杰弗里金融集团股份有限公司美股招股说明书(2025-06-02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 soliciting an offerto buy these securities in any jurisdiction where the offer or sale is not permitted.Subject To Completion, dated June 2, 2025 PRELIMINARY PRICING SUPPLEMENT dated June 2, 2025(To Product Supplement No. 2 dated June 30, 2023Prospectus Supplement dated May 12, 2023and Prospectus dated May 12, 2023) Jefferies Financial Group Inc. Medium-Term Notes, Series AEquity Linked SecuritiesMarket Linked Securities—Leveraged Upside Participationto a Cap and Fixed Percentage Buffered Downside Principal at Risk Securities Linked to a Basket of Three Financial Sector Stocksdue July 1, 2027■Linked to an approximately equally-weighted Basket comprised of the common stock of JPMorgan Chase & Co. (33.34%); the common stock of The Goldman Sachs Group, Inc. (33.33%); and the common stock of Morgan Stanley (33.33%).■Unlike ordinary debt securities, the securities do not pay interest or repay a fixed amount of principal at maturity. Instead, thesecurities provide for a maturity payment amount that may be greater than, equal to or less than the face amount of the percentage increase in the value of the Basket from the starting level, subject to a maximum return at maturity of atleast 28.75% (to be determined on the pricing date) of the face amount. As a result of the maximum return, themaximum maturity payment amount will be at least $1,287.50 ■If the value of the Basket decreases but the decrease is not more than the buffer amount of 15%, you will receive theface amount ■If the value of the Basket decreases by more than the buffer amount, you will receive less than the face amount andhave 1-to-1 downside exposure to the decrease in the value of the Basket in excess of the buffer amount ■All payments on the securities are subject to our credit risk, and you will have no ability to pursue the Underlying StockIssuer of any Basket Component for payment; if we default on our obligations under the securities, you could lose some orall of your investment■No periodic interest payments or dividends We estimate that the value of each security on the pricing date will be approximately $948.00, or within $30.00 of that estimate.Our estimate of the value of thesecurities as determined on the pricing date will be set forth in the final pricing supplement. See “Estimated Value of the Securities” in this pricingsupplement. 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” beginning on page PRS-9 herein and “Risk Factors” beginning on page PS-5 of the accompanying product supplement.The securities are senior unsecured obligations of Jefferies Financial Group Inc. and, accordingly, all payments are subject to our credit risk. If we default onour obligations under the securities, you could lose some or all of your investment. The securities are not savings accounts, deposits or other obligations of adepository institution and are not insured by the Federal Deposit Insurance Corporation, the Deposit Insurance Fund or any other governmental agency. Jefferies Wells Fargo Securities Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Principal at Risk Securities Linked to a Basket of Three Financial Sector Stocksdue July 1, 2027 Additional Information about the Issuer and the Securities You should read this pricing supplement together with product supplement No. 2 dated June 30, 2023, the prospectus supplement dated May12, 2023 and the prospectus dated May 12, 2023 for additional information about the securities. Information included in this pricingsupplement supersedes information in the product supplement, prospectus supplement and prospectus to the extent it is different from that As used in this pricing supplement, “we,” “us” and “our” refer to Jefferies Financial Group Inc., unless the context requires otherwise. You may access the product supplement, prospectus supplement and prospectus on the SEC website www.sec.gov as follows (or if suchaddress has changed, by reviewing our filing for the relevant date on the SEC website): •Product Supplement No. 2 dated June 30, 2023:https://www.sec.gov/Archives/edgar/data/96223/000114036123032428/brhc20055267_424b2.htm•Prospectus Supplement dated May 12, 2023 and Prospectus dated May 12, 2023:https://www.sec.gov/Archives/edgar/data/96223/000114036123024421/ny20009069x3_424b2.htm Market Linked Securities—Leveraged Upside Participation to a