CHARLOTTE, N.C., Aug. 11, 2026 /PRNewswire/ -- Duke Energy Corporation (NYSE:DUK) announced the pricing of its public offering of 35 million Equity Units. Each Equity Unit will be issued in a stated amount of $50 ($1.75 billion aggregate stated amount) and will initially be in the form of a Corporate Unit consisting of a contract to purchase Duke Energy common stock in the future, a 1/40 undivided beneficial ownership interest in Duke Energy's 4.85% Remarketable Senior Notes due 2032 having a principal amount of $1,000 and a 1/40 undivided beneficial ownership interest in Duke Energy's 4.85% Remarketable Senior Notes due 2036 having a principal amount of $1,000. Each series of Remarketable Senior Notes is subject to remarketing, subject to certain conditions and during certain periods. The offering is expected to close on August 13, 2026, subject to customary closing conditions.

Duke Energy intends to apply to list the Corporate Units on The New York Stock Exchange and expects trading to commence within 30 days of the date of initial issuance (subject to listing approval).

Total distributions on the Corporate Units will be at the rate of 7.75% per year, consisting of interest payments on the Remarketable Senior Notes due 2032, interest payments on the Remarketable Senior Notes due 2036 and contract adjustment payments under the related stock purchase contracts. Under the purchase contracts, holders are required to purchase a variable number of shares of Duke Energy common stock no later than August 1, 2029. The reference price for the purchase contracts is $121.1827 per share, which is approximately equal to the closing price of Duke Energy common stock on The New York Stock Exchange on August 10, 2026. The minimum settlement rate under the purchase contracts is 0.3301 shares of Duke Energy common stock, which is approximately equal to the $50 stated amount per Equity Unit divided by the threshold appreciation price of $151.4693 per share, which represents a premium of approximately 25.00% over the reference price. The maximum settlement rate under the purchase contracts is 0.4126 shares of Duke Energy common stock, which is approximately equal to the $50 stated amount per Equity Unit divided by the reference price. Each of the settlement rates is subject to adjustment in certain circumstances.

Duke Energy has granted the underwriters an option to purchase within the 13-day period beginning on, and including, the initial issuance date of the Equity Units up to 5 million additional Corporate Units (an additional $250 million aggregate stated amount), solely for the purpose of covering over-allotments.

Duke Energy expects to use the net proceeds from the offering, which are expected to be approximately $1,719 million (or $1,965 million if the over-allotment option is exercised in full), after deducting the underwriting discounts and commissions but before deducting estimated offering expenses, (i) to redeem the outstanding $500 million aggregate principal amount of its 3.25% Junior Subordinated Debentures due 2082 (the "Junior Subordinated Debentures"), (ii) to repay a portion of its outstanding commercial paper and (iii) for general corporate purposes. This press release shall not constitute a notice of redemption of the Junior Subordinated Debentures or an obligation to issue a notice of redemption.

Barclays, BofA Securities, Mizuho, Citigroup, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, Truist Securities and Wells Fargo Securities will be book-running managers for the offering.

The offering is being made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. Any offers of the securities will be made exclusively by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: Barclaysprospectus@broadridge.com, Telephone: (888) 603-5847; BofA Securities, Inc. at NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or Mizuho Securities USA LLC, 1271 Avenue of the Americas, 3rd Floor, New York, New York 10020, Attention: Equity Capital Markets, email: us-ecm@mizuhogroup.com.

Duke Energy

Duke Energy (NYSE:DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Forward-Looking Information

This news release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward‑looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: the ability to implement Duke Energy's business strategy, including meeting forecasted load growth demand, grid and fleet modernization objectives, and reducing carbon emissions, while balancing customer reliability and keeping costs as low as possible for Duke Energy's customers; state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements and/or uncertainty of applicability or changes to such legislative and regulatory initiatives, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to timely recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, particularly in periods of heightened customer affordability concerns, bill volatility, or public and political scrutiny, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the impact of extraordinary external events, such as a global pandemic, trade wars or military conflict, and their collateral consequences, including the disruption of global supply chains or the economic activity in Duke Energy's service territories; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential decline in service territories or customer bases resulting from sustained downturns of the economy, storm damage, reduced customer usage due to cost pressures from inflation, tariffs, or fuel costs, worsening economic health of Duke Energy's service territories, reductions in customer usage patterns, or lower than anticipated load growth, particularly if usage of electricity by data centers is less than currently projected, energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs; advancements in technology, including AI; additional competition in electric and natural gas markets, municipalization and continued industry consolidation; the influence of weather and other natural phenomena on operations, financial position, and cash flows, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; changing or conflicting investor, customer and other stakeholder expectations and demands, particularly regarding environmental, social and governance matters and costs related thereto; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the United States electric grid or generating resources; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as severe storms, fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices, including any impact from increased tariffs, export controls and interest rates, and the ability to timely recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility's generation portfolio, and general market and economic conditions; credit ratings of Duke Energy or its subsidiaries may be different from what is expected; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy or its subsidiaries' capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules, obtaining sufficient skilled labor and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; the ability to obtain adequate insurance at acceptable costs and recover on claims made; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to Duke Energy; the performance of projects undertaken by Duke Energy's businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the Securities and Exchange Commission (the "SEC"); the impact of United States tax legislation to Duke Energy's financial condition, results of operations or cash flows and Duke Energy's credit ratings; the impacts from potential impairments of goodwill or investment carrying values; asset or business acquisitions and dispositions may not be consummated or yield the anticipated benefits, which could adversely affect Duke Energy's financial condition, credit metrics or ability to execute strategic and capital plans; the (i) failure to realize the anticipated benefits, synergies, and value creation expected from the utility combination by which Duke Energy Progress will merge into Duke Energy Carolinas (the "Combination"), including as a result of difficulties or delays in integrating the contributed assets and operations and/or the incurring of significant costs in connection with the Combination; and (ii) the risk that the combined entity may not perform as expected following the consummation of the Combination due to unforeseen liabilities, its level of indebtedness, integration challenges, market conditions, ratings downgrades, or other factors beyond the control of the parties; and the actions of activist shareholders could disrupt Duke Energy's operations, impact Duke Energy's ability to execute on Duke Energy's business strategy, or cause fluctuations in the trading price of Duke Energy's common stock.

Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and are available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this news release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact: Gillian Moore

24-Hour: 800.559.3853

Analysts Contact: Mike Switzer

Office: 704.382.6473

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SOURCE Duke Energy