Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 19

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 19
---
                         |       — |     |             |         |
| 20  notes                                                |     |                         |       — |     |             |         |
| Total debt                                               |     | $                       |   817.6 |     | $           |         |
| Total stockholders’ equity                               |     | $                       | 4,116.6 |     | $           | 4,116.6 |
| Total capitalization                                     |     | $                       | 4,934.2 |     | $           |         |

| (1) | As of February 28, 2025, $1,000.0 million, $750.0 million and $232.4 million was available                                                                                                                            
 to be borrowed under the 2029 credit facility with JPMorgan Chase Bank, N.A., the 2026 credit facility with JPMorgan Chase Bank, N.A. and the 2026 credit facility with PNC Bank, National Association, respectively. |

S-12

DESCRIPTION OF NOTES

The following statements relating to the notes and the indenture (the “Indenture”) to be entered into between us and The Bank of New York Mellon Trust Company, N.A., as trustee, are summaries of certain provisions thereof and are subject to, and qualified in their entirety by reference to, the detailed provisions of the form of each series of notes, the Indenture (including provisions made a part of the Indenture by reference to the Trust Indenture Act of 1939, as amended) and the supplemental indenture establishing the final terms of such series of notes. Certain provisions of the Indenture are summarized in the accompanying prospectus. We encourage you to read the summaries of the notes and the Indenture in both this prospectus supplement and the accompanying prospectus.

This description of the notes being offered hereby supplements and, to the extent it is inconsistent, replaces, the description of the general provisions of the notes and the Indenture in the accompanying prospectus.

For purposes of this description, references to the “Company,” “Paychex,” “we,” “our” and “us” refer only to Paychex, Inc. and not to its subsidiaries.

General

The 20 notes, the
20 notes and the 20 notes will each be issued as a separate series of debt securities under the Indenture.

We will
issue the notes in fully registered book-entry form without coupons and in denominations of $2,000 and