Jefferies Financial Group Inc美股招股说明书(2025-12-16版)

1An affiliate of the Issuer will pay a structuring fee of up to $8.00 per Note in connection with the distribution of the Notes to other registered broker-dealers.Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if thispricing supplement or the accompanying product supplement, prospectus or prospectus supplement is truthful or complete.Any representation to the contraryis a criminal offense.As used in this pricing supplement,“we,”“us”and“our”refer to Jefferies Financial Group Inc., unless the context requires otherwise.We will deliver the Notes in book-entry form only through The Depository Trust Company on or about December 17, 2025 against payment in immediately available funds.JefferiesPricing supplement dated December 12, 2025.You should read this pricing supplement together with the related product supplement, prospectus and prospectus supplement, each of which can be accessedvia the hyperlinks below, before you decide to invest.Product Supplement no. 5 dated October 23, 2023Prospectus supplement dated May 12, 2023 and Prospectus dated May 12, 2023 TABLE OF CONTENTS PRICING SUPPLEMENT SPECIAL NOTE ON FORWARD-LOOKING STATEMENTSPS-iiTHE NOTESPS-1HOW THE NOTES WORKPS-4RISK FACTORSPS-6THE UNDERLYINGSPS-11HEDGINGPS-21SUPPLEMENTAL DISCUSSION OF U.S. FEDERAL INCOME TAX CONSEQUENCESPS-22SUPPLEMENTAL PLAN OF DISTRIBUTIONPS-27CONFLICT OF INTERESTPS-32LEGAL MATTERSPS-33EXPERTSPS-34 You should rely only on the information contained in or incorporated by reference in this pricing supplement and theaccompanying product supplement, prospectus and prospectus supplement.We have not authorized anyone to provide youwith different information.We are not making an offer of these securities in any state where the offer is not permitted.Youshould not assume that the information contained in this pricing supplement or the accompanying product supplement,prospectus or prospectus supplement is accurate as of any date later than the date on the front of this pricing supplement. SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS This pricing supplement and the accompanying product supplement, prospectus and prospectus supplement contain or incorporate byreference “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933(the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not statements ofhistorical fact and represent only our belief as of the date such statements are made. There are a variety of factors, many of which arebeyond our control, which affect our operations, performance, business strategy and results and could cause actual reported resultsand performance to differ materially from the performance and expectations expressed in these forward-looking statements. Thesefactors include, but are not limited to, financial market volatility, actions and initiatives by current and future competitors, generaleconomic conditions, controls and procedures relating to the close of the quarter, the effects of current, pending and future legislation orrulemaking by regulatory or self-regulatory bodies, regulatory actions, and the other risks and uncertainties that are outlined in ourAnnual Report on Form 10-K for the fiscal year ended November 30, 2024 filed with the U.S. Securities and Exchange Commission, orthe SEC, on January 28, 2025 (the “Annual Report on Form 10-K”) and in our Quarterly Reports on Form 10-Q for the quarterly periodsended February 28, 2025, May 31, 2025 and August 31, 2025 filed with the SEC on April 9, 2025, July 9, 2025 and October 9, 2025,respectively. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they aremade. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after thedate of the forward-looking statements. THE NOTES The Notes are senior unsecured obligations of Jefferies Financial Group Inc.The Aggregate Principal Amount of the Notes is$4,974,000.The Notes will mature on December 17, 2030.The Notes have the terms described in the accompanying productsupplement, prospectus supplement and prospectus, as supplemented or modified by this pricing supplement.The Notes will pay aContingent Coupon Payment of $19.375 on the applicable Coupon Payment Date if the Observation Value of the Worst-PerformingUnderlying on the applicable quarterly Coupon Observation Date is greater than or equal to its Coupon Barrier.The Notes will beautomatically called if the Observation Value of the Worst-Performing Underlying on any Call Observation Date (beginningapproximately one year after the Pricing Date) is equal to or greater than its Call Value.If your Notes are called, you will receive theCall Payment on the applicable Call Payment Date, and no further amounts will be payable on the