NEWELL RUBBERMAID INC
424B3, 1999-11-08
GLASS CONTAINERS
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<PAGE>   1

                                            FILED PURSUANT TO RULE NO. 424(B)(3)
                                            REG. NO. 333-47261

PROSPECTUS SUPPLEMENT NO. 16
(TO THE PROSPECTUS DATED MAY 14, 1998)

                        10,000,000 PREFERRED SECURITIES

                             NEWELL RUBBERMAID LOGO

                            NEWELL FINANCIAL TRUST I
            5 1/4% CONVERTIBLE QUARTERLY INCOME PREFERRED SECURITIES
                      (CONVERTIBLE QUIPS(SM)* SECURITIES)
              (LIQUIDATION PREFERENCE $50 PER PREFERRED SECURITY)
   GUARANTEED TO THE EXTENT SET FORTH IN THE PROSPECTUS REFERENCED HEREIN BY,
                     AND CONVERTIBLE INTO COMMON STOCK OF,

                             NEWELL RUBBERMAID INC.
                            ------------------------

     This Prospectus Supplement No. 16 supplements and amends the Prospectus
dated May 14, 1998, as it has previously been supplemented by Prospectus
Supplements dated June 5, 1998, June 25, 1998, July 13, 1998, July 23, 1998,
August 12, 1998, September 8, 1998, October 8, 1998, November 6, 1998, December
8, 1998, January 11, 1999, February 5, 1999, March 15, 1999, April 27, 1999 and
May 26, 1999 and September 29, 1999. The initial May 14, 1998 Prospectus and all
sixteen Prospectus Supplements constitute the current Prospectus.

     The Prospectus relates to: (1) the 5 1/4% Convertible Quarterly Income
Preferred Securities (The Preferred Securities represent preferred undivided
beneficial ownership interests in the assets of Newell Financial Trust I.); and
(2) the shares of common stock of Newell Rubbermaid Inc. that may be issued on
conversion of the Preferred Securities.

     The Selling Holder Table in the Prospectus is amended so that the following
line items read as follows:

<TABLE>
<CAPTION>
                                                                                     SHARES OF COMPANY
                                                                                       COMMON STOCK
                                                                  NUMBER OF            ISSUABLE UPON
                                                             PREFERRED SECURITIES      CONVERSION OF
                                                                  OWNED AND              PREFERRED
                     NAME OF SELLING HOLDER                     OFFERED HEREBY          SECURITIES
                     ----------------------                  --------------------    -----------------
<C>   <S>                                                    <C>                     <C>
168.  University of South Florida Fdn. ....................          3,600                 3,551
172.  Victory Convertible Sec. Fd. ........................         30,000                29,594
Additionally, the following new line items are hereby added to the Selling Holder Table:
217.  Banc of America Securities LLC.......................          6,000                 5,919
218.  Key Asset Management, Inc. as Agent for the
      Parker/Society Convertible Fd. ......................          3,400                 3,354
219.  Key Asset Management, Inc. as Investment Manager for
      the American Booksellers.............................            500                   591
</TABLE>

     SEE "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS FOR A DISCUSSION
OF CERTAIN FACTORS TO BE CONSIDERED IN CONNECTION WITH AN INVESTMENT IN THE
OFFERED SECURITIES.
                            ------------------------

     THE SECURITIES AND EXCHANGE COMMISSION AND STATE SECURITIES REGULATORS HAVE
NOT APPROVED OR DISAPPROVED THESE SECURITIES, OR DETERMINED IF THIS PROSPECTUS
SUPPLEMENT OR THE ACCOMPANYING PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

                            ------------------------
- ---------------------
* QUIPS is a servicemark of Goldman, Sachs & Co.
                            ------------------------

          The date of this Prospectus Supplement is November 8, 1999.


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