Company: LAZ
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001311370-25-000027
Chunk: 16

Company: Lazard, Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 16
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 claim for any shortfall that would rank equally in right of payment with the notes. In any of the foregoing events, we cannot assure you that there will be sufficient assets to pay amounts due on the notes. As a result, holders of the notes may receive less, ratably, than holders of Lazard Group’s and Lazard, Inc.’s secured indebtedness. As of June 30, 2025, neither Lazard Group nor Lazard, Inc. had any secured indebtedness.

Lazard Group may not be able to repurchase all of the notes upon a Change of Control Triggering Event, which would result in a default under the indenture.

Upon the occurrence of a Change of Control Triggering Event, Lazard Group will be required to offer to repurchase the notes at 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. In such circumstances, Lazard Group cannot assure you that it would have sufficient funds available to repurchase the notes in cash at such time. The failure to make such repurchase would result in a default under the indenture. See “Description of Notes—Change of Control.”

There may be no active trading market for the notes.

The notes will constitute a new issue of securities for which there is no established trading market. Lazard Group does not intend to apply for listing of the notes on any securities exchange or for inclusion of the notes in any automated quotation system. Although the underwriters have advised us that they currently intend to make a market in the notes, they are not obligated to do so and may discontinue such market-making activity at any time without notice. In addition, market making activity will be subject to the limits imposed by the Exchange Act.

Changes in our credit rating may adversely affect your investment in the notes.

Actual or anticipated changes or downgrades in our credit ratings, including any announcement that our ratings are under further review for a downgrade, could increase our corporate borrowing costs and affect the market value of the notes. Also, our credit ratings may not reflect the potential impact of risks related to structure, market or other factors related to the value of the notes.

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### USE OF PROCEEDS
Lazard Group estimates that it will receive net proceeds of approximately $ million from this offering, after deducting the underwriting discount and other expenses.

Lazard Group intends to use the net proceeds from this offering (i) to repurchase any and all of its outstanding 202