potential Exercise Business Date (1) and, following Automatic Exercise, the Issuer will deliver the relevant Exercise Cash Settlement Amount on the Exercise Cash Settlement Date (1) in relation to such Index Observation Date. Where:

The Relevant Percentage shall be 110.20 per cent.

(B) On Index Observation Date (2) if the Index Performance is greater than or equal to 100 per cent., then the Expiration Date will be brought forward to Potential Exercise Business Date (2) and, following Automatic Exercise, the Issuer will deliver the relevant Exercise Cash Settlement Amount on the Exercise Cash Settlement Date (2) in relation to such Index Observation Date. Where:

The Relevant Percentage shall be 112.75 per cent.

(C) On Index Observation Date (3) if the Index Performance is greater than or equal to 100 per cent., then the Expiration Date will be brought forward to Potential Exercise Business Date (3) and, following Automatic Exercise, the Issuer will deliver the relevant Exercise Cash Settlement Amount on the Exercise Cash Settlement Date (3) in relation to such Index Observation Date.

Where:

The Relevant Percentage shall be 115.30 per cent.

(D) On Index Observation Date (4) if the Index Performance is greater than or equal to 100 per cent., then the Expiration Date will be brought forward to Potential Exercise Business Date (4) and, following Automatic Exercise, the Issuer will deliver the relevant Exercise Cash Settlement Amount on the Exercise Cash Settlement Date (4) in relation to such Index Observation Date. Where:

The Relevant Percentage shall be 117.85 per cent. (E) If any of the above does not apply and the Expiration Date is not brought forward, then on the Index Observation Date (5), following Automatic Exercise on the Final Exercise Date, the Issuer will deliver the relevant Exercise Cash Settlement Amount on Exercise Cash Settlement Date (5) in relation to such Index Observation Date:

(a) If Index Performance on Index Observation Date (5) is equal to or greater than 100 per cent., then the Relevant Percentage shall be

			120.40 per cent.
			(b) Otherwise, if Index Performance on Index Observation Date (5) is less than 100 per cent., then the Relevant Percentage shall be calculated as follows:
			min(Index Performance, 100 per cent.)
	(ii)	Exercise Cash Settlement Date:	Each date specified under the heading "Exercise Cash Settlement Date(i)" corresponding to an Index Observation Date(i), as set out in the Schedule
	(iii)	Early Cash Settlement Amount:	As defined in Condition 24 of the Base Conditions
	(iv)	Early Cancellation Date:	As defined in Condition 24 of the Base Conditions
42		Specified Early Cancellation Event:	N/A
43	Call Option:		N/A
44		Early Exercise Trigger Event:	N/A
45	Terms relating to Physically Delivered N/A Securities:
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:	N/A
48		Share Linked Securities:	N/A
49	only):	Index Linked Securities (Equity notices	Applicable
	(i)	Index/Indices (each a	The FTSETM 100 (the "Index")
		"Reference Asset"):	Bloomberg code (for reference purposes only): UKX
			Index Sponsor: FTSE International Limited
	(ii)	Future Price Valuation:	N/A
	(iii)	Exchange-traded Contract:	N/A
	(iv)	Exchanges:	London Stock Exchange
	(v)	Related Exchanges:	All Exchanges
	(vi)	Exchange Rate:	N/A
	(vii)	Weighting for each Reference Asset comprising the Basket of	N/A

Reference Assets:

	(viii)	Index Levels of each Reference Asset:	The level of the Index published by the Index Sponsor at the Valuation Time on any Scheduled Trading Day.
	(ix)	Valuation Date:	Each Index Observation Date(i) as set out in the Schedule
	(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)	FX Inbound Valuation Disruption Event:	N/A
	(xv)	ODI Early Redemption Event:	N/A
	(xvi)	FINI Early Redemption Event:	N/A
	(xvii)	Local Jurisdiction Taxes and Expenses:	N/A
	(xviii)	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	Index Annex):	(a) Barclays Commodity Index Linked Securities (Section 2 of the Barclays	N/A
		(b) Barclays Equity Index 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
	Index Annex):	(d) Barclays Interest Rate Index Linked Securities (Section 5 of the Barclays	N/A
		(e) Barclays Emerging Market Index Linked Securities (Section 6 of the Barclays Index Annex):	N/A

57	Fund Linked Securities:	N/A
58	Settlement in respect of APK Registered Securities, Swedish Registered Securities, Italian 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
61	Definition of In-The-Money:	As defined in Condition 24 of the Base Conditions
62	Business Days:	As defined in Condition 24 of the Base Conditions
	Additional Business Centre(s):	N/A
63	Non-US Selling Restrictions:	Investors are bound by the selling restrictions of the relevant jurisdiction(s) in which the Securities are to be sold as set out in the Base Prospectus.
64	Applicable TEFRA exemption:	N/A
65	Other:	N/A
66	Business Day Convention:	Following
67	Relevant Clearing Systems:	Euroclear Clearstream
68	If syndicated, names of Managers:	N/A
69	Relevant securities codes:	ISIN: GB00B8JTV227 Common Code: 080687427
70	Modifications to the Master Subscription Agreement and/or Master Agency Agreement (as amended from time to time):	N/A

71 Additional Conditions and/or modification to the Conditions of the Securities:

Postponement of Payments and Delivery:

If a date used to determine a payment or entitlement is postponed, then the relevant date for payment or delivery shall be the later of (i) the scheduled date for payment or delivery, and (ii) the second Business Day following the latest date on which a price or level is determined.

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 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

6 FIXED RATE SECURITIES ONLY - YIELD

Indication of yield:	N/A

7 FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES

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

Whether or not the Warrants are exercised before the Final Exercise Date and the Exercise Cash Settlement Amount depends upon the performance of the FTSE 100 Index on each Index Observation Date(i) as compared to the level of the Index on the Initial Valuation Date. Information on the Index (including past and future performance and volatility) is published on Bloomberg page "UKX".

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

9 PERFORMANCE OF RATE OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF 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
Name and address of Swedish Issue and	N/A
Paying Agent:
Intended to be held in a manner which would	No

11 OFFER INFORMATION

The Issue Price includes a commission element to be shared with a third party, which will not exceeed 1.6 per cent. of the Issue. Further details of the commission element are available upon request.

Schedule

i	Index Observation Date(i) (subject to Disrupted Day provisions)	Potential Exercise Business Date(i)	Exercise Cash Settlement Date
1	11-July-2013	11-July-2013	25-July-2013
2	11-October-2013	11-October-2013	25-October-2013
3	13-January-2014	13-January-2014	27-January-2014
4	11-April-2014	11-April-2014	29-April-2014
5	11-July-2014 (the "Final Valuation Date")	The Final Exercise Date	25-July-2014

Index Observation Dates/Potential Exercise Business Dates/Exercise Cash Settlement Dates