Pricing Supplement No. 2 Dated April 2, 1998 Rule 424 (b) (3)
(To Prospectus dated February 13, 1998 and File No. 333-44757
Prospectus Supplement dated March 31, 1998)
CARPENTER TECHNOLOGY CORPORATION
Medium-Term Notes - Fixed Rate
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Principal Amount: $20,000,000 Interest Rate: 6.44% Issued Price: $20MM(100%)
Agent's Discount Commission: $110,000 (.55%) Original Issue Date: 4/6/98
Stated Maturity Date: 4/7/2005
Net Proceeds to Issuer: $19,890,000 (99.45%)
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Interest Payment Dates: April 15 and October 15
Redemption:
X The Notes cannot be redeemed prior to the Stated Maturity Date.
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The Notes may be redeemed prior to the Stated Maturity Date.
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Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction: % until Redemption
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percentage is 100% of the principal amount.
Optional Repayment:
X The Notes cannot be repaid prior to the Stated Maturity Date.
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The Notes can be repaid prior to the Stated Maturity Date at the option
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of the Holder of the Notes.
Optional Repayment Dates:
Repayment Price: %
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Currency:
Specified Currency:
(If other than U.S. Dollars, see attached)
Minimum Denominations:
(Applicable only if Specified Currency is other than U.S. Dollars)
Original Issue Discount ("OID"): Yes X No
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Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: X Book-Entry Certificated
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Agent: X J. P. Morgan Securities Inc.
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Credit Suisse First Boston Corporation
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Agent acting in the capacity as indicated below:
X Agent Principal
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If as principal:
The Notes are being offered at varying prices related to prevailing
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market prices at the time of resale.
The Notes are being offered at a fixed initial public offering price
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of % of principal amount.
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If as Agent:
The Notes are being offered at a fixed initial public offering price of
100% of Principal Amount.
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Exchange Rate Agent:
Other Provisions: See attached Addendum
ADDENDUM TO PRICING SUPPLEMENT FOR
CARPENTER TECHNOLOGY CORPORATION
6.44% MEDIUM TERM NOTES, DUE APRIL 7, 2005
CUSIP No. 14428TAQ4
Interest payable to:
The Depository Trust Company
P.O. Box 20
Bowling Green Station
New York, N.Y. 10004
Deliver Notes to:
The Depository Trust Company
55 Water Street
Interface/Underwriting Department
1st Floor South
New York, N.Y. 10041
Registered Owner:
Cede & Company
P.O. Box 20
Bowling Green Station
New York, N.Y. 10004
Taxpayer ID No.
13-2555119
Confirmed for Carpenter Technology Corporation
By: s/G. Walton Cottrell
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G. Walton Cottrell
Senior Vice President - Finance and
Chief Financial Officer
