May 12, 2023 and Prospectus datedMay 12, 2023) $11,789,000Jefferies Jefferies Financial Group Inc. We have the right to redeem the Notes, in whole or in part, on each Optional Redemption Date. Subject to our redemption right, the amount of interest payable on the Notes will be 5.00%from and including the Original Issue Date to, but excluding, the stated maturity date (January 20, 2032). All payments on the Notes, including the repayment of principal, are subject to thecredit risk of Jefferies Financial Group Inc. Interest Payment Dates:Day-Count Convention:Redemption: Optional Redemption Dates:Specified Currency:CUSIP/ISIN:Book-entry or Certificated Note:Business Day: New York. If any Interest Payment Date, any Optional Redemption Date or the Maturity Date occurs on a day that is not a Business Day,any payment owed on such date will be postponed as described in “The Notes” below. Jefferies LLC, a wholly-owned subsidiary of Jefferies Financial Group Inc. See “Supplemental Plan of Distribution.” General corporate purposes NoneJefferies LLC, the broker-dealer subsidiary of Jefferies Financial Group Inc., is a member of FINRA and will participate in the distributionof the notes being offered hereby. Accordingly, the offering is subject to the provisions of FINRA Rule 5121 relating to conflicts of interestand will be conducted in accordance with the requirements of Rule 5121. See “Conflict of Interest.” The Notes will be our senior unsecured obligations and will rank equally with our other senior unsecured indebtedness. (1) The Agent may purchase the Notes for sale to certain fee-based advisory accounts and may forgo some or all of their underwriting discounts and commissions. The price for investorspurchasing the Notes in these accounts will be reduced by an amount that will be up to such forgone underwriting discounts and commissions. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this pricingsupplement or the accompanying prospectus or either prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense. JefferiesPricing supplement dated January 15, 2026. You should read this document together with the related prospectus and prospectus supplement,each of which can be accessed via the hyperlinks below, before you decide to invest.Prospectus supplement dated May 12, 2023 and Prospectus dated May 12, 2023 You should rely only on the information contained in or incorporated by reference in this pricing supplement and theaccompanying prospectus and prospectus supplements. We have not authorized anyone to provide you with differentinformation. We are not making an offer of these securities in any state where the offer is not permitted. You should not Table of Contents SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS This pricing supplement and the accompanying prospectus and prospectus supplement contain or incorporate by reference “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Securities Act”)and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not statements of historical fact andrepresent only our belief as of the date such statements are made. There are a variety of factors, many of which are beyond our control,which affect our operations, performance, business strategy and results and could cause actual reported results and performance todiffer materially from the performance and expectations expressed in these forward-looking statements. These factors include, but arenot limited to, financial market volatility, actions and initiatives by current and future competitors, general economic conditions, controlsand procedures relating to the close of the quarter, the effects of current, pending and future legislation or rulemaking by regulatory or Table of Contents RECENT DEVELOPMENTS On January 7, 2026, Jefferies Financial Group Inc. announced its unaudited preliminary financial results for the three months and yearended November 30, 2025: Highlights for the three months ended November 30, 2025: •Investment Banking Net Revenues of $1.19 billion•Capital Markets Net Revenues of $692 million Highlights for the year ended November 30, 2025: •Investment Banking Net Revenues of $3.79 billion•Capital Markets Net Revenues of $2.82 billion Amounts herein pertaining to the periods ended November 30, 2025 represent a preliminary estimate and may be revised in our AnnualReport on Form 10-K for the year ended November 30, 2025. The above preliminary financial data included in this prospectus supplement has been prepared by and is the responsibility of Jefferies’management. Deloitte & Touche LLP, Jefferies’ independent public accountant, has not audited, reviewed, compiled or performed anyprocedures with respect to the accompanying preliminary fin