iPath<sup class="product">®</sup> EUR/USD Exchange Rate ETN

iPath^® EUR/USD Exchange Rate ETN (ERO)

The EUR/USD exchange rate is a foreign exchange spot rate that measures the relative values of two currencies, the euro and the U.S. dollar. When the euro appreciates relative to the U.S. dollar, the EUR/USD exchange rate (and the value of the Securities) increases; when the euro depreciates relative to the U.S. dollar, the EUR/USD exchange rate (and the value of the Securities) decreases. The EUR/USD exchange rate is expressed as a rate that reflects the number of U.S. dollars that can be exchanged for one euro in the interbank market for settlement in two days. Effective December 18, 2008 the EUR/USD exchange rate will be the rate reported each day on Bloomberg screen EURUSD WMCO Curncy <GO> at approximately 4:00 p.m., London time, or any successor page.

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Index Components

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Returns
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Product Data (as of 02/02/2012)

Daily Indicative Value†	$51.24
Shares Outstanding	94,709
Market Capitalization*	$4,852,889

† Source: Barclays Bank PLC. The "Daily Indicative value" is historical, does not guarantee future performance, and is shown for illustrative purposes only. The issuer or an affiliate will provide the official Redemption Value to the redeeming holder in advance of any redemption. See additional information below.

* Market Capitalization = Daily Indicative Value x Shares Outstanding

Market Data (as of 02/02/2012)

Closing Price	$51.15
Net Change	$0.12
% Change	0.24%

High	$51.15
Low	$51.15
Volume	100
20-Day Volume Average	230

Profile

Primary Exchange	NYSE Arca
Ticker	ERO
Intraday Indicative Value Ticker	ERO.IV
Bloomberg ETN Keystroke	EURUSD WMCO Curncy <GO>
Bloomberg Index Ticker	EURUSD WMCO

Yearly Fee	0.40%¹
Deposit Rate	EONIA-25 bps²
CUSIP	06739F184
Inception Date	05/08/2007
Maturity Date	05/14/2037

Returns (as of 01/31/2012)

	1 mo.	3 mo.	6 mo.	YTD	1 Yr.	3 Yr.	5 Yr.	10 Yr.	Since Note Incept.
EUR/USD Index Factor	0.85%	-6.06%	-8.66%	0.85%	-3.94%	1.10%	1.86%	6.33%	0.81%
iPath Indicative Value Return	0.83%	-6.26%	-8.99%	0.83%	-4.41%	0.68%	N/A	N/A	0.39%

Market Price Returns ³ (as of 01/31/2012)

	1 mo.	3 mo.	6 mo.	YTD	1 Yr.	3 Yr.	5 Yr.	10 Yr.	Since Note Incept.
iPath Market Price Return	1.06%	-5.82%	-9.14%	1.06%	-7.93%	0.32%	N/A	N/A	0.35%

Source: BlackRock. Period ending 01/31/2012.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investment, when sold or redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. See additional market price information.

Index Factor Performance ³ (as of 02/02/2012)

Correlations (as of 01/31/2012)

EUR/USD Exchange Rate	1.00
S&P 500 Index	0.56
Barclays Capital U.S. Aggregate Bond Index	0.37
MSCI EAFE Index	0.70
S&P GSCI^® Total Return Index	0.57

Sources: MSCI, Inc., S&P, Barclays Capital, BlackRock. Based on monthly returns, calculated for time period of 01/07-01/12.

Index Returns

Index Returns measure returns over the relevant period using the change in the index level expressed as a percentage from the beginning of the relevant period to the end of the relevant period. Index Returns are for illustrative purposes only and do not represent actual iPath ETN performance. Index Returns do not reflect any management fees, transaction costs, or expenses which would reduce your actual return. Indexes are unmanaged and one cannot invest directly in an index.

Market Returns

Market Returns measure returns over the relevant period using the change in the midpoint of the bid/ask spread at 4:00 pm Eastern time (or the last midpoint of the bid/ask spread prior to 4:00 pm Eastern time) expressed as a percentage from the beginning of the relevant period to the end of the relevant period and do not represent the returns you would receive if you traded at other times. Market Returns do not account for brokerage commissions, which will reduce actual returns.

Indicative Value Returns

The Indicative Value Returns measure the returns over the relevant period using the change in the Indicative Value expressed as a percentage from the beginning of the relevant period to the end of the relevant period and reflect the current investor fee.

Redemption Value

Subject to the notification requirements described in the prospectus, Securities may be redeemed on any redemption date during the term of the Securities. If Securities are redeemed, they will receive a daily redemption value, which is equal to the principal amount per unit times the index factor on the applicable Valuation Date less the investor fee on the applicable Valuation Date. At least 50,000 units⁴ of a particular iPath ETN must be redeemed at one time in order to exercise the right to redeem Securities on any Redemption Date.

A Redemption Date is the third business day following each valuation date. Valuation Date means each business day during the term of the Securities inclusive or, if such date is not a trading day, the next succeeding trading day, not to exceed five business days.

Indicative Value

An intraday "indicative value" meant to approximate the intrinsic economic value of each iPath ETN is calculated and published by Bloomberg or a successor under the respective ticker symbols listed above. Additionally, the Daily Indicative value of each iPath ETN is calculated and posted each trading day to the Indicative Values table above. In connection with iPath ETNs, the term "indicative value" refers to the value at a given time determined based on the following equation:

Indicative Value = Principal Amount per Unit X (Current Index Level / Initial Index Level) - Current Investor Fee

Where:

Principal Amount per Unit = $50

Current Index Level = The most recent published level of the index underlying your iPath ETN as reported by the relevant index sponsor.

Initial Index Level = The level of the relevant index on the inception date.

Current Investor Fee = The most recent daily calculation of the investor fee with respect to an iPath ETN, determined as described above (which, during any trading day, will be the investor fee determined on the preceding calendar day).

The indicative value calculation is provided for reference purposes only. It is not intended as a price or quotation, or as an offer or solicitation for the purchase, sale, redemption or termination of the iPath ETNs, nor do they reflect hedging or transaction costs, credit considerations, market liquidity, or bid-offer spreads. Published index levels from the sponsors of the indices underlying each iPath ETN may occasionally be subject to delay or postponement. Any such delays or postponements will affect the Current Index Level and therefore the indicative value of each iPath ETN. The actual trading price of the iPath ETN may be different from their indicative value.

¹ The investor fee is equal to the Yearly Fee times the principal amount of your securities times the index factor, calculated on a daily basis in the following manner: The investor fee on the inception date will equal zero. On each subsequent calendar day until maturity or early redemption, the investor fee will increase by an amount equal to the Yearly Fee times the principal amount of your securities times the index factor on that day (or, if such day is not a trading day, the index factor on the immediately preceding trading day) divided by 365. The index factor on any given day will be equal to the currency component on that day times the accumulation component on that day.

The accumulation component will be calculated on a daily basis in the following manner: The accumulation component on the inception date will equal one. On each subsequent business day until maturity or early redemption, the accumulation component will equal (1) the accumulation component on the immediately preceding business day times (2) the sum of one plus the product of the deposit rate times the relevant daycount fraction. The daycount fraction on any business day will be the number of calendar days that have elapsed since the immediately preceding business day divided by 365.

² For the iPath ^® EUR/USD Exchange Rate ETN, the deposit rate on any given day will be equal to the European Overnight Index Average, as reported on Reuters page EONIA or any successor page on the immediately preceding business day (the "EONIA"), minus 0.25%. The deposit rate is intended to represent the actual rate that would be paid by a bank on an overnight deposit of euros.

The deposit rate is intended to represent the actual rate that would be paid by a bank on an overnight deposit of euros.

³ Past performance does not guarantee future results. Index Factor performance is for illustrative purposes only and does not represent actual iPath ETNs performance. Index Factor performance returns do not reflect any management fees, transaction costs, or expenses. Indexes are unmanaged and one cannot invest directly in an index. The EUR/USD exchange rate is expressed as a rate that reflects the number of U.S. dollars that can be exchanged for one euro in the interbank market for settlement in two days. Effective December 18, 2008 the EUR/USD exchange rate will be the rate reported each day on Bloomberg screen EURUSD WMCO Curncy <GO> at approximately 4:00 p.m., London time, or any successor page.

⁴ The issuer may from time to time in its sole discretion reduce, in part or in whole, the minimum redemption amount of 50,000 units, applicable to all holders, at the time the reduction becomes effective.

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Commodity	Ticker		Trading Facility	Sector
EUR/USD Exchange Rate	EURUSD WMCO		Interbank Market	Currency
Deposit Rate	EONIA		N/A	Currency

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Privacy Policy

Effective date: May 10, 2006

INTRODUCTION

This Privacy Policy applies to information that visitors transmit to Barclays Bank PLC and/or its affiliates (together, "BBPLC") through this iPath ETN website (the "Site").

BBPLC is committed to your privacy. This Privacy Policy is designed to inform you of what information we collect from you on this Site and how we and our affiliates handle that information.

To put it simply: We will not sell non-public, personal information we collect about you on this Site to anyone. We will store the information using generally accepted encryption and data-storage technology. And we will give you the ability to opt out of our using the information to send you separate online marketing and advertising.

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iPath^® EUR/USD Exchange Rate ETN (ERO)

Index Returns

Market Returns

Indicative Value Returns

Redemption Value

Indicative Value

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Privacy Policy

Effective date: May 10, 2006

INTRODUCTION

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HOW WE USE YOUR PERSONALLY IDENTIFIABLE INFORMATION

LIMITED DISCLOSURE OF YOUR PERSONAL INFORMATION TO THIRD PARTIES

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iPath® EUR/USD Exchange Rate ETN (ERO)

Related Resources

Index Returns

Market Returns

Indicative Value Returns

Redemption Value

Indicative Value

Email this Page

Recipient(s):

Message:

Your Information:

Thank you!

Rate your experience on this site:

Thank you

Privacy Policy

Effective date: May 10, 2006

INTRODUCTION

US ONLY

WHAT WE COLLECT AND WHEN

HOW WE USE YOUR PERSONALLY IDENTIFIABLE INFORMATION

LIMITED DISCLOSURE OF YOUR PERSONAL INFORMATION TO THIRD PARTIES

CHOICE

MORE ON PRIVACY

CHANGES TO THIS POLICY

CONTACT

iPath^® EUR/USD Exchange Rate ETN (ERO)