杜克能源美股招股说明书(2026-08-12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 (“Corporate Unit”) consisting of(i)a purchase contract issued by us, (ii)a 1/40, or 2.5%, undivided beneficial ownership interest in $1,000 principal amount of ourRemarketable Senior Notes due 2032 (“2032 RSNs”) and (iii)a 1/40, or 2.5%, undivided beneficial ownership interest in $1,000 principalamount of our Remarketable Senior Notes due 2036 (“2036 RSNs” and, together with the 2032 RSNs, the “RSNs”). Each series of RSNs willinitially bear interest at the rate of 4.85% per annum, payable quarterly, subject to reset following a successful remarketing as describedherein. We intend to apply to list the Corporate Units on The New York Stock Exchange and expect trading to commence within 30days of thedate of initial issuance of the Corporate Units under the symbol “DUKU”, but there is no guarantee that such listing will be approved. Prior tothis 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 our commonstock on The New York Stock Exchange on August10, 2026 was $121.19 per share. Investing in the Equity Units involves certain risks. See the “Risk Factors” section beginning on pageS-26of this prospectus supplement, aswell as under “Risk Factors” in our Annual Report on Form 10-K for the year ended December31, 2025 and our Quarterly Reports on Form 10-Qfor the quarterly periods ended March31, 2026 and June30, 2026, which are incorporated by reference herein, for more information. Neither the Securities and Exchange Commission (“SEC”) nor any other regulatory body has approved or disapproved of these securities orpassed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is acriminal offense.Per Corporate UnitTotal Public offering price We have granted the underwriters the option to purchase from us, within the 13-day period beginning on, and including, the date we firstissue the Equity Units, up to an additional 5,000,000 Equity Units, initially in the form of Corporate Units, at the publicoffering price perCorporate 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 Trust Company onor about August13, 2026, which will be the second business day following the initial trade date for the Corporate Units (this settlement cyclebeing referred to as “T+2”). Under Rule15c6-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), trades in thesecondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise.Accordingly, purchasers who wish to trade Corporate Units prior to the business day preceding the settlement date will be required, by virtueof the fact that the Corporate Units initially will settle T+2, to specify an alternate settlement cycle at the time of any such trade to prevent afailed settlement. Purchasers of the Corporate Units who wish to trade the Corporate Units prior to the business day preceding the settlementdate should consult their own advisors. This prospectus supplement and the accompanying prospectus are not intended to constitute an offer to, and the Equity Units should not bepurchased, held or otherwise acquired by a “specified foreign entity” as defined in Section7701(a)(51)(B) of the Internal Revenue Code of 1986, asamended (“specified foreign entity”). By purchasing the Equity Units, any investor in the Equity Units (including all affiliated entities thatparticipate in such purchase) will be deemed to represent and warrant to us that it is not, and will not be, for its taxable year that includes the dateof the original issuance of the Equity Units, a specified foreign entity. BarclaysCitigroupMorgan StanleyCIBC Capital Markets MizuhoJ.P. MorganWells Fargo SecuritiesScotiabankTD Securities August10, 2026 (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 the applicable market value, which is the average of the volume-weighted average price of our common stock oneach trading day during the 20 consecutive scheduled trading day period ending on, and including, the thirdscheduled trading day prior to the purchase contract settlement date, subject to adjustment as described herein if amarket disruption event oc