NATIONWIDE BUILDING SOCIETY

Capital/Financing Update • Dec 17, 2010

FINAL TERMS

17 December 2010

Nationwide Building Society GBP 5,000,000 Floating Rate Notes due December 2012 issued pursuant to its U.S.\$25,000,000,000 Note Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 28 September 2010 and the Supplemental Prospectus dated 23 November 2010 which together constitute a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus, as so supplemented. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus as so supplemented. The Base Prospectus and the supplemental Prospectus are available for viewing during normal office hours at, and copies may be obtained from, the principal office of the Issuer at Nationwide House, Pipers Way, Swindon SN38 INW and the specified offices of each of the Paying Agents.

TYPE OF NOTE

• $\overline{1}$ . Deposit/Ordinary/Subordinated:
• $2.$ Interest/Payment Basis:
• 1. If Instalment Note, insert Instalment Amount(s)/ Instalment Date(s):
• $\overline{4}$ . If Partly Paid Notes, insert amount of each instalment (expressed as a percentage of the nominal amount of each Note)/ due dates for any subsequent instalments/consequences of failure to pay/rate of interest:
• 1. If Dual Currency Notes, insert the Rate(s) of Exchange/calculation agent/fall back provisions/ person at whose option Specified Currency is to be payable/details of Calculation Agent (if any):
• DESCRIPTION OF THE NOTES
• 1. New Global Note:
• 1. Form of Notes:

8.

9.

$10.$

• Talons for future Coupons to be $\left( 1\right)$ attached to Definitive Notes:
• $(b)$ Date(s) on which the Talons mature:
• Series Number: $(a)$
• $(b)$ Tranche Number:
• $(c)$ Details (including the date, if any, on which the Notes become fully fungible) if forming part of an existing Series:
• $(a)$ Nominal Amount of Notes to be issued:
• $(b)$ Aggregate nominal amount of Series (if more than one issue for the Series):

Ordinary

Floating Rate Not Applicable

Not Applicable

Not Applicable

Yes

No

Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event

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Not Applicable
425
Not Applicable
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GBP 5,000,000
Not Applicable

	(c)	Specified Currency (or Currencies in the case of Dual Currency Notes):	Pound Sterling $(GBP)$
	(d)	Specified Denomination(s):	GBP100,000 and integral multiples of GBP10,000 in excess thereto up to and including GBP190,000.
			No Notes in definitive form will be issued with a denomination above GBP190,000.
	(e)	Calculation Amount:	GBP10,000.
11.	Issue Price:		100.00 per cent.
12.	Issue Date:		21 December 2010
13.		Interest Commencement Date:	The Issue Date
		PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
GENERAL
14.		Automatic/optional conversion from one	Not Applicable
		Interest/Payment Basis to another:	W
	FIXED RATE NOTES		Not Applicable
			$\mathcal{U}_1$
		ZERO COUPON NOTES	Not Applicable
FLOATING	INTEREST NOTES	RATE NOTES OR INDEXED	품도 Applicable
17.	(a)	Party Responsible for calculating the Interest Amount (if not the Agent):	Not Applicable
	(b)	Interest Period(s) or specified Interest Payment Date(s):	Annually in arrears, on 21 December in each year commencing from and including the interest payment date in December 2011, up to and including the Maturity Date as adjusted in accordance with the Business Day Convention specified below
	(c)	Minimum Interest Rate (if any):	Not Applicable
	(d)	Maximum Interest Rate (if any):	Not Applicable
	(e)	Business Day Convention:	Modified Following Business Day Convention
	(g)	Additional Business Centres:	Not Applicable
	(h)	Day Count Fraction:	Actual/365 (Fixed), adjusted
	(i)	Other terms relating to the method of calculating interest (N.B. rounding up provisions and if different from Condition 5.2(d) denominator for calculation of Interest):	Condition 5.2(d) applies
		FLOATING RATE NOTES	Applicable
18.	(a)	Margin(s):	plus 0.20 per cent. per annum
	(b)	First Interest Payment Date:	21 December 2011
	(c)	Manner in which Rate of Interest is to be determined:	Screen Rate Determination
	(d)	If Screen Rate Determination:
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		(i)	Reference Rate:			12 month GBP LIBOR
		(ii)	Interest $Date(s)$ ::	Determination	Period	The First London Business Day in the relevant Interest
		(iii)	Relevant Screen Page			Reuters Screen LIBOR01 page
	(e)		If ISDA Determination:		Not Applicable
	(f)	Rate provisions:	of Interest	If Rate of Interest to be calculated otherwise than by reference to (d) or (e) above, insert details, including and fallback	Not Applicable		菘
	INDEXED INTEREST NOTES				Not Applicable
			PROVISIONS REGARDING PAYMENTS
20.	Condition 7.3:			Definition of Payment Day for the purpose of Conditions if different to that set out in		Condition 7.3 applies
				PROVISIONS REGARDING REDEMPTION/MATURITY
21.	Maturity Date:					The Interest Payment Date falling in December 2012
22.	$\left( a\right)$		Redemption at Issuer's option:		No
	(b)		Redemption at Noteholder's option:		No
	(c)	each Note	Optional Redemption Amounts of		Not Applicable
	(d)		Minimum Redemption Amount:		Not Applicable		ł
	(e)		Higher Redemption Amount:		Not Applicable
	(f)		in the conditions):	Notice Period (if other than as set out	Not Applicable
	(g)	redemption:	Other terms applicable on		Not Applicable
23.	same:		Final Redemption Amount for each Note,	including the method, if any, of calculating the		GBP10,000 per Calculation Amount
24.			Early Redemption Amount for each Note on an Event of Default and/or the method, if	payable on redemption for taxation reasons or		Condition 6.6(a) applies
			any, of calculating the same, if other than as set out in Condition $6.6(a)$ :			đ,
				GENERAL PROVISIONS APPLICABLE TO THIS ISSUE OF NOTES
25.		Other final terms:			Not Applicable
26.			Additional selling restrictions:		Not Applicable
27.		Method of distribution:			plc	Non-syndicated relevant Dealer is Lloyds TSB Bank
28.		Stabilising Manager:			None
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29.	Common Depositary:	Citibank, N.A. London
		Citigroup Centre
		Canada Square
		Canary Wharf	Ą
		London E14 5LB
30.	U.S. Selling Restrictions:	Reg S Compliance Category2: TEFRA D
31.	Redenomination and Exchange provisions:	Not Applicable
	PURPOSE OF FINAL TERMS
	These Final Terms comprise the final terms required for the issue and admission to trading on London Stock Exchange plc's Gilt Edged and Fixed Interest Market and admission to the List of the United Kingdom Listing Authority of Notes described herein pursuant to the U.S.\$25,000,000,000 European Note Programme of Nationwide Building Society.
	RESPONSIBILITY
	The Issuer accepts responsibility for the information contained in these Final Terms.
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	For and on behalf of NATIONWIDE BUILDING SOCIETY
By:
					SOCIETY
	CHRIS KHLOH-MUNNS
E FILL. ገ፤ ልጥ	FTS MANAGER 長庭堂 tonwebe bhh dhng society
			FREASURY	ADMINISTRATION
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			H

PART B-OTHER INFORMATION

LISTING AND ADMISSION TO TRADING

			(a) Listing and Admission to trading:
--	--	--	---------------------------------------	--	--	--

Application has been made by the Issuer for the Notes to be admitted to trading on the London Stock Exchange's Gilt Edged and Fixed Interest Market and admission to the Official List of the UK Listing Authority with effect from on or about the Issue Date

(b) Estimated total expenses related to Not Applicable admission to trading:

RATINGS

$\mathbf{1}$ .

1.

3.

4.

5.

6.

7.

8.

Ratings:

Moody's: Aa3
$-A+$
$AA -$
	The Programme has been rated: E

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save for any fees payable to the Dealers, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer

REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i)	Reasons for the offer	General Funding
(ii)	Estimated net proceeds:	GBP 5,000,000
(iii)	Estimated total expenses:	Not Applicable
	YIELD ( Fixed Rate Notes only )	Not Applicable

HISTORIC INTEREST RATES (Floating Rate Notes only)

Details of historic LIBOR rates can be obtained from Reuters Screen LIBOR01 Page

PERFORMANCE OF INDEX/FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE UNDERLYING (Index-Linked Notes only) - Not Applicable

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PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Dual Currency Notes only) - Not Applicable

OPERATIONAL INFORMATION 9.

(i)	ISIN Code:	XS0572621687
(i)	Common Code:	057262168 용기
(iii)	Any clearing system(s) other than Euroclear Bank S.A./N.V. and Banking, Clearstream société the and relevant anonyme identification number(s):	Not Applicable
(iv)	Delivery:	Delivery against payment
(v)	Names and addresses of additional Initial Paying Agent(s) (if any):	Not Applicable $\frac{1}{2}$
(v i )	Names and addresses of additional Paying Agent(s) (if any):	Not Applicable
(vii)	Intended to be held in a manner which would allow Eurosystem	No
	eligibility:	Ŧ.