PROSPECTUS Pricing Supplement No. 2926
Dated January 10, 1995 Dated November 21, 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 Step Up Coupon Notes)
Principal Amount: US$25,000,000
Trade Date: November 21, 1996
Settlement Date
(Original Issue Date): November 26, 1996
Maturity Date: November 28, 2011 (unless earlier redeemed as
described under "Additional Terms--Optional Redemption" below.)
Price to Public (Issue Price): 100.00%
Agent's Discount
or Commission: 0.00%
Net Proceeds to Issuer
(in Specified Currency): US$25,000,000
Interest:
Interest Rate: The Notes will pay interest at the rate of 7.00%
per annum for the period from the Original Issue Date up to but
excluding the Interest Payment Date scheduled to occur on November
26, 1997; thereafter, the interest rate on the Notes will reset
annually on each November 26 in accordance with the schedule set
forth under "Additional Terms--Interest" below.
Interest Payment Period: ___ Annual X Semi-Annual
___ Monthly ___ Quarterly
Interest Payment Dates: November 26 and May 26 of each year,
commencing May 26, 1997, and on the Maturity Date (with respect
to the period from and including May 26, 2011 to but excluding
November 28, 2011), unless earlier redeemed. See "Additional
Terms--Interest" below.
Repayment, Redemption and Acceleration:
Initial Redemption Date: November 26, 1997 (See "Additional
Terms--Redemption" below)
Initial Redemption Percentage: 100%
Optional Repayment Date: Not applicable ("N/A")
POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING
SUPPLEMENT THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS
DATED JANUARY 10, 1995 AND PROSPECTUS SUPPLEMENT DATED JANUARY 25,
1995. SEE "CERTAIN INVESTMENT CONSIDERATIONS"
HEREIN.
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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Pricing Supplement No. 2926
Dated November 21, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
Form of Notes: X DTC registered ___ non-DTC registered
The Notes will be available in denominations of $1,000 and
increments of $1,000 in excess thereof.
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
Indexed Notes:
Currency Base Rate: N/A
Additional Terms:
Interest.
Interest on the Notes will accrue from November 26, 1996 and
will be payable in U.S. dollars semi-annually on November 26 and
May 26 of each year, commencing May 26, 1997 and on the Maturity
Date (with respect to the period from and including May 26, 2011
to but excluding November 28, 2011) or date of earlier
redemption (each, an "Interest Payment Date"). Interest will
accrue from and including each Interest Payment Date to but
excluding the next succeeding Interest Payment Date. In the
event an Interest Payment Date falls on a day other than a
Business Day, interest will be paid on the next succeeding
Business Day and no interest on such payment shall accrue for
the period from and after such Interest Payment Date to such
next succeeding Business Day. The interest rate on the Notes
will be equal to 7.00% per annum from and including the Original
Issue Date up to but excluding November 26, 1997. Thereafter,
the interest rate will be subject to adjustment annually on each
November 26 in accordance with the following schedule:
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Pricing Supplement No. 2926
Dated November 21, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
Interest Period Interest Rate
November 26, 1997 to November 25, 1998 7.050% per annum
November 26, 1998 to November 25, 1999 7.100% per annum
November 26, 1999 to November 25, 2000 7.150% per annum
November 26, 2000 to November 25, 2001 7.200% per annum
November 26, 2001 to November 25, 2002 7.250% per annum
November 26, 2002 to November 25, 2003 7.300% per annum
November 26, 2003 to November 25, 2004 7.350% per annum
November 26, 2004 to November 25, 2005 7.400% per annum
November 26, 2005 to November 25, 2006 7.450% per annum
November 26, 2006 to November 25, 2007 7.500% per annum
November 26, 2007 to November 25, 2008 7.750% per annum
November 26, 2008 to November 25, 2009 8.000% per annum
November 26, 2009 to November 25, 2010 8.500% per annum
November 26, 2010 to November 27, 2011 9.000% per annum
Optional Redemption.
The Company may at its option elect to redeem the Notes in whole
on November 26, 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.
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.
Certain Investment Considerations:
Prospective purchasers of the Notes should be aware that the
Notes will pay interest at different fixed rates each year
through the Maturity Date unless earlier redeemed by the
Company. Prospective purchasers should also be aware that the
Company has the option to redeem the Notes on any Optional
Redemption Date and will be likely to elect to redeem the Notes
in the event prevailing market interest rates are lower than the
then-Current interest rate on the Notes.
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Pricing Supplement No. 2926
Dated November 21, 1996
Rule 424(b)(3)-Registration
Statement No. 33-60723
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 $114.007 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.
Plan of Distribution:
The Notes are being purchased by Smith Barney Inc. (hereinafter
referred to as the "Underwriter"), as principal, at the Issue
Price of 100% of the aggregate principal amount of the Notes.
The Company has agreed to indemnify the Underwriter against and
contribute toward certain liabilities, including liability under
the Securities Act of 1933, as amended.
