<PAGE> 1
Filed Pursuant to Rule 424(b)(5)
Registration Statement No. 333-47068
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED NOVEMBER 14, 2000
OF
CALPINE CORPORATION
RELATING TO
RESALES BY SELLING SHAREHOLDERS
OF
5% CONVERTIBLE PREFERRED SECURITIES
REMARKETABLE TERM INCOME DEFERRABLE EQUITY SECURITIES
(HIGH TIDES(SM))
The Prospectus dated November 14, 2000, as supplemented to date (the
"Prospectus") relating to resales by selling shareholders of 5% Convertible
Preferred Securities, Remarketable Term Income Deferrable Equity Securities
(HIGH TIDES(SM)), is hereby supplemented by amending the "Selling Holders"
section on pages 24-28 thereof, by inserting the following as new selling
holders in the appropriate alphabetical location:
<TABLE>
<CAPTION>
NUMBER OF
SELLING HOLDER HIGH TIDES
-------------- ----------
<S> <C>
BBT Fund, L.P............................................... 104,500
CFFX, LLC................................................... 81,500
Hare and Co. c/o the Bank of New York(1).................... 17,500
Hare and Co. c/o the Bank of New York(2).................... 17,500
</TABLE>
In addition, the Prospectus is further supplemented by changing the entries
under the column "Number of HIGH TIDES" with respect to the Selling Holders
identified below to the corresponding entries below the column "New Number of
HIGH TIDES" set forth below.
<TABLE>
<CAPTION>
NEW
NUMBER OF
SELLING HOLDER HIGH TIDES
-------------- ----------
<S> <C>
Banc of America Securities LLC.............................. 133,760
Credit Suisse First Boston Corporation...................... 750,000
</TABLE>
------------------------
Prospectus Supplement dated November 27, 2000
---------------
(1) As Record Owner for Bancroft Convertible Fund, Inc., the Beneficial Owner.
(2) As Record Owner for Ellsworth Convertible Growth and Income Fund, Inc., the
Beneficial Owner.
