Filed Pursuant to Rule 433
Registration No. 333-235546
April 2, 2020
U.S.$1,250,000,000
TransCanada PipeLines Limited
4.100% Senior Notes due 2030
Issuer: |
| TransCanada PipeLines Limited |
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Security: |
| 4.100% Senior Notes due 2030 |
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Size: |
| U.S.$1,250,000,000 |
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Maturity Date: |
| April 15, 2030 |
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Coupon: |
| 4.100% |
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Interest Payment Dates: |
| April 15 and October 15, commencing on October 15, 2020 |
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Price to Public: |
| 99.836% |
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Benchmark Treasury: |
| 1.500% due February 15, 2030 |
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Benchmark Treasury Price and Yield: |
| 108-13/0.620% |
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Spread to Benchmark Treasury: |
| 350 basis points |
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Yield: |
| 4.120% |
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Optional Redemption: |
| At any time at the greater of par or a discount rate of Treasury plus 50 basis points |
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At Par Redemption: |
| On or after January 15, 2030 |
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Trade Date: |
| April 2, 2020 |
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Expected Settlement Date: |
| April 6, 2020 (T+2) |
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CUSIP: |
| 89352HBA6 |
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ISIN: |
| US89352HBA68 |
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Joint Bookrunners: |
| J.P. Morgan Securities LLC |
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Co-Managers: |
| Deutsche Bank Securities Inc. |
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 Citigroup Global Markets Inc. toll free at (800) 831-9146.