diff --git a/CHANGELOG.md b/CHANGELOG.md
index 68b51513c..fccc47b98 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,28 @@
 # Changelog
 
+## v0.32.14
+
+*November 10, 2020*
+
+This release reduces the pings frequency for remote private validators and the
+number of `GetPubKey` requests. Fixes
+[\#5550](https://github.com/tendermint/tendermint/issues/5550).
+
+Special thanks to external contributors on this release:
+@JoeKash, @joe-bowman
+
+Friendly reminder, we have a [bug bounty
+program](https://hackerone.com/tendermint).
+
+### IMPROVEMENTS:
+
+- [consensus] [\#5143](https://github.com/tendermint/tendermint/pull/5143) Only call `privValidator.GetPubKey` once per block (@melekes)
+
+### BUG FIXES:
+
+- [consensus] [\#4895](https://github.com/tendermint/tendermint/pull/4895) Cache the address of the validator to reduce querying a remote KMS (@joe-bowman)
+- [privval] [\#5638](https://github.com/tendermint/tendermint/pull/5638) Increase read/write timeout to 5s and calculate ping interval based on it (@JoeKash)
+
 ## v0.32.13
 
 *August 5, 2020*
diff --git a/CHANGELOG_PENDING.md b/CHANGELOG_PENDING.md
index 093368947..444692c16 100644
--- a/CHANGELOG_PENDING.md
+++ b/CHANGELOG_PENDING.md
@@ -1,4 +1,4 @@
-## v0.32.14
+## v0.32.15
 
 \*\*
 
@@ -19,9 +19,5 @@ program](https://hackerone.com/tendermint).
 
 ### IMPROVEMENTS:
 
-- [consensus] \#5143 Only call `privValidator.GetPubKey` once per block (@melekes)
-
 ### BUG FIXES:
 
-- [consensus] [\#4895](https://github.com/tendermint/tendermint/pull/4895) Cache the address of the validator to reduce querying a remote KMS (@joe-bowman)
-- [privval] \#5638 Increase read/write timeout to 5s and calculate ping interval based on it (@JoeKash)
diff --git a/version/version.go b/version/version.go
index 80b0f2b94..ddc955798 100644
--- a/version/version.go
+++ b/version/version.go
@@ -21,7 +21,7 @@ const (
 	// XXX: Don't change the name of this variable or you will break
 	// automation :)
 
-	TMCoreSemVer = "0.32.13"
+	TMCoreSemVer = "0.32.14"
 
 	// ABCISemVer is the semantic version of the ABCI library
 	ABCISemVer  = "0.16.1"