Red Flags Detected

• ⚠ If the Final Value of the Worst-performing Underlying Is Less Than Its Threshold Value, You Will Receive For Each Note That You Hold a Payment At Maturity That Is Less Than the Stated Principal Amount of Each Note. In This Case Investors Will Lose 1% of the Stated Principal Amount For Every 1% Decline In the Final Value Below the Initial Value. Investors May Lose Up to 100% of the Stated Principal Amount of the Notes. (new) — The notes expose investors to full principal loss if the worst-performing index declines below its threshold, a structural risk inherent to the product.
• ⚠ Your Investment Return Will Be Limited to the Return Represented By the Contingent Coupon Payments, If Any, Paid Over the Term of the Notes. You Will Not Receive a Payment On the Notes Greater Than the Stated Principal Amount Plus Any Contingent Coupon Payments, Regardless of the Appreciation of the Underlyings. (new) — The return is capped at the contingent coupon payments, eliminating any upside participation in the underlying indices.
• ⚠ The Notes Are Linked to the Worst-performing of the Underlyings and You Are Subject to the Risks Associated With Each Underlying. the Notes Are Not Linked to a Basket Composed of the Underlyings, Where the Depreciation In the Value of One Underlying Could Be Offset to Some Extent By the Appreciation In the Value of the Other Underlying. (new) — The worst-of feature means a decline in any one underlying index can trigger loss of principal or loss of coupon payments, even if the others perform well.
• ⚠ The Estimated Value of the Notes On the Pricing Date, Based On Jefferies Llc Proprietary Pricing Models At That Time and Our Internal Funding Rate, Will Be Less Than the Issue Price. (new) — The issuer's own estimate of the notes' value at pricing is below the issue price, indicating investors pay a premium over the model value.
• ⚠ 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 And, If IT Once Chooses to Make a Market, May Cease Doing So At Any Time. (new) — The notes are unlisted and may have no secondary market, making it difficult for investors to sell before maturity.