Company: ENBSF
Filing Date: 2025-06-18
Form Type: 424B5
Source: 0001104659-25-060642
Chunk: 24

Company: ENBRIDGE INC
Filing Date: 2025-06-18
Form: 424B5
Chunk 24
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 a redemption price equal
to 100% of the principal amount of the applicable series of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption
date.

“Par Call
Date” means (i) May 20, 2028 (one month prior to the maturity date of the 2028 Notes), in the case of the 2028 Notes, (ii) May
20, 2030 (one month prior to the maturity date of the 2030 Notes), in the case of the 2030 Notes, (iii) March 20, 2035
(three months prior to the maturity date of the 2035 Notes), in the
case of the 2035 Notes and (iv) October 5, 2053 (six months prior to the maturity date of the New 2054 Notes), in the case
of the New 2054 Notes.

“Treasury Rate”
means, with respect to any redemption date, the yield determined by us in accordance with the following two paragraphs.

| S-16 |

The Treasury Rate shall be
determined by the Corporation after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted
daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the redemption date based upon the
yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the
Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any successor
designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal”
(or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the Corporation shall select, as applicable:
(1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the applicable Par
Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the
Remaining Life, the two yields – one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and
one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life – and shall interpolate
to the applicable Par Call Date on a straight-line basis (using the