Obbligazione Barclay PLC 4% ( US06738KV996 ) in USD

Barclay PLC

100 USD ▲

Regno Unito

US06738KV996 ( in USD )

4% per anno ( pagato 2 volte l'anno)

21/03/2022 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Barclays PLC US06738KV996 in USD 4%, scaduta

1 000 USD

5 296 000 USD

06738KV99

N/A

Barclays PLC è una banca multinazionale britannica che offre una vasta gamma di servizi finanziari a clienti privati, aziende e istituzioni in tutto il mondo.

The Obbligazione issued by Barclay PLC ( United Kingdom ) , in USD, with the ISIN code US06738KV996, pays a coupon of 4% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 21/03/2022

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...
424B2 1 c68974_424b2.htm
CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities Offered
Maximum Aggregate Offering

Amount of Registration Fee(1)
Price

Global Medium-Term Notes, Series A

$5,296,000

$606.92

(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933.

March 2012

Pricing Supplement No. 47
Registration Statement No. 333-169119
Dated March 16, 2012
Filed pursuant to Rule 424(b)(2)
INTEREST RATE STRUCTURED INVESTMENTS
Capped and Floored Fixed-To-Floating Rate Notes due March 21, 2022
Based on 3-Month USD LIBOR
As further described below, interest wil accrue and be payable on the notes quarterly, in arrears, at a rate of (i) Years 1
and 2: 4.00% per annum, (i ) Years 3-5: at a variable rate equal to 3-Month USD LIBOR plus 2.00%, subject to a
minimum interest rate of 2.25% per annum and a maximum interest rate of 5.00% per annum, (i i) Years 6-8: at a
variable rate equal to 3-Month USD LIBOR plus 2.00%, subject to a minimum interest rate of 3.00% per annum and a
maximum interest rate of 6.00% per annum, (iv) Years 9-10: at a variable rate equal to 3-Month USD LIBOR plus
2.00%, subject to a minimum interest rate of 4.00% per annum and a maximum interest rate of 7.00% per annum. Al
payments on the notes, including the repayment of principal, are subject to the creditworthiness of Barclays Bank PLC
and are not, either directly or indirectly, an obligation of any third party.

SUMMARY TERMS

Issuer:
Barclays Bank PLC
Principal amount:
$5,596,000
Issue price:
$1,000 per note
Original trade date:
March 16, 2012
Original issue date:
March 21, 2012
Maturity date:
March 21, 2022
Interest rate type:
Regular Floating Rate
Day count convention:
30/360
Reference asset/Reference
LIBOR (Designated LIBOR Page: Reuters: LIBOR01)
rate:
Index maturity:
3 months
Interest rate:
For each Interest Period commencing on or after the Original Issue Date, to but
excluding March 21, 2014: the Initial Interest Rate
For each Interest Period commencing on or after March 21, 2014, the interest rate
per annum wil be equal to the Reference Rate as determined on the applicable
Interest Determination Date plus the Spread, subject to the applicable Minimum
Interest Rate and applicable Maximum Interest Rate as set forth below.
Initial interest rate:
4.00%
Spread:
2.00%
Maximum interest rate:
From and including March 21, 2014, to but excluding March 21, 2017: 5.00% per
annum
From and including March 21, 2017, to but excluding March 21, 2020: 6.00% per
annum
From and including March 21, 2020, to but excluding the Maturity Date: 7.00% per
annum
1 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...
Minimum interest rate:
From and including March 21, 2014, to but excluding March 21, 2017: 2.25% per
annum
From and including March 21, 2017, to but excluding March 21, 2020: 3.00% per
annum
From and including March 21, 2020, to but excluding the Maturity Date: 4.00% per
annum
Payment at maturity:
The payment at maturity per Note wil be the stated principal amount plus accrued
and unpaid interest. The Notes are not, either directly or indirectly, an obligation of
any third party, and any payment to be made on the Notes, including any payment at
maturity or on any interest payment date, depends on the ability of Barclays Bank
PLC to satisfy its obligations as they come due.
Business day:
New York; London.
Business day convention:
Fol owing, Unadjusted
Interest payment dates:
o Monthly, x Quarterly, o Semi-Annual y, o Annual y,

payable in arrears on the 21st day of each March, June, September and December,
commencing on June 21, 2012 and ending on the Maturity Date.
Interest period:
The initial Interest Period wil begin on, and include, the Original Issue Date and end
on, but exclude, the first Interest Payment Date. Each subsequent Interest Period
wil begin on, and include, the Interest Payment Date for the immediately preceding
Interest Period and end on, but exclude, the next fol owing Interest Payment Date.
The final Interest Period wil end on, but exclude, the Maturity Date.
Interest reset dates:
For each Interest Period commencing on or after March 21, 2014, the first day of
such period.
Interest determination dates:
Two London Business Days prior to the relevant Interest Reset Date.
Settlement:
DTC; Book-entry; Transferable.
Denominations:
Minimum denominations of US$1,000 and integral multiples of US$1,000 thereafter.
CUSIP:
06738KV99
ISIN:
US06738KV996
Listing:
We do not intend to list the Notes on any U.S. securities exchange or quotation
system.
Calculation agent:
Barclays Bank PLC

Commissions and issue price:
Price to Public
Agent's Commissions(1)
Proceeds to Issuer
Per Note
100%
1.75%
98.25%
Total
$5,296,000
$92,680
$5,203,320
2 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

(1)
Barclays Capital Inc. will receive commissions from the Issuer equal to 1.75% of the principal amount of the notes, or $17.50 per $1,000 principal amount,
and may retain all or a portion of these commissions or use all or a portion of these commissions to pay selling concessions or fees to other dealers
including Morgan Stanley Smith Barney LLC.
YOU SHOULD READ THIS DOCUMENT TOGETHER WITH THE RELATED PROSPECTUS SUPPLEMENT AND PROSPECTUS, EACH OF WHICH CAN
BE ACCESSED VIA THE HYPERLINKS BELOW.
Prospectus dated August 31, 2010
Prospectus Supplement dated May 27, 2011
See "Additional Terms of the Notes" on page 3 of this pricing supplement. The Notes will have the terms
specified in the prospectus dated August 31, 2010, the prospectus supplement dated May 27, 2011 and this
pricing supplement. See "Risk Factors" on page 5 of this pricing supplement and "Risk Factors" beginning on
page S-6 of the prospectus supplement for risks related to investing in the Notes.
We may use this pricing supplement in the initial sale of Notes. In addition, Barclays Capital Inc. or another of our
affiliates may use this pricing supplement in market resale transactions in any Notes after their initial sale. Unless we or
our agent informs you otherwise in the confirmation of sale, this pricing supplement is being used in a market resale
transaction.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of the Notes or determined that this pricing supplement is truthful or complete. Any representation
to the contrary is a criminal offense.
Barclays Capital Inc.

March 2012
Page 3
3 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

Capped and Floored Fixed-To-Floating Rate Notes due March 21,

2022
Based on 3-Month USD LIBOR

Additional Terms of the Notes
You should read this pricing supplement together with the prospectus dated August 31, 2010, as supplemented by the
prospectus supplement dated August 31, 2010 relating to our Global Medium-Term Notes, Series A, of which these
Notes are a part. This pricing supplement together with the documents listed below, contain the terms of the Notes and
supersede all prior or contemporaneous oral statements as wel as any other written materials including preliminary or
indicative pricing terms, correspondence, trade ideas, structures for implementation, sample structures, brochures or
other educational materials of ours. You should careful y consider, among other things, the matters set forth in "Risk
Factors" in the prospectus supplement and the index supplement as the Notes involve risks not associated with
conventional debt securities. We urge you to consult your investment, legal, tax, accounting and other advisors in
connection with your investment in the Notes.
You may access these documents on the SEC website at www.sec.gov as fol ows (or if such address has changed, by
reviewing our filings for the relevant date on the SEC website):

·
Prospectus dated August 31, 2010:

http://www.sec.gov/Archives/edgar/data/312070/000119312510201448/df3asr.htm

·
Prospectus supplement dated May 27, 2011:

http://www.sec.gov/Archives/edgar/data/312070/000119312511152766/d424b3.htm
Our SEC file number is 1-10257. As used in this pricing supplement, the "Company," "we," "us," or "our" refers to
Barclays Bank PLC.
The Notes constitute Barclays Bank PLC's direct, unconditional, unsecured and unsubordinated obligations, are not
deposit liabilities and are not insured by the U.S. Federal Deposit Insurance Corporation or any other governmental
agency of the United States, the United Kingdom or any other jurisdiction.
During the first and second years fol owing the original issue date, interest on the Notes wil accrue and be payable on
the Notes quarterly, in arrears, at 4.00% per annum, and thereafter, during the floating interest rate periods, interest on
the Notes wil accrue and be payable on the Notes quarterly, in arrears, at a rate equal to 3-Month USD LIBOR plus the
applicable Spread, subject to the applicable Minimum Interest Rate per annum and the applicable Maximum Interest
Rate per annum. Al payments on the Notes are subject to the creditworthiness of Barclays Bank PLC.

March 2012
Page 4
4 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

Capped Fixed-To-Floating Rate Notes due March 21, 2022

Based on 3-Month USD LIBOR

Risk Factors
An investment in the Notes involves significant risks. You should read the risks summarized below in connection with,
and the risks summarized below are qualified by reference to, the risks described in more detail in the "Risk Factors"
section beginning on page S-6 of the prospectus supplement. We urge you to consult your investment, legal, tax,
accounting and other advisors and to invest in the Notes only after you and your advisors in connection with your
investment in the Notes.

§
Issuer Credit Risk--The Notes are our unsecured debt obligations, and are not, either directly or indirectly, an
obligation of any third party. Any payment to be made on the Notes, including any payment at maturity or on any
interest payment date, depends on our ability to satisfy our obligations as they come due. As a result, the actual
and perceived creditworthiness of Barclays Bank PLC may affect the market value of the Notes and, in the event
we were to default on our obligations, you may not receive any amounts owed to you under the terms of the Notes.

§
Reference Rate / Interest Payment Risk--Because the Interest Rate on the Notes (after the initial period during
which a fixed Initial Interest Rate is payable) is a floating rate, you wil be exposed to risks not associated with a
conventional fixed-rate debt instrument. These risks include fluctuation of the applicable Reference Rate and the
possibility that, for any given Interest Period, you may receive a lesser amount of interest than for one or more prior
Interest Periods. We have no control over a number of matters that may affect interest rates, including economic,
financial and political events that are important in determining the existence, magnitude and longevity of these risks
and their results. In recent years, interest rates have been volatile, and volatility also could be characteristic of the
future. In addition, the floating Interest Rate for the Notes may be less than the floating rate payable on a similar
Note or other instrument of the same maturity issued by us or an issuer with the same or a comparable credit
rating.

§
Maximum Interest Rate--Since a Maximum Interest Rate is specified on the cover page hereof, the Interest Rate
on the Notes for the relevant Interest Periods (on or after any applicable date specified on the cover page hereof)
wil be limited to the specified Maximum Interest Rate. As a result, in the event that the Interest Rate otherwise
calculated for any applicable Interest Period exceeds the Maximum Interest Rate, your interest payment for the
relevant Interest Period wil reflect the Maximum Interest Rate, and you wil lose the benefit of any interest payment
that would have been payable had such Maximum Interest Rate not been applicable.

§
Certain Built-In Costs Are Likely to Adversely Affect the Value of the Notes Prior to Maturity--Although you
wil not receive less than the principal amount of the Notes if you hold the Notes to maturity (subject to Issuer credit
risk), the Original Issue Price of the Notes includes the agent's commission and the cost of hedging our obligations
under the Notes through one or more of our affiliates. As a result, assuming no change in market conditions or any
other relevant factor, the price, if any, at which Barclays Capital Inc. and other affiliates of Barclays Bank PLC wil
be wil ing to purchase Notes from you in secondary market transactions may be lower than the Original Issue Price,
and any sale prior to the Maturity Date could result in a substantial loss to you.

§
Potential Conflicts--We and our affiliates play a variety of roles in connection with the issuance of the Notes,
including hedging our obligations under the Notes. In performing these duties, the economic interests of our affiliates
are potential y adverse to your interests as an investor in the Notes.

In addition, Barclays Wealth, the wealth management division of Barclays Capital Inc., may arrange for the sale of
the Notes to certain of its clients. In doing so, Barclays Wealth wil be acting as agent for Barclays Bank PLC and
may receive compensation from Barclays Bank PLC in the form of discounts and commissions. The role of Barclays
Wealth as a provider of certain services to such customers and as agent for Barclays Bank PLC in connection with
the distribution of the Notes to investors may create a potential conflict of interest, which may be adverse to such
clients. Barclays Wealth is not acting as your agent or investment adviser, and is not representing you in any
5 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...
capacity with respect to any purchase of Notes by you. Barclays Wealth is acting solely as agent for Barclays Bank
PLC. If you are considering whether to invest in the Notes through Barclays Wealth, we strongly urge you to seek
independent financial and investment advice to assess the merits of such investment.

§
Lack of Liquidity--The Notes wil not be listed on any securities exchange. Barclays Capital Inc. and other
affiliates of Barclays Bank PLC intend to make a secondary market for the Notes but are not required to do so, and
may discontinue any such secondary market making at any time, without notice. Even if there is a secondary
market, it may not provide enough liquidity to allow you to trade or sell the Notes easily. Because other dealers are
not likely to make a secondary market for the Notes, the price at which you may be able to trade your Notes is
likely to depend on the price, if any, at which Barclays Capital

March 2012
Page 5
6 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

Capped Fixed-To-Floating Rate Notes due March 21, 2022

Based on 3-Month USD LIBOR

Inc. and other affiliates of Barclays Bank PLC are wil ing to buy the Notes. The Notes are not designed to be
short-term trading instruments. Accordingly, you should be able and wil ing to hold your Notes to maturity.

§
Many Economic and Market Factors Will Impact the Value of the Notes--The value of the Notes wil be
affected by a number of economic and market factors that may either offset or magnify each other, including

o
the time to maturity of the Notes;

o
volatility of the level of the Reference Rate

o
actual or anticipated changes in the level of the Reference Rate

o
interest and yield rates in the market generally;

o
a variety of economic, financial, political, regulatory or judicial events; and

o
our creditworthiness, including actual or anticipated downgrades in our credit ratings.

March 2012
Page 6
7 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

Capped Fixed-To-Floating Rate Notes due March 21, 2022

Based on 3-Month USD LIBOR

Hypothetical Interest Rate and Interest Payment Calculations
As described above, after the initial Interest Periods for which the Initial Interest Rate is payable, the effective per
annum Interest Rate payable on the Notes on each Interest Payment Date wil be a floating rate calculated as described
above. The fol owing il ustrates the process by which the Interest Rate and interest payment amount are determined for
a hypothetical Interest Period where a floating rate applies.
While the steps described below would be fol owed for any Notes issued hereunder, the examples provided below are
for il ustrative purposes only and do not, and do not purport to, describe al payment possibilities for the Notes.
Step 1: Determine the value of the Reference Rate for the Interest Period.
For each Interest Period commencing on or after March 21, 2014, a per annum value for the Reference Rate is
determined on the relevant Interest Reset Date by observing the applicable Reference Rate on the Interest
Determination Date relating to that Interest Reset Date. For further information concerning the Interest Determination
Dates for the Reference Rate, see "Interest Mechanics--How Floating Interest Rates Are Reset" in the prospectus
supplement.
Step 2: Calculate the per annum Interest Rate for the Interest Period by applying the Spread, while taking into
account any Maximum Interest Rate and any Minimum Interest Rate for that Interest Period.
For each Interest Period commencing on or after March 21, 2014, once the Calculation Agent has determined the value
of the Reference Rate, the Calculation Agent wil then determine the per annum Interest Rate for that Interest Period by
first adding the Reference Rate and the Spread and then assessing the sum relative to the applicable Maximum Interest
Rate and the applicable Minimum Interest Rate. The per annum Interest Rate for that Interest Period wil be the sum of
the Reference Rate and the Spread unless such sum is greater than the applicable Maximum Interest Rate or less than
the applicable Minimum Interest Rate.
If the sum of the Reference Rate and the Spread is greater than the applicable Maximum Interest Rate, the per annum
Interest Rate for that Interest Period wil be the applicable Maximum Interest Rate.
If the sum of the Reference Rate and the Spread is less than the applicable Minimum Interest Rate, the per annum
Interest Rate for that Interest Period wil be the applicable Minimum Interest Rate.
The fol owing examples il ustrate how the Interest Rate for the particular Interest Period where a floating rate applies
would be calculated. The fol owing examples assume an applicable Minimum Interest Rate of 3.00% and an applicable
Maximum Interest Rate of 6.00%.

Example 1:
The per annum Interest Rate equals the Reference Rate plus the Spread.
Based on a hypothetical Reference Rate equal to 3.00% and a Spread of 2.00%, the Interest Rate would be equal to
5.00% (the Reference Rate plus the Spread).

Example 2:
The per annum Interest Rate equals the Minimum Interest Rate.
Based on a Minimum Interest Rate of 3.00% (in the applicable interest period), and assuming a hypothetical Reference
Rate equal to 0.50% and a Spread of 2.00%, the Interest Rate (without taking the Minimum Interest Rate into account)
would equal 2.50% (the Reference Rate plus the Spread). However, because of the Minimum Interest Rate of 3.00%,
the per annum Interest Rate for the relevant Interest Period would instead be equal to the Minimum Interest Rate of
8 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...
3.00%.

Example 3:
The per annum Interest Rate equals the Maximum Interest Rate.
Based on a Maximum Interest Rate of 6.00% (in the applicable interest period), and assuming a hypothetical Reference
Rate equal to 5.00% and a Spread of 2.00%, the Interest Rate (without taking the Maximum Interest Rate into account)
would equal 7.00% (the Reference Rate plus the Spread). However, because of the Maximum Interest Rate of 6.00%,
the per annum Interest Rate for the relevant Interest Period would instead be equal to the Maximum Interest Rate of
6.00%.
Step 3: Calculate the interest payment amount payable for each Interest Payment Date.
For each Interest Period, once the Calculation Agent has determined the applicable per annum Interest Rate, the
Calculation Agent wil calculate the effective interest rate for that Interest Period by multiplying the per annum Interest
Rate determined for that

March 2012
Page 7
9 of 13
3/20/2012 9:47 AM

http://www.sec.gov/Archives/edgar/data/312070/000093041312001657/...

Capped Fixed-To-Floating Rate Notes due March 21, 2022

Based on 3-Month USD LIBOR

Interest Period by the applicable day count fraction. The resulting effective interest rate is then multiplied by the relevant
principal amount of the Notes to determine the actual interest amount payable on the related Interest Payment Date.
Reference Rate
"LIBOR" as described in the accompanying prospectus supplement section entitled "Reference Assets--LIBOR" with an
index maturity of 3 months and an index currency of U.S. dol ars and as displayed on Reuters Page LIBOR01.
Historical Information
The fol owing graph sets forth the historical percentage levels of the Reference Rate for the period from January 1, 2000
to March 16, 2012. The historical levels of the Reference Rate do not reflect the spread that wil apply to the interest
that accrues on the notes for the applicable interest periods during the floating interest rate periods, and should not be
taken as an indication of its future performance. We obtained the information in the graph below from Bloomberg
Financial Markets, without independent verification.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
United States Federal Income Tax Treatment
The fol owing discussion (in conjunction with the discussion in the prospectus supplement) summarizes certain of the
10 of 13
3/20/2012 9:47 AM