Company: LAZ
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001311370-25-000033
Chunk: 55

Company: Lazard, Inc.
Filing Date: 2025-07-29
Form: 424B5
Chunk 55
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 the offering of, any debt securities issued or guaranteed by Lazard Group or Lazard, Inc. (other than the notes).

In connection with the offering, the underwriters may purchase and sell notes in the open market. Purchases and sales in the open market may include short sales, purchases to cover short positions, and stabilizing purchases.

• Short sales involve secondary market sales by the underwriters of a greater number of notes than they are required to purchase in the offering.

• Covering transactions involve purchases of notes in the open market after the distribution has been completed in order to cover short positions.

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• Stabilizing transactions involve bids to purchase notes so long as the stabilizing bids do not exceed a specified maximum.

Purchases to cover short positions and stabilizing purchases, as well as other purchases by the underwriters for their own accounts, may have the effect of preventing or retarding a decline in the market price of the notes. They may also cause the price of the notes to be higher than the price that would otherwise exist in the open market in the absence of these transactions. The underwriters may conduct these transactions in the over-the-counter market or otherwise. If the underwriters commence any of these transactions, they may discontinue them at any time. The underwriters may also impose a penalty bid. Penalty bids permit an underwriter to reclaim a selling concession from a syndicate member when that underwriter, in covering syndicate short positions or making stabilizing purchases, purchases notes originally sold by that syndicate member.

We expect to deliver the notes against payment for the notes on or about August 1, 2025, which will be the fourth business day following the date of the pricing of the notes (“T+4”). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in one business day, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes more than one business day prior to the settlement date will be required, by virtue of the fact that the notes initially will settle in T+4, to specify alternative settlement arrangements to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to their date of delivery should consult their own advisors.

The notes are a new issue of securities with no established trading market. Lazard Group does not intend to apply for listing of the notes on any national securities exchange. The underwriters have advised us that they