<PAGE> 1
Filed Pursuant to Rule 424(b)(5)
Registration File Nos.
333-33736 and 333-33736-01
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 DEFERRED EQUITY SECURITIES
(HIGH TIDESSM)
The Prospectus dated June 27, 2000 relating to resales by selling
shareholders of 5 1/2% Convertible Preferred Securities, Remarketable Term
Income Deferrable Equity Securities (HIGH TIDESSM ) (the "Prospectus"), is
hereby supplemented by (i) deleting the selling holder "Partner Reinsurance
Company Ltd." and deleting such selling holder's respective number of HIGH
TIDES; and (ii) amending the "Selling Holders" section on pages 23-25 thereof,
by inserting the following as new selling holders in the appropriate
alphabetical location:
<TABLE>
<CAPTION>
NUMBER
OF
HIGH
TIDES
SELLING HOLDER -------
<S> <C>
Baptist Health of South Florida............................. 2,236
Clinton Riverside Convertible Portfolio Limited............. 45,000
Goldman Sachs & Company..................................... 12,533
Morgan Stanley & Co. ....................................... 125,000
Partner Reinsurance Company of the U.S. .................... 10,000
Pilgrim Convertible Fund.................................... 60,895
Prudential Securities Inc. ................................. 11,995
Susquehanna Capital Group................................... 71,642
</TABLE>
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Prospectus Supplement dated July 14, 2000
