View:
Pricing Supplement No. 3 dated June 11, 1998 Rule 424(b)(3)
(To Prospectus dated April 1, 1996 File No. 33-58887
and Prospectus Supplement dated April 1, 1996)
Colgate-Palmolive Company
Medium-Term Notes - Fixed Rate
Series C
Principal Amount: $17,000,000 Trade Date: June 11, 1998
Issue Price: 98.906% Original Issue Date: June 16, 1998
Interest Rate: 6.45% per annum Net Proceeds to Issuer: $16,686,520
Agent's Discount or Commission: $127,500
Stated Maturity Date: June 16, 2028
Interest Payment Dates: Semi-Annually (See "Other Provisions - Interest" below).
Day Count Convention:
[ X ] 30/360 for the period from June 16, 1998 to June 16, 2028
[ ] Actual/360 for the period from _____ to _____
[ ] Actual/Actual for the period from _____ to _____
Redemption:
[ X ] The Notes cannot be redeemed by the Company prior to the
Stated Maturity Date.
[ ] The Notes may be redeemed by the Company prior to the Stated
Maturity Date.
Initial Redemption Date:
Initial Redemption Percentage: ____%
Annual Redemption Percentage Reduction: ____% until
Redemption Percentage is 100% of the Principal amount.
Optional Repayment:
[ X ] The Notes cannot be repaid at the option of the holder
thereof prior to the Stated Maturity Date.
[ ] The Notes can be repaid at the option of the holder thereof
prior to the Stated Maturity Date at Optional Repayment
Date(s):
Repayment Price: _____%
Currency:
Specified Currency: US Dollars
(If other than US Dollars, see attached.)
Minimum Denomination: $___________
(Applicable only if Specified Currency is other than
US Dollars.)
Original Issue Discount: [ ] Yes [ X ] No
Total amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [ X ] Book-entry [ ] Certificated
Agent action in the capacity indicated below:
[ X ] Agent Principal [ ]
If as Principal: N/A
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[ ] The Notes are being offered at varying prices related to
prevailing market prices at the time of resale.
[ ] The Notes are being offered at a fixed initial public offering
price of 100% of principal amount.
If as Agent:
The Notes are being offered at a fixed initial public offering price of
98.906% of principal amount.
[ X ] Other provisions: see attached
______________________________
Lazard Freres & Co. LLC
Other Provisions:
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Interest:
Interest on the Notes will accrue from June 16, 1998 and will be
payable in U.S. dollars on the first day of June and December of each
year, commencing December 1, 1998 up to and including the Stated
Maturity Date (each, an "Interest Payment Date"). Interest will accrue
from and including each Interest Payment Date (or from June 16, 1998,
if no interest has been paid or duly provided for) to but excluding the
next succeeding Interest Payment Date. In the event an Interest Payment
Date falls on a day other than a Business Day, interest will be paid on
the next succeeding Business Day and no interest on such payment shall
accrue for the period from and after such Interest Payment Date to such
next succeeding Business Day.
Use of Proceeds:
- - ---------------
The net proceeds from the sale of the Notes will be used by the Company
to retire commercial paper which was issued by the Company for general
corporate purposes and working capital. As of June 12, 1998, the
Company's outstanding commercial paper had a weighted average interest
rate of 5.5% with maturities ranging from 1 to 155 days.