Pricing Supplement No. 9 dated August 20, 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 - Floating Rate
Series C
Principal Amount: $100,000,000 Trade Date: August 20, 1998
Issue Price: 100% Original Issue Date: August 25, 1998
Initial Interest Rate: Net Proceeds to Issuer: See "Supplemental
To be determined on August 21, 1998 Plan of Distribution" below.
Agent's Discount or Commission:
See "Supplemental Plan of Distribution"
below.
Stated Maturity Date: August 25, 1999
Base Rate:
[ ] Certificate of Deposit Rate
[ ] CMT Rate
[ ] Commercial Paper Rate
[ ] Eleventh District Cost of Funds Rate
[ X ] LIBOR Telerate: Page 3750 [ ] LIBOR Reuters
[ ] Prime Rate
[ ] Treasury Rate
[ ] Other (see attached)
Interest Rate Determination Dates: the second London Business Day
(as defined in the Prospectus Supplement) prior to
the applicable Interest Rate Reset Date
Interest Rate Reset Dates: November 25, 1998, February 25, 1999
and May 25, 1999
Interest Rate Reset Period: Quarterly
Interest Payment Dates: November 25, 1998, February 25, 1999,
May 25, 1999 and August 25, 1999
Index Maturity: 3 month
Index Currency: US Dollars
Spread (+/-): - 16 basis points (- 0.16%)
Spread Multiplier: N/A
Maximum Interest Rate:
Minimum Interest Rate:
Day Count Convention:
[ ] 30/360 for the period from ________ to ________
[X] Actual/360 for the period from August 25, 1998 to August 25, 1999.
[ ] Actual / Actual for the period from ______ to ________
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 Percentage:
Annual Redemption Percentage Reduction: % until Redemption
Percentage is 100% of the Principal amount.
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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: US Dollars
(If other than US Dollars, see attached.)
Minimum Denomination: $1,000
(Applicable only if Specified Currency is other than US Dollars.)
Original Issue Discount: [ ] [ X ] No
Total amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [ X ] Book-entry [ ] Certificated
Agent action in the capacity indicated below:
[ ] Agent Principal [ X ]
If as Principal:
[ X ] The Notes are being offered at varying
prices related to prevailing market prices at
the time of resale.
[ ] The Notes are being offered at a fixed
initial public offering price of 100% of principal amount.
If as Agent:
The Notes are being offered at a fixed initial public offering
price of 100% of principal amount.
[ X ] Other provisions: (see attached)
Credit Suisse First Boston
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Use of Proceeds:
- ---------------
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 August 14, 1998, the Company's outstanding
commercial paper had a weighted average interest rate of 5.57% with maturities
ranging from 5 to 119 days.
Supplemental Plan of Distribution:
- ---------------------------------
Under the terms of and subject to the conditions of an agreement, dated August
20, 1998, between Credit Suisse First Boston Corporation and the Company, Credit
Suisse First Boston Corporation, acting as principal, has agreed to purchase,
and the Company has agreed to sell, the Notes at 100% of their principal amount.
The Company has also entered into a swap with an affiliate of Credit Suisse
First Boston Corporation in connection with the issuance of the Notes.