Filed pursuant to Rule 433

 

 

Registration No. 333-125343

 

 

August 10, 2006

 

Canadian Natural Resources Limited

Pricing Term Sheet

 

Issuer:

 

Canadian Natural Resources Limited

 

 

Ratings:

 

Baa1/BBB+/BBB (high) (stable trend/negative outlook/stable trend)

 

 

Security Type:

 

SEC Registered

 

 

 

 

 

 

10yr

 

30yr

 

 

 

 

 

Size:

 

$250mm

 

$450mm

Maturity:

 

8/15/16

 

2/15/37

Coupon:

 

6.00

 

6.50

Price:

 

99.785

 

99.344

Yield:

 

6.029

 

6.55

Spread:

 

+108

 

+143

TSY:

 

UST 5.125 5/16

 

UST 5.375 2/31

TSY Spot:

 

101-11

 

103-17

Settlement Date:

 

8/17/06

 

8/17/06

Pay Dates

 

2/15 & 8/15 commencing 2/15/07

 

 

M-W:

 

T+20

 

T+25

Bookrunners:

 

JPM/C

 

 

Co-Mgrs:

 

RBC/CIBC/Scotia Capital/BMO/BAS/BNP/DB/Lazard/Daiwa

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P.Morgan Securities Inc. collect at 1-212-834-4533 or Citigroup Global Markets Inc. toll free at 1-877-858-5407.