Prudential PLC — Capital/Financing Update 2011

Apr 18, 2011

FINAL TERMS

PRUDENTIAL PLC

£5,000,000,000

Debt Issuance Programme

Series No:21

Tranche No: 1

GBP200,000,000 Floating Rate Notes due 18 October 2011

Issued by

PRUDENTIAL PLC

Issue Price: 100%

Barclays Bank PLC

The date of the Final Terms is 18 April 2011

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 Prospectus dated 3 December 2010, which constitutes 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 reading conjunction with such Prospectus. 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 Prospectus. The Prospectus is available during normal business hours for viewing at, and copies may be obtained free of charge from, the registered office of the Issuer and Issue and Paying Agent for the time being in London. The Prospectus is also available on the London Stock Exchange's website at www.londonstockexchange.com.

1.	(i) Issuer:	Prudential plc
2.	(i) Series Number:	21
	(ii) Tranche Number:	1
3.	Specified Currency or Currencies:	Pound Sterling ("GBP")
4.	Aggregate Nominal Amount of Notes admitted to trading: Tranche: Series:	GBP 200,000,000 GBP 200,000,000
5.	Issue Price of Tranche:	100 per cent. of the Aggregate Nominal Amount
6.	(i) Specified Denominations:	GBP 100,000
	(ii) Calculation Amount:	GBP 100,000
7.	Issue Date and Interest Commencement Date:	18 April 2011
8.	Maturity Date:	Interest Payment Date falling in or nearest to October 2011
9.	Interest Basis:	3 month GBP-LIBOR-BBA Floating Rate
	10. Redemption/Payment Basis:	Redemption at par
	11. Change of Interest Basis or Redemption/Payment Basis:	Not Applicable
	12. Put/Call Options:	Investor Put
	13. (i) Status of the Notes:	Senior Notes
	(iii) Date of Board approval for issuance of Notes obtained	24 January 2007
	14. Method of distribution:	Non-syndicated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

		15. Fixed Rate Note Provisions	Not Applicable
16.		Floating Rate Note Provisions:	Applicable
	(i)	Specified Period(s)/ Specified Interest Payment Dates:	18 July 2011 and 18 October 2011
	(iij)	Business Day Convention:	Modified Following Business Day Convention
	(iii)	Additional Business Centre(s):	Not Applicable
	(iv)	Manner in which the Rates of Interest and Interest Amount is/are to be determined:	Screen Rate Determination
	(v)	Party responsible for calculating the Rates of Interest and Interest Amounts (if not the Issue and Paying Agent):	Not Applicable
		(vi) Screen Rate Determination:
		- Reference Rate:	3 month GBP LIBOR BBA
		- Interest Determination Date(s):	First day of each Interest Period
		- Relevant Screen Page:	Reuters screen LIBOR01 page
		(vii) ISDA Determination:	Not Applicable
		(viii) Margin(s):	0.00 per cent. per annum (flat)
		(ix) Minimum Rate of Interest:	Not Applicable
		(x) Maximum Rate of Interest:	Not Applicable
		(xi) Day Count Fraction:	Actual/365 (Fixed), adjusted
	(xii)	Fall back provisions, rounding provisions, denominator and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions:	Not Applicable
		17. Zero Coupon Notes Provisions	Not Applicable
18.		Index Linked Interest Note Provisions/other variable-linked interest Note Provisions	Not Applicable
19.		Dual Currency Note Provisions	Not Applicable

20. Step-Up Rate of Interest	Not Applicable
21. Deferral of Payments:	Not Applicable
22. Interest Deferral Option	Not Applicable
PROVISIONS RELATING TO REDEMPTION
23. Issuer Call:	Not Applicable
24. Investor Put:	Applicable
(i) Optional Redemption Date(s):	Any Business Day from and including the Issue Date to and including the Maturity Date
(ii) Optional Redemption Amount(s) and method, if any, of calculation of such amount(s):	GBP50,000 per Calculation Amount
(iii) Notice period (if other than as set Not less than 5 Business Days out in the Conditions):
25. Final Redemption Amount:	GBP50,000 per Calculation Amount
26. Early Redemption Amount(s) payable on redemption for taxation reasons (where applicable) or on event of default and/or the method of calculating the same (if required or if different from that set out in the Conditions):	As set out in the Base Prospectus
27. Make Whole Redemption Price: (Tier 2 and Tier 1 Notes only)	Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
28. Form of Notes:
Form: (i)	exchangeable for Global Note - a Temporary Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event
(ii) New Global Note:	No
29. Additional Financial Centre(s) or other special provisions relating to Payment Days:	Not Applicable
30. Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature):	No

on late payment:

	32. Details relating to Instalment Notes:
	Instalment Amount(s):	Not Applicable
	Instalment Date(s):	Not Applicable
	33. Redenomination applicable:	Redenomination not applicable
	34. Other terms or special conditions:	Not Applicable
	DISTRIBUTION
	35. (i) If syndicated, names of Managers:	Not Applicable
	(ii) Date of [Subscription] Agreement:	Not Applicable
	(iii) Stabilising Manager (if any):	Not Applicable
36.	If non-syndicated, name of relevant Dealer:	Barclays Bank PLC
	37. Additional selling restrictions:	Not Applicable

PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required for issue and admission to trading on the Regulated Market of the London Stock Exchange and admission to the Official List of the UK Listing Authority of the Notes described herein pursuant to the £5,000,000,000 Medium Term Note Programme of Prudential plc.

RESPONSIBILITY

The Issuer accepts responsibility for the information contained in these Final Terms.

Signed on behalf of the Issuer:

By: Cust Duly Authorised

PART B - OTHER INFORMATION

1. LISTING

(i)	Listing:	London
(i)	Admission to trading:	Application has been made for the Notes to be admitted to the Official List of the UK Listing Authority and to be admitted to trading on the Regulated Market of the London Stock Exchange with effect from on or about the 18 October 2010.
(iii)	Estimate of total expenses relating to admission to trading:	£800

2. RATINGS

Ratings:	The Notes to be issued have been rated:
	S&P: $A+$
	Moody's: A2
	$A+$ Fitch:
	rating, if specified, is not A recommendation to buy, sell or hold Notes and may be subject to suspension, modification or withdrawal at any time by the assigning rating agency.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

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

4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i)	Reasons for the offer:	See "Use of Proceeds" wording in the Base Prospectus
(i)	Estimated net proceeds:	Not Applicable
(iii)	Estimated total expenses:	Not Applicable

5. Fixed Rate Notes only - YIELD

Indication of yield:	Not Applicable

6. Floating Rate Notes only - Applicable

Details of historic GBP-LIBOR-BBA rates can be obtained from Reuters page LIBOR01

1. [Index-Linked or other variable-linked Notes only - PERFORMANCE OF INDEX/FORMULA/OTHER VARIABLE AND OTHER INFORMATION CONCERNING THE UNDERLYING

Not Applicable.

8. [Dual Currency Notes only - PERFORMANCE OF RATE[S] OF EXCHANGE

Not Applicable

9. [Tier 1 and Upper Tier 2 Notes only - Alternative Coupon Satisfaction Mechanism

Not Applicable

10. OPERATIONAL INFORMATION

ISIN Code:	XS0618846967
Common Code:	061884696
than clearing system(s) other Any Bank S.A./N.V. and Euroclear Clearstream Banking Societe Anonyme identification relevant the and number(s):	Not Applicable
Delivery:	Delivery free of payment
Names and addresses of additional Paying Agent(s) (if any):	Not Applicable
Intended to be held in a manner which would allow Eurosystem eligibility:	No

11. GENERAL

Applicable TEFRA exemption:	D Rules

144A Eligible:	Not 144A Eligible