<SEC-DOCUMENT>0001140361-25-001495.txt : 20250121
<SEC-HEADER>0001140361-25-001495.hdr.sgml : 20250121
<ACCEPTANCE-DATETIME>20250121132529
ACCESSION NUMBER:		0001140361-25-001495
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250121
DATE AS OF CHANGE:		20250121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Jefferies Financial Group Inc.
		CENTRAL INDEX KEY:			0000096223
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				132615557
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-271881
		FILM NUMBER:		25541672

	BUSINESS ADDRESS:	
		STREET 1:		520 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2124601900

	MAIL ADDRESS:	
		STREET 1:		520 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEUCADIA NATIONAL CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TALCOTT NATIONAL CORP
		DATE OF NAME CHANGE:	19800603
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>ef20041872_424b5.htm
<DESCRIPTION>DEAL 573
<TEXT>
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                                  <div style="font-weight: bold;">Filed Pursuant to Rule 424(b)(5)</div>
                                  <div style="font-weight: bold;">Registration No. 333-271881</div>
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                                <div style="margin-top: 0px; margin-bottom: 5pt; font-size: 9pt;">The information in this preliminary pricing supplement is not complete and may be changed without notice. This preliminary pricing supplement is not an offer
                                  to sell these securities, nor a solicitation of an offer to buy these securities, in any jurisdiction where the offering is not permitted.</div>
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                                              <div style="color: rgb(0, 0, 0);">PRELIMINARY PRICING SUPPLEMENT</div>
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                                        </div>
                                        <div><font style="font-size: 8pt;">(to Prospectus Supplement dated</font></div>
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                                          <div style="text-align: left; font-size: 12pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant: normal; text-transform: none;">May 12, 2023</font><font style="font-size: 8pt;"> and Prospectus dated</font></div>
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                                        <div><font style="font-size: 8pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">May 12, 2023</font>)</font>
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                                          <div style="margin: 0px 1pt 5pt 0px; color: rgb(250, 0, 28); font-weight: bold;">SUBJECT TO COMPLETION, DATED January 21, 2025 </div>
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                              <div style="text-align: center; font-size: 14pt; font-weight: bold;">$</div>
                              <div style="text-align: center;"><img src="image1.jpg"></div>
                              <div style="text-align: center; font-size: 12pt; font-weight: bold;">Jefferies Financial Group Inc.</div>
                              <div style="text-align: center; font-size: 10pt;">Senior Fixed Rate 20 Year Step-Up Callable Notes due January 31, 2045
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                              <div style="margin: 2pt 1pt 2pt 0px; font-size: 8pt;">
                                <div style="margin-top: 1.8pt;">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 (i) 6.00%
                                  from and including the Original Issue Date to, but excluding, January 31, 2030, and (ii) 7.00% from and including January 31, 2030 to, but excluding, the stated maturity date (January 31, 2045). All payments on the Notes,
                                  including the repayment of principal, are subject to the credit risk of Jefferies Financial Group Inc.</div>
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                                      <div style="font-weight: bold;">SUMMARY OF TERMS</div>
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                                      <div style="font-weight: bold;">Issuer:</div>
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                                      <div>Jefferies Financial Group Inc.</div>
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                                      <div style="font-weight: bold;">Title of the Notes:</div>
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                                        <div>Senior Fixed Rate 20 Year Step-Up Callable Notes due January 31, 2045</div>
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                                      <div style="font-weight: bold;">Aggregate Principal Amount:</div>
                                    </td>
                                    <td style="width: 70%; vertical-align: top;">
                                      <div>$&#160;&#160;&#160; . We may increase the Aggregate Principal Amount prior to the Original Issue Date but are not required to do so.</div>
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                                      <div style="font-weight: bold;">Issue Price:</div>
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                                      <div>$1,000 per Note (100%)</div>
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                                      <div style="font-weight: bold;">Pricing Date:</div>
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                                            <div style="color: rgb(0, 0, 0);">
                                              <div>January&#160; , 2025 </div>
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                                      <div style="font-weight: bold;">Original Issue Date:</div>
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                                      <div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">
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                                          <div style="color: rgb(0, 0, 0);">
                                            <div>January 31, 2025 (&#160; &#160;&#160; Business Days after the Pricing Date) </div>
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                                      <div style="font-weight: bold;">Maturity Date:</div>
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                                                  <div>January 31, 2045 subject to our redemption right.</div>
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                                      <div style="font-weight: bold;">Interest Accrual Date:</div>
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                                      <div style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">
                                        <div style="color: rgb(0, 0, 0);">
                                          <div style="color: rgb(0, 0, 0);">January 31, 2025</div>
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                                      <div style="font-weight: bold;">Interest Rate:</div>
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                                      <div>6.00%, from and including the Original Issue Date to, but excluding, January 31, 2030</div>
                                      <div> 7.00%, from and including January 31, 2030 to, but excluding, January 31, 2045<br>
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                                      <div style="font-weight: bold;">Interest Payment Period:</div>
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                                      <div style="margin-top: 0.85pt;">Semi-annual (from and including the last calendar day of each January and July to, but excluding, the last calendar day of the month occurring six months following such month, beginning
                                        January 31, 2025)</div>
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                                      <div style="font-weight: bold;">Interest Payment Dates:</div>
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                                      <div>The last calendar day of each January and July beginning July 31, 2025.</div>
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                                      <div style="font-weight: bold;">Day-Count Convention:</div>
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                                      <div>30/360 (ISDA). Please see &#8220;The Notes&#8221; below.</div>
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                                      <div style="font-weight: bold;">Redemption:</div>
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                                      <div>We will have the right to redeem the Notes, in whole or in part on each Optional<font style="font-weight: bold;">&#160;</font>Redemption Date and pay to you 100% of the stated principal amount per Note plus accrued and
                                        unpaid interest to, but excluding, such Optional Redemption Date. If we elect to redeem the Notes, we will give you notice at least 5 Business Days before the date of such redemption.</div>
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                                      <div style="font-weight: bold;">Optional Redemption Dates:</div>
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                                        <div style="color: rgb(0, 0, 0);">
                                          <div>The last calendar day of each January and July, beginning January 31, 2026 and ending July 31, 2044.</div>
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                                    <td style="width: 30%; vertical-align: top;"><font style="font-weight: bold;">Specified Currency:</font></td>
                                    <td style="width: 70%; vertical-align: top;">
                                      <div>U.S. dollars</div>
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                                      <div style="font-weight: bold;">CUSIP/ISIN:</div>
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                                    <td style="width: 70%; vertical-align: top;"> 47233WHU6 / US47233WHU62<br>
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                                      <div style="font-weight: bold;">Book-entry or Certificated Note:</div>
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                                      <div>Book-entry</div>
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                                      <div style="font-weight: bold;">Business Day:</div>
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                                      <div>New York. If any Interest Payment Date, any Optional Redemption Date or the Maturity<font style="font-weight: bold;">&#160;</font>Date occurs on a day that is not a Business Day, any payment owed on such date will be
                                        postponed as described in &#8220;The Notes&#8221; below.</div>
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                                      <div style="font-weight: bold;">Agent:</div>
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                                      <div>Jefferies LLC, a wholly-owned subsidiary of Jefferies Financial Group Inc. See &#8220;Supplemental Plan of Distribution.&#8221;</div>
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                                      <div style="font-weight: bold;">Trustee:</div>
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                                      <div>The Bank of New York Mellon</div>
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                                      <div style="font-weight: bold;">Use of Proceeds:</div>
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                                      <div>General corporate purposes</div>
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                                      <div style="font-weight: bold;">Listing:</div>
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                                      <div>None</div>
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                                      <div style="font-weight: bold;">Conflict of Interest:</div>
                                    </td>
                                    <td style="width: 70%; vertical-align: top;">
                                      <div>Jefferies LLC, the broker-dealer subsidiary of Jefferies Financial Group Inc., is a member of FINRA<font style="font-weight: bold;">&#160;</font>and will participate in the distribution of the notes being offered
                                        hereby. Accordingly, the offering is subject to the provisions of FINRA Rule 5121 relating to conflicts of interest and will be conducted in accordance with the requirements of Rule 5121. See &#8220;Conflict of Interest.&#8221;</div>
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                              <div style="margin: 3px 0px 0px; font-size: 8pt;">The Notes will be our senior unsecured obligations and will rank equally with our other senior unsecured indebtedness.</div>
                              <div style="margin: 3px 0px 3pt; font-size: 8pt; font-weight: bold;"> Investing in the Notes involves risks that are described in the &#8220;<a href="#RISKFACTORS">Risk Factors</a>&#8221; section beginning on page PS-3 of this pricing
                                supplement.</div>
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                                    <td style="width: 43%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
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                                      <div style="margin: 3pt 0px 0px; font-weight: bold; text-align: center;">PER NOTE</div>
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                                      <div style="margin: 3pt 0px 0px; font-weight: bold; text-align: center;">TOTAL</div>
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                                      <div>Public Offering Price <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div>
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                                    <td style="width: 10%; vertical-align: bottom;">
                                      <div style="text-align: right;">100%</div>
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                                      <div>Underwriting Discounts and Commissions <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div>
                                    </td>
                                    <td style="width: 10%; vertical-align: bottom;">
                                      <div style="text-align: right;">%</div>
                                    </td>
                                    <td style="width: 7%; vertical-align: bottom;"><br>
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                                    <td style="width: 10%; vertical-align: bottom;">$</td>
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                                      <div>Proceeds to Jefferies Financial Group Inc. (Before Expenses)<br>
                                      </div>
                                    </td>
                                    <td style="width: 10%; vertical-align: bottom;">
                                      <div style="text-align: right;">%</div>
                                    </td>
                                    <td style="width: 7%; vertical-align: bottom;"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: bottom;">$</td>
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                              <div>
                                <div style="color: rgb(0, 0, 0); font-size: 10pt;"> <br>
                                </div>
                                <div style="color: rgb(0, 0, 0);">(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 investors
                                  purchasing the Notes in these accounts will be reduced by an amount that will be up to such forgone underwriting discounts and commissions.</div>
                                <div style="color: rgb(0, 0, 0);"> <br>
                                </div>
                              </div>
                              <div style="font-size: 8pt; font-weight: bold;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this pricing supplement or the
                                accompanying prospectus or either prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.</div>
                              <div style="margin: 3px 11pt 0px 0px; font-size: 8pt;">We will deliver the Notes in book-entry form only through The Depository Trust Company on or about January 31, 2025 against payment in immediately available funds.</div>
                              <div><br>
                              </div>
                              <div style="text-align: center; font-size: 14pt; font-weight: bold;">Jefferies</div>
                              <div style="text-align: center; font-size: 12pt;"><font style="font-size: 8pt;">Pricing supplement dated&#160; &#160; &#160; , 2025.</font></div>
                              <font style="font-size: 8pt;"> </font>
                              <div style="text-align: center; font-size: 8pt; font-weight: bold;">You should read this document together with the related prospectus and prospectus supplement, </div>
                              <font style="font-size: 8pt;"> </font>
                              <div style="text-align: center; font-size: 8pt; font-weight: bold;">each of which can be accessed via the hyperlinks below, before you decide to invest.</div>
                              <div>
                                <div style="text-align: center; margin-right: 16.7pt; margin-top: 0.05pt; color: rgb(0, 0, 255); font-size: 8pt;"><a href="https://www.sec.gov/Archives/edgar/data/96223/000114036123024421/ny20009069x3_424b2.htm">Prospectus
                                    supplement dated May 12, 2023 and Prospectus dated May 12, 2023</a></div>
                                <div style="text-align: center; margin-right: 16.7pt; margin-top: 0.05pt; color: rgb(0, 0, 255); font-size: 7pt;"> <br>
                                </div>
                              </div>
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                              <div style="margin-top: 0px; margin-bottom: 12pt; font-size: 10pt; font-weight: bold; text-align: center;">TABLE OF CONTENTS</div>
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                                    <td style="width: 10%; vertical-align: top; text-align: right; font-size: 9.5pt; font-weight: bold;"><u>PAGE</u></td>
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                                      <div style="font-size: 9.5pt; font-weight: bold; text-align: center;">PRICING SUPPLEMENT</div>
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                                    <td style="width: 10%; vertical-align: top; text-align: right;">&#160;</td>
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                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#SPECIALNOTEONFORWARD-LOOK">SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">PS-ii</div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1">
                                      <div style="font-size: 12pt;">
                                        <div style="font-size: 9.5pt; color: rgb(0, 0, 0); text-transform: uppercase;"><a href="#RECENTDEVELOPMENTS">Recent Developments</a></div>
                                      </div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1">PS-1<br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1">&#160;</td>
                                    <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#THENOTES">THE NOTES</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">PS-2</div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#RISKFACTORS">RISK FACTORS</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">
                                        <div>PS-3</div>
                                      </div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#MATERIALUNITEDSTATESFEDER">MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">
                                        <div>PS-4</div>
                                      </div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#SUPPLEMENTALPLANOFDISTRIB">SUPPLEMENTAL PLAN OF DISTRIBUTION</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">
                                        <div>PS-5</div>
                                      </div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#CONFLICTOFINTEREST">CONFLICT OF INTEREST</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="text-align: right; font-size: 9.5pt;">
                                        <div>PS-7</div>
                                      </div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="text-align: justify; font-size: 9.5pt;"><a href="#LEGALMATTERS">LEGAL MATTERS</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="margin: 0px 0px 0px; text-align: right;"><font style="font-size: 9.5pt;">PS-8</font></div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;" rowspan="1"><br>
                                    </td>
                                    <td style="width: 10%; vertical-align: top; text-align: right;" rowspan="1"><br>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="width: 90%; vertical-align: top;">
                                      <div style="margin: 0px 0px 5pt; text-align: justify; font-size: 9.5pt;"><a href="#EXPERTS">EXPERTS</a></div>
                                    </td>
                                    <td style="width: 10%; vertical-align: top;">
                                      <div style="margin: 0px 0px 5pt; text-align: right;"><font style="font-size: 9.5pt;">PS-9</font></div>
                                    </td>
                                  </tr>

                              </table>
                              <div>
                                <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 1px; color: #000000; text-align: center;"></div>
                              <div style="margin: 6pt 1pt 0px 0px; font-weight: bold; text-align: justify; font-size: 9.5pt;">You should rely only on the information contained in or incorporated by reference in this pricing supplement and the accompanying
                                prospectus and prospectus supplements. We have not authorized anyone to provide you with different information. We are not making an offer of these securities in any state where the offer is not permitted. You should not
                                assume that the information contained in this pricing supplement or the accompanying prospectus is accurate as of any date later than the date on the front of this pricing supplement.</div>
                              <div style="font-weight: 400;"> <br>
                              </div>
                              <div class="BRPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                                <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">PS-i</font></div>
                                <div class="BRPFPageBreak" style="page-break-after:always;">
                                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="SPECIALNOTEONFORWARD-LOOK"><!--Anchor--></a>SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS</div>
                              <div style="font-size: 9.5pt;">This pricing supplement and the accompanying prospectus and prospectus supplement contain or incorporate by reference &#8220;forward-looking statements&#8221; within the meaning of the safe harbor provisions
                                of Section 27A of the Securities Act of 1933 (the &#8220;Securities Act&#8221;) and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not statements of historical fact and represent 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 to differ materially from the performance and expectations expressed in these forward-looking statements. These factors include, but are not limited to, financial market volatility, actions and initiatives by
                                current and future competitors, general economic conditions, controls and procedures relating to the close of the quarter, the effects of current, pending and future legislation or rulemaking by regulatory or self-regulatory
                                bodies, regulatory actions, and the other risks and uncertainties that are outlined in our Annual Report on Form 10-K for the fiscal year ended November 30, 2023 filed with the U.S. Securities and Exchange Commission, or the
                                SEC, on January 26, 2024 (the &#8220;Annual Report on Form 10-K&#8221;) and in our Quarterly Reports on Form 10-Q for the quarterly periods ended February 29, 2024, May 31, 2024 and August 31, 2024 filed with the SEC on April 5, 2024,
                                July 9, 2024 and October 9, 2024, respectively. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking
                                statements to reflect the impact of circumstances or events that arise after the date of the forward-looking statements.</div>
                              <div style="font-size: 9.5pt;"> <br>
                              </div>
                              <div class="BRPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                                <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">PS-ii</font></div>
                                <div class="BRPFPageBreak" style="page-break-after: always;">
                                  <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <!--PROfilePageNumberReset%Num%1%PS-%%-->
                              <div>
                                <div style="text-align: center; margin-bottom: 12pt; font-size: 10pt; font-weight: bold;"><a name="RECENTDEVELOPMENTS"><!--Anchor--></a>RECENT DEVELOPMENTS</div>
                                <div>On January 8, 2025, Jefferies Financial Group Inc. announced its financial results for its fiscal fourth quarter of 2024:</div>
                                <div><br>
                                </div>
                                <div style="text-align: justify; margin-bottom: 6pt;">Highlights for the three months ended November 30, 2024:</div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z7727623ff7ff4db7850fde8c4630183d" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Investment Banking Net Revenues of $987 million</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z0bb4f26bb5254110a3b029b5bcec9f76" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Capital Markets Net Revenues of $652 million</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="zbec6c2178dfd47eca6138c98a126b6bb" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Asset Management Fees and Revenues and Investment Return of $116 million</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z67c345360a3c4061b1b960b464008e82" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Income Before Income Taxes of $305 million</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z1defe91b07cd454194e8ae21f4846f2a" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Net Income of $206 million (reflects a 28.2% effective tax rate)</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div><br>
                                </div>
                                <div style="text-align: justify; margin-bottom: 6pt;">Highlights for the twelve months ended November 30, 2024:</div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z371bf1e821bd42e3a5e02fdbb8282883" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="vertical-align: top;">
                                          <div>Investment Banking Net Revenues of $3.44 billion</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="zd88dc4291e2447bb8d1c60ee973baf27" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Capital Markets Net Revenues of $2.76 billion</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z5f1f26ce9bac4721928fcfe70f60a506" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Asset Management Fees and Revenues and Investment Return of $316 million</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z61d0c8cbf603419b99b90124eac1f21b" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Income Before Income Taxes of $1 billion</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div>
                                  <table cellspacing="0" cellpadding="0" id="z35965a8a07114cc88528cf6213e10a18" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                                      <tr>
                                        <td style="width: 18pt;">&#160;</td>
                                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                                          <div style="text-align: left;">&#8226;</div>
                                        </td>
                                        <td style="width: auto; vertical-align: top;">
                                          <div>Net Income of $669 million (reflects a 29.2% effective tax rate)</div>
                                        </td>
                                      </tr>

                                  </table>
                                </div>
                                <div><br>
                                </div>
                                <div>Amounts herein pertaining to November 30, 2024 represent a preliminary estimate as of the date of the earnings release and may be revised in our Annual Report on Form 10-K for the year ended November 30, 2024.</div>
                                <div><br>
                                </div>
                                <div>The above preliminary financial data included in this pricing supplement has been prepared by and is the responsibility of Jefferies&#8217; management. Deloitte &amp; Touche LLP, Jefferies&#8217; independent public accountant, has
                                  not audited, reviewed, compiled or performed any procedures with respect to the accompanying preliminary financial data. Accordingly, Deloitte &amp; Touche LLP does not express an opinion or any other form of assurance
                                  with respect thereto.</div>
                                <div style="margin-bottom: 12pt;"><br>
                                </div>
                              </div>
                              <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" class="BRPFPageBreakArea">
                                <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);" class="BRPFPageNumber">PS-1</font></div>
                                <div style="page-break-after: always;" class="BRPFPageBreak">
                                  <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;">THE NOTES<a name="THENOTES"><!--Anchor--></a></div>
                              <div style="margin-right: 6pt; font-size: 9.5pt;">The Notes offered are our debt securities. We describe the basic features of these Notes in the sections of the accompanying prospectus called &#8220;Description of Securities We May
                                Offer&#8212;Debt Securities&#8221; and the prospectus supplement called &#8220;Description of Notes,&#8221; subject to and as modified by any provisions described below and in the &#8220;Summary of Terms&#8221; on the cover page of this pricing supplement. All
                                payments on the Notes are subject to our credit risk.</div>
                              <div style="margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt;">If any Interest Payment Date, any Optional Redemption Date or the Maturity Date occurs on a day that is not a Business Day, then the payment owed on such date
                                will be postponed until the next succeeding Business Day. No additional interest will accrue on the Notes as a result of such postponement, and no adjustment will be made to the length of the relevant Interest Payment
                                Period.</div>
                              <div style="margin-right: 12.95pt; margin-bottom: 6pt; font-size: 9.5pt;">&#8220;30/360 (ISDA)&#8221; means the number of days in the Interest Payment Period in respect of which payment is being made divided by 360, calculated on a
                                formula basis as follows, as described in Section 4.16(f) of the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, without regard to any subsequent amendments or supplements:</div>
                              <div style="font-size: 9.5pt;">
                                <table cellspacing="0" cellpadding="2" border="0" align="center" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 1%;" id="z32441365d1fc47c9bd4881734691ead1">

                                    <tr>
                                      <td nowrap="nowrap" style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0);">
                                        <div>
                                          <div style="font-size: 9.5pt;">[360 &#215; (Y2 &#8211; Y1)] + [30 &#215; (M2 &#8211; M1)] + (D2 &#8211;D1)</div>
                                        </div>
                                      </td>
                                    </tr>
                                    <tr>
                                      <td style="width: 1%; font-size: 9.5pt;">
                                        <div style="text-align: center;">360</div>
                                      </td>
                                    </tr>

                                </table>
                              </div>
                              <div style="margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt; font-weight: bold;">where:</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-left: 18pt; font-size: 9.5pt;">&#8220;Y1&#8221; is the year, expressed as a number, in which the first day of the Interest Payment Period falls;</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div><font style="font-size: 9.5pt;"><br>
                                </font> </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 16pt; margin-left: 18pt; font-size: 9.5pt;">&#8220;Y2&#8221; is the year, expressed as a number, in which the day immediately following the last day included in the Interest Payment Period falls;</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div><font style="font-size: 9.5pt;"><br>
                                </font> </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-left: 18pt; font-size: 9.5pt;">&#8220;M1&#8221; is the calendar month, expressed as a number, in which the first day of the Interest Payment Period falls;</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div><font style="font-size: 9.5pt;"><br>
                                </font> </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 31pt; margin-left: 18pt; font-size: 9.5pt;">&#8220;M2&#8221; is the calendar month, expressed as a number, in which the day immediately following the last day included in the Interest Payment Period falls;</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div><font style="font-size: 9.5pt;"><br>
                                </font> </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 23pt; margin-left: 18pt; font-size: 9.5pt;">&#8220;D1&#8221; is the first calendar day, expressed as a number, of the Interest Payment Period, unless such number would be 31, in which case D1 will be 30; and</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div><font style="font-size: 9.5pt;"><br>
                                </font> </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 16pt; margin-left: 18pt; font-size: 9.5pt;">&#8220;D2&#8221; is the calendar day, expressed as a number, immediately following the last day included in the Interest Payment Period, unless such number would be 31
                                and D1 is greater than 29, in which case D2 will be 30.</div>
                              <div style="font-size: 9.5pt;"><br>
                                <div style="font-weight: bold;">Valuation of the Notes</div>
                                <br>
                                <div>For an initial period following the issuance of the Notes (the &#8220;Temporary Adjustment Period&#8221;), the value that will be indicated for the Notes on any brokerage account statements prepared by Jefferies LLC or its
                                  affiliates (which value Jefferies LLC may also publish through one or more financial information vendors) will reflect a temporary upward adjustment from the price or value that would otherwise be determined. This
                                  temporary upward adjustment represents amounts which may include, but are not limited to, profits, fees, underwriting discounts and commissions and hedging and other costs expected to be paid or realized by Jefferies LLC
                                  or its affiliates, or other unaffiliated brokers or dealers, over the term of the Notes. The amount of this temporary upward adjustment will decline to zero on a straight-line basis over the Temporary Adjustment Period.</div>
                              </div>
                              <div> <br>
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                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="RISKFACTORS"><!--Anchor--></a>RISK FACTORS</div>
                              <div style="margin: 0px 15pt 6pt 0px; font-size: 9.5pt; font-style: italic;">In addition to the other information contained and incorporated by reference in this pricing supplement and the accompanying prospectus and
                                prospectus supplement including the section entitled &#8220;Risk Factors&#8221; in our Annual Report on Form 10-K, you should consider carefully the following factors before deciding to purchase the Notes.</div>
                              <div style="margin: 0px 0px 6pt; font-size: 9.5pt; font-weight: bold;">
                                <div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; font-style: normal; font-variant: normal; text-transform: none;"><u>Structure-related Risks</u></div>
                              </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin: 6pt 0px; font-size: 9.5pt; font-style: italic; font-weight: bold;">We may redeem the Notes, in which case you will receive no further interest payments.</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin: 0px 9pt 6pt 0px; font-size: 9.5pt;">We retain the option to redeem the Notes, in whole or in part, on each Optional Redemption Date on at least 5 Business Days&#8217; prior notice. It is more likely that we will
                                redeem the Notes in whole prior to their stated maturity date to the extent that the interest payable on the Notes is greater than the interest that would be payable on our other instruments of a comparable maturity, terms
                                and credit rating trading in the market. If the Notes are redeemed, in whole or in part, prior to their stated maturity date, you will receive no further interest payments from the Notes redeemed and may have to re-invest
                                the proceeds in a lower rate environment. Although the interest rate is scheduled to step up during the life of the Notes, you will not benefit from any increase in the interest rate that would follow a redemption of the
                                Notes prior to maturity.<br>
                                <br>
                              </div>
                              <div style="margin-right: 9pt; font-size: 9.5pt;">
                                <div style="color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: bold; font-style: normal; font-variant: normal; text-transform: none;"><u>Valuation- and Market-related Risks</u></div>
                              </div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 4.3pt; margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt; font-style: italic; font-weight: bold;">The price at which the Notes may be resold may be substantially less than the amount for which
                                they were originally purchased.</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 8pt; font-size: 9.5pt;">The price at which the Notes may be resold prior to maturity will depend on a number of factors and may be substantially less than the amount for which they were originally
                                purchased. Some of these factors include, but are not limited to: (i) changes in U.S. interest rates, (ii) any actual or anticipated changes in our credit ratings or credit spreads and (iii) time remaining to maturity.</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt; font-style: italic; font-weight: bold;">The inclusion of commissions and projected profit from hedging in the original issue price is likely to adversely
                                affect secondary market prices.</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 4pt; font-size: 9.5pt;">Assuming no change in market conditions or any other relevant factors, the price, if any, at which Jefferies LLC would be willing to purchase the Notes at any time in secondary
                                market transactions will likely be significantly lower than the original issue price, since secondary market prices are likely to exclude commissions paid with respect to the Notes and the cost of hedging our obligations
                                under the Notes that will be included in the original issue price. The cost of hedging includes the projected profit that our subsidiaries may realize in consideration for assuming the risks inherent in managing the hedging
                                transactions. These secondary market prices are also likely to be reduced by the costs of unwinding the related hedging transactions. In addition, any secondary market prices may differ from values determined by pricing
                                models used by Jefferies LLC, as a result of dealer discounts, mark-ups or other transaction costs. </div>
                              <div style="margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt; font-style: italic; font-weight: bold;">The Notes will not be listed on any securities exchange and secondary trading may be limited.</div>
                              <font style="font-size: 9.5pt;"> </font>
                              <div style="margin-right: 1pt; font-size: 9.5pt;">The Notes will not be listed on any securities exchange. Therefore, there may be little or no secondary market for the Notes. Jefferies LLC may, but is not obligated to, make a
                                market in the Notes. Even if there is a secondary market, it may not provide enough liquidity to allow you to trade or sell the Notes easily, and any redemption by us in part but not in whole may further reduce any liquidity
                                in the Notes that may exist at that time. Because we do not expect that other broker-dealers will participate significantly in the secondary market for the Notes, the price at which you may be able to trade your Notes is
                                likely to depend on the price, if any, at which Jefferies LLC is willing to transact. If at any time Jefferies LLC were not to make a market in the Notes, it is likely that there would be no secondary market for the Notes.
                                You will have no right to require us to redeem the Notes prior to their maturity on January 31, 2045. Accordingly, you should be willing to hold your Notes to maturity.</div>
                              <div> <br>
                              </div>
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                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="MATERIALUNITEDSTATESFEDER"><!--Anchor--></a>MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES</div>
                              <div style="font-size: 9.5pt;">The following discussion supplements the discussion in the prospectus dated May 12, 2023 under the heading &#8220;United States Federal Taxation&#8221; and supersedes it to the extent inconsistent therewith.
                                The following discussion (in conjunction with the discussion in the prospectus dated May 12, 2023) summarizes certain of the material U.S. federal income tax consequences of the purchase, beneficial ownership, and
                                disposition of the Notes.</div>
                              <div style="margin-top: 4.8pt; font-size: 9.5pt;">In the opinion of Sidley Austin LLP, interest on a Note will be taxable to a U.S. Holder as ordinary interest income at the time it accrues or is received in accordance with
                                the U.S. Holder&#8217;s normal method of accounting for tax purposes (regardless of whether we call the Notes). Upon the disposition of a Note by sale, exchange, redemption or retirement (i.e., if we exercise our right to call the
                                Notes or otherwise) or other disposition, a U.S. Holder will generally recognize capital gain or loss equal to the difference, if any, between (i) the amount realized on the disposition (other than amounts attributable to
                                accrued but unpaid interest, which would be treated as such) and (ii) the U.S. Holder&#8217;s adjusted tax basis in the Note. A U.S. Holder&#8217;s adjusted tax basis in a Note generally will equal the cost of the Note to the U.S.
                                Holder. The deductibility of capital losses is subject to significant limitations. See &#8220;United States Federal Taxation&#8212;U.S. Holders&#8212;Payments of Stated Interest&#8221; and &#8220;United States Federal Taxation&#8212;U.S. Holders&#8212;Discount
                                Notes&#8212;Notes Subject to Early Redemption&#8221; in the prospectus dated May 12, 2023.</div>
                              <div style="margin-top: 4.9pt; font-size: 9.5pt;">Prospective purchasers are urged to consult their own tax advisors regarding the federal, state, local and other tax consequences to them of an investment in the Notes.</div>
                              <div style="margin-top: 4.8pt; font-size: 9.5pt;">The discussion in the preceding paragraphs under &#8220;Material United States Federal Income Tax Consequences,&#8221; and, notwithstanding anything to the contrary contained therein, the
                                discussion contained in the section entitled &#8220;United States Federal Taxation&#8221; in the accompanying prospectus dated May 12, 2023, insofar as such discussions purport to describe provisions of U.S. federal income tax laws or
                                legal conclusions with respect thereto, constitutes the full opinion of Sidley Austin LLP regarding the material U.S. federal tax consequences of an investment in the Notes.</div>
                              <div> <br>
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                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="SUPPLEMENTALPLANOFDISTRIB"><!--Anchor--></a>SUPPLEMENTAL PLAN OF DISTRIBUTION</div>
                              <div style="margin: 0px 0px 0px 0px; font-size: 9.5pt;">
                                <div>Jefferies LLC, the broker-dealer subsidiary of Jefferies Financial Group Inc., will act as our Agent in connection with the offering of the Notes. Subject to the terms and conditions contained in a distribution
                                  agreement between us and Jefferies LLC, the Agent has agreed to use its reasonable efforts to solicit purchases of the Notes. We have the right to accept offers to purchase Notes and may reject any proposed purchase of the
                                  Notes. The Agent may also reject any offer to purchase Notes. We or Jefferies LLC will pay various discounts and commissions to dealers of $ &#160; &#160; per Note depending on market conditions.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 investors purchasing the Notes in these accounts will be reduced by an amount that will
                                  be up to such foregone underwriting discounts and commissions.</div>
                              </div>
                              <div style="margin: 6pt 0px 6pt 0px; font-size: 9.5pt;">We may also sell Notes to the Agent who will purchase the Notes as principal for its own account. In that case, the Agent will purchase the Notes at a price equal to the
                                issue price specified on the cover page of this pricing supplement, less a discount. The discount will equal the applicable commission on an agency sale of the Notes.</div>
                              <div style="margin: 0px 0px 0px 0px; font-size: 9.5pt;">The Agent may resell any Notes it purchases as principal to other brokers or dealers at a discount, which may include all or part of the discount the Agent received from
                                us. If all the Notes are not sold at the initial offering price, the Agent may change the offering price and the other selling terms.</div>
                              <div style="margin-right: 0.7pt; margin-top: 6pt; margin-bottom: 6pt; font-size: 9.5pt;">The Agent will sell any unsold allotment pursuant to this prospectus from time to time in one or more transactions in the
                                over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of time of sale, prices relating to the prevailing market prices or negotiated prices.</div>
                              <div style="font-size: 9.5pt;">We may also sell Notes directly to investors. We will not pay commissions on Notes we sell directly. </div>
                              <div style="margin: 6pt 0px 6pt 0px; font-size: 9.5pt;">The Agent, whether acting as agent or principal, may be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act. We have agreed to indemnify the Agent
                                against certain liabilities, including liabilities under the Securities Act.</div>
                              <div style="font-size: 9.5pt;">If the Agent sells Notes to dealers who resell to investors and the Agent pays the dealers all or part of the discount or commission it receives from us, those dealers may also be deemed to be
                                &#8220;underwriters&#8221; within the meaning of the Securities Act.</div>
                              <div style="margin: 6pt 0px 6pt 0px; font-size: 9.5pt;">The Agent is offering the Notes, subject to prior sale, when, as and if issued to and accepted by it, subject to approval of legal matters by its counsel, including the
                                validity of the Notes, and other conditions contained in the distribution agreement, such as the receipt by the Agent of officers&#8217; certificates and legal opinions. The Agent reserves the right to withdraw, cancel or modify
                                offers to the public and to reject orders in whole or in part.</div>
                              <div style="margin: 0px 0px 0px 0px; font-size: 9.5pt;">The Agent is a member of the Financial Industry Regulatory Authority, Inc. (&#8220;FINRA&#8221;). Accordingly, the offering of the Notes will conform to the requirements of FINRA
                                Rule 5121. See &#8220;Conflict of Interest&#8221; below.</div>
                              <div style="margin: 6pt 0px 6pt 0px; font-size: 9.5pt;">The Agent is not acting as your fiduciary or advisor solely as a result of the offering of the Notes, and you should not rely upon any communication from the Agent in
                                connection with the Notes as investment advice or a recommendation to purchase the Notes. You should make your own investment decision regarding the Notes after consulting with your legal, tax, and other advisors.</div>
                              <div style="margin: 0px 0px 0px 0px; font-size: 9.5pt;">We may deliver the Notes against payment therefor in New York, New York on a date that is more than one business day following the Pricing Date. Under Rule 15c6-1 of the
                                Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, if the initial settlement of
                                the Notes occurs more than one business day from the Pricing Date, purchasers who wish to trade the Notes more than one business day prior to the Original Issue Date will be required to specify alternative settlement
                                arrangements to prevent a failed settlement.</div>
                              <div style="margin: 6pt 0px 0px 0px; font-size: 9.5pt;">
                                <div style="margin-top: 4.85pt;">Jefferies LLC and any of our other broker-dealer subsidiaries may use this pricing supplement, the prospectus and the prospectus supplements for offers and sales in secondary market
                                  transactions and market-making transactions in the Notes. However, they are not obligated to engage in such secondary market transactions and/or market-making transactions. Our subsidiaries may act as principal or agent in
                                  these transactions, and any such sales will be made at prices related to prevailing market prices at the time of the sale.</div>
                              </div>
                              <div> <br>
                              </div>
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                              </div>
                              <div style="font-size: 9.5pt;">
                                <div style="margin-bottom: 10pt; font-weight: bold;">Notice to Prospective Investors in the European Economic Area</div>
                                <div style="margin-bottom: 10pt;">
                                  <div>This pricing supplement and the accompanying prospectus and prospectus supplement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the &#8220;Prospectus Regulation&#8221;). This pricing supplement and the
                                    accompanying prospectus and prospectus supplement have been prepared on the basis that any offer of Notes in any Member State of the European Economic Area (the &#8220;EEA&#8221;) will only be made to a legal entity which is a
                                    qualified investor under the Prospectus Regulation (&#8220;EEA Qualified Investors&#8221;). Accordingly any person making or intending to make an offer in that Member State of Notes which are the subject of the offering contemplated
                                    in this pricing supplement and the accompanying prospectus and prospectus supplement may only do so with respect to EEA Qualified Investors. Neither the issuer nor the Agent have authorized, nor do they authorize, the
                                    making of any offer of Notes other than to EEA Qualified Investors.</div>
                                </div>
                                <div style="margin-bottom: 10pt; font-size: 7.5pt;"><font style="font-size: 9.5pt; font-weight: bold;">PROHIBITION OF SALES TO EEA RETAIL INVESTORS </font><font style="font-size: 9.5pt;">-&#8211; The Notes are not intended to be
                                    offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, (a) a retail investor means a person who is one (or more)
                                    of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, &#8220;MiFID II&#8221;); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the &#8220;Insurance Distribution
                                    Directive&#8221;), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus Regulation and (b) the
                                    expression &#8220;offer&#8221; includes the communication in any form and by any means of sufficient information on the terms of the offer and the Notes to be offered so as to enable an investor to decide to purchase or subscribe
                                    for the Notes. Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the &#8220;PRIIPs Regulation&#8221;) for offering or selling the Notes or otherwise making them available to retail
                                    investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.</font></div>
                                <div style="font-weight: 400; font-size: 9pt;">
                                  <div style="font-size: 8pt;"><font style="font-size: 9.5pt; font-weight: bold;">MiFID II product governance / Professional investors and ECPs only target market </font><font style="font-size: 9.5pt;"> - Solely for the
                                      purposes of the manufacturer&#8217;s product approval process, the target market assessment in respect of the Notes has led to the conclusion that:&#160; (i) the target market for the Notes is eligible counterparties and
                                      professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate.&#160; Any person subsequently offering,
                                      selling or recommending the Notes (an &#8220;<font style="font-weight: bold;">EU distributor</font>&#8221;) should take into consideration the manufacturer&#8217;s target market assessment; however, an EU distributor subject to MiFID II
                                      is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer&#8217;s target market assessment) and determining appropriate distribution channels.</font></div>
                                </div>
                                <div style="font-weight: 400; font-size: 9pt;"> <br>
                                </div>
                                <div style="margin-bottom: 10pt; font-weight: bold;">Notice to Prospective Investors in the United Kingdom</div>
                                <div style="margin-bottom: 10pt;">This pricing supplement and the accompanying prospectus and prospectus supplement is not a prospectus for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law in the
                                  United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended by the European Union (Withdrawal Agreement) Act 2020 (the &#8220;EUWA&#8221;) (the &#8220;UK Prospectus Regulation&#8221;). This pricing supplement and the
                                  accompanying prospectus and prospectus supplement have been prepared on the basis that any offer of Notes&#160; in the United Kingdom will only be made to a legal entity which is a qualified investor under the UK Prospectus
                                  Regulation (&#8220;UK Qualified Investors&#8221;). Accordingly any person making or intending to make an offer in the United Kingdom of Notes which are the subject of the offering contemplated in this pricing supplement and the
                                  accompanying prospectus and prospectus supplement may only do so with respect to UK Qualified Investors. Neither the issuers nor the Agent have authorized, nor do they authorize, the making of any offer of Notes other than
                                  to UK Qualified Investors.</div>
                                <div style="margin-bottom: 10pt; font-size: 7.5pt;"><font style="font-size: 9.5pt; font-weight: bold;">PROHIBITION OF SALES TO UK RETAIL INVESTORS</font><font style="font-size: 9.5pt;"> &#8211; The Notes are not intended to be
                                    offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom. For these purposes, (a) a retail investor means a person who is one
                                    (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law in the United Kingdom by virtue of the EUWA; or (ii) a customer within the meaning
                                    of the provisions of the United Kingdom&#8217;s Financial Services and Markets Act 2000, as amended (the &#8220;FSMA&#8221;) and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that
                                    customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law in the United Kingdom by virtue of the EUWA; or (iii) not a
                                    qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom by virtue of the EUWA and (b) the expression &#8220;offer&#8221; includes the communication in any form
                                    and by any means of sufficient information on the terms of the offer and the Notes to be offered so as to enable an investor to decide to purchase or subscribe for the Notes. Consequently no key information document
                                    required by Regulation (EU) No 1286/2014 as it forms part of domestic law in the United Kingdom by virtue of the EUWA (the &#8220;UK PRIIPs Regulation&#8221;) for offering or selling the Notes or otherwise making them available to
                                    retail investors in the United Kingdom has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the United Kingdom may be unlawful under the UK PRIIPs
                                    Regulation.</font></div>
                                <div style="margin-bottom: 10pt; font-size: 7.5pt;"><font style="font-size: 9.5pt; font-weight: bold;">UK MiFIR product governance / Professional investors and ECPs only target market</font><font style="font-size: 9.5pt;">&#160;
                                    - Solely for the purposes of each manufacturer&#8217;s product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is only eligible
                                    counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law in the United Kingdom by virtue of the
                                    European Union (Withdrawal) Act 2018, as amended by the European Union (Withdrawal Agreement) Act 2020 (&#8220;<font style="font-weight: bold;">UK MiFIR</font>&#8221;); and (ii) all channels for distribution of the Notes to eligible
                                    counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a &#8220;<font style="font-weight: bold;">UK</font>&#160;<font style="font-weight: bold;">distributor</font>&#8221;)





















































                                    should take into consideration the manufacturers&#8217; target market assessment; however, a UK distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the &#8220;<font style="font-weight: bold;">UK MiFIR Product Governance Rules</font>&#8221;) is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers&#8217; target market assessment) and
                                    determining appropriate distribution channels.</font></div>
                                <div style="margin-bottom: 10pt; font-weight: bold;">Other Regulatory Restrictions in the United Kingdom</div>
                                <div style="margin-bottom: 10pt;">
                                  <div>Any invitation or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) in connection with the issue or sale of the Notes may only be communicated or caused to be communicated in
                                    circumstances in which Section 21(1) of the FSMA does not apply to the issuer.</div>
                                </div>
                                <div>All applicable provisions of the FSMA must be complied with in respect to anything done by any person in relation to the Notes in, from or otherwise involving the United Kingdom.</div>
                                <div style="font-size: 9pt;"> <br>
                                </div>
                                <div style="font-size: 9pt;">
                                  <div style="font-size: 9.5pt;">The communication of this pricing supplement, the accompanying prospectus, the prospectus supplement and any other document or materials relating to the issue of the Notes offered hereby is
                                    not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21of the FSMA. Accordingly, such documents and/or materials are not being distributed to,
                                    and must not be passed on to, the general public in the United Kingdom. This document and such other documents and/or materials are for distribution only to persons who (i) have professional experience in matters
                                    relating to investments and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
                                    &#8220;Financial Promotion Order&#8221;)), (ii) fall within Article 49(2)(a) to (d) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are other persons to whom it may otherwise lawfully be made under
                                    the Financial Promotion Order (all such persons together being referred to as &#8220;relevant persons&#8221;). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant
                                    persons. Any investment or investment activity to which this pricing supplement , the accompanying prospectus, the prospectus supplement and any other document or materials relates will be engaged in only with relevant
                                    persons. Any person in the United Kingdom that is not a relevant person should not act or rely on this pricing supplement, the accompanying prospectus supplement or any of their contents.</div>
                                  <div style="font-size: 5pt;"> <br>
                                  </div>
                                </div>
                              </div>
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                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="CONFLICTOFINTEREST"><!--Anchor--></a>CONFLICT OF INTEREST</div>
                              <div style="font-size: 9.5pt;">
                                <div>Jefferies LLC, the broker-dealer subsidiary of Jefferies Financial Group Inc., is a member of FINRA and will participate in the distribution of the Notes. Accordingly, the offering is subject to the provisions of FINRA
                                  Rule 5121 relating to conflicts of interests and will be conducted in accordance with the requirements of Rule 5121. Jefferies LLC will not confirm sales of the Notes to any account over which it exercises discretionary
                                  authority without the prior written specific approval of the customer.</div>
                              </div>
                              <div> <br>
                              </div>
                              <div class="BRPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                                <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);" class="BRPFPageNumber">PS-7</font></div>
                                <div class="BRPFPageBreak" style="page-break-after:always;">
                                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="LEGALMATTERS"><!--Anchor--></a>LEGAL MATTERS</div>
                              <div style="font-size: 9.5pt;">The validity of the Notes is being passed on for us by Sidley Austin LLP, New York, New York.</div>
                              <div> <br>
                              </div>
                              <div class="BRPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                                <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);" class="BRPFPageNumber">PS-8</font></div>
                                <div class="BRPFPageBreak" style="page-break-after:always;">
                                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="text-align: center; margin-bottom: 10pt; font-size: 10pt; font-weight: bold;"><a name="EXPERTS"><!--Anchor--></a>EXPERTS</div>
                              <div style="font-size: 9.5pt;">The financial statements of Jefferies Financial Group Inc. as of November 30, 2023 and 2022, and for each of the three years in the period ended November 30, 2023, incorporated by reference in
                                this prospectus supplement from Jefferies Financial Group Inc.&#8217;s Annual Report on Form 10-K, and the effectiveness of the Jefferies Financial Group Inc.&#8217;s internal control over financial reporting have been audited by
                                Deloitte &amp; Touche LLP, an independent registered public accounting firm, as stated in their reports. Such financial statements have been so incorporated in reliance upon the reports of such firm given upon their
                                authority as experts in accounting and auditing.</div>
                              <div style="margin-right: 19.9pt; margin-left: 5.6pt; font-size: 9.5pt;"> <br>
                              </div>
                              <div class="BRPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                                <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal; color: rgb(0, 0, 0);" class="BRPFPageNumber">PS-9</font></div>
                                <div class="BRPFPageBreak" style="page-break-after:always;">
                                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                                <div class="BRPFPageHeader" style="width: 100%;"><font style="font-size: 8pt;"><a href="#TABLEOFCONTENTS"><font style="font-style: italic;">
                                        Table of Contents</font></a></font></div>
                              </div>
                              <div style="font-weight: 400;">
                                <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"> </div>
                              <div style="text-align: center; font-size: 16pt; font-weight: bold;"> <br>
                              </div>
                              <div style="text-align: center; font-size: 16pt; font-weight: bold;"> <br>
                              </div>
                              <div style="text-align: center; font-size: 16pt; font-weight: bold;"> <br>
                              </div>
                              <div style="margin: 0px 0px 35pt; font-size: 16pt; font-weight: bold; text-align: center;">$</div>
                              <div style="text-align: center; font-size: 16pt; font-weight: bold;"> </div>
                              <div style="text-align: center;">
                                <div style="margin: 0px 0px 40pt;">
                                  <div><img src="image1.jpg"></div>
                                </div>
                              </div>
                              <div>&#160;<font style="font-size: 16pt;"><br>
                                </font> </div>
                              <font style="font-size: 16pt;"> </font>
                              <div style="margin: 0px 0px 45pt; font-size: 20pt; font-weight: bold; text-align: center;">Jefferies Financial Group Inc.</div>
                              <font style="font-size: 16pt;"> </font>
                              <div style="text-align: center; font-size: 16pt;">Senior Fixed Rate 20 Year Step-Up Callable Notes</div>
                              <div style="margin: 0px 0px 30pt; font-size: 16pt; text-align: center;"> due January 31, 2045</div>
                              <font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-size: 16pt; font-style: normal; font-variant: normal; text-transform: none;"> </font>
                              <div><br>
                              </div>
                              <div><br>
                              </div>
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                                <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 1px; width: 28%; color: #000000; text-align: center;"></div>
                              <div style="text-align: center; font-size: 11pt; font-weight: bold;"> <br>
                              </div>
                              <div style="text-align: center; font-size: 11pt; font-weight: bold;">PRICING SUPPLEMENT</div>
                              <div style="text-align: center; font-size: 11pt; font-weight: bold;"> <br>
                              </div>
                              <div style="text-align: center; font-size: 11pt; font-weight: bold;">
                                <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 1px; width: 28%; color: #000000;"> </div>
                              <div style="margin: 0px 0px 55pt;"><br>
                              </div>
                              <div style="text-align: center; font-size: 10pt;">, 2025</div>
                              <div style="text-align: center; font-size: 10pt;"> <br>
                              </div>
                              <div style="text-align: center; font-size: 10pt;"> <br>
                              </div>
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                                <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"> </div>
                              <div style="text-align: center; font-size: 10pt;">
                                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
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