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We present a new parametric macromodeling technique for lossy and dispersive multiconductor transmission lines. This technique can handle multiple design parameters, such as substrate or geometrical layout features, and provide time-domain sensitivity information for voltages and currents at the ports of the lines. It is derived from the dyadic Green's function of the 1-D wave propagation problem. The rational nature of the Green's function permits the generation of a time-domain macromodel for the computation of transient voltage and current sensitivities with respect to both electrical and physical parameters, completely avoiding similarity transformation, and it is suited to generate state-space models and synthesize equivalent circuits, which can be easily embedded into conventional SPICE-like solvers. Parametric macromodels that provide sensitivity information are well suited for design space exploration, design optimization, and crosstalk analysis. Two numerical examples validate the proposed approach in both frequency and time-domain.