PROSPECTUS Pricing Supplement No. 2916
Dated January 10, 1995 Dated October 31, 1996
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
No. 33-60723
Dated January 25, 1995
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Step Down Coupon Notes)
Trade Date: October 31, 1996
Settlement Date (Original Issue Date): November 5, 1996
Maturity Date: November 7, 2011 (subject to earlier redemption, as
set forth below under "Additional Terms-Redemption")
Principal Amount (in Specified Currency): US$25,000,000
Price to Public (Issue Price): 100.00%
Agent's Discount or Commission: 0.125%
Net Proceeds to Issuer: US$24,968,750
Interest Rate Per Annum: 8.00% for the period from and including
November 5, 1996 to but excluding November 5, 1997; thereafter,
7.00% per annum for the period from and including November 5, 1997
up to but excluding the Maturity Date or date of earlier
redemption.
Interest Payment Date(s):
__ March 15 and September 15 of each year
X Other: Semi-Annually on May 5 and November 5, commencing
May 5, 1997, and ending on the Maturity Date (with respect
to the period from and including May 5, 2011 to but
excluding November 7, 2011)
Repayment, Redemption and Acceleration:
Initial Redemption Date: November 5, 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.
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(Fixed Rate Notes)
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Pricing Supplement No. 2916
Dated October 31, 1996
Rule 424(b)(3)-Registration Statement
No. 33-60723
Form of Notes:
X DTC registered __ non-DTC registered
Original Issue Discount:
Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual Date: N/A
Initial Accrual Period OID: 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.
Interest on the Notes will accrue from and including November 5,
1996 and will be payable in U.S. dollars semi-annually on May 5
and November 5 each year, commencing May 5, 1997 and on the
Maturity Date (with respect to the period from and including May
5, 2011 to but excluding November 7, 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 8.00% per annum from and including the Original
Issue Date up to but excluding November 5, 1997; thereafter, the
interest rate will be adjusted to 7.00% per annum from and
including November 5, 1997 to but excluding the Maturity Date or
date of earlier redemption.
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(Fixed Rate Notes)
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Pricing Supplement No. 2916
Dated October 31, 1996
Rule 424(b)(3)-Registration Statement
No. 33-60723
Optional Redemption.
The Company may at its option elect to redeem the Notes in whole
on November 5, 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.
Additional Information:
General.
At June 29, 1996, the Company had outstanding indebtedness
totalling $112.517 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 June 29, 1996 excluding subordinated notes
payable after one year was equal to $111.820 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, Six Months Ended
1991 1992 1993 1994 1995 June 29, 1996
1.34 1.44 1.62 1.63 1.51 1.52
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(Fixed Rate Notes)
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Pricing Supplement No. 2916
Dated October 31, 1996
Rule 424(b)(3)-Registration Statement
No. 33-60723
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 and June 29, 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 Goldman, Sachs & Co. (the
"Underwriter"), as principal, at 100% of the aggregate principal
amount, less an underwriting discount equal to 0.125% of the
principal amount of the Notes.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities
Act of 1933, as amended.
