[FWP] Jefferies Financial Group Inc. Free Writing Prospectus
Jefferies Financial Group Inc. is offering Market Linked Securities that pay a high contingent income but expose investors to significant downside risk. The $1,000-denomination notes are linked to the worst performer among three sector ETFs—the Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF and SPDR S&P Biotech ETF—and mature on 19 July 2029.
Income mechanics: A monthly coupon of at least 13.40 % per annum is paid only when the lowest-performing ETF closes at or above 70 % of its starting price on the relevant calculation day. Coupons are forfeited in any month the condition is not satisfied.
Automatic call: From January 2026, if on any quarterly observation (Jan/Apr/Jul/Oct) the worst ETF closes at or above its starting price, the note is redeemed early at par plus the final coupon, capping further upside.
Principal risk: If the securities reach final maturity without being called and the worst ETF ends below 70 % of its starting level, repayment is reduced proportionally; investors could lose more than 30 % and up to all principal.
- Estimated initial value: about $949.60, roughly 5 % below the $1,000 offering price, reflecting structuring and distribution costs up to 2.325 %.
- Notes will not be exchange-listed; secondary market liquidity and pricing are uncertain.
- Credit exposure rests solely with Jefferies Financial Group Inc.; JFSI acts as calculation agent.
The securities may appeal to income-oriented investors comfortable with sector concentration, issuer credit risk and full downside participation.
Jefferies Financial Group Inc. offre titoli Market Linked che garantiscono un elevato reddito condizionato ma espongono gli investitori a un rischio significativo di ribasso. Le obbligazioni, denominate in tagli da $1.000, sono collegate alla performance peggiore tra tre ETF settoriali — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF e SPDR S&P Biotech ETF — e scadono il 19 luglio 2029.
Meccanismo del reddito: Un coupon mensile di almeno il 13,40% annuo viene corrisposto solo se l'ETF peggior performer chiude al livello pari o superiore al 70% del prezzo iniziale nel giorno di calcolo pertinente. I coupon sono persi in ogni mese in cui la condizione non viene soddisfatta.
Rimborso automatico: Da gennaio 2026, se in una qualsiasi osservazione trimestrale (gen/apr/lug/ott) l'ETF peggiore chiude al livello pari o superiore al prezzo iniziale, il titolo viene rimborsato anticipatamente a valore nominale più l'ultimo coupon, limitando ulteriori guadagni.
Rischio sul capitale: Se i titoli arrivano a scadenza senza essere richiamati e l'ETF peggiore termina sotto il 70% del livello iniziale, il rimborso viene ridotto proporzionalmente; gli investitori potrebbero perdere più del 30% fino all'intero capitale investito.
- Valore iniziale stimato: circa $949,60, circa il 5% sotto il prezzo di offerta di $1.000, riflettendo costi di strutturazione e distribuzione fino al 2,325%.
- I titoli non saranno quotati in borsa; la liquidità e la formazione dei prezzi sul mercato secondario sono incerte.
- Il rischio di credito è esclusivamente a carico di Jefferies Financial Group Inc.; JFSI agisce come agente di calcolo.
Questi titoli possono interessare investitori orientati al reddito, disposti ad accettare concentrazione settoriale, rischio di credito dell’emittente e piena partecipazione al ribasso.
Jefferies Financial Group Inc. ofrece valores vinculados al mercado que pagan un alto ingreso contingente pero exponen a los inversores a un riesgo significativo a la baja. Los bonos, con denominación de $1,000, están vinculados al peor desempeño entre tres ETFs sectoriales — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF y SPDR S&P Biotech ETF — y vencen el 19 de julio de 2029.
Mecánica de ingresos: Se paga un cupón mensual de al menos 13,40 % anual solo cuando el ETF con peor desempeño cierra en o por encima del 70 % de su precio inicial en el día de cálculo correspondiente. Los cupones se pierden en cualquier mes que no se cumpla esta condición.
Redención automática: Desde enero de 2026, si en alguna observación trimestral (ene/abr/jul/oct) el peor ETF cierra en o por encima de su precio inicial, el bono se redime anticipadamente al valor nominal más el cupón final, limitando ganancias adicionales.
Riesgo de principal: Si los valores llegan a madurez final sin ser llamados y el peor ETF termina por debajo del 70 % de su nivel inicial, el reembolso se reduce proporcionalmente; los inversores podrían perder más del 30 % hasta la totalidad del capital.
- Valor inicial estimado: alrededor de $949,60, aproximadamente un 5 % por debajo del precio de oferta de $1,000, reflejando costos de estructuración y distribución de hasta 2,325 %.
- Los bonos no se cotizarán en bolsa; la liquidez y los precios en el mercado secundario son inciertos.
- La exposición crediticia recae únicamente en Jefferies Financial Group Inc.; JFSI actúa como agente de cálculo.
Estos valores pueden atraer a inversores orientados a ingresos que estén cómodos con concentración sectorial, riesgo crediticio del emisor y participación total en las pérdidas.
Jefferies Financial Group Inc.는 높은 조건부 수익을 제공하지만 투자자에게 상당한 하락 위험을 노출하는 시장 연계 증권을 제공합니다. $1,000 단위로 발행되는 이 노트는 세 개의 섹터 ETF 중 가장 저조한 실적을 보이는 ETF에 연동되며—Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF, SPDR S&P Biotech ETF—2029년 7월 19일에 만기됩니다.
수익 구조: 최저 실적 ETF가 해당 산정일에 시작 가격의 70% 이상으로 마감할 경우에만 연 13.40% 이상의 월별 쿠폰이 지급됩니다. 조건이 충족되지 않은 달에는 쿠폰이 지급되지 않습니다.
자동 상환: 2026년 1월부터는 분기별 관찰일(1월/4월/7월/10월) 중 최저 실적 ETF가 시작 가격 이상으로 마감하면, 노트는 액면가와 마지막 쿠폰을 포함하여 조기 상환되어 추가 상승이 제한됩니다.
원금 위험: 증권이 만기일까지 상환되지 않고 최저 실적 ETF가 시작 가격의 70% 미만으로 마감하면 상환금이 비례하여 감소하며, 투자자는 30% 이상 최대 전액 손실을 입을 수 있습니다.
- 추정 초기 가치: 약 $949.60로, $1,000 공모가 대비 약 5% 낮으며, 이는 최대 2.325%의 구조화 및 유통 비용을 반영합니다.
- 노트는 거래소 상장이 되지 않으며, 2차 시장 유동성과 가격 형성은 불확실합니다.
- 신용 위험은 전적으로 Jefferies Financial Group Inc.에 있으며, JFSI가 계산 대리인 역할을 합니다.
이 증권은 섹터 집중, 발행사 신용 위험 및 전면적인 하락 위험 감수에 익숙한 수익 지향 투자자에게 적합할 수 있습니다.
Jefferies Financial Group Inc. propose des titres liés au marché offrant un revenu conditionnel élevé mais exposant les investisseurs à un risque important de baisse. Les billets, d’une valeur nominale de 1 000 $, sont liés à la moins bonne performance parmi trois ETF sectoriels — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF et SPDR S&P Biotech ETF — et arrivent à échéance le 19 juillet 2029.
Mécanique du revenu : Un coupon mensuel d’au moins 13,40 % par an est versé uniquement lorsque l’ETF le moins performant clôture à au moins 70 % de son prix de départ à la date de calcul pertinente. Les coupons sont perdus les mois où cette condition n’est pas remplie.
Rappel automatique : À partir de janvier 2026, si lors de toute observation trimestrielle (janv./avr./juil./oct.) l’ETF le plus faible clôture à son prix de départ ou au-dessus, le titre est remboursé par anticipation à la valeur nominale plus le dernier coupon, limitant ainsi tout gain supplémentaire.
Risque sur le capital : Si les titres arrivent à échéance sans avoir été rappelés et que l’ETF le plus faible termine en dessous de 70 % de son niveau initial, le remboursement est réduit proportionnellement ; les investisseurs pourraient perdre plus de 30 % et jusqu’à la totalité du capital.
- Valeur initiale estimée : environ 949,60 $, soit environ 5 % en dessous du prix d’offre de 1 000 $, reflétant des coûts de structuration et de distribution pouvant atteindre 2,325 %.
- Les titres ne seront pas cotés en bourse ; la liquidité et la formation des prix sur le marché secondaire sont incertaines.
- L’exposition au risque de crédit repose uniquement sur Jefferies Financial Group Inc. ; JFSI agit en tant qu’agent de calcul.
Ces titres peuvent intéresser les investisseurs recherchant un revenu, à l’aise avec la concentration sectorielle, le risque de crédit de l’émetteur et une participation intégrale à la baisse.
Jefferies Financial Group Inc. bietet Market Linked Securities an, die ein hohes bedingtes Einkommen zahlen, aber Investoren einem erheblichen Abwärtsrisiko aussetzen. Die Schuldverschreibungen mit einem Nennwert von 1.000 US-Dollar sind an den schlechtesten Performer von drei Sektor-ETFs gekoppelt — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF und SPDR S&P Biotech ETF — und laufen am 19. Juli 2029 ab.
Ertragsmechanik: Ein monatlicher Kupon von mindestens 13,40 % p.a. wird nur gezahlt, wenn der am schlechtesten abschneidende ETF am relevanten Berechnungstag bei mindestens 70 % seines Startpreises schließt. In Monaten, in denen diese Bedingung nicht erfüllt ist, entfallen die Kupons.
Automatischer Rückruf: Ab Januar 2026 wird die Anleihe bei jeder quartalsweisen Beobachtung (Jan/Apr/Jul/Okt) vorzeitig zum Nennwert zuzüglich des letzten Kupons zurückgezahlt, wenn der schlechteste ETF mindestens auf dem Startpreis schließt, wodurch weitere Kursgewinne begrenzt werden.
Kapitalrisiko: Erreichen die Wertpapiere die Endfälligkeit ohne Rückruf und schließt der schlechteste ETF unter 70 % des Startniveaus, wird die Rückzahlung proportional reduziert; Anleger könnten mehr als 30 % und bis zum gesamten Kapital verlieren.
- Geschätzter Anfangswert: ca. $949,60, etwa 5 % unter dem Ausgabepreis von 1.000 $, was Strukturierungs- und Vertriebskosten von bis zu 2,325 % widerspiegelt.
- Die Wertpapiere werden nicht an der Börse notiert; die Liquidität und Preisbildung am Sekundärmarkt sind unsicher.
- Das Kreditrisiko liegt ausschließlich bei Jefferies Financial Group Inc.; JFSI fungiert als Berechnungsagent.
Die Wertpapiere könnten für einkommensorientierte Anleger attraktiv sein, die mit Sektorkonzentration, Emittenten-Kreditrisiko und voller Abwärtsbeteiligung vertraut sind.
- Contingent coupon rate of at least 13.40 % per annum provides attractive income potential.
- Quarterly automatic call offers the possibility of early return of capital plus coupon if the lowest ETF recovers to its starting price.
- Full downside exposure below the 70 % threshold can lead to loss of more than 30 % and up to 100 % of principal.
- Estimated fair value of $949.60 is about 5 % below the $1,000 offer price, indicating an immediate structural premium to investors.
- No exchange listing and bespoke CUSIP may result in limited secondary market liquidity and uncertain exit pricing.
- Unsecured credit exposure to Jefferies Financial Group Inc. adds issuer risk independent of ETF performance.
Insights
TL;DR: High 13.4 % coupon offsets neither full downside below 70 % nor credit and liquidity risks; overall risk-reward is balanced.
The instrument offers a headline yield far above investment-grade debt, generated by selling deep out-of-the-money put options on three volatile sector ETFs. Quarterly auto-call improves IRR if markets rally, but also truncates upside to coupon payments. The 70 % barrier means investors absorb the first 30 % of any loss and all additional downside thereafter, effectively converting the note to an unsecured, high-yield credit position on JEF combined with worst-of performance risk. With an estimated fair value of $949.60, buyers pay a 5 % premium for marketing and distribution. Lack of listing and a bespoke CUSIP further reduce exit flexibility. Suitable only for sophisticated investors who fully understand option-linked payoffs.
TL;DR: Concentrated sector exposure and worst-of structure amplify loss potential; risk profile skews negative.
Utilities, regional banks and biotech each carry idiosyncratic regulatory and macro sensitivities. Correlation spikes in stress scenarios could trigger coupon lapses and principal loss simultaneously. Investors also face Jefferies senior credit risk; any deterioration in the issuer’s creditworthiness would depress secondary prices. The 5 % difference between issue price and model value, plus a potential liquidity discount, compounds downside. Given these factors, the note should be viewed closer to high-yield credit with embedded worst-of equity exposure rather than a fixed-income substitute.
Jefferies Financial Group Inc. offre titoli Market Linked che garantiscono un elevato reddito condizionato ma espongono gli investitori a un rischio significativo di ribasso. Le obbligazioni, denominate in tagli da $1.000, sono collegate alla performance peggiore tra tre ETF settoriali — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF e SPDR S&P Biotech ETF — e scadono il 19 luglio 2029.
Meccanismo del reddito: Un coupon mensile di almeno il 13,40% annuo viene corrisposto solo se l'ETF peggior performer chiude al livello pari o superiore al 70% del prezzo iniziale nel giorno di calcolo pertinente. I coupon sono persi in ogni mese in cui la condizione non viene soddisfatta.
Rimborso automatico: Da gennaio 2026, se in una qualsiasi osservazione trimestrale (gen/apr/lug/ott) l'ETF peggiore chiude al livello pari o superiore al prezzo iniziale, il titolo viene rimborsato anticipatamente a valore nominale più l'ultimo coupon, limitando ulteriori guadagni.
Rischio sul capitale: Se i titoli arrivano a scadenza senza essere richiamati e l'ETF peggiore termina sotto il 70% del livello iniziale, il rimborso viene ridotto proporzionalmente; gli investitori potrebbero perdere più del 30% fino all'intero capitale investito.
- Valore iniziale stimato: circa $949,60, circa il 5% sotto il prezzo di offerta di $1.000, riflettendo costi di strutturazione e distribuzione fino al 2,325%.
- I titoli non saranno quotati in borsa; la liquidità e la formazione dei prezzi sul mercato secondario sono incerte.
- Il rischio di credito è esclusivamente a carico di Jefferies Financial Group Inc.; JFSI agisce come agente di calcolo.
Questi titoli possono interessare investitori orientati al reddito, disposti ad accettare concentrazione settoriale, rischio di credito dell’emittente e piena partecipazione al ribasso.
Jefferies Financial Group Inc. ofrece valores vinculados al mercado que pagan un alto ingreso contingente pero exponen a los inversores a un riesgo significativo a la baja. Los bonos, con denominación de $1,000, están vinculados al peor desempeño entre tres ETFs sectoriales — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF y SPDR S&P Biotech ETF — y vencen el 19 de julio de 2029.
Mecánica de ingresos: Se paga un cupón mensual de al menos 13,40 % anual solo cuando el ETF con peor desempeño cierra en o por encima del 70 % de su precio inicial en el día de cálculo correspondiente. Los cupones se pierden en cualquier mes que no se cumpla esta condición.
Redención automática: Desde enero de 2026, si en alguna observación trimestral (ene/abr/jul/oct) el peor ETF cierra en o por encima de su precio inicial, el bono se redime anticipadamente al valor nominal más el cupón final, limitando ganancias adicionales.
Riesgo de principal: Si los valores llegan a madurez final sin ser llamados y el peor ETF termina por debajo del 70 % de su nivel inicial, el reembolso se reduce proporcionalmente; los inversores podrían perder más del 30 % hasta la totalidad del capital.
- Valor inicial estimado: alrededor de $949,60, aproximadamente un 5 % por debajo del precio de oferta de $1,000, reflejando costos de estructuración y distribución de hasta 2,325 %.
- Los bonos no se cotizarán en bolsa; la liquidez y los precios en el mercado secundario son inciertos.
- La exposición crediticia recae únicamente en Jefferies Financial Group Inc.; JFSI actúa como agente de cálculo.
Estos valores pueden atraer a inversores orientados a ingresos que estén cómodos con concentración sectorial, riesgo crediticio del emisor y participación total en las pérdidas.
Jefferies Financial Group Inc.는 높은 조건부 수익을 제공하지만 투자자에게 상당한 하락 위험을 노출하는 시장 연계 증권을 제공합니다. $1,000 단위로 발행되는 이 노트는 세 개의 섹터 ETF 중 가장 저조한 실적을 보이는 ETF에 연동되며—Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF, SPDR S&P Biotech ETF—2029년 7월 19일에 만기됩니다.
수익 구조: 최저 실적 ETF가 해당 산정일에 시작 가격의 70% 이상으로 마감할 경우에만 연 13.40% 이상의 월별 쿠폰이 지급됩니다. 조건이 충족되지 않은 달에는 쿠폰이 지급되지 않습니다.
자동 상환: 2026년 1월부터는 분기별 관찰일(1월/4월/7월/10월) 중 최저 실적 ETF가 시작 가격 이상으로 마감하면, 노트는 액면가와 마지막 쿠폰을 포함하여 조기 상환되어 추가 상승이 제한됩니다.
원금 위험: 증권이 만기일까지 상환되지 않고 최저 실적 ETF가 시작 가격의 70% 미만으로 마감하면 상환금이 비례하여 감소하며, 투자자는 30% 이상 최대 전액 손실을 입을 수 있습니다.
- 추정 초기 가치: 약 $949.60로, $1,000 공모가 대비 약 5% 낮으며, 이는 최대 2.325%의 구조화 및 유통 비용을 반영합니다.
- 노트는 거래소 상장이 되지 않으며, 2차 시장 유동성과 가격 형성은 불확실합니다.
- 신용 위험은 전적으로 Jefferies Financial Group Inc.에 있으며, JFSI가 계산 대리인 역할을 합니다.
이 증권은 섹터 집중, 발행사 신용 위험 및 전면적인 하락 위험 감수에 익숙한 수익 지향 투자자에게 적합할 수 있습니다.
Jefferies Financial Group Inc. propose des titres liés au marché offrant un revenu conditionnel élevé mais exposant les investisseurs à un risque important de baisse. Les billets, d’une valeur nominale de 1 000 $, sont liés à la moins bonne performance parmi trois ETF sectoriels — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF et SPDR S&P Biotech ETF — et arrivent à échéance le 19 juillet 2029.
Mécanique du revenu : Un coupon mensuel d’au moins 13,40 % par an est versé uniquement lorsque l’ETF le moins performant clôture à au moins 70 % de son prix de départ à la date de calcul pertinente. Les coupons sont perdus les mois où cette condition n’est pas remplie.
Rappel automatique : À partir de janvier 2026, si lors de toute observation trimestrielle (janv./avr./juil./oct.) l’ETF le plus faible clôture à son prix de départ ou au-dessus, le titre est remboursé par anticipation à la valeur nominale plus le dernier coupon, limitant ainsi tout gain supplémentaire.
Risque sur le capital : Si les titres arrivent à échéance sans avoir été rappelés et que l’ETF le plus faible termine en dessous de 70 % de son niveau initial, le remboursement est réduit proportionnellement ; les investisseurs pourraient perdre plus de 30 % et jusqu’à la totalité du capital.
- Valeur initiale estimée : environ 949,60 $, soit environ 5 % en dessous du prix d’offre de 1 000 $, reflétant des coûts de structuration et de distribution pouvant atteindre 2,325 %.
- Les titres ne seront pas cotés en bourse ; la liquidité et la formation des prix sur le marché secondaire sont incertaines.
- L’exposition au risque de crédit repose uniquement sur Jefferies Financial Group Inc. ; JFSI agit en tant qu’agent de calcul.
Ces titres peuvent intéresser les investisseurs recherchant un revenu, à l’aise avec la concentration sectorielle, le risque de crédit de l’émetteur et une participation intégrale à la baisse.
Jefferies Financial Group Inc. bietet Market Linked Securities an, die ein hohes bedingtes Einkommen zahlen, aber Investoren einem erheblichen Abwärtsrisiko aussetzen. Die Schuldverschreibungen mit einem Nennwert von 1.000 US-Dollar sind an den schlechtesten Performer von drei Sektor-ETFs gekoppelt — Utilities Select Sector SPDR Fund, SPDR S&P Regional Banking ETF und SPDR S&P Biotech ETF — und laufen am 19. Juli 2029 ab.
Ertragsmechanik: Ein monatlicher Kupon von mindestens 13,40 % p.a. wird nur gezahlt, wenn der am schlechtesten abschneidende ETF am relevanten Berechnungstag bei mindestens 70 % seines Startpreises schließt. In Monaten, in denen diese Bedingung nicht erfüllt ist, entfallen die Kupons.
Automatischer Rückruf: Ab Januar 2026 wird die Anleihe bei jeder quartalsweisen Beobachtung (Jan/Apr/Jul/Okt) vorzeitig zum Nennwert zuzüglich des letzten Kupons zurückgezahlt, wenn der schlechteste ETF mindestens auf dem Startpreis schließt, wodurch weitere Kursgewinne begrenzt werden.
Kapitalrisiko: Erreichen die Wertpapiere die Endfälligkeit ohne Rückruf und schließt der schlechteste ETF unter 70 % des Startniveaus, wird die Rückzahlung proportional reduziert; Anleger könnten mehr als 30 % und bis zum gesamten Kapital verlieren.
- Geschätzter Anfangswert: ca. $949,60, etwa 5 % unter dem Ausgabepreis von 1.000 $, was Strukturierungs- und Vertriebskosten von bis zu 2,325 % widerspiegelt.
- Die Wertpapiere werden nicht an der Börse notiert; die Liquidität und Preisbildung am Sekundärmarkt sind unsicher.
- Das Kreditrisiko liegt ausschließlich bei Jefferies Financial Group Inc.; JFSI fungiert als Berechnungsagent.
Die Wertpapiere könnten für einkommensorientierte Anleger attraktiv sein, die mit Sektorkonzentration, Emittenten-Kreditrisiko und voller Abwärtsbeteiligung vertraut sind.
Registration Statement No. 333- 271881
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Market Linked Securities— Auto-Callable with Contingent Coupon and Contingent Downside
Principal at Risk Securities Linked to the Lowest Performing of the Utilities Select Sector SPDR® Fund, the SPDR® S&P Regional Banking ETF and the SPDR®
S&P Biotech ETF due July 19, 2029
Term Sheet to Preliminary Pricing Supplement dated July 9, 2025
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Issuer:
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Jefferies Financial Group Inc.
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Market Measures:
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Utilities Select Sector SPDR® Fund, SPDR® S&P Regional Banking ETF and SPDR® S&P Biotech ETF (each a “Market Measure,”
and collectively the “Market Measures”).
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Pricing Date*:
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July 16, 2025
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Issue Date*:
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July 21, 2025
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Face Amount and
Original Offering Price:
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$1,000 per security
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Contingent Coupon
Payments:
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On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the contingent coupon rate if, and only if, the
closing price of the lowest performing Market Measure on the related calculation day is greater than or equal to its threshold price. Each “contingent coupon payment,” if any, will be calculated per security as follows: ($1,000 ×
contingent coupon rate)/12.
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Contingent Coupon
Payment Dates:
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Monthly, on the third business day following each calculation day; provided that the contingent coupon payment date with respect to the final calculation day will be
the stated maturity date.
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|||
|
Contingent Coupon
Rate”
|
At least 13.40% per annum, to be determined on the pricing date.
|
|||
|
Automatic Call:
|
If the closing price of the lowest performing Market Measure on any of the calculation days occurring in January, April, July and
October from January 2026 to April 2029, inclusive, is greater than or equal to its starting price, the securities will be automatically called, and on the related call settlement date you will be entitled to receive a cash payment
per security equal to the face amount plus a final contingent coupon payment.
|
|||
|
Calculation Days*:
|
Monthly, on the 16th day of each month, commencing August 2025 and ending June 2029, and on July 16, 2029 (the “final calculation day”)
|
|||
|
Call Settlement Date:
|
Three business days after the applicable calculation day.
|
|||
|
Performance Factor:
|
With respect to a Market Measure on any calculation day, its fund closing price on such calculation day divided by its starting price (expressed as a percentage).
|
|||
|
Maturity Payment
Amount (per security):
|
• if the
ending price of the lowest performing Market Measure on the final calculation day is greater than or equal to its threshold price:
$1,000; or
• if the
ending price of the lowest performing Market Measure on the final calculation day is less than its threshold price:
$1,000 × performance factor of the lowest performing Market Measure
|
|||
|
Lowest Performing
Market Measure:
|
For any calculation day, the lowest performing Market Measure will be the Market Measure with the lowest performance factor on that calculation day.
|
|||
|
Stated Maturity Date*:
|
July 19, 2029
|
|||
|
Starting Price:
|
For each Market Measure, its fund closing price on the pricing date
|
|||
|
Ending Price:
|
For each Market Measure, its fund closing price on the final calculation day
|
|||
|
Threshold Price:
|
For each Market Measure, 70% of its starting price
|
|
Calculation
Agent:
|
Jefferies Financial Services Inc. (“JFSI”), a wholly owned subsidiary of Jefferies Financial Group Inc.
|
|||
|
Denominations:
|
$1,000 and any integral multiple of $1,000
|
|||
|
Agents
Discount**:
|
Up to 2.325%; dealers, including those using the trade name Wells Fargo Advisors (“WFA”), may receive a selling concession of up to 1.75% and WFS may pay 0.075%
of the agent’s discount to WFA as a distribution expense fee
|
|||
|
CUSIP:
|
47233YKT1
|
|||
|
Material Tax
Consequences:
|
See the preliminary pricing supplement.
|
| • |
If The Securities Are Not Automatically Called Prior To Stated Maturity, You May Lose Some Or All Of The Face Amount Of Your Securities At Stated Maturity.
|
| • |
The Securities Do Not Provide For Fixed Payments Of Interest And You May Receive No Coupon Payments On One Or More Contingent Coupon Payment Dates, Or Even Throughout The Entire Term Of
The Securities.
|
| • |
The Securities Are Subject To The Full Risks Of Each Market Measure And Will Be Negatively Affected If Any Market Measure Performs Poorly, Even If The Other Market Measures Perform
Favorably.
|
| • |
Your Return On The Securities Will Depend Solely On The Performance Of The Market Measure That Is The Lowest Performing Market Measure On Each Calculation Day, And You Will Not Benefit
In Any Way From The Performance Of The Better Performing Market Measures.
|
| • |
You Will Be Subject To Risks Resulting From The Relationship Among The Market Measures.
|
| • |
You May Be Fully Exposed To The Decline In The Lowest Performing Market Measure On The Final Calculation Day From Its Starting Price, But Will Not Participate In Any
Positive Performance Of Any Market Measure.
|
| • |
Higher Contingent Coupon Rates Are Associated With Greater Risk.
|
| • |
The Securities Are Subject To A Potential Automatic Call, Which Would Limit Your Ability To Receive Further Payment On The Securities.
|
| • |
A Contingent Coupon Payment Date, A Call Settlement Date Or The Stated Maturity Date May Be Postponed If A Calculation Day Is Postponed.
|
| • |
The Tax Consequences Of An Investment In Your Securities Are Uncertain.
|
| • |
Your Notes may be subject to the constructive ownership rules.
|
|
•
|
The Securities Are Subject To Our Credit Risk.
|
| • |
The Estimated Value Of The Securities On The Pricing Date, Based On Jefferies LLC Proprietary Pricing Models At That Time And Our Internal Funding Rate, Will Be Less Than The Original
Offering Price.
|
| • |
The Estimated Value Of The Securities Was Determined For Us By Our Subsidiary Using Proprietary Pricing Models.
|
| • |
The Estimated Value Of The Securities Would Be Lower If It Were Calculated Based On Our Secondary Market Rate.
|
| • |
The Estimated Value Of The Securities Is Not An Indication Of The Price, If Any, At Which WFS, Jefferies LLC Or Any Other Person May Be Willing To Buy The Securities From You In The
Secondary Market.
|
| • |
The Value Of The Securities Prior To Stated Maturity Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways.
|
| • |
The Securities Will Not Be Listed On Any Securities Exchange And The Issuer Does Not Expect A Trading Market For The Securities To Develop.
|
| • |
Any Payments On The Securities And Whether The Securities Are Automatically Called Will Depend Upon The Performance Of Each Market Measure And Therefore The Securities Are Subject To The
Risks Associated With The Market Measures, As Discussed In The Accompanying Pricing Supplement and Product Supplement.
|
| • |
The Stocks Held By The Market Measures Are Concentrated In A Few Sectors.
|
| • |
Adverse Conditions In The Utilities Sector May Reduce Your Return On The Securities.
|
| • |
The Securities Are Subject To Risks Associated With The Banking Industry.
|
| • |
Adverse Conditions In The Biotechnology Sector May Reduce Your Return On The Securities.
|
|
•
|
Our Economic Interests And Those Of Any Dealer Participating In The Offering Are Potentially Adverse To Your Interests.
|
|
|
FAQ
What contingent coupon rate do JEF Market Linked Securities pay?
When can the JEF auto-callable notes be redeemed early?
How much principal protection do investors have in these JEF securities?
What is the maturity date of Jefferies’ contingent coupon notes?
What is the estimated initial value compared with the face amount?
Are the JEF structured notes listed on an exchange?
