<SEC-DOCUMENT>0001104659-22-124588.txt : 20221205
<SEC-HEADER>0001104659-22-124588.hdr.sgml : 20221205
<ACCEPTANCE-DATETIME>20221205163830
ACCESSION NUMBER:		0001104659-22-124588
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20221205
DATE AS OF CHANGE:		20221205

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Duke Energy CORP
		CENTRAL INDEX KEY:			0001326160
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				202777218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-267583
		FILM NUMBER:		221445485

	BUSINESS ADDRESS:	
		STREET 1:		526 SOUTH CHURCH STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202-1803
		BUSINESS PHONE:		704-382-3853

	MAIL ADDRESS:	
		STREET 1:		526 SOUTH CHURCH STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202-1803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Duke Energy Holding Corp.
		DATE OF NAME CHANGE:	20050628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Deer Holding Corp.
		DATE OF NAME CHANGE:	20050504

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Duke Energy CORP
		CENTRAL INDEX KEY:			0001326160
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				202777218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		526 SOUTH CHURCH STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202-1803
		BUSINESS PHONE:		704-382-3853

	MAIL ADDRESS:	
		STREET 1:		526 SOUTH CHURCH STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202-1803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Duke Energy Holding Corp.
		DATE OF NAME CHANGE:	20050628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Deer Holding Corp.
		DATE OF NAME CHANGE:	20050504
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2231713d2_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Filed pursuant to Rule 433</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>December 5, 2022</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Relating to</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Preliminary Prospectus Supplement dated December
5, 2022</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>to</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Prospectus dated September 23, 2022</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Registration Statement No. 333-267583</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Duke Energy Corporation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$500,000,000 5.000% Senior Notes due 2025<BR>
$500,000,000 5.000% Senior Notes due 2027</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Pricing Term Sheet</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; width: 28%; border: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Issuer:</TD>
    <TD STYLE="padding-left: 5pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 72%; padding-bottom: 12pt; text-indent: 0in">Duke Energy Corporation (the &ldquo;<B>Issuer</B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Trade Date:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">December 5, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Settlement:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">December 8, 2022 (T+3)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Expected Ratings (Moody&rsquo;s/S&amp;P)*:&#9;</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">Baa2 (Stable) / BBB (Stable)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Security Description:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">5.000% Senior Notes due 2025 (the &ldquo;<B>2025 Notes</B>&rdquo;)<BR>
5.000% Senior Notes due 2027 (the &ldquo;<B>2027 Notes</B>&rdquo; and together with the 2025 Notes, the &ldquo;<B>Notes</B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Principal Amount:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: $500,000,000<BR>
2027 Notes: $500,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Interest Payment Dates:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">Payable semi-annually in arrears on June 8 and December 8 of each year, beginning on June 8, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Maturity Date:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: December 8, 2025<BR>
2027 Notes: December 8, 2027</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Benchmark Treasury:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 4.500% due November 15, 2025<BR>
2027 Notes: 3.875% due November 30, 2027</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Benchmark Treasury Yield:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 4.132%<BR>
2027 Notes: 3.795%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Spread to Benchmark Treasury:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: +88 bps<BR>
2027 Notes: +123 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Yield to Maturity:</TD>
    <TD STYLE="padding-left: 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 5.012%<BR>
2027 Notes: 5.025%</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-left: 5.4pt; width: 28%; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Coupon:</TD>
    <TD STYLE="padding-left: 5.4pt; width: 72%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8.1pt; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 5.000%                                 <BR>
2027 Notes: 5.000%                                 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Price to the Public:</TD>
    <TD STYLE="padding-left: 5.4pt; border-right: Black 1pt solid; padding-right: 8.1pt; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 99.967% per 2025 Note (plus accrued interest, if any, from December 8, 2022)<BR>
2027 Notes: 99.891% per 2027 Note (plus accrued interest, if any, from December 8, 2022)</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-bottom: 12pt; padding-left: 5.4pt">Redemption Provisions:</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Issuer may redeem the 2025 Notes at its option,
    in whole or in part, at any time and from time to time, on any date, at a redemption price (expressed as a percentage of principal amount
    and rounded to three decimal places) equal to the greater of:</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.6pt 0pt 189pt; text-indent: -189pt">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
    </FONT>(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon 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 applicable to the 2025 Notes
    plus 15  basis points less (b) interest accrued to the redemption date; and</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
    </FONT>100% of the principal amount of the 2025 Notes to be redeemed,</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.55pt 0pt 3pt">plus, in each case, accrued and unpaid interest thereon
    to, but excluding, the redemption date.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.55pt 0pt 2.7in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.6pt 0pt 3pt">Prior to November 8, 2027 (the date that is one month
    prior to the maturity date of the 2027 Notes (the &ldquo;2027 Par Call Date&rdquo;)), the Issuer may redeem the 2027 Notes at its option,
    in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded
    to three decimal places) equal to the greater of:</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.6pt 0pt 189pt; text-indent: -189pt">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>
    (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption
    date (assuming the 2027 Notes matured on the 2027 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of
    twelve 30-day months) at the Treasury Rate applicable to the 2027 Notes plus 20 basis points less (b) interest accrued to the
    redemption date; and</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
    </FONT>100% of the principal amount of the 2027 Notes to be redeemed,</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.55pt 0pt 3.75pt">plus, in either case, accrued and unpaid interest
    thereon to, but excluding, the redemption date.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.55pt 0pt 171pt">&nbsp;&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-left: 5.4pt; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding: 2pt 8.1pt 12pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in">On or after the 2027 Par Call Date, the Issuer may redeem the
    2027 Notes at its option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal
    amount of the 2027 Notes to be redeemed plus  accrued and unpaid interest thereon to, but excluding, the redemption date.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in; width: 28%">Denominations:</TD>
    <TD STYLE="padding-left: 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8.1pt; padding-bottom: 12pt; text-indent: 0in; width: 72%">$2,000 or any integral multiple of $1,000 in excess thereof</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">CUSIP / ISIN:</TD>
    <TD STYLE="padding-left: 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8.1pt; padding-bottom: 12pt; text-indent: 0in">2025 Notes: 26441C BV6 / US26441CBV63<BR>
2027 Notes: 26441C BW4 / US26441CBW47 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Joint Book-Running Managers:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">BofA Securities, Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Credit Suisse Securities (USA) LLC</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">MUFG Securities Americas Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">RBC Capital Markets, LLC</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Truist Securities, Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: -0.25in; padding-bottom: 12pt; text-indent: 0in">Co-Managers:</TD>
    <TD STYLE="padding-left: 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8.1pt; padding-bottom: 12pt; text-indent: 0in">Cabrera Capital Markets LLC <BR>
C.L. King &amp; Associates, Inc.<BR>
Great Pacific Securities</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">___________________________</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">* 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>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 <U>www.sec.gov</U>. 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 BofA
Securities, Inc. toll-free at 1-800-294-1322; Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037; MUFG Securities Americas
Inc. toll-free at 1-877-649-6848; RBC Capital Markets, LLC toll-free at 1-866-375-6829; and Truist Securities,&#8239;Inc. toll-free at
1-800-685-4786.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ANY DISCLAIMER OR OTHER NOTICE THAT MAY APPEAR
BELOW IS NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMER OR NOTICE WAS AUTOMATICALLY GENERATED AS A RESULT
OF THIS COMMUNICATION BEING SENT BY BLOOMBERG OR ANOTHER EMAIL SYSTEM.</B></P>



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