Rivian IPO potentially next week. Morgan Stanley is the DSP (IPO) Partner

[eggpaul]

Hopefully someone more knowledgeable will chime in. The email isn't super clear. It definitely makes it sound like you can do the funding after you've "confirmed your allocation." It says the funds need to be transferred "by the payment deadline"... and I don't see what that deadline is. (The allocation confirmation deadline is November 9 at 11:59pm, but it doesn't specify a date/time for the payment deadline.)

I scheduled a transfer just to be safe, because I know there's no way I'd be able to transfer funds via ACH "after 5pm" and "by 11:59pm" that Friday. Hard to imagine that's the case anyway, but I didn't want to risk it.

Agree. I initiated the transfer just in case.

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[Dbeglor]

Agree. I initiated the transfer just in case.

The first of the five disclosure documents you're supposed to read starts off with language that covers this. Stuff about how they can confiscate the shares allocated to your account if you don't pay for them. Thought it was interesting reading it but now makes sense.

So they are giving some leeway to move funds around without missing out.

 

[timesinks]

Did anyone save a copy of the PDF with the program terms when they clicked through that screen setting up the account? We didn't

I'm sure we can get an answer by reading the fine print.

 

[Max]

You can rest assured that since they take every possible opportunity the screw with their preorder holders that they will indeed give their employees time off when they should be requiring overtime!
I mean really! They give some random employee that has been with the company 12 years (not knowing for sure if it would lead anywhere) a chance to be near the front of the line instead of someone that put down $1K at the LA Auto Show in 2018. The nerve of them! No way are they going to be successful by coddling their employees and ignoring the people that put a little refundable money down. Seriously - giving workers time with their families and loved ones is something that should be left to Union shops. You can always find more workers if they don't appreciate that Rivian lets them work there. Nose to the grindstone! The customer always comes first!. Where are their priorities!
/sarcasm (but some may not think it too far from their truth)

She seem to agree with you on company culture:

 

[Pixelshot]

Agree. I initiated the transfer just in case.

Once I got to step 7 it was a dead end. How do I "set up the ACH info" as they say in the video?

 

[Jamuso]

Once I got to step 7 it was a dead end. How do I "set up the ACH info" as they say in the video?

follow up email has the link to do that. My experience was the same.

 

[HimuraMOdo]

Once I got to step 7 it was a dead end. How do I "set up the ACH info" as they say in the video?

There will be another email sent to you once the account is approved and opened.

 

[Pixelshot]

Did anyone save a copy of the PDF with the program terms when they clicked through that screen setting up the account? We didn't

I'm sure we can get an answer by reading the fine print.

I saved it. Here it is:



Directed Share Program Terms and Conditions
I agree that, as security for the payment of any amounts owed to Morgan Stanley or its affiliates by me under this Directed Share Program or otherwise, I grant to Morgan Stanley a first priority continuing security interest in and lien on, and a right of setoff with respect to, all property that is, now or in the future, held, carried or maintained for any purpose in or through my Directed Share Program account (the “Account”). I agree that Morgan Stanley may elect, at any time, with or without notice, to make any debit balance or other obligation related to my Account immediately due and payable.
I further agree that Morgan Stanley may at its discretion hold such property until my debts or obligations to Morgan Stanley are fully satisfied, or Morgan Stanley may sell, assign or deliver all or any part of the securities and other property held in my Account and may apply the proceeds of its liquidation toward the satisfaction of my debts and obligations. I agree to be responsible for all costs and commissions related to such liquidations. In enforcing its security interest, I agree that Morgan Stanley has the discretion to determine which property is to be sold and the order in which it is to be sold. In addition, I agree that Morgan Stanley shall be entitled to apply any dividends, capital gains payments, interest payments or other incoming funds to cover fees or other indebtedness to it.
I agree that Morgan Stanley may also in its sole discretion and without notice to me, to the extent permissible under applicable law and any other governing documents applicable to my Account, terminate or otherwise restrict any or all services rendered under this Account, or close this Account, at any time and for any reason.
Upon the closing of my Account (whether closed at my instruction or at Morgan Stanley’s discretion), I shall bear the sole liability for any depreciation in the value of priced securities in the Account due to market movement. Following closing of my Account, I agree to instruct Morgan Stanley with respect to the disposition of assets remaining in my Account. If, after a reasonable period of time Morgan Stanley has not received my instructions regarding the disposition of the assets remaining in my Account, I agree that Morgan Stanley may, but is not obligated to, liquidate the assets remaining in my Account (regardless of current market conditions) and mail a check to me at the last known address Morgan Stanley has on record for me. The proceeds of any liquidated assets will not earn interest.
These actions may cause me to recognize taxable income or to report losses for tax purposes. I acknowledge that I, and not Morgan Stanley, am responsible for any losses, fees, costs or charges I may incur as a result of the liquidation of the assets remaining in my Account under such circumstances.
If, after my Account has been closed, Morgan Stanley receives any dividends, interest or other payments with respect to assets previously held in my account, I agree that Morgan Stanley may liquidate any such securities and payments so received and mail a check to me at the last known address Morgan Stanley has on record. These terms and conditions will continue to govern matters relating to my Account that arose before my Account was closed or that may arise after the closing of my Account.
Morgan Stanley requests that you provide the name and contact information for a trusted contact person(s) ("Trusted Contact") for your account(s). A Trusted Contact must be an individual over the age of 18 years. If you would like to add one or more Trusted Contacts to your account(s), please visit www.morganstanleyonline.com after you have confirmed your purchase of shares and your account is open. Once logged into your account on www.morganstanleyonline.com this option is available for self-service under Profile + Settings > Account Settings > Trusted Contacts. If you choose to provide Morgan Stanley with
one or more Trusted Contacts, you are authorizing Morgan Stanley, in its discretion , to contact your Trusted Contact(s) and disclose information about you and/or your account(s) in order to address possible financial exploitation, confirm the specifics of your current contact information, health status, and/or the identity of any legal guardian, executor, trustee or holder of a power of attorney or as otherwise permitted by the Rules of the Financial Industry Regulatory Authority. You may remove and/or change any or all of your Trusted Contacts at any time by providing Morgan Stanley with written and signed notice of such changes. Your Trusted Contact(s) will have no trading authority or power of attorney over your account(s) and will not be authorized to make any decisions on your behalf regarding your account(s).

 

[Dbeglor]

First sentence, basically says pay up or we'll take your shit but in confusing legalese. If you want to think of it differently, MS is loaning you the shares with a few days to repay.

I agree that, as security for the payment of any amounts owed to Morgan Stanley or its affiliates by me under this Directed Share Program or otherwise, I grant to Morgan Stanley a first priority continuing security interest in and lien on, and a right of setoff with respect to, all property that is, now or in the future, held, carried or maintained for any purpose in or through my Directed Share Program account (the “Account”).

 

[RayzorBEV]

A: Morgan Stanley bought eTrade, so it would be convenient for many of us if we were able to conduct the transaction from within our existing accounts.

B: what's the cap on how many shares we're allowed to buy through the DSP?

175 shares abd that's what I put down for via Morgan Stanley : )

 

[Bumble1978]

Awaiting Deposit Verification in my bank account for ACH then bring on 11/9 baby! Hope there's 25 shares (of the bajillion available) with my name on 'em. I'm hoping this will be like Amazon or Tesla-level returns a decade down the line. Finally getting in early on a biggie would be effing sweet!

Who agrees that it will likely open higher than the estimated $57-62?!?!

Anyone think less?

 

[DucRider]

Awaiting Deposit Verification in my bank account for ACH then bring on 11/9 baby! Hope there's 25 shares (of the bajillion available) with my name on 'em. I'm hoping this will be like Amazon or Tesla-level returns a decade down the line. Finally getting in early on a biggie would be effing sweet!

Who agrees that it will likely open higher than the estimated $57-62?!?!

Anyone think less?

If it doesn't open higher, it will be deemed a flop.
The question is:
How long before the dip and how deep will it be?

I'm in it for the long haul and will likely be buying additional on the open market from my Roth. Tempting to take some TSLA profit and move it into RIVN

 

[Jarico75]

I'm going to see if I can purchase more through E-Trade.

etrade and morgan stanley are the same company.

 

[R1S Maineiac]

etrade and morgan stanley are the same company.

not for purposes of the DSP. you have to go through their wealth management branch to get the DSP price.

I can buy more shares through e-trade as a retail customer, but not at the IPO price.

 

[stumptown85]

ETrade is now also offering IPO shares. Request is for as much as you want.

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