Filed Pursuant to Rule 433
File No. 333-133703
September 19, 2007
 
 
Canadian National Railway Company

 
Notes
 
Debentures
       
Issuer:
Canadian National Railway Company
   
Security Type:
5.850% Notes due November 15, 2017
 
6.375% Debentures due November 15, 2037
       
Size:
US$250,000,000
 
US$300,000,000
       
Maturity:
November 15, 2017
 
November 15, 2037
       
Coupon:
5.850% per annum, accruing from September 24, 2007
 
6.375% per annum, accruing from September 24, 2007
       
Price to Public:
99.683% of face amount
 
99.743% of face amount
       
Yield to maturity:
5.890%
 
6.393%
       
Spread to Benchmark Treasury:
+135 bp
 
+155 bp
       
Benchmark Treasury:
4.750% due August 15, 2017
 
4.750% due February 15, 2037
       
Benchmark Treasury Price and Yield:
101-21   4.540%
 
98-17+   4.843%
       
Interest Payment Dates:
November 15 and May 15, commencing May 15, 2008
 
November 15 and May 15, commencing May 15, 2008
       
Redemption:
At any time at a discount rate of Treasury plus 25 basis points
 
At any time at a discount rate of Treasury plus 30 basis points
       
Trade Date:
September 19, 2007
   
Settlement Date:
(T+3); September 24, 2007
   
Ratings:
A3/A-/A(low)
   
Underwriters:
Citigroup Global Markets Inc.
J.P. Morgan Securities Inc.
 BMO Capital Markets Corp.
Banc of America Securities LLC
Scotia Capital (USA) Inc.
BNP Paribas Securities Corp.
Wachovia Capital Markets, LLC
RBC Capital Markets Corporation
 

 

 
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

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