diff --git a/src/courseware/course/sequence/Unit.jsx b/src/courseware/course/sequence/Unit.jsx
index 17bce39e..7a2e785a 100644
--- a/src/courseware/course/sequence/Unit.jsx
+++ b/src/courseware/course/sequence/Unit.jsx
@@ -18,6 +18,7 @@ import { processEvent } from '../../../course-home/data/thunks';
 import { fetchCourse } from '../../data/thunks';
 
 const LockPaywall = React.lazy(() => import('./lock-paywall'));
+const LockPaywallValuePropExperiment = React.lazy(() => import('./lock-paywall-value-prop'));
 
 /**
  * We discovered an error in Firefox where - upon iframe load - React would cease to call any
@@ -66,6 +67,14 @@ function Unit({
   const [iframeHeight, setIframeHeight] = useState(0);
   const [hasLoaded, setHasLoaded] = useState(false);
   const [modalOptions, setModalOptions] = useState({ open: false });
+  const [rev1512ValuePropExperimentLock, setRev1512ValuePropExperimentLock] = useState(
+    window.rev1512ValuePropExperimentLock,
+  );
+  /* TODO: The code block below + code referencing it should be deleted after REV1512 value prop experiment */
+  window.rev1512ToggleValuePropPaywallLock = () => {
+    window.rev1512ValuePropExperimentLock = !rev1512ValuePropExperimentLock;
+    setRev1512ValuePropExperimentLock(!rev1512ValuePropExperimentLock);
+  };
 
   const unit = useModel('units', id);
   const course = useModel('courses', courseId);
@@ -125,9 +134,9 @@ function Unit({
             />
           )}
         >
-          <LockPaywall
-            courseId={courseId}
-          />
+          {(rev1512ValuePropExperimentLock)
+            ? <LockPaywallValuePropExperiment courseId={courseId} />
+            : <LockPaywall courseId={courseId} />}
         </Suspense>
       )}
       {!hasLoaded && (
diff --git a/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.jsx b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.jsx
new file mode 100644
index 00000000..19893d99
--- /dev/null
+++ b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.jsx
@@ -0,0 +1,235 @@
+/* TODO: This file should be deleted after REV1512 value prop experiment */
+import React from 'react';
+import PropTypes from 'prop-types';
+import { FontAwesomeIcon } from '@fortawesome/react-fontawesome';
+import { faLock } from '@fortawesome/free-solid-svg-icons';
+import { faCheckCircle } from '@fortawesome/free-regular-svg-icons';
+import {
+  injectIntl, getLocale,
+} from '@edx/frontend-platform/i18n';
+import { Button } from '@edx/paragon';
+import classNames from 'classnames';
+
+import VerifiedCert from '../../../../generic/assets/edX_verified_certificate.png';
+import { useModel } from '../../../../generic/model-store';
+import './LockPaywall.scss';
+
+function LockPaywall({
+  courseId,
+}) {
+  const course = useModel('courses', courseId);
+  const {
+    verifiedMode,
+  } = course;
+  if (!verifiedMode) {
+    return null;
+  }
+  const {
+    currencySymbol,
+    price,
+    upgradeUrl,
+  } = verifiedMode;
+
+  const isSpanish = getLocale() === 'es-419';
+
+  let upgradeButtonText;
+
+  if (document.querySelector('.price.discount') !== null) {
+    let discountPrice = document.querySelector('.price.discount').textContent;
+    if (discountPrice !== null) {
+      discountPrice = discountPrice.replace(/[^0-9.]/g, '');
+    }
+
+    if (isSpanish) {
+      upgradeButtonText = (
+        <>
+          <span className="font-weight-bold" style={{ paddingRight: '5px' }}>
+            Cómpralo por {currencySymbol}{discountPrice}
+          </span>
+          <span style={{ textDecoration: 'line-through' }}>
+            ({currencySymbol}{price})
+          </span>
+        </>
+      );
+    } else {
+      upgradeButtonText = (
+        <>
+          <span className="font-weight-bold" style={{ paddingRight: '5px' }}>
+            Upgrade for {currencySymbol}{discountPrice}
+          </span>
+          <span style={{ textDecoration: 'line-through' }}>
+            ({currencySymbol}{price})
+          </span>
+        </>
+      );
+    }
+  } else if (isSpanish) {
+    upgradeButtonText = (
+      <>
+        <span className="font-weight-bold" style={{ paddingRight: '5px' }}>
+          Cómpralo por {currencySymbol}{price}
+        </span>
+      </>
+    );
+  } else {
+    upgradeButtonText = (
+      <>
+        <span className="font-weight-bold" style={{ paddingRight: '5px' }}>
+          Upgrade for {currencySymbol}{price}
+        </span>
+      </>
+    );
+  }
+
+  const circleCheckIcon = (
+    <FontAwesomeIcon
+      icon={faCheckCircle}
+      className="float-left mt-1"
+      fixedWidth
+      aria-hidden="true"
+      title="icon"
+      style={{ marginRight: '15px' }}
+    />
+  );
+  const verifiedCertificateLink = (
+    <b>
+      <a
+        className="text-gray-700 value-prop-verified-certificate-link"
+        style={{ textDecoration: 'underline' }}
+        href="https://www.edx.org/verified-certificate"
+      >
+        { (isSpanish) ? 'certificado verificado' : 'verified certificate' }
+      </a>
+    </b>
+  );
+
+  const userAgent = typeof window.navigator === 'undefined' ? '' : navigator.userAgent;
+  const isMobile = Boolean(
+    userAgent.match(/Android|BlackBerry|iPhone|iPad|iPod|Opera Mini|IEMobile|WPDesktop/i),
+  );
+
+  return (
+    <div className="border border-gray d-flex justify-content-between mt-2 p-3 value-prop-lock-paywall-banner">
+      <div className={classNames({ 'is-mobile': isMobile })}>
+        <div className="font-weight-bold top-banner-text-header">
+          <FontAwesomeIcon icon={faLock} className="text-black mr-2 ml-1 lock-icon" style={{ fontSize: '1rem' }} />
+          <span>
+            {
+              isSpanish
+                ? 'Las tareas calificadas están bloqueadas'
+                : 'Graded assignments are locked'
+            }
+          </span>
+        </div>
+        <div className="font-weight top-banner-text">
+          {
+            isSpanish
+              ? 'Cámbiate a la opción verificada para obtener acceso a funciones bloqueadas como esta y aprovechar al máximo tu curso.'
+              : 'Upgrade to gain access to locked features like this one and get the most out of your course.'
+          }
+        </div>
+
+        <div className={classNames('mb-0', { 'd-flex': !isMobile })}>
+          <div className="certificate-image-banner-container">
+            <img
+              alt="Example Certificate"
+              src={VerifiedCert}
+              className="border-0 certificate-image-banner"
+            />
+          </div>
+          <div style={{ float: 'left', paddingLeft: '18px', paddingBottom: '24px' }}>
+            <div style={{ paddingBottom: '10px' }}>
+              {
+                isSpanish
+                  ? 'Cuando te cambias a la opción verificada, tú:'
+                  : 'When you upgrade, you:'
+              }
+            </div>
+
+            <div className="list-item-row">
+              <div className="check-circle-icon-wrapper">{circleCheckIcon}</div>
+              <div className="list-item-wrapper">
+                <span>
+                  {
+                      isSpanish
+                        ? <>Obtén un {verifiedCertificateLink} de finalización para compartirlo en tu currículum</>
+                        : <>Earn a {verifiedCertificateLink} of completion to showcase on your resume</>
+                    }
+                </span>
+              </div>
+            </div>
+
+            <div className="list-item-row">
+              <div className="check-circle-icon-wrapper">{circleCheckIcon}</div>
+              <div className="list-item-wrapper">
+                {
+                  isSpanish
+                    ? 'Desbloquea el acceso a todas las actividades del curso, incluidas las '
+                    : 'Unlock access to all course activities, including '
+                }
+                <span className="font-weight-bold">
+                  {
+                    isSpanish
+                      ? 'tareas calificadas'
+                      : 'graded assignments'
+                  }
+                </span>
+              </div>
+            </div>
+
+            <div className="list-item-row">
+              <div className="check-circle-icon-wrapper">{circleCheckIcon}</div>
+              <div className="list-item-wrapper">
+                <span className="font-weight-bold">
+                  {
+                    isSpanish
+                      ? 'Acceso completo'
+                      : 'Full access'
+                  }
+                </span>
+                {
+                  isSpanish
+                    ? ' al contenido y los materiales del curso, incluso después de que finalice el curso'
+                    : ' to course content and materials, even after the course ends'
+                }
+              </div>
+            </div>
+
+            <div className="list-item-row">
+              <div className="check-circle-icon-wrapper">{circleCheckIcon}</div>
+              <div className="list-item-wrapper">
+                {
+                  isSpanish
+                    ? 'Apoya nuestra '
+                    : 'Support our '
+                }
+                <span className="font-weight-bold">
+                  {
+                    isSpanish
+                      ? 'misión sin fines de lucro'
+                      : 'non-profit mission'
+                  }
+                </span>
+                {
+                  isSpanish
+                    ? ' en edX'
+                    : ' at edX'
+                }
+              </div>
+            </div>
+          </div>
+        </div>
+
+        <div className="value-prop-upgrade-button-container">
+          <Button variant="primary" href={upgradeUrl} className="value-prop-lock-paywall-upgrade-link">
+            {upgradeButtonText}
+          </Button>
+        </div>
+      </div>
+    </div>
+  );
+}
+LockPaywall.propTypes = {
+  courseId: PropTypes.string.isRequired,
+};
+export default injectIntl(LockPaywall);
diff --git a/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.scss b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.scss
new file mode 100644
index 00000000..336914b6
--- /dev/null
+++ b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.scss
@@ -0,0 +1,69 @@
+/* TODO: This file should be deleted after REV1512 value prop experiment */
+.value-prop-lock-paywall-banner {
+    background-color: #f8f9fa;
+
+    .list-item-row {
+        display: flex;
+        margin-left: -7px;
+    }
+    .certificate-image-banner {
+        width: 166px;
+        height: 119px;
+        margin-top: 3px;
+    }
+    .certificate-image-banner-container {
+        display: inline-block;
+        float: left;
+        padding-left: 20px;
+        flex-shrink: 0;
+    }
+    .top-banner-text {
+        margin-bottom: 16px;
+        padding-left: 20px;
+    }
+    .top-banner-text-header {
+        padding-left: 20px;
+    }
+    .value-prop-upgrade-button-container {
+        padding-left: 20px;
+    }
+    .is-mobile {
+        padding-top: 10px;
+
+        .certificate-image-banner-container {
+            text-align: center;
+            display: block;
+            float: none;
+            padding-left: 0px;
+        }
+        .certificate-image-banner {
+            width: 180px;
+            height: 128px;
+            margin-top: 3px;
+            margin-bottom: 5px;
+        }
+        .top-banner-text-header {
+            margin-left:36px;
+            position: relative;
+            padding-left: 10px;
+        }
+        .top-banner-text {
+            margin-left:36px;
+            margin-bottom: 4px;
+            position: relative;
+            padding-left: 10px;
+        }
+        .lock-icon {
+            position: absolute;
+            left: -28px;
+            top: 4px;
+        }
+        .value-prop-upgrade-button-container {
+            text-align: center;
+            padding-bottom: 20px;
+            padding-top: 20px;
+            padding-left: 0px;
+        }
+    }
+}
+
diff --git a/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.test.jsx b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.test.jsx
new file mode 100644
index 00000000..2666f96c
--- /dev/null
+++ b/src/courseware/course/sequence/lock-paywall-value-prop/LockPaywall.test.jsx
@@ -0,0 +1,40 @@
+/* TODO: This file should be deleted after REV1512 value prop experiment */
+import React from 'react';
+import { Factory } from 'rosie';
+import { initializeTestStore, render, screen } from '../../../../setupTest';
+import LockPaywall from './LockPaywall';
+
+describe('Lock Paywall', () => {
+  let store;
+  const mockData = {};
+
+  beforeAll(async () => {
+    store = await initializeTestStore();
+    const { courseware } = store.getState();
+    mockData.courseId = courseware.courseId;
+  });
+
+  it('displays message along with lock icon', () => {
+    const { container } = render(<LockPaywall {...mockData} />);
+
+    const lockIcon = container.querySelector('svg');
+    expect(lockIcon).toHaveClass('fa-lock');
+    expect(lockIcon.parentElement).toHaveTextContent('Graded assignments are locked');
+  });
+
+  it('displays unlock link with price', () => {
+    const { currencySymbol, price, upgradeUrl } = store.getState().models.courses[mockData.courseId].verifiedMode;
+    render(<LockPaywall {...mockData} />);
+
+    const upgradeLink = screen.getByRole('link', { name: `Upgrade for ${currencySymbol}${price}` });
+    expect(upgradeLink).toHaveAttribute('href', `${upgradeUrl}`);
+  });
+
+  it('does not display anything if course does not have verified mode', async () => {
+    const courseMetadata = Factory.build('courseMetadata', { verified_mode: null });
+    const testStore = await initializeTestStore({ courseMetadata, excludeFetchSequence: true }, false);
+    const { container } = render(<LockPaywall {...mockData} courseId={courseMetadata.id} />, { store: testStore });
+
+    expect(container).toBeEmptyDOMElement();
+  });
+});
diff --git a/src/courseware/course/sequence/lock-paywall-value-prop/index.js b/src/courseware/course/sequence/lock-paywall-value-prop/index.js
new file mode 100644
index 00000000..5fd12427
--- /dev/null
+++ b/src/courseware/course/sequence/lock-paywall-value-prop/index.js
@@ -0,0 +1,2 @@
+/* TODO: This file + folder should be deleted after REV1512 value prop experiment */
+export { default } from './LockPaywall';
diff --git a/src/courseware/course/sequence/lock-paywall/LockPaywall.jsx b/src/courseware/course/sequence/lock-paywall/LockPaywall.jsx
index 212a100c..68175d5f 100644
--- a/src/courseware/course/sequence/lock-paywall/LockPaywall.jsx
+++ b/src/courseware/course/sequence/lock-paywall/LockPaywall.jsx
@@ -35,7 +35,7 @@ function LockPaywall({
         <p className="mb-0">
           <span>{intl.formatMessage(messages['learn.lockPaywall.content'])}</span>
           &nbsp;
-          <a href={upgradeUrl}>
+          <a className="lock_paywall_upgrade_link" href={upgradeUrl}>
             {intl.formatMessage(messages['learn.lockPaywall.upgrade.link'], {
               currencySymbol,
               price,