UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION~~

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT ~~REPORT~~ ~~Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934~~REPORT

~~Date~~Pursuant ofto ~~Report:~~Section 13 ~~November~~or ~~24,~~15(d) of ~~2021~~the

~~(Date~~Securities ofExchange ~~earliest~~Act ~~event~~of ~~reported)~~1934

Commission file number	Registrant, State of Incorporation or Organization, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification Number
1-4928	DUKE ENERGY CAROLINAS, LLC (a North Carolina limited liability company) 526 South Church Street Charlotte, North Carolina 28202-1803 704-382-3853	56-0205520
333-259314-01	DUKE ENERGY CAROLINAS NC STORM FUNDING LLC (a Delaware limited liability company) 526 South Church Street Charlotte, North Carolina 28202-1803 704-382-3853	87-2284895

Date of Report (Date of earliest event reported): March 1, 2022

~~Check~~DUKE ~~the~~ENERGY ~~appropriate~~CAROLINAS, ~~box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):~~LLC

(Exact Name of Registrant as Specified in its Charter)

North Carolina
(State or Other Jurisdiction
of Incorporation or
Organization)

1-04928
(Commission File Number)

56-0205520
(IRS Employer
Identification No.)

526 South Church Street

Charlotte, North Carolina 28202-1803

(Address of Principal Executive Offices, including Zip Code)

(704) 382-3853

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting ~~Material~~material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of each class Trading Symbol(s) Name of each exchange on which registered None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

¨ Emerging growth company ¨

¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section c13(a) of the Exchange Act.

~~If an~~Securities ~~emerging~~registered ~~growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided~~ pursuant to Section 1312(ab) of the ~~Exchange~~ Act~~. ¨~~:

Co-Registrant CIK	0001881226
Co-Registrant Amendment Flag	false
Co-Registrant Form Type	8-K
Co-Registrant DocumentPeriodEndDate	2021-11-24
Co-Registrant Written Communications	false
Co-Registrant Solicitating Materials	false
Co-Registrant PreCommencement Tender Offer	false
Co-Registrant PreCommencement Issuer Tender Offer	false
Co-Registrant Emerging Growth Company	false

Title of each class:		Trading Symbol(s):		Name of each exchange on which registered:
		None

Item 8.01. Other Events.

On ~~November~~ March 244, ~~2021~~2022, Duke Energy Carolinas, LLC (the “Company”) consummated the issuance and sale of the securities described NCbelow ~~Storm~~pursuant ~~Funding~~to ~~LLC~~an underwriting agreement, dated March 1, 2022 (the “~~Issuing~~Underwriting ~~Entity~~Agreement”), ~~issued~~with ~~$237~~Mizuho Securities USA LLC,~~210~~ SMBC Nikko Securities America,~~000~~ Inc., ofTD ~~Series~~Securities (USA) LLC, U.S. Bancorp Investments, AInc. ~~Senior~~and ~~Secured~~Wells ~~Storm~~Fargo ~~Recovery~~Securities, LLC, ~~Bonds~~as (representatives of the ~~“Storm~~ ~~Recovery~~several ~~Bonds~~underwriters named therein (the “Underwriters”), pursuant to anwhich ~~Indenture~~the Company agreed to issue and sell to the Underwriters $500,000,000 aggregate principal amount of the Company’s First and Refunding Mortgage Bonds, 2.85% Series ~~Supplement~~due 2032 and $650,000,000 aggregate principal amount of the Company’s First and Refunding Mortgage Bonds, 3.55% Series due 2052 (~~together~~collectively, the “~~Indenture~~Sustainability Bonds”),. ~~each~~The Sustainability Bonds were sold to the Underwriters at a discount to their principal amount. The Sustainability Bonds were issued under the First and Refunding Mortgage, dated as of ~~November~~December 241, 1927, ~~2021.~~as ~~The~~amended ~~Storm~~and ~~Recovery~~supplemented ~~Bonds~~from ~~were~~time ~~offered~~to ~~pursuant~~time, toincluding by the ~~Prospectus~~One-Hundred and Sixth Supplemental Indenture, dated ~~November~~as of March 174, 2022 ~~2021.~~(the ~~In connection~~“One-Hundred ~~with~~and ~~this~~Sixth ~~issuance~~Supplemental ofIndenture”), ~~the~~relating ~~Storm~~to ~~Recovery~~the Sustainability Bonds, ~~Duke~~each ~~Energy~~between ~~Carolinas~~the Company and The Bank of New York Mellon Trust Company, ~~LLC~~N.A., ~~and~~as ~~the~~Trustee ~~Issuing~~(as ~~Entity~~so ~~are~~amended ~~filing~~and supplemented, the ~~exhibits~~“Mortgage”). ~~listed~~The disclosure in this Item 98.01 is qualified in its entirety by the provisions of the Mortgage, including the One-Hundred and Sixth Supplemental Indenture which ~~are~~together ~~annexed~~with the forms of global bonds evidencing the Sustainability Bonds, is filed as Exhibit 4.1 hereto, and the Underwriting Agreement, which is filed as Exhibit 99.1 hereto. Such exhibits are incorporated herein by reference. Also, in connection with the issuance and sale of the Sustainability Bonds, the Company is filing a legal opinion regarding the validity of the Sustainability Bonds as Exhibit 5.1 to this ~~Current~~Form 8-K ~~Report~~for the purpose of incorporating the opinion into the Company’s Registration Statement on Form 8S-K3 (No. 333-233896-06).

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
Exhibit		Description
4.1		Indenture between Duke Energy Carolinas NC Storm Funding LLC and the Indenture Trustee (including forms of the Senior Secured Storm Recovery Bonds) dated as of November 24, 2021
Exhibit 4.1		One-Hundred and Sixth Supplemental Indenture, dated as of March 4, 2022 between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee, and forms of global bonds representing the First and Refunding Mortgage Bonds, 2.85% Series due 2032 and First and Refunding Mortgage Bonds, 3.55% Series due 2052
4.2		Series Supplement between Duke Energy Carolinas NC Storm Funding LLC and the Indenture Trustee, dated as of November 24, 2021
Exhibit 5.1		Opinion regarding validity of the Sustainability Bonds
5.1		Opinion of Hunton Andrews Kurth LLP with respect to legality
Exhibit 23.1		Consent (included as part of Exhibit 5.1)
8.1		Opinion of Hunton Andrews Kurth LLP with respect to tax matters
Exhibit 99.1		Underwriting Agreement, dated March 1, 2022, among the Company and Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein
10.1		Storm Recovery Property Servicing Agreement between Duke Energy Carolinas NC Storm Funding LLC and Duke Energy Carolinas, LLC, as Servicer, dated as of November 24, 2021
Exhibit 104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within Inline XBRL document.
10.2		Storm Recovery Property Purchase and Sale Agreement between Duke Energy Carolinas NC Storm Funding LLC and Duke Energy Carolinas, LLC, as Seller, dated as of November 24, 2021
10.3		Administration Agreement between Duke Energy Carolinas NC Storm Funding LLC and Duke Energy Carolinas, LLC, as Administrator, dated as of November 24, 2021
23.1		Consent of Hunton Andrews Kurth LLP (included as part of its opinions filed as Exhibit 5.1 and Exhibit 8.1)
99.2		Opinion of Hunton Andrews Kurth LLP with respect to U.S. and North Carolina constitutional matters
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

~~SIGNATURES~~SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the ~~registrants~~registrant ~~have~~has duly caused this report to be signed on ~~their~~its behalf by the undersigned ~~thereunto~~hereunto duly authorized.

DUKE ENERGY CAROLINAS, LLC

	DUKE ENERGY CAROLINAS, LLC
Date: March 4, 2022

	By:	/s/ Robert T. Lucas III
		Name:	Robert T. Lucas III
		Title:	Assistant Secretary

	By:	/s/ Robert T. Lucas III
		Robert T. Lucas III
Dated: November 24, 2021		Assistant Secretary

DUKE ENERGY CAROLINAS NC STORM FUNDING LLC

	By:	/s/ Robert T. Lucas III
		Robert T. Lucas III
Dated: November 24, 2021		Secretary

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