Filed Pursuant to Rule 433
Registration No. 333-221898
May 3, 2018
U.S.$1,000,000,000
TransCanada PipeLines Limited
4.250% Senior Notes due 2028
Issuer: |
| TransCanada PipeLines Limited |
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|
|
Security: |
| 4.250% Senior Notes due 2028 |
|
|
|
Size: |
| U.S.$1,000,000,000 |
|
|
|
Maturity Date: |
| May 15, 2028 |
|
|
|
Coupon: |
| 4.250% |
|
|
|
Interest Payment Dates: |
| May 15 and November 15, commencing on November 15, 2018 |
|
|
|
Price to Public: |
| 99.611% |
|
|
|
Benchmark Treasury: |
| 2.750% due February 15, 2028 |
|
|
|
Benchmark Treasury Price and Yield: |
| 98-10+ / 2.948% |
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|
|
Spread to Benchmark Treasury: |
| +135 basis points |
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|
|
Yield: |
| 4.298% |
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|
|
Optional Redemption: |
| At any time at the greater of par or a discount rate of Treasury plus 20 basis points |
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|
|
At Par Redemption: |
| On or after February 15, 2028 |
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Trade Date: |
| May 3, 2018 |
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Expected Settlement Date: |
| May 7, 2018 (T+2) |
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CUSIP: |
| 89352HAW9 |
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ISIN: |
| US89352HAW97 |
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|
|
Anticipated Ratings:* |
| A3 (negative outlook) by Moody’s Investors Service, Inc. |
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|
Joint Bookrunners: |
| J.P. Morgan Securities LLC |
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|
|
Co-Managers: |
| Citigroup Global Markets Inc. |
*Note: A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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 www.sec.gov. 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 J.P. Morgan Securities LLC collect at (212) 834-4533 or Deutsche Bank Securities Inc. toll free at (800) 503-4611.
U.S.$500,000,000
TransCanada PipeLines Limited
4.750% Senior Notes due 2038
Issuer: |
| TransCanada PipeLines Limited |
|
|
|
Security: |
| 4.750% Senior Notes due 2038 |
|
|
|
Size: |
| U.S.$500,000,000 |
|
|
|
Maturity Date: |
| May 15, 2038 |
|
|
|
Coupon: |
| 4.750% |
|
|
|
Interest Payment Dates: |
| May 15 and November 15, commencing on November 15, 2018 |
|
|
|
Price to Public: |
| 99.628% |
|
|
|
Benchmark Treasury: |
| 2.750% due November 15, 2047 |
|
|
|
Benchmark Treasury Price and Yield: |
| 92-23+ / 3.129% |
|
|
|
Spread to Benchmark Treasury: |
| +165 basis points |
|
|
|
Yield: |
| 4.779% |
|
|
|
Optional Redemption: |
| At any time at the greater of par or a discount rate of Treasury plus 25 basis points |
|
|
|
At Par Redemption: |
| On or after November 15, 2037 |
|
|
|
Trade Date: |
| May 3, 2018 |
|
|
|
Expected Settlement Date: |
| May 7, 2018 (T+2) |
|
|
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CUSIP: |
| 89352HAX7 |
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|
|
ISIN: |
| US89352HAX70 |
|
|
|
Anticipated Ratings:* |
| A3 (negative outlook) by Moody’s Investors Service, Inc. |
|
|
|
Joint Bookrunners: |
| J.P. Morgan Securities LLC |
|
|
|
Co-Managers: |
| Citigroup Global Markets Inc. |
*Note: A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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 www.sec.gov. 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 J.P. Morgan Securities LLC collect at (212) 834-4533 or Deutsche Bank Securities Inc. toll free at (800) 503-4611.
U.S.$1,000,000,000
TransCanada PipeLines Limited
4.875% Senior Notes due 2048
Issuer: |
| TransCanada PipeLines Limited |
|
|
|
Security: |
| 4.875% Senior Notes due 2048 |
|
|
|
Size: |
| U.S.$1,000,000,000 |
|
|
|
Maturity Date: |
| May 15, 2048 |
|
|
|
Coupon: |
| 4.875% |
|
|
|
Interest Payment Dates: |
| May 15 and November 15, commencing on November 15, 2018 |
|
|
|
Price to Public: |
| 99.157% |
|
|
|
Benchmark Treasury: |
| 2.750% due November 15, 2047 |
|
|
|
Benchmark Treasury Price and Yield: |
| 92-23+ / 3.129% |
|
|
|
Spread to Benchmark Treasury: |
| +180 basis points |
|
|
|
Yield: |
| 4.929% |
|
|
|
Optional Redemption: |
| At any time at the greater of par or a discount rate of Treasury plus 30 basis points |
|
|
|
At Par Redemption: |
| On or after November 15, 2047 |
|
|
|
Trade Date: |
| May 3, 2018 |
|
|
|
Expected Settlement Date: |
| May 7, 2018 (T+2) |
|
|
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CUSIP: |
| 89352HAY5 |
|
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ISIN: |
| US89352HAY53 |
|
|
|
Anticipated Ratings:* |
| A3 (negative outlook) by Moody’s Investors Service, Inc. |
|
|
|
Joint Bookrunners: |
| J.P. Morgan Securities LLC |
|
|
|
Co-Managers: |
| Citigroup Global Markets Inc. |
*Note: A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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 www.sec.gov. 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 J.P. Morgan Securities LLC collect at (212) 834-4533 or Deutsche Bank Securities Inc. toll free at (800) 503-4611.