杜克能源美股招股说明书(2025-09-09版)

Duke Energy Corporation is offering $1,750,000,000 aggregate principal amount of Senior Notes in two new series. We are offering(i)$1,000,000,000 aggregate principal amount of 4.95% Senior Notes due 2035 (the “2035 Notes”) and (ii)$750,000,000 aggregate principalamount of 5.70% Senior Notes due 2055 (the “2055 Notes” and together with the 2035 Notes, the “Notes”). The per annum interest rate on the 2035 Notes will be 4.95% and the per annum interest rate on the 2055 Notes will be 5.70%. We willpay interest on the 2035 Notes and the 2055 Notes semi-annually in arrears on March15 and September15 of each year, beginning onMarch15, 2026. The 2035 Notes will mature as to principal on September15, 2035 and the 2055 Notes will mature as to principal on September15, 2055.We may redeem the Notes of any series at our option at any time and from time to time, in whole or in part, as described in this prospectus supplement under the caption “Description of the Notes — Optional Redemption.” The Notes will not have the benefit of anysinking fund. The Notes will be our direct, unsecured and unsubordinated obligations, ranking equally in priority with all of our existing andfuture unsecured and unsubordinated indebtedness and senior in right of payment to all of our existing and future subordinated debt. The Notes of each series are a new issue of securities with no established trading market. The Notes will not be listed on any securitiesexchange or included in any automated quotation system. Please read the information provided under the caption “Description of the Notes” inthis prospectus supplement and “Description of Debt Securities” in the accompanying prospectus for a more detailed description of the Notes.Investing in the Notes involves risks. See “Risk Factors” beginning on pageS-7of this prospectus supplement. (1)Plus accrued interest from September 11, 2025, if settlement occurs after that date. (2)The underwriters have agreed to make a payment to us in an amount equal to $2,937,500, including in respect of expensesincurred by us in connection with these offerings. See “Underwriting (Conflicts of Interest).” Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of thesesecurities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to thecontrary is a criminal offense. We expect the Notes to be ready for delivery only in book-entry form through the facilities of The Depository Trust Company (“DTC”)for the accounts of its participants, including Clearstream Banking S.A. (“Clearstream, Luxembourg”) and Euroclear Bank SA/NV, as operatorof the Euroclear System (“Euroclear System”) on or about September 11, 2025. Wells Fargo Securities You should rely only on the information contained in or incorporated by reference in this prospectussupplement, the accompanying prospectus and any free writing prospectus authorized by us. We have not, andthe underwriters have not, authorized anyone to provide you with information that is different. If anyoneprovides you with different or inconsistent information, you should not rely on it. We are not, and theunderwriters are not, making an offer to sell these securities in any jurisdiction where the offer is not permitted.You should not assume that the information contained in or incorporated by reference in this prospectussupplement, the accompanying prospectus or any free writing prospectus authorized by us is accurate as of anydate other than the date of the document containing the information or such other date as may be specifiedtherein. Our business, financial condition, liquidity, results of operations and prospects may have changed sincethose respective dates. TABLE OF CONTENTS Prospectus Supplement PageAbout this Prospectus SupplementS-1Prospectus Supplement SummaryS-3Risk FactorsS-7Cautionary Statement Regarding Forward-Looking InformationS-8Use of ProceedsS-11Description of the NotesS-12Certain U.S. Federal Income Tax Considerations for Non-U.S. HoldersS-16Book-Entry SystemS-19Underwriting (Conflicts of Interest)S-23Legal MattersS-29Where You Can Find More InformationS-29 Prospectus PageReferences to Additional InformationiiAbout this ProspectusiiForward-Looking StatementsiiThe Company1Risk Factors1Use of Proceeds2Description of Common Stock2Description of Preferred Stock2Description of Depositary Shares3Description of Stock Purchase Contracts and Stock Purchase Units4Description of Debt Securities4Plan of Distribution10Experts11Validity of the Securities11Where You Can Find More Information11 ABOUT THIS PROSPECTUS SUPPLEMENT This document is in two parts. The first part is this prospectus supplement, which describes the specificterms of these offerings. The second part, the accompanying prospectus, gives more general information,some of which does not apply to these offerings. If the description of the offerings varies