ConvertibleActiveBTC
0% Convertible Notes due 2030
MSTR-Mar30B
$159.09▲ 4.91%
BTC Holdings
843,738 BTC
Total Debt
$18.10B
Leverage
7.3%
mNAV
0.90x
Outstanding
$2.00B
Insufficient history
Issue date
2025-02-24
Principal
$2.00B
Coupon
0.00%
Maturity
2030-03-01
Conversion price
$433.43
ITM Status
OTM (-63.3%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after Mar 5 2027 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Call provision
- On or after Mar 5 2027 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Holders may require repurchase on Mar 1 2028 at par plus accrued interest, or upon fundamental change
- Use of proceeds
- General corporate purposes, including the acquisition of bitcoin and for working capital
Participants
Holders & Underwriters(1)
- Form 8-K (0% convertible …Morgan Stanley & Co. LLCunderwriter$2Bas of 2025-02-24Representative of the several initial purchasers
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2025-02-24 | Issuance | $2.00B |
- 2025-02-24 — $2,000,000,000