Convertibles Calendar: Vertex, Barclays synthetic on deck

April 23

VERTEX INC.

• $250 million five-year convertible notes

• Coupon of 0.75% to 1.25% and initial conversion premium of 27.5% to 32.5%

• Greenshoe of $37.5 million

• Morgan Stanley & Co. LLC

• Rule 144A

• Non-callable until May 5, 2027 and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread and for general corporate purposes

• King of Prussia, Pa.-based indirect tax solutions company

BARCLAYS BANK PLC

• $350 million five-year cash-settled equity-linked notes tied to Eli Lilly Co.

• Fixed coupon of 0.25% and an initial conversion premium of 31%

• Barclays

• SEC registered

• Non-callable

• Barclays is a London-based multinational bank; Eli Lilly is an Indianapolis-based pharmaceutical company

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