杜克能源美股招股说明书(2026-08-10版)

This is an offering of Equity Units (“Equity Units”) by Duke Energy Corporation (“Duke Energy” or the “Company” or “our”or “we” or “us”). Each Equity Unit will have a stated amount of $50 and initially will be in the form of a Corporate Unit (“CorporateUnit”) consisting of (i)a purchase contract issued by us, (ii)a 1/40, or 2.5%, undivided beneficial ownership interest in $1,000principal amount of our Remarketable Senior Notes due 2032 (“2032 RSNs”) and (iii)a 1/40, or 2.5%, undivided beneficialownership interest in $1,000 principal amount of our Remarketable Senior Notes due 2036 (“2036 RSNs” and, together with the 2032RSNs, the “RSNs”). Each series of RSNs will initially bear interest at the rate of% per annum, payable quarterly, subject toreset following a successful remarketing as described herein. We intend to apply to list the Corporate Units on The New York Stock Exchange and expect trading to commence within30days of the date of initial issuance of the Corporate Units under the symbol “DUKU”, but there is no guarantee that such listingwill be approved. Prior to this offering, there has been no public market for the Corporate Units. Our common stock is listed on The New York Stock Exchange under the symbol “DUK.” The last reported sale price of ourcommon stock on The New York Stock Exchange on August7, 2026 was $124.85 per share. Investing in the Equity Units involves certain risks. See the “Risk Factors” section beginning on pageS-26of this prospectussupplement, as well as under “Risk Factors” in our Annual Report on Form 10-K for the year ended December31, 2025 and ourQuarterly Reports on Form 10-Q for the quarterly periods ended March31, 2026 and June30, 2026, which are incorporated by referenceherein, for more information. Neither the Securities and Exchange Commission (“SEC”) nor any other regulatory body has approved or disapproved of thesesecurities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation tothe contrary is a criminal offense.Per Corporate UnitTotal Public offering price$50.00$Underwriting discounts and commissions$$Proceeds to Duke Energy Corporation, before expenses$$ We have granted the underwriters the option to purchase from us, within the 13-day period beginning on, and including, the datewe first issue the Equity Units, up to an additional 5,000,000 Equity Units, initially in the form of Corporate Units, at thepublicoffering price per Corporate Unit, less the underwriting discounts and commissions, solely for the purpose of covering over-allotments. We expect that delivery of the Corporate Units will be made to investors in book-entry form through The Depository TrustCompany on or about, 2026, which will be the second business day following the initial trade date for the CorporateUnits (this settlement cycle being referred to as “T+2”). Under Rule15c6-1 under the Securities Exchange Act of 1934, as amended(the “Exchange Act”), trades in the secondary market generally are required to settle in one business day, unless the parties to anysuch trade expressly agree otherwise. Accordingly, purchasers who wish to trade Corporate Units prior to the business day precedingthe settlement date will be required, by virtue of the fact that the Corporate Units initially will settle T+2, to specify an alternatesettlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Corporate Units who wish to trade theCorporate Units prior to the business day preceding the settlement date should consult their own advisors. This prospectus supplement and the accompanying prospectus are not intended to constitute an offer to, and the Equity Units shouldnot be purchased, held or otherwise acquired by a “specified foreign entity” as defined in Section7701(a)(51)(B) of the Internal RevenueCode of 1986, as amended (“specified foreign entity”). By purchasing the Equity Units, any investor in the Equity Units (including allaffiliated entities that participate in such purchase) will be deemed to represent and warrant to us that it is not, and will not be, for itstaxable year that includes the date of the original issuance of the Equity Units, a specified foreign entity. MizuhoJ.P. MorganWells Fargo SecuritiesThe information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus do notconstitute an offer to sell these securities and we are not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted. BarclaysCitigroupMorgan Stanley (continued from cover) •The purchase contract will obligate you to purchase from us on August1, 2029, or if such day is not a business day, onthe following business day (the “purchase contract settlement date”), for a price of $50 in cash, the following number ofshares of our common stock, subject to anti-dilution adjustments: •if