PROSPECTUS Pricing Supplement No. 1790
Dated July 12, 1993 Dated February 9, 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 X B __ C __ Trade Date: February 9, 1994
Principal Amount (in Specified Currency): US$45,000,000
Settlement Date (Original Issue Date): February 24, 1994
If Specified Currency is other than U.S. dollars,
equivalent amount in U.S. dollars: N/A
Maturity Date: February 24, 1995
Agent's Discount or Commission: 0.00%
Price to Public (Issue Price): 100.00%
Net Proceeds to Issuer (in Specified Currency): US$45,000,000
Interest Rate:
Interest Calculation:
__ Regular Floating Rate
__ Inverse Floating Rate
(Fixed Interest Rate):
X Other Floating Rate: Three Month LIBOR (as defined herein)
plus 0.300% or 0.000% to be 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
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
Index Maturity: N/A
Index Currency: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: 0%
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: May 24, 1994, August 24, 1994,
November 24, 1994 and February 24, 1995.
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:
The Notes will be issued in the form of a temporary global notes
which will be deposited with or on behalf of the Depository Trust
Company. The Notes will be available in book-entry form in minimum
denominations of $100,000 and integral multiples of $1,000 in
excess thereof.
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
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
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
Rule 424(b)(3)-Registration Statement
No. 33-58508
Additional Terms:
Interest.
Interest on the Notes is payable quarterly on May 24, 1994,
August 24, 1994, November 24, 1994 and February 24, 1995 (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:
(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 May 24, 1994, the Calculation Agent shall
determine whether Three Month LIBOR (as defined below) is
less than or equal to 4.2500%. 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 May 24,
1994 to but excluding August 24, 1994, the Calculation
Agent shall determine whether Three Month LIBOR is less
than or equal to 4.5000%. 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. 1790
Dated February 9, 1994
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No. 33-58508
(iii) On each Interest Rate Determination Date with respect to an
Interest Reset Date during the period commencing on August
24, 1994 to but excluding November 24, 1994, the
Calculation Agent shall determine whether Three Month LIBOR
is less than or equal to 4.7500%. 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.
(iv) On each Interest Rate Determination Date with respect to an
Interest Reset Date during the period commencing on
November 24, 1994 to but excluding February 24, 1995, the
Calculation Agent shall determine whether Three Month LIBOR
is less than or equal to 5.0000%. 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
.300% 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 calendar
days on which Three Month LIBOR was within the ranges set forth
above during the interest period by the total number of calendar
days in such interest period. 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.
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
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No. 33-58506
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No. 33-58508
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.
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
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
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No. 33-58508
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,
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 CS First Boston Corporation.
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.
Certain U.S. Federal Income Tax Considerations:
The following United States federal income tax discussion
supplements the discussion under "United States Tax Considerations"
in the Prospectus and Prospectus Supplement dated July 12, 1993.
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
Rule 424(b)(3)-Registration Statement
No. 33-58506
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No. 33-58508
The Notes have a maturity of one year or less and thus will be
treated as short-term notes ("Short-Term Notes") for federal income
tax purposes. Generally, an accrual basis taxpayer, and certain
other holders, are required to accrue interest earned on the Notes
as described under "United States Tax Considerations-Short-Term
Notes" in the Prospectus Supplement. Generally, a cash basis
taxpayer will be required to include in gross income the interest
payments made on each Interest Payment Date subject to certain
elections discussed under "United States Tax Considerations-Short-
Term Notes" in the Prospectus Supplement. It is possible, however,
that interest on the Notes will be treated as contingent interest
under proposed Treasury regulations issued under the original issue
discount provisions of the Internal Revenue Code of 1986 (the
"Proposed Contingent Payment Regulations"). The Proposed
Contingent Payment Regulations would require both a cash and
accrual basis taxpayer to include in gross income interest on the
Notes as the right to receive such interest becomes fixed
regardless of when such interest is paid. As a result, the
Contingent Payment Regulations may require a cash basis taxpayer to
include interest in gross income prior to its payment and may cause
an accrual basis taxpayer to include interest in gross income under
a method different from that had the Proposed Contingent Payment
Regulations not applied.
The Proposed Contingent Payment Regulations contain a retroactive
effective date prior to the issue date of the Notes. There is no
assurance that the Proposed Contingent Payment Regulations will be
adopted, or if adopted, adopted in their current form. In addition,
on January 19, 1993, the Treasury Department issued proposed
regulations (the "1993 Proposed Regulations"), concerning
contingent payment obligations, which would have replaced the
Proposed Contingent Payment Regulations. However, on January 22,
1993, the United States Government's Office of Management and
Budget announced that certain proposed regulations which had not
yet been published in the Federal Register, including the 1993
Proposed Regulations, had been withdrawn. It is unclear whether
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(Floating Rate Notes)
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Pricing Supplement No. 1790
Dated February 9, 1994
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No. 33-58508
the 1993 Proposed Regulations will be re-proposed or, if re-
proposed, what effect if any, such regulations would have on the
Notes. There can be no assurance that the ultimate tax treatment
of the Notes would not differ significantly from the description
herein. Prospective investors in the Notes are urged to consult
their own tax advisors regarding the application of the proposed
regulations, if any, and the effect of possible changes to the
proposed regulations.
Plan of Distribution:
CS First Boston Corporation is acting as Agent in connection with
the distribution of the Notes.
