CALGARY, ALBERTA--(Marketwired - Dec. 31, 2014) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Corporation) announced today that 12,501,577 of its 22,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) were tendered for conversion today, on a one-for-one basis into floating-rate Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares). As a result of the conversion TransCanada has 9,498,423 Series 1 Shares and 12,501,577 Series 2 Shares issued and outstanding. The Series 1 Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol TRP.PR.A. The Series 2 Shares will begin trading on the TSX today under the symbol TRP.PR.F

The Series 1 Shares will continue to pay on a quarterly basis, for the five-year period beginning on December 31, 2014, as and when declared by the Board of Directors of TransCanada, a fixed dividend based on an annual fixed dividend rate of 3.266 per cent.

The Series 2 Shares will pay a floating quarterly dividend for the five-year period beginning on December 31, 2014, as and when declared by the Board of Directors of TransCanada. The floating quarterly dividend rate for the Series 2 Shares for the first quarterly floating rate period (being the period from December 31, 2014 to but excluding March 31, 2015) is 2.815 per cent and will be reset every quarter.

For more information on the terms of, and risks associated with an investment in, the Series 1 Shares and the Series 2 Shares, please see the Corporation's prospectus supplement dated September 22, 2009 which can be found under the Corporation's profile on SEDAR at

With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with more than 400 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,900 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit and our blog to learn more, or connect with us on social media and 3BL Media.


This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated November 3, 2014 and 2013 Annual Report filed under TransCanada's profile on SEDAR at and with the U.S. Securities and Exchange Commission at

Contact Information:

Media Enquiries:
Shawn Howard / Mark Cooper
403.920.7859 or 800.608.7859

TransCanada Investor & Analyst Enquiries:
David Moneta / Lee Evans
403.920.7911 or 800.361.6522