Prospectus excerpt:  This is an offering of Equity Units by PPL Corporation. Each Equity Unit will have a stated amount of $50 and will initially be in the form of Corporate Units, each of which consists of a purchase contract issued by us and, initially, a 1/20, or 5.0%, undivided beneficial ownership interest in $1,000 principal amount of PPL Capital Funding, Inc.?s 4.32% junior subordinated notes due 2019, which we refer to as the notes. The notes will be fully and unconditionally guaranteed by PPL Corporation pursuant to subordinated guarantees of PPL Corporation. The purchase contract will obligate you to purchase from us, no later than May 1, 2014, for a price of $50 in cash, the following number of shares of our common stock, subject to anti-dilution adjustments: if the applicable market value, which is the average volume weighted average price, or VWAP, of our common stock over the 20-trading day period ending on the third scheduled trading day prior to May 1, 2014, equals or exceeds approximately $30.99, 1.6133 shares of our common stock; if the applicable market value is less than approximately $30.99 but greater than $25.30, a number of shares of our common stock having a value, based on the applicable market value, equal to $50; and if the applicable market value is less than or equal to $25.30, 1.9763 shares of our common stock.