杰富瑞金融集团股份有限公司美股招股说明书(2026-01-22版)

The information in this preliminary pricing supplement is not complete and may be changed without notice. This preliminary pricingsupplement is not an offer to sell these securities, nor a solicitation of an offer to buy these securities, in any jurisdiction where the offering is PRELIMINARY PRICING SUPPLEMENT(to Product Supplement no. 5, dated October 23, 2023, Prospectus Supplement dated May 12, 2023and Prospectus dated May 12, 2023) $Jefferies Jefferies Financial Group Inc.Senior Autocallable Contingent Coupon Barrier Notes due January 30, 2032 Linked to the Worst-Performing of the Dow Jones Industrial Average®, the Invesco S&P 500®Equal Weight ETF, the Russell 2000®Index and the EUROSTOXX 50®Index The Senior Autocallable Contingent Coupon Barrier Notes due January 30, 2032 Linked to the Worst-Performing of the Dow Jones Industrial Average®, the Invesco S&P 500®Equal WeightETF, the Russell 2000®Index and the EURO STOXX 50®Index (the “Notes”) are senior unsecured obligations of Jefferies Financial Group Inc. The Notes have the terms described in theaccompanying product supplement, prospectus supplement and prospectus, as supplemented or modified by this pricing supplement. The Notes are issued as part of our Series A Global All payments are subject to our credit risk. If we default on our obligations, you could lose some or a significant portion of your investment. These Notes are not securedobligations and you will not have any security interest in, or otherwise have any access to, any Underlying or the securities represented by any Underlying.SUMMARY OF TERMS Senior Autocallable Contingent Coupon Barrier Notes due January 30, 2032 Linked to the Worst-Performing of the Dow Jones Industrial Average®, the Invesco S&P 500Equal Weight ETF, the Russell 2000®Index and the EURO STOXX 50®Index Original IssueJanuary 30, 2026 (3 Business Days after the Pricing Date) Date: CouponObservationDates:Quarterly, beginning on April 27, 2026, as set forth on page PS-2. The Coupon Observation Dates are subject to postponement as described in the accompanying productsupplement. CouponPayment Dates:As set forth on page PS-2. The Coupon Payment Dates may be postponed if the related Coupon Observation Date is postponed as described in the accompanyingproduct supplement. CallQuarterly, beginning on July 27, 2026, as set forth on page PS-2. The Call Observation Dates are subject to postponement as described in the accompanying product Observationsupplement. As set forth on page PS-2. The Call Payment Dates may be postponed if the related Call Observation Date is postponed as described in the accompanying productsupplement. Dates: Valuation Date:January 27, 2032, subject to postponement as described in the accompanying product supplement.Maturity Date:January 30, 2032, which may be postponed if the Valuation Date is postponed as described in the accompanying product supplement. The worst-performing of the Dow Jones Industrial Average®(the “INDU”), the Invesco S&P 500®Equal Weight ETF (the “RSP”), the Russell 2000®Index (the “RTY”) andthe EURO STOXX 50®Index (the “SX5E”). Please see “The Underlyings” below. Contingent Coupon Payments. The Notes will pay a Contingent Coupon Payment of $22.75 on the applicable Coupon Payment Date if the Observation Value of the Worst-Performing Underlying on the applicable quarterly Coupon Observation Date is greater than or equal to its Coupon Barrier.Autocallable Notes. The Notes will be automatically called if the Observation Value of the Worst-Performing Underlying on any Call Observation Date (beginning Call Feature: approximately six months after the Pricing Date) is equal to or greater than its Call Value. If your Notes are called, you will receive the Call Payment on the applicable CallPayment Date, and no further amounts will be payable on the Notes.The Stated Principal Amount plus any Contingent Coupon Payment that may otherwise be due on the applicable Call Payment Date. If the Final Value of the Worst-Performing Underlying is greater than or equal to its Threshold Value, you will receive for each Note that you hold a Payment at Maturity that is equal to the Stated Principal Amount If the Final Value of the Worst-Performing Underlying is less than its Threshold Value, you will receive for each Note that you hold a Payment at Maturity that is less than the Stated Principal Amount of each Note that will equal: In this scenario the Payment at Maturity will be less than the Stated Principal Amount and you could lose some or all of your investment.The Payment at Maturity will also include the final Contingent Coupon Payment if the Observation Value of the Worst-Performing Underlying on the final CouponObservation Date is greater than or equal to its Coupon Barrier. With respect to theRSP, the ETF Closing Price of the Underlying on the Pricing Date.With respect to each of theINDU, the RTY and the SX5E, the Index Closing Value of the Underlying on the Pricing Date. Wit