Filed pursuant to Rule 424(b)(2)
Registration No. 333-271881
Jefferies Financial Group Inc.
Market Linked Securities
|
Market Linked Securities— Auto-Callable with Upside Participation and Fixed Percentage Buffered Downside
Principal at Risk Securities Linked to the S&P 500® Index due January 4, 2029
Term Sheet to Preliminary Pricing Supplement dated December 2, 2025
|
Summary of Terms
|
Issuer:
|
Jefferies Financial Group Inc.
|
||
|
Market Measure:
|
S&P 500® Index (the “Index”)
|
||
|
Pricing Date*:
|
December 29, 2025
|
||
|
Issue Date*:
|
January 2, 2026
|
||
|
Face Amount and
Original Offering
Price:
|
$1,000 per security
|
||
|
Automatic Call:
|
If the closing level of the Index on the call date is greater than or equal to starting level, the securities will be automatically called for the face amount plus the call
premium.
|
||
|
Call Date*:
|
January 4, 2027
|
||
|
Call Premium:
|
At least 9.05% of the face amount (to be determined on the pricing date)
|
||
|
Call Settlement Date:
|
Three business days after the applicable call date.
|
||
|
Maturity Payment
Amount (per security)
if the securities are
not automatically
called:
|
• if the
ending level is greater than the starting level: $1,000 plus $1,000 × index return × upside participation rate;
• if the
ending level is equal to or less than the starting level, but greater than or equal to the threshold level:
$1,000; or
• if the ending level is less
than the threshold level:
$1,000 + [$1,000 × (index return + buffer amount)]
|
||
|
Stated Maturity
Date*:
|
January 4, 2029
|
||
|
Starting Level:
|
The closing level of the Index on the pricing date
|
||
|
Ending Level:
|
The closing level of the Index on the calculation day
|
||
|
Threshold Level:
|
90% of the starting level
|
||
|
Buffer Amount:
|
10%
|
||
|
Upside Participation
Rate:
|
100%
|
||
|
Index Return:
|
(ending level – starting level) / starting level
|
||
|
Final Calculation
Day*:
|
December 29, 2028
|
||
|
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 2.575%; dealers, including those using the trade name Wells Fargo Advisors (“WFA”), may receive a selling concession of up to 2.00% and WFS may pay 0.075% of
the agent’s discount to WFA as a distribution expense fee
|
||
|
CUSIP:
|
47233YQS7
|
||
|
Material Tax
Consequences:
|
See the preliminary pricing supplement.
|
Hypothetical Payout Profile***
***assumes a call premium of 9.05% of the face amount. The actual call premium will be determined on the pricing date.
If the securities are automatically called, the positive return on the securities will be limited to the call premium, and you will not participate in any appreciation of the Index
beyond the call premium, which may be significant. If the securities are automatically called, you will no longer have the opportunity to participate in any appreciation of the Index at the upside participation rate.
If the securities are not automatically called, and the ending level is less than the threshold level, you will have 1-to-1 downside exposure to the decrease in the level of the Index
in excess of the buffer amount, and will lose some, and possibly up to 90%, of the face amount of your securities at maturity.
We estimate that the value of each security on the pricing date will be approximately $963.00, or within $30.00 of that estimate. See “Estimated Value of the
Securities” in the accompanying preliminary pricing supplement for more information.
Preliminary Pricing Supplement: https://www.sec.gov/Archives/edgar/data/96223/00011403612504
3948/ef20060166_424b2.htm
3948/ef20060166_424b2.htm
|
*subject to change
** In addition, selected dealers may receive a fee of up to 0.20% for marketing and other services
|
The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected Risk
Considerations” in this term sheet and the accompanying preliminary pricing supplement and “Risk Factors” in the accompanying product supplement.
This introductory term sheet does not provide all of the information that an investor should consider prior to
making an investment decision.
Investors should carefully review the accompanying preliminary pricing supplement, product supplement, prospectus supplement and
prospectus before making a decision to invest in the securities.
NOT A BANK DEPOSIT AND NOT INSURED OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY
Selected Risk Considerations
The risks set forth below are discussed in detail in the “Selected Risk Considerations” section in the accompanying
preliminary pricing supplement and the “Risk Factors” section in the accompanying product supplement. Please review those risk disclosures carefully.
| • |
If The Securities Are Not Automatically Called And The Ending Level Is Less Than The Threshold Level, You Will Lose Some, And Possibly Up To 90%, Of The
Face Amount Of Your Securities At Maturity.
|
| • |
No Periodic Interest Will Be Paid On The Securities.
|
| • |
If The Securities Are Automatically Called, The Return On The Securities Will Be Limited To The Call Premium.
|
| • |
The Securities Are Subject To A Potential Automatic Call, Which Would Limit Your Ability To Receive Further Payment On The Securities.
|
| • |
The Call Settlement Date Or The Stated Maturity Date May Be Postponed If The Call Date Or The Final Calculation Day Is Postponed.
|
| • |
The Tax Consequences Of An Investment In Your Securities Are Uncertain.
|
| • |
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 The Index And Therefore The Securities
Are Subject To The Risks Associated With The Index, As Discussed In The Accompanying Pricing Supplement and Product Supplement.
|
| • |
Our Economic Interests And Those Of Any Dealer Participating In The Offering Are Potentially Adverse To Your Interests.
|
|
|
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that
registration statement and other documents that the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, the issuer, any agent or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling your financial advisor or by calling Jefferies LLC.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of
Wells Fargo Finance LLC and Wells Fargo & Company.
2