PROSPECTUS Amended Pricing Supplement No. 1735
Dated July 12, 1993 Dated January 5, 1994
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
Dated July 12, 1993 No. 33-58506
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES
(Fixed/Floating Rate Notes)
Series: A __ B X C __ Trade Date: December 21, 1993
Principal Amount (in Specified Currency): GBP19,900,000
Settlement Date (Original Issue Date): January 19, 1994
If Specified Currency is other than U.S. dollars,
equivalent amount in U.S. dollars: US$29,683,500
Maturity Date: January 19, 1999
Agent's Discount or Commission: 0.00%
Price to Public (Issue Price): 100%
Net Proceeds to Issuer (in Specified Currency): 100%
Interest Rate:
Interest Calculation:
__ Regular Floating Rate
__ Inverse Floating Rate
__ Other Floating Rate
X Fixed/Floating Rate: The interest rate on the Notes will be
fixed at 6.00% per annum for the period beginning on
January 19, 1994 up to but excluding the Interest Payment
Date occurring on January 19, 1995. Thereafter, the
interest rate will be fixed for the remaining term of the
Notes to Maturity based upon the formula set forth below
under "Additional Terms--Interest".
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
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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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Index Maturity: (see "Additional Terms")
Index Currency: (see "Additional Terms")
Maximum Interest Rate: N/A
Minimum Interest Rate: 0.00% per annum
Alternate Rate Event Spread: N/A
Initial Interest Rate Per Annum: 6.00%
Interest Payment Period:
X Annual __ Semi-Annual __ Monthly __ Quarterly
Interest Payment Dates if other than as set forth in the
Prospectus Supplement: January 19 of each year, commencing
on January 19, 1995
Interest Reset Periods and Dates: The interest rate on the Notes
will reset one time during the life of the Notes on January
19, 1995 as described under "Additional Terms--Interest"
below. Thereafter the interest rate shall remain fixed for
the remaining term of the Notes.
Interest Determination Dates if other than as set forth in the
Prospectus Supplement: Two Business Days prior to the Interest
Reset Date.
Form and Denomination:
The Notes will be issued in bearer form and will be represented
by a temporary global note. The temporary global note will be
exchangeable for a permanent global note 40 days after the
Settlement Date. Notes will be available in minimum denominations
of GBP100,000.
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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
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
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
All payments of interest and principal will be made by the
Company in sterling.
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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Interest will be payable in arrears on January 19 of each year
(each, an "Interest Payment Date"), commencing January 19, 1995,
and on the Maturity Date. The "Interest Period" with respect to a
Note is each successive period from and including an Interest
Payment Date with respect to such Note (or January 19, 1994 in the
case of the first Interest Period) to but excluding the next
Interest Payment Date or the Maturity Date. The "Interest
Determination Date" is two Business Days (as defined below)
preceding January 19, 1995. Interest will be calculated on the
basis of a 360 day year, consisting of twelve 30 day months. In the
event any Interest Payment Date or the Maturity Date falls on a day
other than a Business Day, no interest will accrue from such
Interest Payment Date or the Maturity Date, as the case may be.
The interest rate shall be 6.00% per annum for the Interest
Period from and including January 19, 1994 to but excluding the
Interest Payment Date occurring on January 19, 1995. Thereafter,
the interest rate for the remaining terms of the Notes will be
fixed at the annualized equivalent of the per annum rate calculated
by the Calculation Agent (as defined below) on the Interest
Determination Date in accordance with the following formula:
29.25% - (4 * 5YRSR).
In no event shall the interest rate be less than 0.00% per annum
for any Interest Period.
For the purposes of these Notes, the following terms shall have
the following meanings:
"5YRSR" means the 5 Year Sterling Swap Rate, being the offered
five year Sterling fixed swap rate versus 6-month LIBOR, quoted on
a semi-annual actual/365 day basis (expressed as a percentage on an
annual 30/360 day basis), which appears on Telerate Page 42279 as
of 11:00 a.m., London time, on the applicable Interest
Determination Date; provided that, if on the Interest Determination
Date the 5 Year Sterling Swap Rate does not appear on the Telerate
Page 42279 as aforesaid, the Calculation Agent will request each of
five Reference Dealers (as defined below) to provide the
Calculation Agent with its offer quotation
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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
for such rate as of 11:00 a.m., London time, on the Interest
Determination Date. The rate to be used in place of such 5 Year
Sterling Swap Rate by the Calculation Agent shall be the arithmetic
mean of the offered quotations provided by the Reference Dealers in
respect of such rate, provided at least two such Reference Dealers
provide quotations in respect thereof. In the event that the 5
Year Sterling Swap Rate does not appear on Telerate Page 42279 and
less than two of the Reference Dealers are able to provide an offer
quotation for any such rate, then the rate shall be the last
available rate appearing on the Telerate Page 42279.
"Business Day" means any day other than a Saturday or Sunday or
any other day on which banking institutions are generally
authorized or obligated by law or regulation to close in New York,
New York or London, England.
"Reference Dealer" means any major bank or banking corporation
selected in good faith by the Calculation Agent which will provide
offered quotations on 5 Year Sterling Swap Rate.
"Telerate Page 42279" means the display designated as "Page
42279" on the Dow Jones Telerate Service (or such other page as may
replace such page on that service or such other service as may be
nominated by the International Financing Review for the purpose of
displaying Sterling floating swap rates).
References herein to "GBP" or "sterling" are to the currency of
the United Kingdom. References herein to "US$" or "dollars" are to
the currency of the United States of America.
"Calculation Agent" means Morgan Stanley Capital Services Inc.
Interest on the Notes will be calculated on a 30/360 day basis.
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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Historical Rate Information
The following table sets forth certain historical information
concerning the 5 Year Sterling Swap Rate for the last Business Day
of the months indicated below, together with a computation of the
interest rate that would have applied to the Notes had the Notes
reset on such date (the "Formula Rate").
Date 5YR Sterling Swap Rate Formula Rate
(expressed as a percentage)
Jan. 1990 12.940 0.000
Apr. 1990 14.160 0.000
July 1990 12.530 0.000
Oct. 1990 11.970 0.000
Jan. 1991 11.370 0.000
Apr. 1991 10.980 0.000
July 1991 10.730 0.000
Oct. 1991 10.180 0.000
Jan. 1992 9.870 0.000
Apr. 1992 9.640 0.000
July 1992 9.740 0.000
Oct. 1992 7.480 0.000
Jan. 1993 7.250 0.250
Apr. 1993 7.810 0.000
July 1993 6.900 1.650
Oct. 1993 6.520 3.170
Dec. 1993 5.860 5.810
Fluctuations in the 5 Year Sterling Swap Rate and the Formula
Rate that have occurred in the past are not necessarily indicative
of fluctuations that may occur in the future, which fluctuation may
be wider or more confined than those that have occurred
historically.
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(Fixed/Floating Rate Notes)
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Amended Pricing Supplement No. 1735
Dated January 5, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Certain Investment Considerations
Investors should be aware that the Notes are inverse floating
rate notes. If the 5 Year Sterling Swap Rate increases from one
Interest Period to another, the interest rate on the Notes will
decrease for the corresponding Interest Period, including the
possibility that no interest will be payable for the Interest
Period. In addition, investors should be aware that the formula
used to compute interest on the Notes contains a leverage factor
which magnifies the effect of changes in the 5 Year Sterling Swap
Rate.
Investors should be aware that the amount of interest payable in
respect of each Interest Period will be affected by the level of
interest rates in Great Britain and the United States of America.
Consequently, the related interest payments on the Notes might be
subject to significant fluctuation related to, among other factors,
political and economic factors affecting Great Britain and the
United States, over which the Company has no control.
Plan of Distribution
Morgan Stanley International will act as Agent in connection with
the sale of the Notes.
