This document is a marketing communication relating to notes issued under the [PROGRAMME NAME] programme. It is intended exclusively for professional investors within the meaning of applicable regulation. It does not constitute an offer to the public, a prospectus, or investment advice, and it may not be distributed to retail investors. The Final Terms and programme documentation prevail over this document in every respect. [Testo legale integrale — componente unico versionato per lingua e regime: private placement EN, variante programma/emissione. Ogni modifica passa dal legale, mai dal copywriter.]
Any yield figures are targets, gross or net as indicated, based on assumptions that may vary; they are not a promise or a guarantee. The notes are illiquid and involve risk of partial or total loss of capital: the YELDO first-loss position absorbs losses only up to its stated size — see the Risk factors section of this document and the full documentation before any commitment. Past performance is not an indicator of future results.
The note is a short term, fixed-income instrument issued by [ISSUER]. Proceeds fund a diversified portfolio of senior and mezzanine tranches of real estate credit deals that YELDO originated, structured and manages. Investors receive quarterly coupons and repayment at maturity, from the cash flows of the portfolio.
YELDO commits [N]% of the issued amount in first-loss position: the first EUR [X] of portfolio losses are ours, before any investor euro is touched. Losses reach the notes only after each deal's margin, sponsor equity and collateral — and then our tranche — are exhausted.
Losses beyond the first-loss tranche are borne by investors, up to total loss of capital. The first-loss is an alignment of interests — our capital positioned to lose first — not a guarantee and not insurance on the notes.
The portfolio holds only deals that passed the full YELDO screening — the same process behind every single-deal offering. Fewer than 3% of screened deals arrive at the final gate.
The notes are illiquid and involve the risk of partial or total loss of capital. The main product-specific risks, each with its mitigant — never the reverse:
Short term notes issued by [ISSUER]. Your exposure is to a portfolio of senior and mezzanine tranches of YELDO deals — not to a single project, and not to YELDO's own balance sheet beyond its first-loss tranche.
From deployment of capital into the portfolio, not from your subscription date. Coupons are paid quarterly, subject to available cash; any gap ("cash drag") is stated in the Final Terms.
YELDO enforces that deal's security package. Losses hit the deal's margin and sponsor equity first, then YELDO's first-loss tranche, then investors. Recovery is not certain and may take months.
No. There is no secondary market: this is a hold-to-maturity instrument. Early repayment can only come from the portfolio itself, if positions repay ahead of plan.
Investor Relations · invest@yeldo.com · [NOME REFERENTE + TELEFONO]
Full documentation — Final Terms, portfolio composition, underlying deal books — available on the platform before any commitment.