A connector assembly for terminating a shielded insulated wire having a conductor core with a sheath of insulation therearound, an outer insulating jacket and a shield between the sheath and the jacket. The assembly includes a dielectric housing mounting an electrically conductive signal terminal for termination to the conductor core of the wire. A conductive grounding terminal is disposed outside the dielectric housing and has an insulation piercing section for displacing the outer insulating jacket of the wire to engage the shield thereof, in response to the application of a force on the grounding terminal generally parallel to the longitudinal axis of the wire. The assembly is applicable for terminating a series of shielded insulated wires, with a plurality of conductive separator plates insert molded to the dielectric housing and individually disposed between adjacent individual signal terminals. When the assembly terminates a plurality of shielded insulated wires, the grounding terminal is a unitary component having shielding portions along two opposite sides of the signal terminals, with the separator plates along the other opposite sides of the signal terminals.