PROSPECTUS Pricing Supplement No. 2922
Dated January 10, 1995 Dated November 7, 1996
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration
Dated January 25, 1995 Statement No. 33-60723
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Fixed Rate Notes)
Trade Date: November 7, 1996
Settlement Date (Original Issue Date): November 13, 1996
Maturity Date: November 14, 2011 (subject to earlier redemption,
as set forth under "Additional Terms-Redemption")
Principal Amount (in Specified Currency): US$20,000,000
Price to Public (Issue Price): The Notes are being purchased by
the Underwriter at 100.00% of their principal amount and will be
sold at varying prices to be determined at the time of sale.
For further information with respect to any discounts,
commissions or profits on resales of Notes that may be deemed
underwriting discounts or commissions, see "Plan of
Distribution" below.
Agent's Discount or Commission: The Notes will be sold at varying
prices to be determined by the Underwriter at the time of each
sale.
Net Proceeds to Issuer: US$20,000,000
Interest Rate Per Annum: 7.15%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Monthly on the 14th day of each month, commencing on
December 14, 1996 (with respect to the period from and
including November 13, 1996 to but excluding December 14,
1996) and on the Maturity Date (each period from and
including an Interest Payment Date or the Original Issue
Date, as the case may be, to but excluding the next
succeeding Interest Payment Date is referred to herein as
an "Interest Period")
Form of Notes:
X DTC registered ___ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: November 14, 1997, and thereafter on any
Interest Payment Date (See "Additional Terms--Redemption"
below)
Initial Redemption Percentage: 100%
Optional Repayment Date: Not applicable ("N/A")
Annual Redemption Percentage Reduction: N/A
Modified Payment Upon Acceleration: 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.
<PAGE>
(Fixed Rate Notes)
Page 2
Pricing Supplement No. 2922
Dated November 7, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
Original Issue Discount:
Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual Date: N/A
Initial Accrual Period OID: N/A
Amortizing Notes:
Amortization Schedule: N/A
Dual Currency Notes:
Face Amount Currency: N/A
Optional Payment Currency: N/A
Designated Exchange Rate: N/A
Option Value Calculation Agent: N/A
Option Election Date(s): N/A
Indexed Notes:
Currency Base Rate: N/A
Determination Agent: N/A
Additional Terms:
Interest.
Accrued interest on the Notes for the Interest Period commencing
on the Original Issue Date (the "Initial Interest Period") shall
be calculated as described in the Prospectus Supplement under
the caption "Interest and Interest Rates-Fixed Rate Notes."
Accrued interest on the Notes for each subsequent Interest
Period shall be calculated and paid based on the number of days
in such Period divided by 360 (the number of days in such Period
to be calculated on the basis of a year of 360 days consisting
of twelve 30-day months). As a result, the amount payable on
each Interest Payment Date (other than the Interest Payment Date
relating to the Initial Interest Period) will remain constant
irrespective of the actual number of days that have elapsed
since the preceding Interest Payment Date.
Optional Redemption.
The Company may at its option elect to redeem the Notes in whole
on November 14, 1997 or on any Interest Payment Date thereafter
(each such date, an "Optional Redemption Date") at 100% of their
principal amount plus accrued interest to but excluding the date
of redemption (the "Redemption Date"). In the event the Company
elects to redeem the Notes, notice will be given to registered
holders not more than 60 nor less than 30 days prior to the
Redemption Date.
<PAGE>
(Fixed Rate Notes)
Page 3
Pricing Supplement No. 2922
Dated November 7, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
Certain Covenants of the Company.
As of August 1, 1996, the Company entered into a supplemental
indenture with The Chase Manhattan Bank, as trustee, eliminating
the covenants of the Company described in the Prospectus under
the caption "Certain Covenants of the Company". Consequently,
the information under such caption is not applicable to the
Notes.
Additional Information:
General.
At September 28, 1996, the Company had outstanding indebtedness
totalling $114.704 billion, consisting of notes payable within
one year, senior notes payable after one year and subordinated
notes payable after one year. The total amount of outstanding
indebtedness at September 28, 1996 excluding subordinated notes
payable after one year was equal to $104.007 billion.
Consolidated Ratio of Earning to Fixed Charges.
The information contained in the Prospectus under the caption
"Consolidated Ratio of Earnings to Fixed Charges" is hereby
amended in its entirety, as follows:
Year Ended December 31, Nine Months Ended
1991 1992 1993 1994 1995 September 28, 1996
1.34 1.44 1.62 1.63 1.51 1.56
For purposes of computing the consolidated ratio of
earnings to fixed charges, earnings consist of net earnings
adjusted for the provision for income taxes, minority interest
and fixed charges. Fixed charges consist of interest and
discount on all indebtedness and one-third of rentals, which the
Company believes is a reasonable approximation of the interest
factor of such rentals.
Documents Incorporated by Reference.
The information contained in the Prospectus in the first
paragraph of text under the caption "Documents Incorporated by
Reference" is hereby amended in its entirety, as follows: There
is hereby incorporated in the Prospectus by reference the
Company's Annual Report on Form 10-K for the year ended December
31, 1995, the Company's Quarterly Reports on Form 10-Q for the
quarters ended March 31, 1996, June 29, 1996 and September 28,
1996 and the Company's Form 8-K dated June 28, 1996 heretofore
filed with the Securities and Exchange Commission pursuant to
the 1934 Act, to which reference is hereby made.
<PAGE>
(Fixed Rate Notes)
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Pricing Supplement No. 2922
Dated November 7, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
Plan of Distribution:
The Notes are being purchased by Bear, Stearns & Co. Inc. (the
"Underwriter"), as principal, at the Issue Price of 100.00% of
the aggregate principal amount. The Underwriter has advised the
Company that the Underwriter proposes to offer the Notes from
time to time for sale in negotiated transactions or otherwise,
at prices determined at the time of sale.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities
Act of 1933, as amended.
