Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 66

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 66
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 other identifying numbers.

The indenture provides that we may issue debt securities up to the principal
amount that we may authorize and may be in any currency or currency unit designated by us. Except for the limitations on consolidation, merger and sale of all or substantially all of our assets contained in the indenture, the terms of the indenture
do not contain any covenants or other provisions designed to afford holders of any debt securities protection with respect to our operations, financial condition or transactions involving us and will not contain any such additional covenants or
other provisions unless set forth in the applicable prospectus supplement for a particular series of debt securities.

We may issue the
debt securities issued under the indenture as “discount securities,” which means they may be sold at a discount below their stated principal amount. These debt securities, as well as other debt securities that are not issued at a discount,
may, for U.S. federal income tax purposes, be treated as if they were issued with “original issue discount,” because of interest payment and other characteristics. Special U.S. federal income tax considerations applicable to debt
securities issued with original issue discount will be described in more detail in any applicable prospectus supplement.

7

Provisions of the Indenture The applicable prospectus supplement for a series of debt securities that we issue will describe, among other things, the following terms of the offered debt securities:

| • |     | the title; |

| • |     | any limit on the aggregate principal amount of debt securities of such series; |

| • |     | whether initially issued in the form of one or more global securities and whether all or a portion of the 
 principal amount of the debt securities is represented thereby;                                           |

| • |     | the price or prices (including denomination) at which the debt securities will be issued; |

| • |     | the date or dates on which principal and premium, if any, is payable and the method of determination thereof; |

| • |     | the place or places where and the manner in which principal, premium or interest will be payable and the place or 
 places where the debt securities may be presented for transfer and, if applicable, conversion or exchange;        |

| • |     | interest rates, and the dates from which interest, if any, will accrue, and the dates when interest is payable 
 and the record date, if any;                                                                                   |

| • |     | the right, if any, to extend the interest payment periods and the duration