<SEC-DOCUMENT>0001140361-25-027803.txt : 20250729
<SEC-HEADER>0001140361-25-027803.hdr.sgml : 20250729
<ACCEPTANCE-DATETIME>20250729162219
ACCESSION NUMBER:		0001140361-25-027803
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250729
DATE AS OF CHANGE:		20250729

SUBJECT COMPANY:	

	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
		EIN:				132615557
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-271881
		FILM NUMBER:		251162176

	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

FILED BY:		

	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
		EIN:				132615557
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		FWP

	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>FWP
<SEQUENCE>1
<FILENAME>ef20052647_fwp.htm
<DESCRIPTION>DEAL 751
<TEXT>
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        <div style="text-align: right; color: rgb(0, 0, 0); font-weight: 400;"> <font style="color: rgb(51, 51, 51); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Filed Pursuant to Rule 433</font><font style="font-weight: bold;"><br style="box-sizing: border-box; color: rgb(51, 51, 51); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">
            <font style="color: rgb(51, 51, 51); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Registration Statement No. 333-271881</font></font></div>
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      <div style="margin-bottom: 1pt; color: rgb(187, 8, 38); font-size: 16pt; font-weight: bold; margin-left: 9pt;">Jefferies Financial Group Inc.</div>
      <div style="color: rgb(187, 8, 38); font-size: 12pt; font-weight: bold; margin-left: 9pt;">Market Linked Securities</div>
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    <div>
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            <td style="background-color: #8F8F8F; width: 1%;"><br>
            </td>
            <td style="background-color: #8F8F8F; width: 99%;">
              <div style="text-align: left; color: rgb(255, 255, 255); font-size: 12pt;">Market Linked Securities&#8212;Upside Participation to a Cap and Partial Principal Return at Maturity</div>
              <div style="text-align: left; color: rgb(255, 255, 255); font-size: 12pt;">Principal at Risk Securities Linked to the Common Stock of Amazon.com, Inc.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>due August 18, 2028</div>
              <div style="text-align: left; color: rgb(255, 255, 255); font-size: 10pt;">Term Sheet to Preliminary Pricing Supplement dated July 29, 2025</div>
            </td>
          </tr>

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    <div>
      <div style="margin: 2pt 0px 0px; color: #8F8F8F; font-size: 14pt;">Summary of Terms</div>
      <div class="BRPFTCL" style="float: left; width: 48%;">
        <div>
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              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Issuer:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Jefferies Financial Group Inc.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Market Measure:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">The common stock of Amazon.com, Inc. (Nasdaq symbol: AMZN) (the &#8220;Underlying Stock&#8221;)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Pricing Date*:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">August 15, 2025</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Issue Date*:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">August 20, 2025</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Face Amount and</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Original Offering Price:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">$1,000 per security</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Maturity Payment</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Amount (per security):</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 3pt; margin-bottom: 6pt; text-indent: -9pt; margin-left: 18pt;"><font style="font-size: 7pt;">&#8226;</font><font style="font-size: 6.12pt;" class="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160; </font><font style="font-size: 7pt;">if the
                      ending price is greater than the starting price: $1,000 plus the lesser of:</font></div>
                  <div style="margin-top: 3pt; margin-bottom: 6pt; font-size: 7pt; text-indent: -9pt; margin-left: 36pt;">(i) $1,000 &#215; underlying stock return &#215; upside participation rate; and</div>
                  <div style="margin-top: 3pt; margin-bottom: 6pt; font-size: 7pt; margin-left: 27pt;">(ii) the maximum return; or</div>
                  <div style="margin-top: 3pt; margin-bottom: 6pt; text-indent: -9pt; margin-left: 18pt;"><font style="font-size: 7pt;">&#160;&#8226;</font><font style="font-size: 6.12pt;" class="TRGRRTFtoHTMLTab">&#160;&#160; </font><font style="font-size: 7pt;">if the
                      ending price is less than or equal to the starting price, the greater of:</font></div>
                  <div style="margin-top: 3pt; margin-bottom: 6pt; font-size: 7pt; margin-left: 27pt;">(i) $1,000 + ($1,000 &#215;underlying stock return); and</div>
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt; margin-left: 27pt;">(ii) the minimum payment at maturity</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Stated Maturity Date*:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">August 18, 2028</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Starting Price:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; color: rgb(0, 0, 0); font-size: 7pt;">The closing price of the Underlying Stock on the pricing date</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Ending Price:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; color: rgb(0, 0, 0); font-size: 7pt;">The stock closing price (as defined in the pricing supplement) of the Underlying Stock on the calculation day</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Maximum Return:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">At least 32.50% of the face amount per security, to be determined on the pricing date</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Minimum Payment at</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Maturity:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">$900.00 per security (90% of the face amount)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Upside Participation</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Rate:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">100%</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Underlying Stock</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Return:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">(ending price &#8211; starting price) / starting price</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Calculation Day*:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">August 15, 2028</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Calculation Agent:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Jefferies Financial Services Inc. (&#8220;JFSI&#8221;), a wholly owned subsidiary of Jefferies Financial Group Inc.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Denominations:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">$1,000 and any integral multiple of $1,000</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Agent Discount**:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">Up to 3.075%; dealers, including those using the trade name Wells Fargo Advisors (&#8220;<u>WFA</u>&#8221;), may receive a selling concession of up to 2.25% and WFS may pay 0.075% of
                    the agent&#8217;s discount to WFA as a distribution expense fee</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">CUSIP:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">47233YLM5</div>
                </td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 26%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                  <div style="margin: 2pt 0px 0px; font-size: 7pt;">Material Tax</div>
                  <div style="margin: 0px 0px 2pt; font-size: 7pt;"> Consequences:</div>
                </td>
                <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 72%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                  <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 7pt;">See the preliminary pricing supplement.</div>
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        <div>
          <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(143, 143, 143); font-size: 14pt;">Hypothetical Payout Profile***</div>
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          <div style="color: rgb(0, 0, 0);">
            <div style="margin-top: 2pt; margin-bottom: 0px; font-size: 8pt;">***assumes a maximum return equal to the lowest possible maximum return that may be determined on the pricing date.</div>
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            <div style="margin-top: 0px; margin-bottom: 3pt; font-size: 8pt; font-weight: bold;">If the price of the Underlying Stock decreases, you will have 1-to-1 downside exposure to the first 10% decline in the price of the Underlying Stock from the
              starting price to the ending price and you may lose up to 10% of the face amount of your securities at maturity.</div>
            <div style="margin-top: 3pt; margin-bottom: 3pt; color: rgb(143, 143, 143); font-size: 7.5pt;">We estimate that the value of each security on the pricing date will be approximately $959.00, or within $30.00 of that estimate.&#160; See &#8220;Estimated
              Value of the Securities&#8221; in the accompanying preliminary pricing supplement for more information.</div>
            <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 8pt;">Preliminary Pricing Supplement: <a href="https://www.sec.gov/Archives/edgar/data/96223/000114036125027767/ef20052648_424b2.htm">https://www.sec.gov/Archives/edgar/data/96223/000114036125027767/ef20052648_424b2.htm</a><br>
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                <div>&#160;</div>
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        </table>
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      <div>
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            <tr style="vertical-align: top;">
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                <div style="text-align: left; margin-top: 1pt; font-size: 7pt;">*</div>
              </td>
              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="margin-top: 1pt; font-size: 7pt;">subject to change</div>
              </td>
            </tr>

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      <div>
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            <tr style="vertical-align: top;">
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                <div style="text-align: left; font-size: 7pt;">**</div>
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              <td style="text-align: left; vertical-align: top; width: auto;">
                <div style="font-size: 7pt;">In addition, s<font style="color: rgb(0, 0, 0);">elected dealers may receive a fee of up to 0.2% for marketing and other services</font></div>
              </td>
            </tr>

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      <div>
        <div style="font-size: 7pt; font-weight: bold;">The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities.&#160; See &#8220;Selected Risk Considerations&#8221; in this term
          sheet and the accompanying preliminary pricing supplement and &#8220;Risk Factors&#8221; in the accompanying product supplement.</div>
        <div style="text-align: justify; color: rgb(187, 8, 38); font-size: 7pt; font-weight: bold;">This introductory term sheet does not provide all of the information that an investor should consider prior to making an investment decision.</div>
        <div style="color: rgb(143, 143, 143); font-size: 7pt; font-weight: bold;">Investors should carefully review the accompanying preliminary pricing supplement, product supplement, prospectus supplement and prospectus before making a decision to
          invest in the securities.</div>
        <div style="font-size: 7pt; font-weight: bold;">NOT A BANK DEPOSIT AND NOT INSURED OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY</div>
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      <div><br>
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      <div style="margin-top: 0px; margin-bottom: 7.2pt; color: rgb(143, 143, 143); font-size: 14pt;">Selected Risk Considerations</div>
      <div style="text-align: justify; margin-top: 1pt; margin-bottom: 1pt;">The risks set forth below are discussed in detail in the &#8220;Selected Risk Considerations&#8221; section in the accompanying preliminary pricing supplement and the &#8220;Risk Factors&#8221; section
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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                  <div style="font-size: 8pt; font-weight: bold;">If The Ending Price Is Less Than The Starting Price, You Will Lose Some, And Possibly Up To 10%, Of The Face Amount Of Your Securities At Maturity.</div>
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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                  <div style="font-size: 8pt; font-weight: bold;">No Periodic Interest Will Be Paid On The Securities.</div>
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          </table>
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt; font-weight: bold;">Your Return Will Be Limited To The Maximum Return And May Be Lower Than The Return On A Direct Investment In The Underlying Stock.</div>
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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                </td>
              </tr>

          </table>
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt; font-weight: bold;">The Tax Consequences Of An Investment In Your Securities Are Uncertain.</div>
                </td>
              </tr>

          </table>
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                <td style="width: 4.5pt;"><br>
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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                  <div style="font-size: 8pt; font-weight: bold;">The Securities Are Subject To Our Credit Risk.</div>
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              </tr>

          </table>
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                <td style="width: 4.5pt;"><br>
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                <td style="width: 18pt; vertical-align: top;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt; font-weight: bold;">The Estimated Value Of The Securities On The Pricing Date, Based On Jefferies LLC Proprietary Pricing Models At That Time And Our Internal Funding Rate, Will Be Less Than The Original
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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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                  <div style="font-size: 8pt; font-weight: bold;">The Estimated Value Of The Securities Was Determined For Us By Our Subsidiary Using Proprietary Pricing Models.</div>
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                <td style="width: 18pt; vertical-align: top;">&#8226;</td>
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                  <div style="font-size: 8pt; font-weight: bold;">The Estimated Value Of The Securities Would Be Lower If It Were Calculated Based On Our Secondary Market Rate.</div>
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                    <div><font style="font-size: 8pt; font-weight: bold;">The Estimated Value Of The Securities Is Not An Indication Of The Price, If Any, At Which Jefferies LLC Or Any Other Person May Be Willing To Buy The Securities From You In The
                        Secondary Market.</font></div>
                  </td>
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                  <div style="font-size: 8pt; font-weight: bold;">The Value Of The Securities Prior To Stated Maturity Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways.</div>
                </td>
              </tr>

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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">&#8226;</td>
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              </tr>

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                  <div style="font-size: 8pt; font-weight: bold;">The Maturity Payment Amount Will Depend Upon The Performance Of The Underlying Stock And Therefore The Securities Are Subject To The Risks Associated With The Underlying Stock, As Discussed
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                </td>
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              </tr>

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                  <td style="width: 4.5pt;">&#160;</td>
                  <td style="text-align: right; vertical-align: top; width: 18pt;">
                    <div style="text-align: left;">&#8226;</div>
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                    <div><font style="font-size: 8pt; font-weight: bold;">You Have Limited Anti-dilution Protection.</font></div>
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              </td>
            </tr>

        </table>
      </div>
      <div style="color: rgb(143, 143, 143);">The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.&#160; Before you invest, you should read the prospectus in that registration
        statement and other documents that the issuer has filed with the SEC for more complete information about the issuer and this offering.&#160; You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.&#160; Alternatively, the
        issuer, any agent or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling your financial advisor or by calling Jefferies LLC.</div>
      <div><br>
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      <div style="color: rgb(143, 143, 143);">Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
