PROSPECTUS Pricing Supplement No. 3023
Dated January 10, 1995 Dated August 8, 1997
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
Dated January 25, 1995 No. 33-60723
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Fixed Rate Notes)
Trade Date: August 8, 1997
Settlement Date (Original Issue Date): August 13, 1997
Maturity Date: August 13, 2012 (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): 100.00%
Agent's Discount
or Commission: 0.125%
Net Proceeds to Issuer: US$19,975,000
Interest Rate Per Annum: 7.10%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Monthly on the 13th day of each month, commencing on
September 13, 1997 (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: August 13, 1998, 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. 3023
Dated August 8, 1997
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 each 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 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 August 13, 1998 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. 3023
Dated August 8, 1997
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 June 28, 1997, the Company had outstanding indebtedness
totalling $121.845 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 28, 1997 excluding subordinated notes
payable after one year was equal to $121.148 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, Three Months Ended
1992 1993 1994 1995 1996 June 28, 1997
1.44 1.62 1.63 1.51 1.53 1.55
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, 1996, and the Company's Quarterly Reports on Form 10-Q for
the quarters ended March 29, 1997 and June 28, 1997 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. 3023
Dated August 8, 1997
Rule 424(b)(3)-Registration Statement
No. 33-60723
Plan of Distribution:
The Notes are being purchased by Goldman, Sachs & Co. (the
"Underwriter"), as principal, at the Issue Price of 100.00% of
the aggregate principal amount less an underwriting discount
equal to 0.125%.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities
Act of 1933, as amended.
