Private Credit

Supply Chain Financing I.B

Annual interest3

Final term

5 months

Per the amended marketing rules adopted by the SEC, some investment details can only be shown to certain logged-in members.

Status

Fully repaid

Recently funded

Accepting $15,000 - $500,000 investments

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Accepting $15,000 - $500,000 investments

Overview

This is an opportunity to invest in the same supply chain financing program with the same multi-billion dollar conglomerate offered to investors in Supply Chain Financing I. The conglomerate seeking additional financing consists of leading manufacturers and distributors to the global consumer goods industry. The conglomerate is a multi-billion dollar revenue and 10%+ EBITDA margin business and is rated B-/B3 (stable) by one of the three leading rating agencies.

The expansion of the conglomerate’s supply chain financing facility is expected to enable them to support revenue growth and fill orders on time. Yieldstreet’s participation in the transaction has enabled more than 30 of the conglomerate’s suppliers to get paid immediately. The conglomerate has an obligation to pay the full amount of the invoices to Yieldstreet on the maturity date of May 19, 2021. Investors can expect to earn a target 9% annualized interest rate for this short-term investment.

The originator of this financing opportunity, Raistone Capital, has commited up to ~$135M for this supply chain financing program of which ~$44.7M has been funded by Yieldstreet’s participation, with the remaining amount funded by participations from several institutional investors. Since inception of this supply chain financing program, over $150M has been paid to suppliers and repaid by the conglomerate in full and on time. Yieldstreet’s earlier participation in this program continues to perform in line with expectations.

Principal and interest are scheduled to be paid to Yieldstreet investors at maturity.

Important Notes

• Learn more about supply chain financing programs here.

• This investment is an opportunity to invest in the same supply chain financing program with the same multi-billion dollar conglomerate offered to investors in Supply Chain Financing I.

Yield

Yieldstreet fee

Target net yield

Interest Type

Actual 360

Schedule

Payment schedule

At Maturity

Prefunded

Yes

Maturity

Date

Maturity

May 19, 2021

Structure

Tax document

1099-INT

Offering structure

BPDN

Expenses

First year expense

$35

Annual flat expense

Slide 1 of 3

Yield
Yieldstreet fee
1%
Target net yield
9%
Interest Type
Actual 360
Schedule
Payment schedule
At Maturity
Prefunded
Yes
Maturity
Date
Maturity
May 19, 2021
Structure
Tax document
1099-INT
Offering structure
BPDN
Expenses
First year expense
$35
Annual flat expense
$0

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Essentials

Please refer to the Series Note Supplement for more details about this offering.

Capital Structure

Where does Yieldstreet lie in terms of priority?

Repayments to Yieldstreet are unsecured and will be made out of cash flow from the conglomerate in their ordinary course of business like other trade payables. The conglomerate is a borrower under a working capital revolving credit facility and the revolving credit lender has a lien on all of the conglomerate’s assets.

Cash Flow

How do I get paid?

You can expect to receive a single principal and interest payment at a target annualized interest rate of 9% at maturity.

Assets

What is the repayment obligation underlying the transaction?

The primary sources of repayment are the conglomerate’s cash flow from operations and advances under their revolving line of credit. The conglomerate has confirmed receipt of the goods from their suppliers and has issued an Irrevocable Payment Undertaking (“IPU”), which obligates it to pay the full amount of the invoices without any reduction, setoff, or counterclaim on May 19, 2021. The repayment obligation is unsecured.

Total gross amount of the payments due to Yieldstreet under the IPU is $19,810,770.22. This amount will cover principal, interest and fees.

Highlights

Experienced Originator

Conglomerate Payment Obligation

Approved Supplier Invoices

Experienced Conglomerate

Raistone combines deep trade finance expertise with access to bank and non-bank capital to create a set of flexible trade finance capabilities that enable companies of all sizes to improve their cash cycle and access incremental sources of non-debt working capital. Raistone maintains over $2B of investable pipeline and its portfolio consists of a diverse risk/yield mix across 12 different industries.
The conglomerate has issued an IPU that obligates it to make payment in full on the maturity date of May 19, 2021. The conglomerate has been successfully running supply chain finance programs with its suppliers for over a year with no defaults and over $150M in on time performance.
All invoices were approved by the conglomerate and Raistone in order to be eligible for the supply chain financing. Raistone then acquired the approved accounts receivable from the suppliers at a discounted purchase price and the conglomerate agreed to pay the invoices in 176 days from the date of purchase by Raistone. In addition, Raistone filed UCC financing statements, where applicable, on the accounts receivable acquired from the suppliers as supplementary protection against any other creditors of the suppliers claiming an interest in the same receivables.
The conglomerate’s management team has a proven track record of growing revenue and generating operating cash flow sufficient to service debts and trade payments. The conglomerate has been in business for decades and has built and sustained growing long-term relationships with both customers and suppliers around the globe. The conglomerate’s most recent rating was B-/B3 (stable) by one of the three leading rating agencies.

Resources

This offering page describes only certain aspects of the offering ("Offering") of the securities issued by YS AltNotes I LLC ("Issuer"). The Offering is made only by means of the Private Placement Memorandum dated January 14, 2022 and the Series Note Supplement relating to the Offering (collectively, the "Offering Documents"). The information on this offering page is a summary of the Offering, does not purport to be complete and should not be considered a part of the Offering Documents, or as incorporated in the Offering Documents by reference or as forming the basis of the Offering. No person has been authorized to give any information or to make any representations other than those contained in the Offering Documents or in any marketing or sales literature issued by the Issuer or Yieldstreet Management, LLC, as adviser thereto, and referred to in the Offering Documents, and, if given or made, such information or representations must not be relied upon. All investors must read the Offering Documents in their entirety prior to investing in the securities.

Investing in private markets and alternatives, such as this offering, is speculative and involves a risk of loss, and those investors who cannot afford to lose their entire investment should not invest. Returns are not guaranteed.

¹ Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.

² Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]

³ "Annual interest," "Annualized Return" or "Target Returns" represents a projected annual target rate of interest or annualized target return, and not returns or interest actually obtained by fund investors. “Term" represents the estimated term of the investment; the term of the fund is generally at the discretion of the fund’s manager, and may exceed the estimated term by a significant amount of time. Unless otherwise specified on the fund's offering page, target interest or returns are based on an analysis performed by Yieldstreet of the potential inflows and outflows related to the transactions in which the strategy or fund has engaged and/or is anticipated to engage in over the estimated term of the fund. There is no guarantee that targeted interest or returns will be realized or achieved or that an investment will be successful. Actual performance may deviate from these expectations materially, including due to market or economic factors, portfolio management decisions, modelling error, or other reasons.

⁴ Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.

⁵ Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.

⁶ The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments, excluding our Short Term Notes program, weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including July 18th, 2022, after deduction of management fees and all other expenses charged to investments.

⁷ Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.

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