Business: Duke Energy Corp., 5.625% Junior Subordinated Debentures due 2078, issued in $25 denominations, redeemable at the issuer's option on or after 9/15/2023 at $25 per note plus accrued and unpaid interest, and maturing 9/15/2078. <p> The company may redeem the debentures before September 15, 2023, in whole but not in part, at their option, following the occurrence of a Tax Event or a Rating Agency Event (see the prospectus for details). <p> Interest distributions of 5.625% per annum ($1.40625 per annum or $0.3515625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be the business day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> The company has the right, on one or more occasions, to defer the payment of interest on the Debentures for up to 40 consecutive quarterly periods without giving rise to an event of default. <p> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was rated as Baa2 by Moody’s and BBB by S&P at the date of its IPO. <p> The Debentures are unsecured obligations and rank subordinate and junior in right of payment to all of their current and future senior indebtedness. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.