Every 424B that Nomura Holdings, Inc (NMR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow NMR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NMR filings page.
Nomura America Finance, guaranteed by Nomura Holdings, is offering unsecured Autocallable Contingent Coupon Barrier Notes linked to Intel Corporation stock, maturing on February 15, 2029. The estimated value is expected to be between $898.50 and $928.50 per $1,000 principal amount, below the 100% issue price.
The notes pay a contingent quarterly coupon of at least 4.00% (about 16.00% per year) only if Intel’s share price is at or above 60% of its initial value on each observation date. If Intel is at or above its initial value from August 12, 2026 on a call observation date, the notes are automatically redeemed at par plus coupon.
If the notes are not called and Intel’s final value on February 12, 2029 is at least 60% of the initial value, investors receive principal plus the final coupon. If the final value is below this barrier, repayment is reduced 1-for-1 with Intel’s decline, up to a 100% loss of principal and with no protection from prior coupons.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, is issuing US$2,808,000 of autocallable contingent coupon barrier notes linked to the least-performing of the Russell 2000 Index, Nasdaq-100 Technology Sector Index and Health Care Select Sector SPDR ETF, maturing January 28, 2030.
The notes pay a monthly contingent coupon of 1.042% (about 12.50% per year) only if each reference asset is at or above 70% of its initial value on observation dates. They are automatically callable monthly from April 23, 2026 at par plus coupon if all assets are at or above 100% of initial value.
If not called and the least-performing asset finishes below 70% of its initial value, principal is reduced 1‑for‑1 with the decline, up to total loss, regardless of any prior coupons. The estimated value is $976.40 per $1,000 principal amount, below the 100% price to the public, reflecting commissions and structuring costs.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is issuing US$1,700,000 of unsecured Senior Global Medium-Term Notes, Series A, linked to the worst performer among the S&P 500, Russell 2000 and TOPIX indices, maturing on January 8, 2031.
The notes pay a contingent coupon of 1.00% per month (12.00% per year) only when all three indices close at or above 70% of their initial levels on the scheduled observation dates; otherwise no coupon is paid and investors may go long periods with no income.
Unless redeemed early at the issuer’s option, principal repayment at maturity depends on the final level of the least performing index: if it is at or above its 70% barrier, investors receive $1,000 per note plus the final coupon; if it is below the barrier, repayment is reduced one-for-one with the index loss, up to a total loss of principal.
The notes are sold at 100% of principal, with a 0.25% selling commission and referral fees up to 0.40%; Nomura estimates the initial value at $988.40 per $1,000, reflecting structuring and hedging costs.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering callable contingent coupon index-linked notes maturing in 2031 tied to the S&P 500, Russell 2000 and Nasdaq‑100 indices. The notes pay a quarterly coupon of $27.625 per $1,000 face amount (2.7625% quarterly, up to 11.05% per year) only if the closing level of each index on a coupon observation date is at least 70% of its initial level. If the notes are not redeemed and, on the final determination date, any index is below its 70% trigger buffer level, repayment of principal is reduced in line with the worst‑performing index and investors can lose their entire investment. Nomura may redeem the notes at par, plus any due coupon, on quarterly dates from August 2026 through November 2030. The estimated value at pricing is expected to range from $944.30 to $974.30 per $1,000, below the original issue price, and investors take on Nomura credit risk.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering $2,643,000 of principal-at-risk notes linked to the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector indices. The notes pay a contingent monthly coupon of $10.834 per $1,000 (1.0834% monthly, up to about 13.00% per year) only if each index is at or above 70% of its initial level on the observation date; otherwise no coupon is paid.
At maturity in January 2029, if not called earlier, investors receive $1,000 per note only if the worst-performing index is at or above 70% of its initial level. If any index finishes below that trigger, repayment is reduced one-for-one with the worst index’s loss, down to a total loss of principal.
Nomura may redeem the notes at par plus any due coupon on monthly payment dates from April 27, 2026 through December 28, 2028. The estimated value is $986.90 per $1,000 versus a 100% issue price, net proceeds are 99.20% after a 0.80% underwriting discount, and the notes are unsecured and not FDIC insured.
Nomura America Finance, LLC is issuing $1,279,000 of callable contingent coupon index and ETF-linked notes due 2031, guaranteed by Nomura Holdings, Inc. The notes are tied to the S&P 500 Index, the Russell 2000 Index and the State Street Utilities Select Sector SPDR ETF, with quarterly coupons of $23.25 per $1,000 (2.325%, up to 9.30% per year) paid only if each underlier stays at or above 70% of its initial value on the observation date.
If the notes are not redeemed and any underlier finishes below 60% of its initial value on the determination date, repayment is reduced in line with the worst-performing underlier and investors can lose up to their entire principal. Nomura may redeem the notes at par plus any due coupon on coupon payment dates from January 27, 2027 through October 25, 2030. The notes are unsecured, subject to Nomura credit risk, and have an initial estimated value of $960.80 per $1,000 face amount, below the issue price.
Nomura America Finance, fully guaranteed by Nomura Holdings, is offering issuer-redeemable contingent coupon barrier notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector Index. The notes mature in February 2028 and are unsecured, not FDIC insured.
The notes pay a monthly contingent coupon of at least 0.975% (11.70% per year) only if all three indices close on or above 70% of their initial values on each observation date. The issuer may redeem the notes at its option starting in May 2026, returning principal plus any due coupon.
At maturity, if not redeemed, investors receive principal plus the final coupon if the least performing index is at or above its 70% barrier. If it is below this barrier, repayment is reduced one-for-one with the index decline, and up to 100% of principal can be lost. The estimated initial value is between $947.30 and $977.30 per $1,000, below the issue price, and secondary market liquidity may be limited.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured autocallable contingent coupon barrier notes linked to the worst performer of the Russell 2000 Index, Nasdaq-100 Technology Sector Index and Health Care Select Sector SPDR ETF, maturing on January 28, 2030.
The notes pay a monthly contingent coupon of at least 1.042% (about 12.50% per year) only if each reference asset stays at or above 70% of its initial level on observation dates; otherwise no coupon is paid and investors may receive no income for the life of the notes. The notes can be automatically called from April 23, 2026 if all assets are at or above 100% of their initial levels, returning principal plus the applicable coupon.
At maturity, if not called, investors receive principal plus the final coupon only if the worst-performing asset is at or above 70% of its initial level; otherwise the payoff is reduced one-for-one with the decline in that asset, with up to 100% loss of principal. The estimated initial value is expected between $945.90 and $975.90 per $1,000 note, the notes are not FDIC insured, will not be listed on an exchange, and are subject to Nomura’s credit risk and limited liquidity.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering senior unsecured notes linked to the S&P 500, Russell 2000 and Nasdaq‑100 indices, with an aggregate face amount of $2,549,000. The notes pay a contingent monthly coupon of $9.50 per $1,000 face amount (0.95% monthly, up to 11.40% per annum) only if on each observation date all three indices are at or above 70% of their initial levels.
The same 70% level acts as a principal protection trigger. If, at maturity in January 2029, the worst‑performing index is at or above 70% of its initial level, investors receive $1,000 per note plus any final coupon. If it is below 70%, repayment is reduced one‑for‑one with that index’s loss, which can result in a total loss of principal.
The issuer may redeem the notes early at par (plus any due coupon) on specified coupon payment dates from July 23, 2026 through October 25, 2028. The estimated value at pricing was $976.80 per $1,000, below the 100% issue price, and investors bear both market risk on the indices and credit risk of Nomura.
Nomura America Finance, LLC is issuing US$7,372,000 of unsecured issuer redeemable contingent coupon barrier notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100, fully and unconditionally guaranteed by Nomura Holdings, Inc. The notes mature on January 11, 2029, unless redeemed early at Nomura’s option on quarterly dates starting April 9, 2026 at par plus any due coupon.
Holders may receive a 0.842% monthly contingent coupon (about 10.10% per year) only if on each observation date all three indices are at or above 70% of their initial values. At maturity, if not called, principal is fully protected only while the least performing index stays above a 60% barrier; below that level, repayment is reduced one-for-one with the index loss and can fall to zero.
The estimated value is $977.50 per $1,000 note, below the 100% issue price, reflecting structuring costs and dealer compensation. The agent’s commission is 0.25%, and expected issuer proceeds are $7,353,570. The notes will not be listed, may have limited liquidity, and are subject to Nomura’s credit risk.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering callable contingent coupon notes linked to the S&P 500 Index, Russell 2000 Index and State Street Utilities Select Sector SPDR ETF (XLU), maturing in 2031.
The notes pay a quarterly coupon of $23.25 per $1,000 (2.325% quarterly, up to 9.30% per year) only if on each observation date all three underliers are at or above 70% of their initial values. At maturity, if not previously redeemed, investors receive $1,000 per note if each underlier is at or above 60% of its initial value; otherwise repayment is reduced 1-for-1 with the worst underlier and investors can lose their entire principal.
Nomura may redeem the notes at par on any coupon payment date from January 27, 2027 through October 25, 2030. The estimated value at pricing is expected to be between $931.80 and $961.80 per $1,000 face amount, below the issue price, and holders are exposed to the unsecured credit risk of Nomura America Finance and Nomura Holdings.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured Issuer Redeemable Contingent Coupon Barrier Notes linked to the least performing of the S&P 500 Index, Dow Jones Industrial Average and Nasdaq‑100 Index, maturing on January 24, 2031.
The notes pay a contingent monthly coupon of at least 0.7834% (about 9.40% per year) only if each index closes at or above 75% of its initial level on the relevant observation date; otherwise no coupon is paid and investors may receive no coupons over the life of the notes.
Unless earlier redeemed, principal repayment depends on the final level of the worst index relative to barriers set at 75% and 70% of its initial value. If the worst index finishes below 70%, repayment is reduced one‑for‑one with the index loss, and investors can lose up to 100% of principal.
The issuer may call the notes on specified dates starting April 23, 2026 at par plus any due coupon. The estimated initial value is $937.70–$967.70 per $1,000, less than the 100% price to the public, and the notes carry both issuer and guarantor credit risk and will not be listed on any exchange.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured autocallable contingent coupon barrier notes linked to the least performing of the Russell 2000 Index, Nasdaq-100 Index and Nikkei 225 Index, maturing January 21, 2031.
The notes pay a quarterly contingent coupon of at least 2.775% ($27.75 per $1,000), equivalent to 11.10% per year, but only if on each observation date all three indices close at or above 70% of their initial values. Beginning April 15, 2026, the notes are automatically called at par plus the coupon if each index is at or above 100% of its initial value.
If the notes are not called, principal is protected at maturity only if the least performing index is at or above 60% of its initial value; below that level, repayment is reduced one-for-one with the index loss and investors can lose their entire principal. The estimated value on the trade date is expected between $929.30 and $959.30 per $1,000, and the notes will not be listed on any exchange, adding liquidity and market value risk on top of Nomura credit risk.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering $1,535,000 of unsecured Senior Global Medium-Term Notes, Series A, in the form of issuer redeemable contingent coupon barrier notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 indexes, maturing on January 19, 2029.
The notes pay a 0.8875% monthly contingent coupon (10.65% per annum) of $8.875 per $1,000 principal only if on each observation date all three indexes are at or above 70% of their initial values; otherwise no coupon is paid and investors may receive no income over the term. At maturity, if not called and the worst index remains at or above its 70% barrier, holders receive $1,000 per note plus the final coupon, but if the worst index finishes below its barrier, repayment is reduced 1-for-1 with the index loss, up to a total loss of principal.
The issuer may redeem the notes at its option on specified monthly dates starting January 19, 2027, paying principal plus any due coupon. The price to the public is 100% of principal, with a 0.25% selling commission and 99.75% proceeds to the issuer, and the estimated value at pricing is $978.70 per $1,000. The notes are not bank deposits, are not FDIC insured, will not be listed on any exchange, and depend on Nomura’s creditworthiness.
Nomura America Finance, fully guaranteed by Nomura Holdings, is issuing $1,000,000 of senior unsecured leveraged notes linked to the S&P 500 Futures Excess Return Index, maturing on January 20, 2032. The notes are principal-protected at maturity and pay no interest. At maturity, investors receive $1,000 per note plus 161% of any positive index performance; if the index is flat or down, they receive only their $1,000 principal.
The price to the public is 100% of principal, while the estimated value on the trade date is $990.40 per $1,000, reflecting fees, hedging and funding costs. The notes are subject to Nomura’s credit risk, are not FDIC insured, and will not be listed on any exchange, so secondary market liquidity may be limited. Performance depends on E-mini S&P 500 futures, including futures market dynamics such as contango, backwardation, and financing costs.
Nomura America Finance, LLC is offering $6.691 million of unsecured, index-linked notes guaranteed by Nomura Holdings, Inc. The notes pay a contingent monthly coupon of $9.875 per $1,000 face amount (0.9875% monthly, up to 11.85% per year) only when the S&P 500, Russell 2000 and Nasdaq-100 are each at or above 70% of their initial levels on the relevant observation date.
The notes can be automatically called starting April 2026 if each index is at or above its initial level, in which case investors receive $1,000 plus the coupon. If the notes are not called and, on the January 16, 2029 determination date, the worst-performing index is at or above 70% of its initial level, investors receive full principal back; otherwise, repayment is reduced one-for-one with the decline in that index, down to a possible total loss.
The notes’ estimated value at pricing is $983.10 per $1,000, below the issue price, reflecting dealer compensation and hedging costs. Net proceeds are $6,657,545 after a 0.50% underwriting discount. Investors face Nomura credit risk, may receive no coupons, have no equity upside beyond par plus coupons, and may find limited secondary market liquidity.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering callable contingent coupon index-linked notes due 2028 tied to the S&P 500, Russell 2000 and Nasdaq-100 indices. Each $1,000 note can pay a monthly coupon of $10.25 (1.025% monthly, up to 12.30% per year) if on each observation date all three indices are at or above 70% of their initial level; otherwise no coupon is paid.
At maturity, if the notes have not been redeemed and every index is at or above its 70% trigger buffer, investors receive $1,000 per note plus any final coupon. If any index finishes below its trigger buffer, the payoff is reduced one-for-one with the loss of the worst index, and investors can lose their entire principal.
Nomura may redeem the notes at par plus any due coupon on monthly payment dates from April 20, 2026 through December 20, 2027. The notes are unsecured, subject to Nomura’s credit risk, and have an estimated value of $953.50–$983.50 per $1,000, less than the original issue price.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, plans to issue autocallable contingent coupon barrier notes linked to the worst performer of Alphabet Class A (GOOGL) and Amazon.com (AMZN), maturing in February 2029. The notes are unsecured obligations and are not FDIC insured.
Investors may receive a quarterly contingent coupon of at least 2.65% (at least 10.60% per year) per $1,000 if on each observation date both stocks close at or above 60% of their initial value; otherwise no coupon is paid. Starting July 2026, the notes are automatically called if both stocks are at or above 100% of their initial value, returning principal plus the coupon. If the notes are not called and the worst-performing stock finishes below 60% of its initial value at final valuation, repayment is reduced 1-for-1 with the stock’s decline, up to a total loss of principal. The estimated value at pricing is expected between $896.70 and $926.70 per $1,000 issue price, reflecting fees and hedging costs.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, plans to issue autocallable memory coupon barrier notes linked to Tesla, Inc. common stock, maturing on February 1, 2029. The notes pay a quarterly contingent coupon of at least 3.05% (12.20% per annum) when Tesla’s closing value on a coupon observation date is at or above 60% of the initial value, with unpaid coupons potentially paid later if the barrier is later met.
The notes may be automatically called on quarterly call observation dates starting July 27, 2026 if Tesla’s closing value is at or above 100% of its initial value, returning principal plus the applicable coupon and any unpaid coupons. If the notes are not called and Tesla’s final value is below 60% of the initial value, repayment at maturity is reduced 1-for-1 with the decline in Tesla from the initial value, and investors can lose up to 100% of principal.
The notes are unsecured obligations of Nomura America Finance, guaranteed by Nomura Holdings, and will not be listed on any exchange. The estimated value on the trade date is expected to be between $896.40 and $926.40 per $1,000 principal amount, below the 100% price to public, reflecting fees, hedging costs and structuring margins, and exposing investors to Nomura’s credit risk.
Nomura America Finance, LLC plans to issue unsecured, index- and ETF-linked notes due 2028 that pay contingent quarterly coupons of $20.50 per $1,000 face amount (2.05% quarterly, up to 8.20% per year). Coupons are paid only if, on each observation date, the S&P 500 Index, the Russell 2000 Index and the Utilities Select Sector SPDR ETF (XLU) are all at or above 60% of their initial values.
At maturity, if not previously redeemed, investors receive $1,000 per note only if each underlier is at or above its 60% trigger buffer value; otherwise, the payoff is $1,000 plus $1,000 times the worst underlier’s return, and investors can lose their entire principal. Nomura may redeem the notes at par plus any due coupon on specified coupon dates from July 23, 2026 to October 25, 2027. The notes carry the credit risk of Nomura America Finance, LLC and guarantor Nomura Holdings, Inc., and their estimated value at pricing is expected to be between $947.90 and $977.90 per $1,000, below the original issue price.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering senior unsecured Autocallable Buffer Notes linked to the S&P 500® Index, maturing on January 18, 2028. The notes are issued at 100% of principal, but their initial estimated value is expected to be between $952.20 and $982.20 per $1,000, reflecting fees and structuring costs.
The notes can be automatically called on January 25, 2027 if the S&P 500® closes at or above 6,977.27, paying back principal plus a 7.50% call premium. If not called, at maturity investors receive at least a 15.00% contingent minimum return if the index finish is at or above the 5,930.68 buffer level, and enhanced downside exposure of about 1.176471x beyond a 15.00% loss if the index closes below that buffer, with the possibility of losing the entire principal. The notes pay no interest, will not be listed on an exchange, and are subject to Nomura’s credit risk and complex, uncertain U.S. tax treatment.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, is offering senior unsecured autocallable buffer notes linked to the S&P 500® Index, maturing in January 2028. The notes can be automatically called in January 2027 if the S&P 500 closes at or above the call barrier, paying back principal plus an 8.50% call premium per $1,000.
If not called, investors receive at maturity either a positive return or a 17.00% contingent minimum return per $1,000, provided the index finishes at or above 90.00% of its initial level of 6,977.27. Below this 10.00% buffer, losses accelerate at approximately 1.1111 times the index’s decline beyond the buffer and can reach 100% of principal.
The notes pay no interest, are unsecured obligations of Nomura America Finance with a guarantee from Nomura Holdings, and will not be listed on any exchange. The estimated value on the trade date is expected between $952.20 and $982.20 per $1,000, reflecting structuring costs and dealer compensation, and may differ from secondary market prices.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured Senior Global Medium-Term Notes, Series A, structured as autocallable contingent coupon barrier notes linked to the Russell 2000®, Nasdaq‑100® and Nikkei 225, maturing on January 21, 2031.
The notes pay a contingent quarterly coupon of at least 2.875% (11.50% per annum) per $1,000 only if each index is at or above 70% of its initial value on the relevant observation date. They are automatically called if, on or after April 15, 2026, all three indices are at or above 100% of their initial values, in which case investors receive principal plus the applicable coupon.
At maturity, if not called, investors receive principal plus the final coupon if the least performing index is at or above its 70% barrier, principal only if it is between 65% and 70%, and suffer losses 1‑for‑1 with any decline if it is below 65%, potentially losing their entire investment. The price to public is 100% of principal, with an agent’s commission of up to 1.50%, and the estimated value on the trade date is expected between $926.90 and $956.90 per $1,000. The notes will not be listed on any securities exchange.
Nomura America Finance, fully guaranteed by Nomura Holdings, is offering unsecured autocallable contingent coupon barrier notes linked to Broadcom Inc. (AVGO) stock, maturing on January 19, 2029. The notes are priced at 100% of principal, with an agent’s commission of up to 3.00% and at least 97.00% of proceeds to the issuer. Their estimated value at pricing is expected to be $922.40–$952.40 per $1,000 note.
Investors may receive a quarterly contingent coupon of at least 5.050% (about 20.20% per year) per $1,000 if AVGO’s closing value is at or above 70% of its initial value on each observation date. The notes are automatically called, returning principal plus the coupon, if AVGO is at or above 100% of its initial value on specified dates starting April 16, 2026. If not called and AVGO is at or above 70% of its initial value at final valuation, holders get $1,000 plus the final coupon; if AVGO is below 70%, repayment is reduced one‑for‑one with the stock’s decline and up to 100% of principal can be lost. The notes are not listed, their tax treatment is uncertain, and investors bear both AVGO market risk and Nomura credit risk.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering senior unsecured leveraged participation notes linked to the S&P 500® Futures Excess Return Index, maturing on January 20, 2032. The notes provide 100% principal repayment at maturity and a 161% upside participation rate on any positive index performance, based solely on the index level on the final valuation date.
The notes pay no periodic interest, are not bank deposits and are subject to Nomura credit risk. An estimated value between $950.70 and $980.70 per $1,000 principal amount is expected at pricing, reflecting fees, hedging costs and issuer funding assumptions. Key risks include exposure to equity futures (including contango and roll yield effects), limited liquidity, complex U.S. tax treatment as contingent payment debt instruments and the fact the index is excess return, not total return.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, Inc., is offering callable contingent coupon notes linked to the S&P 500, Russell 2000 and Nasdaq-100 indexes. Each note has a $1,000 face amount and can pay a quarterly contingent coupon of $28.50 (2.85% per quarter, up to 11.40% per year) if on the observation date all three indexes are at or above 70% of their initial levels.
At maturity in 2029, if the notes have not been redeemed and each index is at or above 70% of its initial level, investors receive $1,000 per note plus any final coupon. If any index is below 70%, repayment is reduced in line with the worst-performing index, and investors can lose up to 100% of principal. Nomura may redeem the notes at par on any coupon payment date from July 21, 2026 through October 19, 2028.
The notes are unsecured obligations subject to the credit risk of Nomura America Finance, LLC and Nomura Holdings, Inc. The estimated value on the trade date is expected to be between $949.30 and $979.30 per $1,000 face amount, less than the original issue price, reflecting fees, hedging costs and structuring economics.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering leveraged participation notes linked to the S&P 500® Futures Excess Return Index, maturing in January 2032. These are senior unsecured medium-term notes that return principal at maturity plus leveraged upside if the index ends above its initial level, using a 161% upside participation rate.
If the index is flat or lower on the final valuation date, investors receive only the $1,000 principal per note and no additional return. The notes pay no periodic interest, are not FDIC insured, and will not be listed on an exchange, so liquidity may be limited. The estimated value at pricing is expected to be between $950.70 and $980.70 per $1,000, reflecting dealer compensation, hedging and structuring costs.
The reference index tracks near-term E-mini S&P 500 futures in excess-return form, so performance is affected by futures pricing, rolling effects such as contango or backwardation, and implicit financing costs, which can cause returns to differ from the S&P 500 Index itself. The notes are treated as contingent payment debt instruments for U.S. federal income tax purposes, requiring accrual of original issue discount even though no cash is paid before maturity.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, is issuing US$1,347,000 of unsecured Issuer Redeemable Contingent Coupon Barrier Notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq‑100, maturing on January 14, 2031.
The notes pay a monthly contingent coupon of 0.933% (about 11.20% per year) per $1,000 only if on each observation date all three indices are at or above 75% of their initial values; otherwise no coupon is paid and investors may receive no income over the life of the notes.
Principal is at full risk: if at maturity the worst index is below 70% of its initial level, repayment is reduced 1-for-1 with the decline, up to a total loss of principal. Nomura may redeem the notes early on specified dates from April 14, 2026, paying $1,000 plus any due coupon.
The notes are not bank deposits or FDIC insured, will not be listed on any exchange, and their value and repayment depend on Nomura’s creditworthiness. The estimated value at pricing is $967.10 per $1,000, below the issue price, reflecting fees, hedging and funding costs.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, plans to issue autocallable contingent coupon barrier notes linked to the least performing of the S&P 500 Index and the SPDR S&P Regional Banking ETF (KRE), maturing on January 30, 2031. The notes are unsecured, not principal-protected and not insured by the FDIC or any government agency.
Investors may receive a quarterly contingent coupon of at least 2.875% of principal (at least 11.50% per year) if on each observation date both reference assets close at or above 75% of their initial value. The notes are automatically called, returning principal plus coupon, if on designated call dates starting July 27, 2026 both assets are at or above 100% of their initial value. If the notes are not called and the worst-performing asset finishes below its 75% barrier at maturity, repayment is reduced 1-for-1 with that decline, and investors can lose up to 100% of principal.
The preliminary estimated value is expected to be between $917.20 and $947.20 per $1,000, lower than the 100% issue price, reflecting structuring costs, commissions of up to 2.50% and hedging. The notes’ value and payments also depend on Nomura’s creditworthiness and on complex tax treatment, including potentially uncertain treatment of contingent coupons.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is issuing $831,000 of unsecured Senior Global Medium-Term Notes, Series A, linked to the least performing of the S&P 500 Index, Russell 2000 Index and Nasdaq-100 Technology Sector Index.
The notes pay a contingent coupon of $9.38 per $1,000 (0.938% monthly, about 11.25% per year) only if on each observation date all three indices are at or above 70% of their initial values. If any index is below its barrier, that month’s coupon is skipped and investors may receive no coupons over the life of the notes.
At maturity in January 2028, if the least performing index is at or above its barrier, holders receive $1,000 plus the final coupon. Otherwise, repayment is reduced 1-for-1 with the index loss, up to a 100% loss of principal. Nomura may redeem the notes early on specified dates from April 2026 at par plus any due coupon. The notes are not FDIC insured, are not exchange-listed, and their estimated value at pricing was $974.40 per $1,000, below the public offering price.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, plans to issue autocallable memory coupon barrier notes linked to the S&P 500® Index, maturing around February 11, 2027 if not called. The notes pay a quarterly contingent coupon of at least 2.1425% of principal (at least $21.425 per $1,000) when the S&P 500 closing level is at or above 80% of the initial level of 6,944.82, and missed coupons can be paid later if the barrier is met on a future observation date.
The notes are automatically called at par plus any due and unpaid coupons if, on any call observation date starting May 8, 2026, the index is at or above the initial level. If not called and the final index level on February 8, 2027 is below 80% of the initial level, investors are exposed 1-for-1 to the index decline and can lose up to 100% of principal. The notes are unsecured obligations with Nomura credit risk, offered at 100% of principal with an estimated initial value between $955 and $985 per $1,000 and a minimum initial investment of $10,000.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering issuer redeemable contingent coupon barrier notes linked to the least performing of the S&P 500® Index, Russell 2000® Index and Nasdaq-100® Technology Sector Index, maturing on January 12, 2029. Each note has a $1,000 principal amount and offers a contingent coupon rate of at least 0.833% monthly (about 10.00% per year) when all three indices are at or above 70.00% of their initial values on observation dates. Principal is protected only if the worst-performing index stays at or above 60.00% of its initial value at final valuation; otherwise repayment is reduced 1-to-1 with the index loss, up to a complete loss. The issuer may redeem the notes early on specified dates from July 14, 2026, and the notes are unsecured, not FDIC-insured, and subject to Nomura’s credit risk. The estimated initial value is expected to be $944.00–$974.00 per $1,000.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering issuer-redeemable contingent coupon barrier notes linked to the S&P 500, Russell 2000 and Nasdaq‑100 indices, maturing in January 2029. These unsecured notes pay a monthly contingent coupon only if, on each observation date, all three indices are at or above their respective coupon barriers set at 70% of initial levels. The indicative coupon rate is at least 0.842% per month, or about 10.10% per year.
Principal repayment is not guaranteed. If the notes are not redeemed early and, on the final valuation date, the worst-performing index closes below its 60% barrier, repayment is reduced one‑for‑one with that index’s loss, up to a total loss of principal. Nomura may, at its option, redeem the notes on specified dates starting in April 2026, paying principal plus any due coupon. The notes are expected to be sold at 100% of principal, with an estimated initial value between $947.70 and $977.70 per $1,000, reflecting fees and hedging costs, and will not be listed on any exchange.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is issuing US$10,315,000 of issuer redeemable contingent coupon barrier notes linked to the worst performer of the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector Index, maturing on January 3, 2031.
The notes pay a 0.925% monthly contingent coupon (11.10% per annum) only if on each observation date all three indices are at or above their respective contingent coupon barriers set at 70% of initial levels. Principal is protected at maturity only if the worst-performing index stays at or above its barrier value, set at 60% of its initial level; below that, repayment is reduced 1-for-1 with the index loss, down to total loss of principal.
The issuer may redeem the notes at its option on specified dates starting July 6, 2026 by paying principal plus any due coupon. The notes are unsecured obligations, not FDIC insured, will not be listed on an exchange, and carry Nomura credit risk. The estimated value on the trade date is $976.60 per $1,000 principal, below the 100% price to public.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering $4.63 million of Autocallable Contingent Coupon Barrier Notes linked to the least performing of the Russell 2000 Index, Nasdaq-100 Technology Sector Index and S&P 500 Index, maturing in December 2028. The notes pay a contingent monthly coupon of 1.021% (12.25% per annum) only when all three indices close at or above preset coupon barriers, and can be called early from September 2026 if all are at or above their call barriers, returning principal plus the applicable coupon. Principal repayment is protected only if, at final valuation, the worst index is at or above its 70% barrier; below that level, repayment is reduced 1-for-1 with the index loss, up to a full loss of principal. The notes are unsecured, subject to Nomura’s credit risk, are not FDIC insured, and their estimated initial value is $979.40 per $1,000, below the 100% issue price due to commissions, hedging and issuance costs.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured Issuer Redeemable Contingent Coupon Barrier Notes due December 29, 2028, linked to the least performing of the S&P 500 Index, Russell 2000 Index and Nasdaq-100 Technology Sector Index. The notes are issued in $1,000 denominations and are not bank deposits or FDIC insured.
Investors may receive a contingent coupon of at least $8.875 per $1,000 (at least 0.8875% monthly, about 10.65% per year) on scheduled observation dates, but only if each index is at or above 70% of its initial level. Principal is protected only if, at maturity, the worst index is at or above 60% of its initial level; otherwise, repayment is reduced 1-for-1 with the decline and investors can lose up to 100% of principal.
Nomura can redeem the notes early on specified dates starting June 26, 2026, paying principal plus any due coupon. The estimated value on the trade date is expected to be between $942.70 and $972.70 per $1,000, which is lower than the 100% price to the public, reflecting fees, hedging costs and the issuer’s funding spread.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured issuer-redeemable contingent coupon barrier notes linked to the least performing of the S&P 500, Russell 2000 and TOPIX indices, maturing on January 8, 2031.
The notes pay a monthly contingent coupon of at least 1.00% (at least 12.00% per year) only if on each observation date all three indices are at or above 70% of their initial value; otherwise no coupon is paid for that month and investors may receive no coupons over the life of the notes.
Unless earlier redeemed at Nomura’s option on specified dates from April 2, 2026, principal repayment depends on the final level of the worst-performing index: if it is at or above 70% of its initial value, investors receive principal plus the final coupon; if it is below 70%, repayment is reduced one-for-one with the index loss, up to a total loss of principal.
The notes are not bank deposits, are subject to Nomura’s credit risk, will not be listed on an exchange, and their initial estimated value is expected to be between $935.70 and $965.70 per $1,000 principal amount, less than the 100% price to the public.
Nomura America Finance, LLC is issuing US$1,530,000 of senior issuer redeemable contingent coupon barrier notes due December 19, 2030, linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 indexes. The notes pay a monthly contingent coupon of 0.8917% (10.70% per annum) per $1,000 principal if, on each observation date, all three indexes are at or above 70% of their initial values. Nomura may redeem the notes at par plus any due coupon on specified monthly dates starting December 21, 2026. If the notes are not redeemed and the least performing index finishes below 70% of its initial value at maturity, investors are fully exposed to that decline and can lose up to 100% of principal. The estimated value at pricing is $973.50 per $1,000, versus a 100% price to the public, with a 0.25% selling commission and 99.75% proceeds to the issuer.
Nomura America Finance, LLC, guaranteed by Nomura Holdings, is offering callable contingent coupon index-linked notes due 2027 tied to the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices. These unsecured notes can pay monthly coupons of $11.042 per $1,000 face amount (about 1.1042% per month, up to approximately 13.25% per annum) only when each index is at or above 65% of its initial level on the relevant observation date.
If any index ever falls more than 30% below its initial level during the measurement period and finishes below its initial level at maturity, investors lose principal based on the worst-performing index and could lose their entire investment, even after prior coupons. Nomura may redeem the notes at par, plus any due coupon, on coupon payment dates from June 18, 2026 through May 20, 2027. The estimated value is expected to be between $954.30 and $984.30 per $1,000 note, below the original issue price, reflecting dealer compensation, expenses and hedging costs.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering US$201,000 of autocallable contingent coupon barrier notes linked to Intel Corporation common stock, maturing December 20, 2028. The notes pay a contingent coupon of $35 per $1,000 (a 3.50% quarterly rate, 14.00% per year) only if Intel’s closing price on each observation date is at or above a barrier of $22.51, which is 60% of the $37.51 initial value.
The notes can be automatically called on quarterly dates starting June 15, 2026 if Intel closes at or above the $37.51 call barrier; in that case, investors receive principal plus the applicable coupon. If the notes are not called and Intel’s final value is at or above the $22.51 barrier, investors receive $1,000 plus the final coupon per note. If the final value is below the barrier, repayment is reduced one-for-one with the stock decline, and up to 100% of principal can be lost.
The estimated value at pricing is $920.40 per $1,000, below the 100% issue price, and investors are exposed to both the performance of Intel’s stock and the credit risk of Nomura. The notes will not be listed on any exchange.
Nomura America Finance, fully guaranteed by Nomura Holdings (NYSE: NMR), is issuing $15,000,000 of Step-Down Autocallable Barrier Notes linked to the S&P 500 and Russell 2000, maturing on December 16, 2027. The notes are unsecured, pay no interest, and are not FDIC insured.
The notes are issued at 100% of principal in $1,000 denominations, with agents’ commissions of 0.45%, so proceeds to the issuer are 99.55%. The initial index levels are 6,827.41 for the S&P 500 and 2,551.457 for the Russell 2000, with barrier levels set at 70% of those values.
The notes can be automatically called if both indices are at or above their call barriers on the December 28, 2026 observation date, paying back principal plus a 9.80% call premium. If held to maturity and still above the barrier, investors receive principal plus a 19.60% premium. If the least-performing index finishes below its barrier, repayment is reduced one-for-one with the loss in that index, up to a total loss of principal. The estimated initial value is $973.30 per $1,000, reflecting embedded fees and hedging costs.
Nomura America Finance is issuing US$329,000 of senior unsecured autocallable contingent coupon barrier notes linked to Target Corporation common stock, fully and unconditionally guaranteed by Nomura Holdings. The notes pay a 2.5875% quarterly contingent coupon (10.35% per annum), or $25.875 per $1,000, when TGT closes at or above a contingent coupon barrier set at $58.54, which is 60.00% of the $97.56 initial value, and may be automatically called from the June 15, 2026 observation date if TGT is at or above the $97.56 call barrier level.
If not called, investors receive at maturity either $1,000 plus the final contingent coupon when TGT is at or above the $58.54 barrier, or $1,000 plus the stock’s percentage loss when it finishes below the barrier, which can mean losing up to 100% of principal. The notes are not principal-protected, are not FDIC insured and carry Nomura credit risk. The price to public is 100% of principal, including a 4.00% selling commission and 96.00% proceeds to the issuer, while the estimated value is $934.80 per $1,000.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering issuer-redeemable contingent coupon barrier notes linked to the worst-performing of the S&P 500 Index and the Russell 2000 Index, maturing on December 24, 2030. The notes pay a monthly contingent coupon of at least 0.833% (about 10.00% per year) only if, on each observation date, both indices close at or above 70% of their initial values.
Nomura may redeem the notes early, in whole, on any monthly optional redemption date starting March 24, 2026, paying principal plus any due coupon. If the notes are not redeemed, principal repayment at maturity depends on the least performing index: if it is at or above 70% of its initial level, holders receive principal plus the final coupon; if it is between 60% and 70%, holders receive only principal; if it is below 60%, repayment is reduced 1-to-1 with the index loss, up to a total loss of principal.
The notes are unsecured obligations of the issuer, subject to Nomura’s credit risk, will not be listed on any exchange, and are not FDIC insured. The estimated value at pricing is expected to be between $955.40 and $985.40 per $1,000 principal amount, less than the price to public, and the supplement highlights extensive structural, market, credit and tax risks.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, plans to issue autocallable memory coupon barrier notes linked to the least performing of the S&P 500 Index, Nasdaq-100 Index and Russell 2000 Index, maturing on December 22, 2028. The notes pay a monthly contingent coupon of at least 0.821% (about 9.85% per year) when each index closes at or above 70% of its initial value, with missed coupons potentially paid later if conditions are met.
The notes can be called monthly starting June 22, 2026 at par plus the applicable coupon and any previously unpaid coupons if each index is at or above its initial level. If not called and the least performing index ends below 70% of its initial value at maturity, principal is reduced 1-for-1 with the index loss, up to a total loss of principal. The estimated initial value is expected between $944.60 and $974.60 per $1,000, they are unsecured, not FDIC insured, and will not be listed on an exchange.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering step-down autocallable barrier notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq‑100, maturing in December 2028. The price to the public is 100% of principal, while the estimated value is expected to range from $947.40 to $977.40 per $1,000, reflecting embedded fees and hedging costs.
The notes may be automatically called if on specified observation dates each index is at or above 80% of its initial level, paying principal plus call premiums of 10.25%, 20.50% or 30.75%. If not called and the worst index finishes below a 70% barrier, repayment is reduced one‑for‑one with the decline, down to a total loss of principal. The notes pay no interest, are unsecured obligations and are not FDIC insured, so returns depend both on index performance and Nomura’s creditworthiness.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, is offering autocallable contingent coupon barrier notes linked to the least performing shares of Goldman Sachs, Morgan Stanley and Wells Fargo, maturing in January 2029. The notes are unsecured obligations and will not be listed on any exchange, so secondary market liquidity may be limited.
Holders can receive quarterly contingent coupons of at least 3.125% (12.50% per year) per $1,000 if each stock is at or above 70% of its initial level on the relevant observation date. The notes are automatically called, returning principal plus the coupon, if all three stocks are at or above 100% of their initial levels on specified dates starting in June 2026. If the notes are not called and the weakest stock finishes below 70% of its initial level, repayment of principal is reduced one-for-one with the decline, up to a total loss. The preliminary estimated value is $889.30–$919.30 per $1,000, below the issue price, and buyers also take on Nomura credit risk and uncertain tax treatment.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., plans to issue unsecured issuer redeemable contingent coupon barrier notes linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indexes, maturing in December 2027. The notes pay a monthly contingent coupon of at least 1.142% (about 13.70% per year) only if each index closes at or above 80% of its initial value on the relevant observation date, and investors may receive no coupons.
Nomura may redeem the notes at par plus any due coupon on monthly dates starting in June 2026. At maturity, if not redeemed, investors receive full principal plus the final coupon if the worst index ends at or above its 80% barrier, full principal if the worst index is between 75% and 80% of its initial level, and a loss matching the full decline of the worst index if it finishes below 75%, up to a total loss of principal. The estimated initial value is between $948.60 and $978.60 per $1,000, reflecting fees and hedging costs, and the notes will not be listed on any exchange.
Nomura America Finance, LLC is offering step-down autocallable barrier notes linked to the S&P 500® Index and the Russell 2000® Index, fully and unconditionally guaranteed by Nomura Holdings, Inc. The notes are unsecured Senior Global Medium-Term Notes, Series A, expected to be issued on December 18, 2025 and maturing on December 16, 2027, with a minimum denomination of $1,000 and a price to the public of 100%.
The notes may be automatically called if on a call observation date the closing value of each index is at or above its call barrier. If called on December 28, 2026, investors receive principal plus a 9.80% call premium; if called on the final valuation date in 2027, they receive principal plus a 19.60% call premium. If the notes are not called and the least performing index finishes below its barrier value of 70% of its initial level, the payoff at maturity is $1,000 plus $1,000 times the index performance, so investors can lose up to 100% of principal.
The notes pay no periodic interest, will not be listed on any securities exchange and are subject to the credit risk of Nomura. The estimated value at pricing is expected to be between $949.00 and $979.00 per $1,000 principal amount, less than the issue price, reflecting structuring costs and dealer compensation of up to $4.50 per $1,000.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering unsecured Autocallable Contingent Coupon Barrier Notes linked to the least performing of the Russell 2000 Index, Nasdaq-100 Technology Sector Index and S&P 500 Index, maturing in December 2028.
The notes pay a contingent monthly coupon of at least 1.021% (equivalent to at least 12.25% per year) only if on each observation date all three indexes are at or above 75% of their initial levels. Starting in September 2026, the notes are automatically called at par plus the applicable coupon if on a call observation date all three indexes are at or above 100% of their initial levels.
If the notes are not called, principal is protected at maturity only if the least performing index is at or above 70% of its initial level; otherwise repayment is reduced 1-for-1 with the index loss and investors can lose their entire investment. The estimated value at trade date is expected to be between $946.10 and $976.10 per $1,000, below the 100% price to public, and the notes are not bank deposits or FDIC insured.
Nomura America Finance, LLC, fully guaranteed by Nomura Holdings, Inc., is offering issuer redeemable contingent coupon barrier notes linked to the worst performer of the S&P 500, Russell 2000 and Nasdaq-100 indices, maturing December 19, 2030. The notes pay a contingent monthly coupon of at least 0.8917% (at least 10.70% per year) only when all three indices are at or above 70% of their initial levels on each observation date. If the issuer calls the notes on any optional redemption date starting December 21, 2026, investors receive principal plus any due coupon. If the notes are not redeemed and the worst-performing index finishes below 70% of its initial level at maturity, investors lose principal in line with that decline, up to a total loss. The estimated value at pricing is expected between $940.60 and $970.60 per $1,000, below the 100% issue price, reflecting fees, hedging costs and structuring margins.