The first-half was a tit-for-tat affair with both sides failing to capitalise on big chances.
Chelsea's star striker and Matildas captain Sam Kerr had a frustrating day in front of goal, hitting the side netting and missing several good chances.
It took Chelsea just four minutes to capitalise when Bright struck a ball from 25 yards out past City's Golden Glove winning keeper Ellie Roebuck and into the top-right corner.
Cuthbert ensured Chelsea's victory -- to add to their WSL title and Continental Cup win -- when a Maren Mjelde cross was deflected to Cuthbert on 92 minutes and she buried the strike.
"Obviously, scoring at Wembley is unbelievable," Bright said after the game.
"I think we were confident coming into the game. The game was pretty tense."