Filed under Rule 424(b)(2) Registration No. 33-51613 PRICING SUPPLEMENT NO. 7 DATED June 15, 1995 (To Prospectus Dated June 14, 1994 and Prospectus Supplement Dated June 14, 1994) U.S. $ 10,000,000 Principal Amount CARPENTER TECHNOLOGY CORPORATION Medium-Term Notes, Series A Due from Nine Months to 30 Years from Date of Issue Issue Date: June 19, 1995 Maturity Date: June 19, 2002 By Agency Transaction: Public Offering Price (%): U.S. $ 10,000,000 (100%) Proceeds to Company (%): U.S. $ 9,945,000 (99.45%) Distributor's Commission (%): U.S. $ 55,000 (0.55%) Original Issue Discount Security: Yes_____ No: X Fixed Rate of Interest: Six and 78/100 percent (6.78%) per annum Interest Payment Date(s): January 15 and July 15 Regular Record Date(s): January 1 and July 1 Name of Distributors: CS First Boston Corporation and J. P. Morgan Securities, Inc.