Jefferies Financial Group Inc美股招股说明书(2026-03-10版)

The information in this preliminary pricing supplement is not complete and may be changed without notice. This preliminary pricing supplement is not an offerto sell these securities, nor a solicitation of an offer to buy these securities, in any jurisdiction where the offering is not permitted. PRELIMINARY PRICING SUPPLEMENT(to Product Supplement no. 1, dated May 18, 2023,Prospectus Supplement dated May 12,2023 and Prospectus dated May 12, 2023) SUBJECT TO COMPLETION, DATED March 10, 2026 $Jefferies Linked to the Worst-Performing of the Common Stock of Salesforce, Inc., the Common Stock of Humana Inc. and the Common Stock of TransDigm Group IncorporatedThe Senior Autocallable Leveraged Buffered Notes due March 18, 2031 Linked to the Worst-Performing of the Common Stock of Salesforce, Inc., the Common Stock of Humana Inc. and the Common Stock ofTransDigm Group Incorporated (the “Notes”) are senior unsecured obligations of Jefferies Financial Group Inc.The Notes will pay no interest and have the terms described in the accompanying productsupplement, prospectus supplement and prospectus, as supplemented or modified by this pricing supplement.The Notes will be automatically called if the Observation Value of each Underlying on the CallObservation Date (June 15, 2026) is equal to or greater than its Call Value.If your Notes are called, you will receive the Call Payment on the Call Payment Date, and no further amounts will be payable on theNotes. If your Notes are not called, at maturity, if the Worst-Performing Underlying hasappreciatedin value, investors will receive the Stated Principal Amount of their investment plus 150.00% of the upsideperformance of the Worst-Performing Underlying.If the Worst-Performing Underlying hasdepreciatedin value, but the Worst-Performing Underlying has not declined below its Threshold Value, investors willreceive the Stated Principal Amount. However, if the Worst-Performing Underlying has declined below its Threshold Value, investors will lose approximately 1.42857% of the Stated Principal Amount for every 1%decline in the Final Value of the Worst-Performing Underlying from its Initial Value.Investors may lose up to 100% of the Stated Principal Amount of the Notes.The Notes are issued as part of our Series A GlobalMedium-Term Notes program.All payments are subject to our credit risk.If we default on our obligations, you could lose some or a significant portion of your investment.These Notes are not secured obligations and you willnot have any security interest in, or otherwise have any access to, any Underlying.SUMMARY OF TERMSIssuer:Jefferies Financial Group Inc.TitleoftheNotes:Senior Autocallable Leveraged Buffered Notes due March 18, 2031 Linked to the Worst-Performing of the Common Stock of Salesforce, Inc., the Common Stock of Humana Inc. and the Common Stock ofTransDigm Group IncorporatedAggregatePrincipalAmount:$. We may increase the Aggregate Principal Amount prior to the Original Issue Date but are not required to do so.IssuePrice:$1,000 per NoteStatedPrincipalAmount$1,000 per NotePricingDate:March 13, 2026OriginalIssueDate:March 18, 2026 (3 Business Days after the Pricing Date)CallObservatJune 15, 2026. The Call Observation Date is subject to postponement as described in the accompanying product supplement. Jefferies Financial Group Inc.Senior Autocallable Leveraged Buffered Notes due March 18, 2031 CalJune 18, 2026. The Call Payment Date may be postponed if the related Call Observation Date is postponed as described in the accompanying product supplement. ValMarch 13, 2031, subject to postponement as described in the accompanying product supplement. March 18, 2031, which may be postponed if the Valuation Date is postponed as described in the accompanying product supplement. The worst-performing of the common stock of Salesforce, Inc. (NYSE symbol: “CRM”), the common stock of Humana Inc. (NYSE symbol: “HUM”) and the common stock of TransDigm Group Incorporated (NYSEsymbol: “TDG”) (each an “Underlying Company” and collectively, the “Underlying Companies”). Please see “The Underlyings” below. derlying: WoThe Underlying with the lowest Underlying Return. The Notes will be automatically called if the Observation Value of each Underlying on the Call Observation Date is equal to or greater than its Call Value.If your Notes are called, you will receive the Call Paymenton the Call Payment Date, and no further amounts will be payable on the Notes. PayIf the Final Value of the Worst-Performing Underlying is greater than its Initial Value, you will receive for each Note that you hold a Payment at Maturity equal to:Stated Principal Amount × (1+ ParticipationRate × Underlying Return of the Worst-Performing Underlying). If the Final Value of the Worst-Performing Underlying is less than or equal to its Initial Value but greater than or equal to its Threshold Value, you will receive for each Note that you hold a Payment atMaturity that is equal to the Stated Principal Amou