Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 17

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 17
---
, or on behalf of, The Depository Trust Company, and registered in the name of its nominee. See “Description of the 
 Notes—Book-Entry System”. Except as described under “Description of the Notes”, Notes in certificated form will not be issued.                                                                                                  |

S-10

| Trustee, Paying Agent and Transfer Agent | Computershare Trust Company, N.A. |

| Governing Law | The Notes and the Indenture (as defined herein) will be governed by and construed in accordance with the laws of the State of New York. |

| Risk Factors | Investing in the Notes involves risks. See “Risk Factors” beginning on page S-13 of this prospectus supplement for a discussion of factors that you should refer to and carefully consider before deciding to invest in the 
 Notes.                                                                                                                                                                                                                      |

| Listing | The Notes are a new issue of securities with no established trading market. We will apply to list the Notes on the NYSE. Listing will be subject to us fulfilling all the listing requirements of the NYSE. If approved for listing, trading on the 
 NYSE is expected to commence within 30 days after the Notes are first issued.                                                                                                                                                                       |

| Trading | The Notes are expected to trade “flat”, meaning that purchasers will not pay and sellers will not receive any accrued and unpaid interest on the Notes that is not included in the trading price. |

| Certain Income Tax Considerations | For a discussion of material income tax considerations that may be relevant to an investment in the Notes, see “Certain Income Tax Considerations” in this prospectus supplement. |

| Conflicts of Interest | Proceeds from the sale of the Notes may be used to reduce indebtedness which we or our subsidiaries may have with subsidiaries or affiliates of the Underwriters or may be invested in short-term marketable                                
 debt instruments, including of or with the Underwriters or their affiliates. See “Use of Proceeds” in this prospectus supplement. As a result, one or more of such Underwriters or their affiliates may receive more than 5% of the net     
 proceeds from the offering of the Notes in the form of the repayment of such indebtedness. Accordingly, the offering of the Notes is being made pursuant to Rule 5121 of the Financial Industry Regulatory Authority, Inc. Pursuant to this 
 rule, the appointment of a qualified independent underwriter is not necessary in connection with this offering because the conditions of Rule 5121(a)(1)(C) are satisfied.                                                                  |

S