<PAGE> 1
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-33736
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED JUNE 27, 2000
OF
CALPINE CORPORATION
RELATING TO
RESALES BY SELLING SHAREHOLDERS
OF
5 1/2% CONVERTIBLE PREFERRED SECURITIES
REMARKETABLE TERM INCOME DEFERRABLE EQUITY SECURITIES
(HIGH TIDES(SM))
The Prospectus dated June 27, 2000, as supplemented to date (the
"Prospectus") relating to resales by selling shareholders of 5 1/2% Convertible
Preferred Securities, Remarketable Term Income Deferrable Equity Securities
(HIGH TIDES(SM)), IS HEREBY SUPPLEMENTED BY AMENDING THE "SELLING HOLDERS"
SECTION ON PAGES 23-25 THEREOF, BY INSERTING THE FOLLOWING AS A NEW SELLING
HOLDER IN THE APPROPRIATE ALPHABETICAL LOCATION:
<TABLE>
<CAPTION>
NUMBER OF
SELLING HOLDER HIGH TIDES
-------------- ----------
<S> <C>
UBS O'Connor LLC F/B/O UBS Global Equity Arbitrage Master
Limited................................................... 102,130
William Blair & Co. L.L.C................................... 150
</TABLE>
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Prospectus Supplement dated November 16, 2000
