Pricing Supplement No. 1 dated August 7, 2000                Rule 424(b)(3)
(To Prospectus dated June 23, 2000                           File No. 333-33644
and Prospectus Supplement dated June 23, 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, at varying prices related to prevailing market prices at
the time of resale.

Principal Amount:  $25,000,000        Original Issue Date:   August 21, 2000
Interest Rate:     7.50% per annum    Net Proceeds to Company:  $25,000,000
                                      Stated Maturity Date:     August 21, 2015
                                      Agent's Discount or Commission:
                                       See "Supplemental Plan of Distribution"
                                       below.


Interest Payment Dates:    Colgate will pay interest on the Notes in U.S.
                           dollars on the twenty-first day of February and
                           August of each year, commencing February 21, 2001,
                           up to and including August 21, 2015 or the date of
                           earlier redemption.

Redemption:                The Notes may be redeemed at the option of Colgate
                           prior to the stated maturity date. See "Other
                           Provisions-Optional Redemption" below.

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
         to retire commercial paper which was issued by Colgate for general
         corporate purposes and working capital. As of August 7, 2000,
         Colgate's outstanding commercial paper had a weighted average
         interest rate of 6.57% with maturities ranging from 1 to 57 days.

Optional Redemption:

         Colgate may at its option elect to redeem the Notes in whole, but not
         in part, on August 21, 2003 or on any interest payment date
         thereafter at 100% of their principal amount plus accrued interest to
         but excluding the date of redemption. In the event Colgate elects to
         redeem the Notes, notice will be given to registered holders not more
         than 60 nor less than 30 days prior to the date the Notes are to be
         redeemed.







Redemption Risks:

         Colgate may be expected to redeem the Notes on the redemption dates
         specified above if prevailing interest rates on those dates are
         anticipated to be lower than the rate borne by the Notes. Upon any
         such redemption, registered holders and beneficial owners of the
         Notes generally will not be able to reinvest the redemption proceeds
         in a comparable security at an effective interest rate as high as the
         interest rate on the Notes. Accordingly, prospective investors should
         consider the related reinvestment risk in light of other investments
         available at the time of an investment in the Notes.

         The ability of Colgate to redeem the Notes at its option is likely to
         affect the market value of the Notes. In particular, as a redemption
         date approaches, the market value of the Notes generally will not
         rise substantially above the redemption price because of this
         optional redemption feature.

Supplemental Plan of Distribution:

         Merrill Lynch, Pierce, Fenner & Smith Incorporated, acting as
         principal, has agreed to purchase, and Colgate has agreed to sell,
         the Notes at 100% of their principal amount, for resale at varying
         prices related to prevailing market prices and the terms of resale.
         Merrill Lynch, Pierce, Fenner & Smith Incorporated will realize
         benefits in connection with a swap agreement to be entered into
         between one of its affiliates and Colgate.

United States Federal Income Taxation

         As noted in the Prospectus Supplement dated June 23, 2000, the
         Treasury Department has issued new final regulations which generally
         attempt to unify certification standards and modify reliance
         standards with respect to withholding tax on income paid to foreign
         persons and backup withholding. In particular, these regulations
         replace the current IRS Form W-8, Form 4224 and Form 1001 with
         various revised IRS Forms W-8 and provide that the current Form W-8,
         Form 4224 and Form 1001 will be invalid after December 31, 2000.
         Therefore, holders of Notes will be required to file the appropriate
         revised Form W-8 before December 31, 2000.