Filed pursuant to Rule 433
June 7, 2021
Relating to
Preliminary Prospectus Supplement dated June 7, 2021
to
Prospectus dated September 23, 2019
Registration Statement No. 333-233896
Duke Energy Corporation
$500,000,000 Floating Rate Senior Notes due 2023
$1,000,000,000 2.55% Senior Notes due 2031
$750,000,000 3.30% Senior Notes due 2041
$750,000,000 3.50% Senior Notes due 2051
Pricing Term Sheet
Issuer: | Duke Energy Corporation (the “Issuer”) |
Trade Date: | June 7, 2021 |
Settlement: | June 10, 2021 (T+3) |
Expected Ratings (Moody’s/S&P)*: | Baa2 (Stable) / BBB (Stable) |
Security Description: | Floating Rate Senior Notes due 2023 (the “Floating Rate Notes”) |
Principal Amount: | Floating Rate Notes: $500,000,000 |
Interest Payment Dates: | Floating Rate Notes: Payable quarterly in arrears on March 10, June 10, September 10 and December 10, beginning on September 10, 2021. Fixed Rate Notes: Payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2021 |
Maturity Date: | Floating Rate Notes: June 10, 2023 |
Benchmark Treasury: | Floating Rate Notes: N/A |
Benchmark Treasury Yield: | Floating Rate Notes: N/A |
Spread to Benchmark Treasury: | Floating Rate Notes: N/A |
Yield to Maturity: | Floating Rate Notes: N/A |
Coupon: | Floating Rate Notes: Floating rate based on Compounded SOFR plus 0.25%; calculated quarterly |
Price to the Public: | Floating Rate Notes: 100% per Floating Rate Note (plus accrued interest, if any, from June 10, 2021) |
Redemption Provisions: | The Floating Rate Notes may not be redeemed prior to their maturity.
Each series of Fixed Rate Notes may be redeemed at any time before the applicable Par Call Date (as set forth in the table below), in whole or in part and from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of such series of Fixed Rate Notes being redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on such series of Fixed Rate Notes being redeemed that would be due if such series of Fixed Rate Notes matured on the applicable Par Call Date (exclusive of interest accrued to the redemption date), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the |
| Preliminary Prospectus Supplement) plus a number of basis points equal to the applicable Make-Whole Spread (as set forth in the table below), plus, in each case, accrued and unpaid interest on the principal amount of such series of Fixed Rate Notes being redeemed to, but excluding, such redemption date. Each series of Fixed Rate Notes may be redeemed at any time on or after the applicable Par Call Date, in whole or in part and from time to time, at a redemption price equal to 100% of the principal amount of such series of Fixed Rate Notes being redeemed plus accrued and unpaid interest on the principal amount of such series of Fixed Rate Notes being redeemed to, but excluding, such redemption date. | ||
| Series | Par Call Date | Make-Whole Spread |
| 2031 Fixed Rate Notes | March 15, 2031 | 15 bps |
| 2041 Fixed Rate Notes | December 15, 2040 | 20 bps |
| 2051 Fixed Rate Notes | December 15, 2050 | 20 bps |
Denominations: | $2,000 or any integral multiple of $1,000 in excess thereof | ||
CUSIP / ISIN: | Floating Rate Notes: 26441C BK0 / US26441CBK09 | ||
Joint Book-Running Managers: | Barclays Capital Inc. BofA Securities, Inc. PNC Capital Markets LLC RBC Capital Markets, LLC Wells Fargo Securities, LLC Credit Suisse Securities (USA) LLC J.P. Morgan Securities LLC Mizuho Securities USA LLC Morgan Stanley & Co. LLC | ||
Co-Managers: | BNY Mellon Capital Markets, LLC C.L. King & Associates, Inc. Mischler Financial Group, Inc. Samuel A. Ramirez & Company, Inc. | ||
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* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.
The Issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at (888) 603-5847; BofA Securities, Inc. toll-free at (800) 294-1322 or by email at dg.prospectus_requests@bofa.com; PNC Capital Markets LLC toll-free at (855) 881-0697; RBC Capital Markets, LLC toll-free at (866) 375-6829; or Wells Fargo Securities, LLC toll-free at (800) 645-3751.
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