PROSPECTUS Pricing Supplement No. 3141
Dated January 10, 1995 Dated May 29, 1998
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
No. 333-07469
Dated January 25, 1995
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Floating Rate Notes)
Trade Date: May 29, 1998
Settlement Date (Original Issue Date): June 3, 1998
Maturity Date: June 3, 1999
Principal Amount (in Specified Currency): US$330,000,000
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 any Notes sold with
more than a de minimis amount of
original issue discount, see "United
States Tax Considerations" in the
accompanying Prospectus Supplement. 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 (in Specified Currency): US$330,000,000
Interest Rate:
Interest Calculation:
X Regular Floating Rate
_ Inverse Floating Rate
_ Other Floating Rate
Interest Rate Basis: _ CD Rate _ Commercial Paper Rate
_ Federal Funds Rate (See "Additional Terms - Interest" below)
_ LIBOR X Prime Rate _ Treasury Rate
_ Other (See "Additional Terms - Interest" below)
Spread (Plus or Minus): minus 2.93% Spread Multiplier: N/A
Index Maturity: N/A Index Currency: 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> (Floating Rate Notes)
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Pricing Supplement No. 3141
Dated May 29, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
Maximum Interest Rate: N/A Minimum Interest Rate: N/A
Interest Payment Period: Quarterly
Interest Payment Dates: Every
December 3, March 3, June 3 and
September 3, commencing September 3,
1998 and on the Maturity Date (with
respect to the period from and including
March 3, 1999 to but excluding June 3,
1999)
Initial Interest Rate Per Annum: To be
determined on the Original Issue Date
Interest Reset Periods and Dates: Daily, on each Business
Day until the second Business Day
preceding any Interest Payment Date
Interest Determination Dates: Each
Business Day except that the daily
interest rate for each day in the period
commencing two Business Days prior to
any Interest Payment Date will equal the
average of the Prime Rate as calculated
for each day before such period
Form of Notes:
X DTC registered _ non-DTC registered
Repayment, Redemption and Acceleration:
Optional Repayment Date: N/A
Annual redemption Percentage Reduction: N/A
Initial Redemption Date: 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
<PAGE> (Floating Rate Notes)
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Pricing Supplement No. 3141
Dated May 29, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
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:
Certain Covenants of the Company.
As of August 1, 1996, the Company entered into a supplemental
indenture with The Chase Manhattan Bank, as trustee (the
"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. As of
February 27, 1997, the Company entered into a Third Amended
and Restated Indenture with the Trustee. References in the
accompanying Prospectus Supplement and Prospectus to
"Indenture" shall be amended to refer to such Third Amended
and Restated Indenture
Additional Information:
General.
At March 28, 1998, the Company had outstanding indebtedness
totalling $138.313 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 March 28, 1998 excluding subordinated notes
payable after one year was equal to $137.616 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
1993 1994 1995 1996 1997 March 28,1998
1.62 1.63 1.51 1.53 1.48 1.54
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.
<PAGE> (Floating Rate Notes)
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Pricing Supplement No. 3141
Dated May 29, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
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 are hereby incorporated in the Prospectus by reference
the Company's Annual Report on Form 10-K for the year ended
December 31, 1997, and the Company's Quarterly Report on Form
10-Q for the quarter ended March 28, 1998, heretofore filed
with the Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934, as amended, to which
reference is hereby made.
Prime Rate:
"Prime Rate" means, with respect to any Interest Determination
Date, the rate as published by the Board of Governors of the
Federal Reserve System in "Statistical Release H.15(519),
Selected Interest Rates", or any successor publication
("H.15(519))" set forth in the H.15(519) for that day under
the heading "Bank Prime Loan". If prior to 3:00 P.M., New
York City time, on the Calculation Date pertaining to such
Interest Determination Date such rate is not yet published in
the H.15(519), the rate for that Interest Determination Date
will be the arithmetic mean of the rates of interest publicly
announced by each bank that appears on the Reuters Screen US
Prime 1 Page (as defined below) as such bank's prime rate or
base lending rate as in effect for that Interest Determination
Date. If fewer than four such rates appear on the Reuters
Screen US Prime 1 Page for that Interest Determination Date,
the Prime Rate will be the arithmetic mean of the prime rates
or base lending rates quoted on the basis of the actual number
of days in the year divided by a 360 day year as of the close
of business on such Interest Determination Date by three major
money center banks in New York City selected by the
Calculation Agent and shall be determined as the arithmetic
mean of the prime rates so quoted; provided, however, that if
fewer than three banks selected as aforesaid by the
Calculation Agent are quoting as mentioned in this sentence,
the Prime Rate will continue to be the Prime Rate in effect on
such Interest Determination Date. "Reuters Screen US Prime 1
Page" means the display page designated as "US Prime 1" on the
Reuters Monitor Money Rates Service (or such other page as may
replace the US Prime 1 Page on that service for the purpose of
displaying prime rates or base lending rates of major United
States banks).
Plan of Distribution:
The Notes are being purchased by Chase Securities 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 to be determined at the time of sale. In
the ordinary course of their respective businesses, the
Underwriter and its affiliates have engaged and may in the
future engage, in commercial banking and investment banking
transactions with the Company and affiliates of the Company.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the
Securities Act of 1933, as amended.
