BARCLAYS BANK PLC Barclays Capital

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the Index should not be taken as an indication of the Reference Assets' or the Index's future
performance during the term of any Note.
Market price risk – Historic performance
The historic price of a Note should not be taken as an indicator of future performance of such Note. It
is not foreseeable whether the market price of a Note will rise or fall.
The Issuer gives no guarantee that the spread between purchase and selling prices is within a certain
range or remains constant.
3. Risks Relating to specific Product Categories
General Risks in respect of Structured Notes
In general, issues of Notes may feature a number of different economic and/or legal elements
including, but not limited to, a combination of different types of interest rates or interest mechanisms
(including, but not limited to, range accrual or target mechanisms), specific redemption mechanisms
(including, but not limited to, an automatic redemption or a target redemption mechanism) or no
periodic payments of interest at all. Notes issued under the Programme may also be structured in a way
whereby payments of interest, if any, and/or redemption is determined by reference to the performance
of one or more index/indices, equity security/equity securities, bond/bonds, commodity/commodities,
currency/currencies, reference interest rate/rates or other security/securities, which may entail
significant risks not associated with similar investments in a conventional debt security.
Next to certain risks described below in relation to specific structures, such risks may include, without
limitation, the following risks:
- that Noteholders may receive no interest at all or that the resulting interest rate will be less than that
payable on a conventional debt security at the same time;
- that the market price of such Notes falls as a result of changes in the market interest rates;
- that the market price of such Note is more volatile than, e.g., prices of Fixed Rate Notes;
- that Noteholders could lose all or a substantial portion of their principal held of these Notes;
- no interest being payable on the Notes in the event that a reference rate increases or decreases
remains outside a pre-determined range throughout an entire interest period; or
- fluctuating interest rate levels making it impossible to determine the yield of the Notes in advance;
Neither the current nor the historical value of the relevant underlying/underlyings should be taken as an
indication of future performance of such underlying/underlyings during the term of any Note.
Index Linked Notes
Index Linked Notes are debt securities which do not provide for predetermined redemption amounts
and/or interest payments but amounts due in respect of principal and/or interest will be dependent upon
the performance of the Index, which itself may contain substantial credit, interest rate or other risks.
The redemption amount and/or interest, if any, payable by the Issuer might be substantially less than
the Issue Price or, as the case may be, the purchase price invested by the Noteholder and may even be
zero in which case the Noteholder may lose his entire investment.
Index Linked Notes are not in any way sponsored, endorsed, sold or promoted by the Index Sponsor or
the respective licensor of the Index and such Index Sponsor or licensor makes no warranty or
representation whatsoever, express or implied, either as to the results to be obtained from the use of the
Index and/or the figure at which the Index stands at any particular time. Each Index is determined,
composed and calculated by its respective Index Sponsor or licensor, without regard to the Issuer or the
Notes. None of the Index Sponsors or licensors is responsible for or has participated in the
determination of the timing of, prices at, or quantities of the Notes to be issued or in determination or
calculation of the equation by which the Notes settle into cash.