View:
Pricing Supplement No. 12 dated November 3, 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
We are hereby offering to sell Notes having the terms specified below to you
with the assistance of Salomon Smith Barney Inc., acting as agent, at a fixed
initial public offering price of 99.957% of the Principal Amount.
Principal Amount: $20,000,000 Original Issue Date: November 6, 1998
Interest Rate: 5.65% per annum Net Proceeds to Company: $19,991,400
Stated Maturity Date: December 1, 2011 Agent's Discount or Commission: See
"Supplemental Plan of Distribution"
below.
Interest Payment Dates: Semi-Annually (See "Other Provisions - Interest" below).
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: U.S. dollars
(If other than U.S. dollars, see attached.)
Minimum Denomination: $___________
(Applicable only if Specified Currency is other than U.S. dollars.)
Original Issue Discount: [ ] Yes [ X ] No
Total amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [ X ] Book-entry [ ] Certificated
[ X ] Other provisions:
Interest:
Interest on the Notes will accrue from November 6, 1998 and will be
payable in U.S. dollars on the first day of June and December of each
year, commencing June 1, 1999 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 November 6, 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:
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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.
Supplemental Plan of Distribution:
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Salomon Smith Barney Inc., the agent, will receive no commission in
respect of the sale of the Notes. An affiliate of Salomon Smith Barney
Inc. may receive compensation in connection with a swap agreement
entered into with the Company.