Pricing Supplement No. 2 dated May 25, 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 Merrill Lynch, Pierce, Fenner & Smith Incorporated, acting as principal. The notes are being offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated at a fixed initial public offering price of 100% of the principal amount. Principal Amount: $8,500,000 Original Issue Date: June 1, 2000 Interest Rate: 7.95% per annum Net Proceeds to Colgate-Palmolive: $8,446,875 Stated Maturity Date: June 1, 2010 Agent's Discount or Commission: $53,125 Interest Payment Dates: Colgate-Palmolive will pay interest on the notes in U.S. dollars on the first day of June and December of each year, commencing December 1, 2000, up to June 1, 2010. 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: - --------------- 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 25, 2000, Colgate-Palmolive's outstanding commercial paper had a weighted average interest rate of 6.45% with maturities ranging from 5 to 57 days.