Rule 424(b)(3) Registration No. 333-68885 PRICING SUPPLEMENT NO. 1 DATED JUNE 9, 1999 (To Prospectus Dated January 5, 1999 as supplemented by Prospectus Supplement Dated May 7, 1999) U. S. $400,000,000 CSX CORPORATION Medium-Term Notes, Series C Principal Amount: $250,000,000 Redemption Terms (at option of CSX) ------------ [X] Not redeemable prior to Stated Maturity Issue Price (Dollar Amount and [ ] Redeemable in accordance with the Percentage of Principal Amount): following terms: $250,000,000; 100% - ------------------ Repayment Terms (at option of the Holder): Settlement Date (Issue Date): 6/11/1999 [X] Not repayable prior to Stated - --------- Maturity [ ] Repayable in accordance with the Stated Maturity: 6/15/2000 following terms: --------- Sinking Fund Provisions: Type of Note: [X} None [ ] Fixed Rate Note [ ] Applicable in accordance with the [X] Floating Rate Note following terms [ ] Inverse Floating Rate Note [ ] Zero Coupon Note Specified Currency (U.S. dollars, unless [ ] Foreign Currency Note otherwise indicated): [ ] Indexed Note ------------------- Form: Agents: Goldman Sachs ------------- [X] Book Entry [ ] Definitive Agents acting in capacity indicated below: CUSIP No: 12641L BW 2 ------------ [X] As Agent [ ] As Principal Interest Rate Index: LIBOR - Telerate ---------------- Agent's Commission: $- 0 - Index Maturity: 3 months ------- -------- Net Proceeds to CSX: $250,000,000 Spread: Plus 28 Basis Points ----------- -------------------- Other: Designated LIBOR Page: 3750 ---- Initial Interest Rate: 5.38% ----- Interest Payment Dates: Quarterly on ------------ the 15th day of each March, June, - --------------------------------- September and December - ---------------------- Interest Reset Dates: Quarterly on ------------ the 15th day of each March, June, - --------------------------------- September and December - ---------------------- Interest Determination Dates: 2nd --- London Market Day preceding Interest - ------------------------------------ Reset Date - ----------