PROSPECTUS Pricing Supplement No. 1758
Dated July 12, 1993 Dated January 20, 1994
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
No. 33-58506
Dated July 12, 1993 Rule 424(b)(3)-Registration Statement
No. 33-58508
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES
(Floating Rate Notes)
Series: A __ B X C __ Trade Date: January 20, 1994
Principal Amount (in Specified Currency): US$100,000,000
Settlement Date (Original Issue Date): February 22, 1994
If Specified Currency is other than U.S. dollars,
equivalent amount in U.S. dollars: N/A
Maturity Date: February 22, 1996
Agent's Discount or Commission: 0.20%
Price to Public (Issue Price): 100%
Net Proceeds to Issuer (in Specified Currency): US$99,800,000
Interest Rate:
Interest Calculation:
__ Regular Floating Rate
__ Inverse Floating Rate
(Fixed Interest Rate):
__ Other Floating Rate: Three Month LIBOR (as defined herein)
plus 0.75% or 0.00% as determined on each Interest Rate
Determination Date (as described below under "Additional
Terms")
Interest Rate Basis: __ CD Rate __ Commercial Paper Rate
__ Federal Funds Rate __ LIBOR __ Prime Rate
X Other (as described below under "Additional Terms")
Spread (Plus or Minus): N/A Spread Multiplier: N/A
Index Maturity: N/A Index Currency: N/A
Maximum Interest Rate: N/A Minimum Interest Rate: 0%
CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED
IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO
THEM IN THE PROSPECTUS SUPPLEMENT.
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(Floating Rate Notes)
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
Alternate Rate Event Spread: N/A
Initial Interest Rate Per Annum: See "Additional Terms" below.
Interest Payment Period:
__ Annual __ Semi-Annual __ Monthly X Quarterly
Interest Payment Dates if other than as set forth in the
Prospectus Supplement: The 22nd of May, August, November and
February commencing on May 22, 1994.
Interest Reset Periods and Dates:
__ Daily __ Weekly __ Monthly X Quarterly(*)
__ Semiannually: months in which reset:
__ Annually: month in which reset:
(*) See "Additional Terms" below.
Interest Rate Determination Dates if other than as set forth in
the Prospectus Supplement: See "Additional Terms" below.
Form of Notes:
Temporary global note to permanent global note deposited with or
on behalf of a common depository for Euroclear and Cedel, S.A. The
Notes will be available in denominations of $10,000 and $100,000.
Repayment, Redemption and Acceleration:
Optional Repayment Date: N/A
Annual Redemption Percentage Reduction: N/A
Initial Redemption Date: N/A
Modified Payment Upon Acceleration: N/A
Initial Redemption Percentage: N/A
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
Original Issue Discount:
Amount of OID: N/A
Interest Accrual Date: N/A
Yield to Maturity: N/A
Initial Accrual Period OID: N/A
Amortizing Notes:
Amortization Schedule: N/A
Dual Currency Notes:
Face Amount Currency: N/A
Option Value Calculation Agent: N/A
Optional Payment Currency: N/A
Option Election Date(s): N/A
Designated Exchange Rate: N/A
Indexed Notes:
Currency Base Rate: N/A
Determination Agent: N/A
Additional Terms:
Interest.
Interest on the Notes is payable quarterly on the 22nd day of
May, August, November and February, commencing on May 22, 1994
(each, an "Interest Payment Date"). The interest rate per annum
applicable to each quarterly period commencing on the immediately
preceding Interest Payment Date (or in the case of the initial
interest period, commencing on the Issue Date) to but excluding the
next Interest Payment Date will be determined by the Calculation
Agent (as defined below) in accordance with the following:
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
(i) On each Interest Rate Determination Date (as defined below)
with respect to an Interest Reset Date (as defined below)
during the period commencing on the Issue Date to but
excluding August 22, 1994, the Calculation Agent shall
determine whether Three Month LIBOR (as defined below) is
greater than or equal to 3.00% and less than or equal to
4.00%. If Three Month LIBOR on such Interest Rate
Determination Date falls within such range, interest will
accrue at the Coupon Rate (as defined below) for such day.
If Three Month LIBOR on such date falls outside of such
range, then no interest will accrue on such date.
(ii) On each Interest Rate Determination Date with respect to an
Interest Reset Date during the period commencing on August
22, 1994 to but excluding February 22, 1995, the Calculation
Agent shall determine whether Three Month LIBOR is greater
than or equal to 3.00% and less than or equal to 4.75%. If
Three Month LIBOR on such Interest Rate Determination Date
falls within such range, interest will accrue at the Coupon
Rate for such day. If Three Month LIBOR on such date falls
outside of such range, then no interest will accrue on such
date.
(iii) On each Interest Rate Determination Date with respect to an
Interest Reset Date during the period commencing on February
22, 1995 to but excluding August 22, 1995, the Calculation
Agent shall determine whether Three Month LIBOR is greater
than or equal to 3.00% and less than or equal to 5.50%. If
Three Month LIBOR on such Interest Rate Determination Date
falls within such range, interest will accrue at the Coupon
Rate for such day. If Three Month LIBOR on such date falls
outside of such range, then no interest will accrue on such
date.
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(Floating Rate Notes)
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
(iv) On each Interest Rate Determination Date with respect to an
Interest Reset Date during the period commencing on August
22, 1995 to but excluding February 22, 1996, the Calculation
Agent shall determine whether Three Month LIBOR is greater
than or equal to 3.00% and less than or equal to 6.00%. If
Three Month LIBOR on such Interest Rate Determination Date
falls within such range, interest will accrue at the Coupon
Rate for such day. If Three Month LIBOR on such date falls
outside of such range, then no interest will accrue on such
date.
The interest rate applicable to each quarterly interest period,
commencing on the immediately preceding Interest Payment Date will
be determined by the Calculation Agent two London Business Days
prior to each Interest Payment Date (or in the case of the initial
interest period, two London Business Days before the Issue Date),
and will be equal to Three Month LIBOR (as defined below) plus .75%
per annum (the "Coupon Rate"). For each quarterly interest period,
the Calculation Agent will determine the percentage of London
Banking Days on which Three Month LIBOR was within the ranges set
forth above (the "Accrual Percentage"). The Accrual Percentage
will be determined by dividing the number of London Business Days
on which Three Month LIBOR was within the ranges set forth above
during the interest period by 360. If any day is not a London
Business Day, the accrual for that day will be the same as for the
immediately preceding London Business Day. The amount of interest
to be paid on each Interest Payment Date will be equal to the
Accrual Percentage multiplied by the Coupon Rate for the period.
In the event that any Interest Payment Date or the Maturity Date
falls on a day that is not a Business Day, interest shall be paid
on the next succeeding Business Day and interest on such payment
shall accrue for the period from and after such Interest Payment
Date to such next succeeding Business Day.
Interest on the Notes will be computed on an actual/360 day
basis.
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(Floating Rate Notes)
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
For the purposes of the Notes, the following terms shall have the
following meanings:
"Interest Rate Determination Date" means the day being two London
Business Days prior to each Interest Reset Date (as defined below).
"Interest Reset Date" means each day (from and including the
Issue Date to but excluding the Maturity Date) being a business day
in London and New York.
"Three Month LIBOR" means the rate for deposits in the London
interbank market in U.S. dollars for a three-month period
commencing on the second Business Day immediately following such
Interest Rate Determination Date that appears on Telerate Page 3750
(as defined below) as of 11:00 a.m., London time, on the applicable
Interest Rate Determination Date. If no rate appears on Telerate
Page 3750 as aforesaid, the Calculation Agent will request the
principal London offices of each of four major reference banks in
the London interbank market, as selected by the Calculation Agent,
to provide the Calculation Agent with its offered quotation for
deposits in U.S. dollars for a three-month period commencing on the
second Business Day immediately following such Interest Rate
Determination Date to prime banks in the London interbank market at
approximately 11:00 a.m., London time, on such Interest Rate
Determination Date and in a principal amount that is representative
for a single transaction in U.S. Dollars in such market at such
time. If at least two such quotations are provided, Three Month
LIBOR will be the arithmetic mean of such quotations. If fewer
than two quotations are provided, Three Month LIBOR will be the
arithmetic mean of the rates quoted at approximately 11:00 a.m., in
the City of New York, on such Interest Rate Determination Date for
loans made on the second Business Day immediately following such
Interest Rate Determination Date in U.S. dollars to leading
European banks having a maturity of three month and in a principal
amount that is representative for a single transaction in U.S.
dollars in such market at such time by three major banks in The
City of New York selected by the Calculation Agent; provided,
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(Floating Rate Notes)
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
however, that if the banks so selected by the Calculation Agent are
not quoting as mentioned in this sentence, Three Month LIBOR with
respect to such Interest Rate Determination Date will be Three
Month LIBOR as determined on the immediately preceding Interest
Rate Determination Date.
"Telerate Page 3750" means the display on the Dow Jones Telerate
Service designated as "Page 3750" (or such other page as may
replace Page 3750 on that service or such other service as may be
nominated by the British Bankers' Association as the information
vendor for the purpose of displaying British Bankers' Association
Interest Settlement Rates for U.S. dollar deposits).
"Calculation Agent" means Kidder, Peabody International Limited.
Certain Investment Considerations:
Investors should be aware that if Three Month LIBOR on any
Interest Rate Determination Date falls outside of the applicable
LIBOR range set forth under "Additional Terms -- Interest" above,
no interest will accrue for that day.
Plan of Distribution:
The Notes are being purchased by the following financial
institutions in the respective amounts set forth below pursuant to
the Amended and Restated Euro Distribution Agreement dated as of
August 31, 1993 (the "Euro Distribution Agreement"; all references
in the Prospectus Supplement to the Euro Distribution Agreement
shall be to the Euro Distribution Agreement as so amended and
restated):
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(Floating Rate Notes)
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Pricing Supplement No. 1758
Dated January 20, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
Financial Institution Amount of Notes (US$)
Kidder, Peabody International Limited 79,000,000
Banco Commerciale Italiano 3,000,000
Citibank International Plc 3,000,000
CS First Boston Limited 3,000,000
Goldman Sachs International Limited 3,000,000
Merrill Lynch International Limited 3,000,000
Swiss Bank Corporation 3,000,000
UBS Limited 3,000,000
(hereinafter referred to as the "Managers"). To the extent that
any of the Managers are not Agents under the Euro Distribution
Agreement, the Company has appointed such non-Agent Managers as
Agents thereunder for this transaction. The Company has agreed to
indemnify the Managers against and contribute toward certain
liabilities, including liabilities under the Securities Act of
1933, as amended.
The combined management and underwriting commission payable by the
Company to the Agents with respect to the respective purchases of
the Notes is 0.10% of the principal amount of the Notes. The
purchase price payable to the Company by the Agents for the Notes
will also be reduced by a selling commission of 0.10% of the
principal amount of the Notes.
In connection with this issue, Kidder, Peabody International
Limited may over-allot or effect transactions which stabilize or
maintain the market price of the Notes at a level which might not
otherwise prevail. Such stabilizing, if commenced, may be
discontinued at any time.
