Jefferies Financial Group Inc美股招股说明书(2026-03-25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 isnot permitted. PRELIMINARY PRICING SUPPLEMENT(to Product Supplement no. 5, dated October 23, 2023, SUBJECT TO COMPLETION, DATED March 25, 2026 Prospectus Supplement dated May 12, 2023and Prospectus dated May 12, 2023) $Jefferies Jefferies Financial Group Inc.Senior Autocallable Contingent Coupon Barrier Notes due April 22, 2031 Linked to the Worst-Performing of the Dow Jones Industrial Average®, the Russell 2000®Index and the S&P 500®IndexThe Senior Autocallable Contingent Coupon Barrier Notes due April 22, 2031 Linked to the Worst-Performing of the Dow Jones Industrial Average®, the Russell 2000®Index and the S&P Senior Autocallable Contingent Coupon Barrier Notes due April 22, 2031 Linked to the Worst-Performing of the Dow Jones Industrial Average®, theRussell 2000®Index and the S&P 500®Index. We may increase the Aggregate Principal Amount prior to the Original Issue Date but are not required to do so. Title of the Notes: Aggregate Principal Amount:Issue Price:Stated Principal Amount:Pricing Date:Original Issue Date:Coupon Observation Dates: Quarterly, beginning on July 17, 2026, as set forth on page PS-2. The Coupon Observation Dates are subject to postponement as described in theaccompanying product supplement.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 Coupon Payment Dates: the accompanying product supplement.Quarterly, beginning on April 19, 2027, as set forth on page PS-2. The Call Observation Dates are subject to postponement as described in the Call Observation Dates: accompanying product supplement.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 Call Payment Dates: accompanying product supplement.April 17, 2031, subject to postponement as described in the accompanying product supplement. April 22, 2031, which may be postponed if the Valuation Date is postponed as described in the accompanying product supplement. Valuation Date:Maturity Date:Underlying: Worst-Performing Underlying:Coupon Feature: The Underlying with the lowest Observation Value or Final Value, as applicable, as compared to its Initial Value.Contingent Coupon Payments. The Notes will pay a Contingent Coupon Payment of $28.13 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 CouponAutocallable Notes. The Notes will be automatically called if the Observation Value of the Worst-Performing Underlying on any Call Observation Date (beginning approximately one year after the Pricing Date) is equal to or greater than its Call Value. If your Notes are called, you will receivethe Call Payment on the applicable Call Payment 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. Call Feature: Call Payment:Payment at Maturity: 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 AmountIf 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 thefinal Coupon Observation Date is greater than or equal to its Coupon Barrier. Initial Value:Observation Value:Final Value:Coupon Barrier:Call Value:Threshold Value:Specified Currency:CUSIP/ISIN:Book-entry or Certificated Note:Business Day:Agent:Calculation Agent:Trustee:Estimated value on the PricingDate:Use of Proceeds:Listing:Conflict of Interest: With respect to each Underlying, the Index Closing Value of the Underlying on the applicable Coupon Observation Date or Call Observation Date.With respect to each Underlying, the Index Closing Value of the Underlying on the Valuation Date.With respect to each Underlying, 70% of its Initial Value Jefferies LLC, a wholly-owned subsidiary of Jefferies Financial Group Inc. See “Supplemental Plan of Distribution.”Jefferies Financial Services, Inc., a wholly owned subsidiary of Jefferies Financial Group Inc. Approximately $978.40 p