Business: Duke Energy Corp Equity Units Due 8/1/2029 stated amount $50 per unit, initially consisting of Corporate Units which include a stock purchase contract and a 1/40 undivided beneficial ownership interest in $1,000 principal amount of the Remarketable Senior Notes due 2032 and a 1/40 undivided beneficial ownership interest in $1,000 principal amount of the Remarketable Senior Notes due 2036. <p> The stock purchase contract requires the holder to purchase for $50 a variable number of shares of Duke Energy Corp (NYSE: DUK) common stock no later than 08/01/2029 and pays a contract adjustment rate of 2.90% per annum. The stock purchase settlement rate will be 0.3301 shares per unit if the then current market price is equal to or greater than $151.4693 and 0.4126 shares per unit if the market price is equal to or less than $121.1827. For market prices between those values the settlement rate will be $50 divided by the market value. <p> The Equity Units pay a combinded quarterly distributions of 7.75% ($(3.875) per annum on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is the record date. <p> Distributions paid by these securities are derived from interest paid on the underlying debt securities and therefore 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 4.85% Remarketable Senior Note is due 08/01/2032 and is subject to reset and remarketing on the third business day prior to 05/01/2029 The 4.85% Remarketable Senior Note is due 08/01/2036 and is subject to reset and remarketing on the third business day prior to 05/01/2029 <p> The holder has the right at any time to convert 40 Corporate Units to Treasury Units by the substitution of a specified zero-coupon U.S. Treasury security for the 1/40 interest in the Remarketable Senior notes due 2032 and the 1/40 interest in the Remarketable Senior notes due 2036 and to later recreate Corporate Units. This security was rated as Baa2 by Moody’s and BBB- by S&P at the date of its IPO. The Senior Notes are unsecured and rank equally with the company's other unsecured senior indebtedness. See the IPO prospectus for extensive additional information on the equity units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.