Company: PFIS
Filing Date: 2025-07-18
Form Type: S-4
Source: 0001104659-25-069074
Chunk: 18

Company: PEOPLES FINANCIAL SERVICES CORP.
Filing Date: 2025-07-18
Form: S-4
Chunk 18
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 as published by the Federal Reserve Bank of New York (provided, however, that in the event Three-Month Term SOFR is less than zero, Three-Month Term SOFR shall be deemed to be zero), plus 411 basis points, payable quarterly in arrears on March 15, June 15, September 15, and December 15 of each year, beginning September 15, 2025. If Three-Month Term SOFR cannot be determined on a given date, a different index shall be determined and used in accordance with the terms of the New Notes.

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TABLE OF CONTENTS

#### Day Count Convention
During the Fixed Rate Period: 30-day month/360-day year.

During the Floating Rate Period: 360-day year and the number of actual days elapsed.

#### Record Dates
Each interest payment will be made to the holders of record who held the New Notes at the close of business on the fifteenth calendar day prior to the applicable interest payment date.

#### Subordination; Ranking
The New Notes will be our general unsecured, subordinated obligations and:

•

will rank junior in right of payment and upon our liquidation to our existing and future “senior indebtedness” (as defined below);

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will rank equally in right of payment and upon our liquidation with our existing and all future indebtedness, the terms of which provide that such indebtedness ranks equally with promissory notes, bonds, debentures and other evidences of indebtedness of types that include the New Notes;

•

will rank senior in right of payment and upon our liquidation to any indebtedness, the terms of which provide that such indebtedness ranks junior to promissory notes, bonds, debentures and other evidences of indebtedness of types that include the New Notes; and

•

will be effectively subordinated to all of the existing and future indebtedness, deposits and other liabilities of the Bank and our other current and future subsidiaries, including without limitation, the Bank’s liabilities to depositors in connection with the deposits in the Bank, as well as to its subsidiary’s liabilities to general creditors and liabilities arising during the ordinary course or otherwise.

As of March 31, 2025, the Company and its subsidiaries had, in the aggregate, outstanding total liabilities, including debt and deposits, of $4.5 billion. Included in this amount, as of March 31, 2025, the Company had $99.1 million of indebtedness that would