WKN

Valor: ISIN: RIC:

11862306 CH0118623062 CH11862306=BARL

4 Year Shark Note on SX5E Index

Termsheet dated 01 April 2011
PLEASE SEE IMPORTANT DISCLAIMERS AND RISK WARNINGS AT THE END OF THIS DOCUMENT. THIS MATERIAL SHOULD BE READ IN CONJUNCTION WITH THE BASE PROSPECTUS (THE BASE PROSPECTUS) RELATING TO THE ISSUERS RETAIL STRUCTURED SECURITIES PROGRAMME (THE PROGRAMME). TERMS USED BUT NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS ASSIGNED TO SUCH TERMS IN THE BASE PROSPECTUS. THESE NOTES DO NOT CONSTITUTE COLLECTIVE INVESTMENT SCHEMES IN THE MEANING OF THE SWISS FEDERAL ACT ON COLLECTIVE INVESTMENT SCHEMES (THE CISA). ACCORDINGLY, HOLDERS OF THE NOTES DO NOT BENEFIT FROM PROTECTION UNDER THE CISA OR SUPERVISION BY THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA.

1. Description of the Product

Information on Underlying

Index Name

Bloomberg Ticker

Primary Exchange

Related Exchange All exchanges

Currency

Strike Price

EURO STOXX 50 (Price) Index

SX5E Index

Frankfurt

EUR

2962.92

Issuance Issuer Barclays Bank PLC (Under its Retail Structured Securties Programme), a bank incorporated in England with its registered head office in I Churchill Place, London E14 5 HP, England, and supervised by the UK Financial Services Authority Lead Manager Calculation Agent Rating Barclays Bank PLC, London Barclays Bank PLC, London Aa3 (Moodys) / Aa- (S&P) / AA- (Fitch)

Product Details

SVSP Product Name Settlement Currency Issue Price Specified Denomination (SD)

Capital Protection with Knock-Out (1130) EUR 100.00% EUR 5000

Redemption

Redemption Amount

On the Maturity Date, the Issuer shall pay to the Note holder in respect of each Note an amount in EUR determined as follows:

Where i) If P Max < PInitial * 140.00%

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Redemption at Maturity =SD *

Max 100%,

PFinal PInitial

ii) If PMax

PInitial * 140.00%

Redemption at Maturity = Denomination * 130.00% Where: PInitial means, the Relevant Index Price on the Strike Date; (01 April 2011) PFinal means, the Relevant Index Price on the Final Valuation Date (01 April 2015); and PMax means, the highest Relevant Index Price between Strike Date and Final Valuation Date, observed intraday

Dates

Trade Date Initial Fixing Final Valuation Date

23 March 2011 01 April 2011 01 April 2015

Issue Date Maturity Date

08 April 2011 08 April 2015

Other Details Initial Issue Size Minimum Trading Size Settlement Listing Secondary Market / Quotation EUR 5000000 1 Note Cash None DIRTY Indicative Prices: In order to ensure a secondary market for the Notes, Barclays Bank PLC (Barclays) hereby agrees: a) Daily Indicative Prices: to provide daily indicative prices of the Notes by publication on Reuters/BARX or other similar pricing source; and b) Indicative Bid and Offer Prices: subject to (i) the existence of normal market and funding conditions as determined by Barclays in its sole discretion; and (ii) applicable laws and regulations upon request by any Noteholder, to provide indicative bid and offer prices for the Notes with a view to agreeing the offer or repurchase of such Notes within a reasonable period thereafter. c) Bid-Offer Spread: Where Barclays does provide an Indicative Bid Price in accordance with the above paragraph, the bid-offer spread, in normal market conditions, is expected to be 1%. Last Trading Day Clearing Fiscal and Paying Agent Documentation The Final Valuation Date SIS / Euroclear / Clearstream Banking, SA / Clearstream Frankfurt BNP Paribas Securities Services, Paris, succursale de Zurich To be issued under the Barclays Bank PLC Retail Structured Securties Programme (the Programme). A copy of the Programme should be requested from Barclays Bank PLC if the Investor does not already have a copy. The Base Prospectus, the final terms and conditions and the 2003 ISDA Credit Derivatives Definitions will be made available for Swiss investors at Barclays Bank PLC, Beethovenstrasse 19, CH-8027 Zurich (phone +41 44 205 5230; e-mail: info-ch@barcap.com.) Business Day Convention Business Days Fixing Business Days Payment Publications Modified Following Business Days TARGET, London, Zurich TARGET All notices concerning the Securities will be published on the website www.barclaysinvestors.com.
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Governing Law / Jurisdiction Swiss Taxation

Swiss law The following is a summary only of the Issuers understanding of current law and practice in Switzerland relating to the taxation of the Certificates. It does not address the tax consequences of an investment in the Certificates in any other jurisdiction than Switzerland. Because this summary does not address all tax considerations under Swiss law and does not consider the specific tax situation of an investor, prospective investors are recommended to consult their personal tax advisors as to the tax consequences of the purchase, ownership, sale or redemption of the Certificates including, in particular, the effect of tax laws of any other jurisdiction. An investor shall be liable for all current and future taxes and duties resulting from an investment in the Certificates. The Certificates are not subject to Swiss Securities Issuance Tax (Emissionsabgabe) and income derived from the Certificates is not subject to Swiss Withholding Tax (Verrechnungssteuer). They are, however, subject to Swiss Securities Transfer Tax (Umsatzabgabe) at a current rate of up to 0.15%, calculated on the purchase price or sales proceeds, respectively, upon purchase or sale of the Certificates, whether by Swiss resident or non-Swiss resident investors, if the purchase or sale occurs through or with a Swiss bank or a Swiss securities dealer, and no exemption applies. For private investors resident in Switzerland holding the Certificates as private assets, the increase of the value of the bond part when sold before maturity, called by the Issuer before maturity or redeemed at maturity (calculated according to the so-called Modifizierte Differenzbesteuerung) is subject to Swiss income tax (Einkommenssteuer). The net present value for the guaranteed bond component at redemption or sale is calculated by the Issuer on the Trade Date.

Bond Floor: 89.75 % (Ref 4y EUR Swap: 2.74%)

EU Tax Classification Code according to CH Guideline Sales Restriction

2 (=out of scope)

UK, US

2. Prospects of Profits and Losses

Capital Protection with Knock-Out (1130) Market expectation Rising underlying Sharply falling underlying possible

Brief Description

Characteristics Minimum redemption at expiry equivalent to the capital protection Capital protection is defined as a percentage of the nominal (e.g. 100%) Capital protection refers to the nominal only, and not to the purchase price Value of the product may fall below its capital protection during the lifetime Participation in a positive performance of the underlying until Knock-Out Possible payment of a Rebate following a Knock-Out Any payouts attributable to the underlying are used in favour of the strategy Limited profit potential

Market Expectation: Investors in this product expect the Underlying to trade positively over the life of the product. Risk Tolerance: Investors in this product should be experienced investors and familiar with both derivative products and stock markets. Loss Potential: Principal protection at maturity (Barclays Credit Risk) For a more detailed explanation on redemption scenarios including calculation examples, please see the Swiss Derivatives Map on www.svsp-verband.ch for payout diagrams.

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3. Significant Risks for the Investor

Product Specific Risks An investment in the Securities is only suitable for potential investors who (i) have the requisite knowledge and experience in financial and business matters to evaluate the merits and risks of such an investment; (ii) have access to, and knowledge of, the appropriate analytical tools to evaluate such merits and risks; (iii) understand thoroughly the terms of these Securities ; (iv) are capable of bearing the economic risk of an investment in the Securities ; and (v) recognize that it may not be possible to dispose of the Securities for a substantial period of time, if at all before maturity. The value of the Securities is determined not only by changes in market prices, changes in the price of an underlying, but also by several other factors. More than one risk factor can influence the value of the Securities at any one time, so that the effect of an individual risk factor cannot be predicted. Moreover, more than one risk factor may have a compounding effect that is also unpredictable. These risk factors include the term of the Securities and the frequency and intensity of price fluctuations (volatility) of the underlying(s) as well as general interest and dividend levels. Consequently, the Securities may lose value even if the price of the underlying(s) increases. Each of the Issuer, the Manager(s) or their respective affiliates may deal with and engage generally in any kind of commercial or investment banking or other business with any issuer of underlying Securities, their respective affiliates or any guarantor or any other person or entities having obligations relating to any issuer of underlying Securities or their respective affiliates or any guarantor in the same manner as if these Securities did not exist, regardless of whether any such action might have an adverse effect on an issuer of the underlying Securities, any of their respective affiliates or any guarantor The relevant risk factors are described in detail in the Base Prospectus, see Part A.I.A "Summary of the Risk Factors" and Part B " Risk Factors "of the Base Prospectus. Counterparty Risk Investors bear the credit risk of Barclays Bank PLC as issuer of the Securities /Certificates. The Securities constitute unsubordinated, unsecured contractual obligations of Barclays Bank PLC and rank pari passu in all respect with all other unsubordinated, unsecured contractual obligations of Barclays Bank PLC. The insolvency of Barclays Bank PLC may lead to a partly or total loss of the invested capital. Barclays Capital is the investment banking division of Barclays Bank PLC, which is authorised and regulated by the UK Financial Services Authority and a member of the London Stock Exchange. This product does not represent a participation in any of the collective investment schemes pursuant to Art. 7 et seq. of the Swiss Federal Act on Collective Investment Schemes (CISA) and thus is not subject to the supervision of the Swiss Financial Market Supervisory Authority (FINMA). Therefore, investors in this product are not eligible for the specific investor protection under the CISA. In connection with the offer and sale of the Certificates, the Distributor/Co-Structurer may acquire the Certificates from Barclays Bank PLC at a discount to the Issue Price or at the Issue Price. If the Distributor/Co-Structurer acquires the Certificates at the Issue Price, Barclays Bank PLC may pay to the Distributor/Co-Structurer a Distribution Fee. Such amounts received by the Distributor/Co-Structurer may be in addition to the brokerage cost/fee normally applied by the distributor. The purchaser acknowledges that such Distribution Fee may be retained by the Distributor/Co-Structurer . Further information is available from the Distributor/Co-Structurer on request. EURO STOXX 50(Price) Index STOXX and its licensors (the Licensors) have no relationship to the Licensee, other than the licensing of the EURO STOXX 50(Price) Index and the related trademarks for use in connection with the products. STOXX and its Licensors do not: Sponsor, endorse, sell or promote the products. Recommend that any person invest in the products or any other securities. Have any responsibility or liability for or make any decisions about the timing, amount or pricing of products. Have any responsibility or liability for the administration, management or marketing of the products. Consider the needs of the products or the owners of the products in determining, composing or calculating the EURO STOXX 50(Price) Index or have any obligation to do so.

Prudential Supervision CISA

Distribution Fee

Index Disclaimers

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STOXX and its Licensors will not have any liability in connection with the products. Specifically, STOXX and its Licensors do not make any warranty, express or implied and disclaim any and all warranty about: The results to be obtained by the products, the owner of the products or any other person in connection with the use of the EURO STOXX 50(Price) Index and the data included in the EURO STOXX 50(Price) Index; The accuracy or completeness of the EURO STOXX 50(Price) Index and its data; The merchantability and the fitness for a particular purpose or use of the EURO STOXX 50(Price) Index and its data; STOXX and its Licensors will have no liability for any errors, omissions or interruptions in the EURO STOXX 50(Price) Index or its data; Under no circumstances will STOXX or its Licensors be liable for any lost profits or indirect, punitive, special or consequential damages or losses, even if STOXX or its Licensors knows that they might occur. The licensing agreement between the issuer and STOXX is solely for their benefit and not for the benefit of the owners of the products or any other third parties.

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Disclaimer

RISK WARNING

Indicative Information

CONFLICTS OF INTEREST INDICATIVE ONLY NO OFFER CISA

The issue price and premiums, charges and fees may include a commission element which may be shared with a third party, the details of which are available upon request. Barclays relies on and looks towards the intermediary to comply with the Swiss law obligation regarding retrocession and, when applicable, will disclose or forward any retrocession payment he receives from a Barclays entity to his client, unless the intermediary and his client have validly agreed otherwise. Since Barclays does not know the identity of the intermediary' client, it is impossible for Barclays to disclose such retrocession payments to the client of the s intermediary. As a consequence thereof, the intermediary herewith undertakes to duly fulfil all legal requirements under Swiss law. This document has been prepared by Barclays Capital, the investment banking division of Barclays Bank PLC ("Barclays"), for information purposes only. This document is an indicative summary of the terms and conditions of the transaction described herein and contains the information (indicative) required for a simplified prospectus pursuant to article 5 of the CISA for public distribution of the Certificates in Switzerland. It may be amended, superseded or replaced by subsequent summaries. The final terms and conditions of the transaction will be set out in full in applicable offering document(s) or binding transaction document(s) BARCLAYS IS A MARKET PARTICIPANT. Barclays, its affiliates and associated personnel may act in several capacities (including hedging activity and trading positions) in financial instruments which may adversely affect any Products performance. THIS DOCUMENT IS AN INDICATIVE SUMMARY. It has been prepared by Barclays. It is subject to change. THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT BINDING. We are not offering to sell or seeking offers to buy any Product. Any transaction requires our subsequent formal agreement which will be subject to internal approvals and binding transaction documents. These Certificates do not constitute collective investment schemes in the meaning of the Swiss Federal Act on Collective Investment Schemes (CISA). Accordingly, holders of the Certificates do not benefit from protection under the CISA or supervision by the Swiss Financial Market Supervisory Authority FINMA. OBTAIN INDEPENDENT PROFESSIONAL ADVICE BEFORE INVESTING. We are not your advisor or fiduciary. In any resulting transaction, we will act as principal. We are not recommending or making any representations as to suitability of any Product. We are not responsible for information stated to be obtained or derived from third party sources or statistical services. You must comply with any laws and regulations in any jurisdiction in which you offer or sell a Product or distribute offering materials to the public, including as to the disclosure of fees and commissions received or paid by you in connection with distribution. This document is confidential. No part of it may be reproduced, distributed or transmitted without Barclays written permission. BARCLAYS MAY HAVE PRIVATE INFORMATION ABOUT ANY PRODUCT. We are not obligated to disclose any such information to you. Barclays may disclose any information relating to your investment which is required by regulators. Barclays will not be liable for any use you make of any information in this document. Barclays Capital is the investment banking division of Barclays Bank PLC. Barclays Bank PLC is authorised and regulated by the UK Financial Services Authority and a member of the London Stock Exchange. Barclays Bank PLC is registered in England No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP. Copyright Barclays Bank PLC, 2010 (all rights reserved). MARKETS MAY BECOME DISRUPTED. Local market disruptions can have a global effect. Market disruption can adversely affect the performance of the Product. THERE MAY NOT ALWAYS BE A SECONDARY MARKET FOR THE PRODUCT. If a secondary market exists, prices in that market may be lower than the issue price or purchase price of the Product. THIS PRODUCT BEARS BARCLAYS CREDIT RISK. A decline in Barclays creditworthiness will reduce the market value of the Product. If Barclays becomes insolvent we will not be able to meet our payment obligations under the Product. CREDIT RATINGS MAY BE LOWERED OR WITHDRAWN WITHOUT NOTICE. A rating is not a recommendation as to Barclays creditworthiness or the risks, returns or suitability of the Product. THIS PRODUCT MAY BE VOLATILE. The level of change in value of a Product is its volatility. The Products volatility may be affected by performance of the underlying assets, along with financial, political and economic events and other market conditions. THIS IS A STRUCTURED PRODUCT. Its return may differ from those of the underlying financial assets it references. THIS PRODUCT CARRIES INTEREST RATE RISK. Changes in interest rates will impact the performance of the Product. Interest rates tend to change suddenly and unpredictably. YOU HAVE NO CLAIM TO THE UNDERLYING ASSETS. Buying the Product is not the same as a direct investment in the underlying assets. The market value of this Product may not reflect movements in the price of the underlying assets. TAX MAY APPLY. Payments from Barclays may be subject to tax, withholding and other deductions. THIS PRODUCT COMBINES INVESTMENT TYPES. Different types of financial risk may interact unpredictably, particularly in times of market stress. THIS DOCUMENT CANNOT DISCLOSE ALL POSSIBLE RISKS OF THE PRODUCT. Before investing, you must satisfy yourself that you fully understand the risks of investment. This Product is not protected by the Financial Services Compensation Scheme or any other government or private protection scheme. THE PERFORMANCE OF SHARES IS UNPREDICTABLE. It depends on financial, political, economic and other events as well as the share issuers earnings, market position, risk situation, shareholder structure and distribution policy. THE SHARE ISSUER IS NOT INVOLVED IN THE PRODUCT. It may take actions that adversely affect the value and performance of the Product. YOU MAY BE DELIVERED UNDERLYING SHARES. Where physical delivery applies, you may be physically delivered underlying shares on redemption. The realisable value of these shares may be less than your original investment or the notional value of the Product at redemption. Settlement risks include failure or delay in delivery by the custodian or clearing system.

NO ADVICE THIRD PARTY INFORMATION PUBLIC OFFERINGS AND FEE DISCLOSURE CONFIDENTIALITY PRIVATE INFORMATION REGULATORY DISCLOSURE NO LIABILITY ABOUT BARCLAYS COPYRIGHT MARKET DISRUPTION SECONDARY MARKET CREDIT RISK CREDIT RATINGS VOLATILITY STRUCTURED PRODUCTS INTEREST RATE RISK NO DIRECT CLAIM IN UNDERLYING ASSETS TAX INTERACTION RISK OTHER RISKS NO GOVERNMENT OR OTHER PROTECTION PERFORMANCE OF SHARES SHARE ISSUER ACTION PHYSICAL DELIVERY

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