Jefferies Financial Group Inc美股招股说明书(2026-07-15版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and theaccompanying product supplement, prospectus supplementandprospectus are not an offer to sell these securities and we are not solicitingan offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Subject To Completion, dated July 15, 2026PRICING SUPPLEMENT dated July, 2026(To Product Supplement No. 2 dated May 11, 2026Prospectus Supplement dated May 11, 2026and Prospectus dated May 11, 2026)Jefferies Financial Group Inc. Medium-Term Notes, Series A Market Linked Securities— Auto-Callable with Contingent Coupon with Memory Feature andContingent Downside Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of The Goldman Sachs Group, Inc., theCommon Stock of Citigroup Inc. and the Common Stock of Bank of America Corporation due August 2, 2029 ■Linked to the lowest performing of the common stock of The Goldman Sachs Group, Inc., the common stock of Citigroup Inc. and the commonstock of Bank of America Corporation (each referred to as an “Underlying Stock”)■Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity and are subject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities pay acontingent coupon, whether the securities are automatically called prior to stated maturity and, if they are not automatically called, whether youreceive the face amount of your securities at stated maturity will depend, in each case, on the stock closing price of the lowest performingUnderlying Stock on the relevant calculation day. The lowest performing Underlying Stock on any calculation day is the Underlying Stock that hasthe lowest stock closing price on that calculation day as a percentage of its starting price■Contingent Coupon.The securities will pay a contingent coupon on a quarterly basis until the earlier of stated maturity or automatic call if, and only if, the stock closing price of the lowest performing Underlying Stock on the calculation day for that quarter is greater than or equal to itsthreshold price. If the stock closing price of the lowest performing Underlying Stock on a calculation day is less than its threshold price, you will notreceive any contingent coupon on the related contingent coupon payment date. However, if the stock closing price of the lowest performingUnderlying Stock on one or more calculation days is less than its threshold price and, on a subsequent calculation day, the stock closing price ofthe lowest performing Underlying Stock on that subsequent calculation day is greater than or equal to its threshold price, the securities will pay thecontingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent coupon payments (without interest onamounts previously unpaid). If the stock closing price of the lowest performing Underlying Stock on a calculation day is less than its threshold priceand the stock closing price of the lowest performing Underlying Stock on each subsequent calculation day up to and including the final calculationday is less than its threshold price, you will not receive the unpaid contingent coupon payments in respect of those calculation days. If the stockclosing price of the lowest performing Underlying Stock is less than its threshold price on every calculation day, you will not receive any contingentcoupons throughout the entire term of the securities. The threshold price for each Underlying Stock is equal to 70% of its starting price. Thecontingent coupon rate will be determined on the pricing date and will be at least 14.50% per annum■Automatic Call.If the stock closing price of the lowest performing Underlying Stock on any of the calculation days from January 2027 to April 2029, inclusive, is greater than or equal to its starting price, the securities will be automatically called for the face amount plus a final contingentcoupon payment and any previously unpaid contingent coupon payments■Potential Loss of Principal.If the securities are not automatically called prior to stated maturity, you will receive the face amount at stated maturity if,and only if, the stock closing price of the lowest performing Underlying Stock on the final calculation day is greater than or equal to itsthreshold price. If the stock closing price of the lowest performing Underlying Stock on the final calculation day is less than its threshold price, youwill lose more than 30%, and possibly all, of the face amount of your securities.■If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Underlying Stock from its starting price if its stock closing price on the final calculation day is less than its threshold price, but you w