野村控股美股招股说明书(2025-10-16版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sellnor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Filed Pursuant to Rule424(b)(2)Registration Statement Nos. 333-273353333-273353-01 SUBJECT TO COMPLETION. DATED October15, 2025 PRICING SUPPLEMENT TO THE PROSPECTUS DATED JULY 20, 2023 AND THE PRODUCT PROSPECTUSSUPPLEMENT DATED FEBRUARY 29, 2024 US$Nomura America Finance, LLCSenior Global Medium-Term Notes, SeriesAFully and Unconditionally Guaranteed by Nomura Holdings,Inc. Autocallable Contingent Coupon Barrier Notes Linked to the ClassA Common Stock of Palantir Technologies Inc. due November2, 2028 ·Nomura America Finance, LLC is offering the autocallable contingent coupon barrier notes linked to the class A common stock of Palantir Technologies Inc.(the “reference asset”) due November2, 2028 (the “notes”) described below. The notes are unsecured securities. All payments on the notes are subject to ourcredit risk and that of the guarantor of the notes, Nomura Holdings,Inc.·Quarterly contingent coupon payments at a rate of at least 4.875% (equivalent to at least 19.50% per annum) (to be determined on the trade date), payable ifthe closing value of the reference asset on the applicable coupon observation date is greater than or equal to 60% of the initial value.·Callable quarterly at the principal amount plus the applicable contingent coupon on any call observation date on or after April29, 2026 if the closing valueof the reference asset is at or above its call barrier level.·If the notes are not called and the reference asset declines by more than 40%, there is full exposure to declines in the reference asset, and you will lose all ora portion of your principal amount at maturity.·Approximately a three year maturity, if not called.·The notes will not be listed on any securities exchange.·The notes are not ordinary debt securities, and you should carefully consider whether the notes are suited to your particular circumstances. Investing in the notes involves significant risks, including our and Nomura’s credit risk. You should carefully consider the risk factors under “AdditionalRisk Factors Specific to Your Notes” beginning on pagePS-6of this pricing supplement, under “Risk Factors” beginning on page6 in the accompanyingprospectus, under “Additional Risk Factors Specific to the Notes” beginning on pagePS-18 of the accompanying product prospectus supplement, and anyrisk factors incorporated by reference into the accompanying prospectus before you invest in the notes. The estimated value of your notes at the time the terms of your notes are set on the trade date (as determined by reference to pricing models used byNomura Securities International,Inc.) is expected to be between $898.10 and $928.10 per $1,000 principal amount, which is expected to be less than theprice to public. We expect delivery of the notes will be made against payment therefor on or about the original issue date specified below. The notes will be our unsecured obligations. We are not a bank, and the notes will not constitute deposits insured by the U.S. Federal Deposit InsuranceCorporation or any other governmental agency or instrumentality. Nomura Securities International,Inc., acting as the distribution agent, will purchase the notes from us at the price to the public less the agent’s commission.The price to public, agent’s commission and proceeds to issuer listed above relate to the notes we sell initially. We may decide to sell additional notes after thetrade date but prior to the original issue date, at a price to public, agent’s commission and proceeds to issuer that differ from the amounts set forth above, but theagent’s commission will not exceed the amount set forth above and the proceeds to issuer will not be less than the amount set forth above. Certain dealers whopurchase the notes for sale to certain fee-based advisory accounts may forgo some or all of their selling concessions, fees or commissions. We will use this pricing supplement in the initial sale of the notes. In addition, Nomura Securities International,Inc. or another of our affiliates may use thefinal pricing supplement in market-making transactions in the notes after their initial sale.Unless we or our agent informs the purchaser otherwise in theconfirmation of sale, the final pricing supplement is being used in a market-making transaction. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon theaccuracy or adequacy of this pricing supplement. Any representation to the contrary is a criminal offense. Nomura October, 2025 ADDITIONAL INFORMATION You should read this pricing supplement together with the prospectus, dated July20, 2023 (the “prospectus”), and the product prospectus supplement, datedFebruary29,