DUKE ENERGY OHIO, inc. $400,000,000 FIRST MORTGAGE BONDS, 2.125% SERIES, DUE JUNE 1, 2030 UNDERWRITING AGREEMENTDuke Energy Ohio • May 21st, 2020 • Duke Energy Ohio, Inc. • Electric & other services combined • Ohio
Redemption Provisions: At any time before March 1, 2030 (which is the date that is three months prior to the maturity date of the Bonds (the “Par Call Date”)), the Bonds will be redeemable in whole or in part, at the Issuer’s option at any time, at a redemption price equal to the greater of (i) 100% of the principal amount of the Bonds being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Bonds being redeemed that would be due if the Bonds matured on the Par Call Date (exclusive of interest accrued to the date of redemption) 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 plus 25 basis points, plus, in each case, accrued and unpaid interest on the principal amount of the Bonds being redeemed to, but excluding, the date of redemption. At any time on or after the Par Call Date, the Bonds will be redeemable in whole or in part,
