Pricing Supplement No. 10 dated October 30, 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 - Floating Rate
Series C
We are hereby offering to sell Notes having the terms specified below to
you with the assistance of Goldman, Sachs & Co., acting as agent, at a fixed
initial public offering price of 100% of the Principal Amount.
Principal Amount: $29,162,000 Trade Date: October 30, 1998
Issue Price: 100% Original Issue Date: November 4, 1998
Initial Interest Rate: 5.05531% Net Proceeds to Issuer: $28,870,380
Stated Maturity Date: November 3, 2078 Agent's Discount or Commission: $291,620
Base Rate:
[ ] Certificate of Deposit Rate
[ ] CMT Rate
[ ] Commercial Paper Rate
[ ] Eleventh District Cost of Funds Rate
[ X ] LIBOR Telerate: Page 3750 [ ] LIBOR Reuters
[ ] Prime Rate
[ ] Treasury Rate
[ ] Other (see attached)
Interest Rate Reset Dates: February 3, May 3, August 3 and November 3 of each
year, commencing on February 3, 1999.
Interest Rate Reset Period: Quarterly
Interest Payment Dates: February 3, May 3, August 3 and November 3 of each year,
commencing on February 3, 1999.
Index Maturity: 3 month
Index Currency: US Dollars
Spread (+/-): - 21 basis points (- 0.21%)
Spread Multiplier: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Day Count Convention:
[ ] 30/360 for the period from ________ to ________
[ X ] Actual / 360
for the period from November 4, 1998 to November 3, 2078.
[ ] Actual / Actual for the period from to
Redemption:
[ ] The Notes cannot be redeemed by the Company prior to the
Stated Maturity Date.
[ X ]The Notes may be redeemed by the Company prior to the Stated
Maturity Date.
The Notes may be redeemed, under the conditions provided in the Prospectus
Supplement dated April 1, 1996, on November 3rd of each of the years set forth
below, at the amounts set forth below (expressed as percentages of the Principal
Amount of the Notes) corresponding to the years set forth below, together with
any accrued interest to the Redemption Date.
Redemption Date Redemption Price
--------------- ----------------
November 3, 2028 105.00%
November 3, 2029 104.50%
November 3, 2030 104.00%
November 3, 2031 103.50%
November 3, 2032 103.00%
November 3, 2033 102.50%
November 3, 2034 102.00%
November 3, 2035 101.50%
November 3, 2036 101.00%
November 3, 2037 100.50%
and thereafter on
November 3 of any
year at 100%
Optional Repayment:
[ ] The Notes cannot be repaid at the option of the holder thereof
prior to the Stated Maturity Date.
[ X ] The Notes can be repaid at the option of the holder thereof
prior to the Stated Maturity.
The holder of the Notes may elect to cause the Company to repurchase the Notes,
under the conditions provided in the Prospectus Supplement dated April 1, 1996,
on November 3rd of each of the years set forth below, at the amounts set forth
below (expressed as percentages of the Principal Amount of the Notes)
corresponding to the years set forth below, together with any accrued interest
to the Repurchase Date.
Repurchase Date Repurchase Price
--------------- ----------------
November 3, 2008 99.00%
November 3, 2011 99.25%
November 3, 2014 99.50%
November 3, 2017 99.75%
November 3, 2020 100.00%
on November 3 every
3 years thereafter 100.00%
(i.e., 2023, 2026,
2029, 2032, etc.)
Currency:
Specified Currency: US Dollars
(If other than US Dollars, see attached.)
Minimum Denomination: $1,000
(Applicable only if Specified Currency is other than US Dollars.)
Original Issue Discount: [ ] [ X ] No
Total amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [ X ] Book-entry [ ] Certificated
[ ] Other provisions:
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 October 30 1998, the Company's outstanding
commercial paper had a weighted average interest rate of 5.2904% with maturities
ranging from 3 to 89 days.
