You will keep all progress made towards Weapon Levels, Challenges, and Customization. In exchange, you will receive an extra Create a Class slot and have access to Prestige Awards. Choose one of three Prestige Awards each time you Prestige.
At this time there are a max of ten prestiges in Multiplayer, but you will be able to go to Level 1000 at the tenth prestige.
Permanent Unlocks Permanently unlock any item that requires level progression. If you have already used an unlock token on the item you will receive an unlock token refund.
Refund All items that require Unlock Tokens will be re-locked and you are refunded all Unlock Tokens to spend again as you see fit. This does not affect Permanent Unlocks.
Fresh Start Completely reset all progress and start from Level 1 as though you never played in Public Match.