Pricing Supplement No. 1 dated May 10, 2000 Rule 424(b)(3)
(To Prospectus dated May 10, 2000 File No. 333-33644
and Prospectus Supplement dated May 10, 2000)
Colgate-Palmolive Company
Medium-Term Notes - Fixed Rate Notes
Series D
We are hereby offering to sell Notes having the terms specified below to
you with the assistance of the agents named below, each acting as principal.
The Notes are being offered by the agents at a fixed initial public offering
price of 100% of the principal amount.
Principal Amount: $175,000,000 Original Issue Date: May 15, 2000
Interest Rate: 7.84% per annum Net Proceeds to Colgate-Palmolive: $173,950,000
Stated Maturity Date: May 15, 2007 Agents' Discount or Commission: $1,050,000
Interest Payment Dates: Colgate-Palmolive will pay interest on the Notes
in U.S. dollars on the fifteenth day of May and
November of each year, commencing November 15,
2000, up to May 15, 2007.
Redemption: The Notes may not be redeemed by Colgate-Palmolive
prior to the stated maturity date.
Optional Repayment: The Notes cannot be repaid at the option of the
holder thereof prior to the stated maturity date.
Specified Currency: U.S. dollars
Form: The Notes are being issued in fully registered
book-entry form.
Other provisions:
Use of Proceeds:
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The net proceeds from the sale of the Notes will be used by
Colgate-Palmolive to retire commercial paper which was issued by
Colgate-Palmolive for general corporate purposes and working
capital. As of May 10, 2000, Colgate-Palmolive's outstanding
commercial paper had a weighted average interest rate of 6.14% with
maturities ranging from 1 to 72 days.
Agents: x Chase Securities Inc. x Merrill Lynch & Co.
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x Goldman, Sachs & Co. x J.P. Morgan & Co.
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Lazard Freres & Co. LLC x Salomon Smith Barney
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x The Williams Capital Group, L.P.
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Each of the agents has severally agreed to purchase from
Colgate-Palmolive, and Colgate-Palmolive has agreed to sell to the agents, the
principal amount of Notes set forth opposite the agent's name below:
Principal Amount
Name of Agent of Notes
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Merrill Lynch, Pierce, Fenner & Smith
Incorporated......................................... $45,000,000
Chase Securities Inc............................................. 30,000,000
Goldman, Sachs & Co.............................................. 30,000,000
J.P. Morgan Securities Inc ...................................... 30,000,000
Salomon Smith Barney Inc......................................... 30,000,000
The Williams Capital Group, L.P.................................. 10,000,000
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$175,000,000
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Supplemental Plan of Distribution:
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Under the terms of and subject to the conditions of an agreement,
dated as of May 10, 2000, between The Williams Capital Group, L.P.
and Colgate-Palmolive, The Williams Capital Group, L.P., acting as
principal, has agreed to purchase, and Colgate-Palmolive has agreed
to sell, the $10,000,000 principal amount of Notes set forth
opposite its name above.