PROSPECTUS Pricing Supplement No. 3110
Dated January 10, 1995 Dated April 28, 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: April 28, 1998
Settlement Date (Original Issue Date): May 1, 1998
Maturity Date: May 3, 1999
Principal Amount (in Specified Currency): US$300,000,000
Price to Public (Issue Price): 100.00%
Agent's Discount or Commission: 0.075%
Net Proceeds to Issuer (in Specified Currency): US$299,775,000
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 2.89% Spread Multiplier: N/A
Index Maturity: N/A Index Currency: N/A
Maximum Interest Rate: N/A Minimum Interest Rate: N/A
Interest Payment Period: Quarterly
Interest Payment Dates: Every February 1, May 1, August 1
and November 1, commencing
August 1, 1998 and on the Maturity Date (with
respect to the period from and including
February 1, 1999 to but excluding May 3,
1999)
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. 3110
Dated April 28, 1998
Rule 424(b)(3)-Registration Statement No. 333-07469
Initial Interest Rate Per Annum: To be
determined two Business Days prior to
the Original Issue Date
Interest Reset Periods and Dates: Daily, on each Business Day
Interest Determination Dates: Two Business Days prior to each
Interest Reset Date
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
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
<PAGE> (Floating Rate Notes)
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Pricing Supplement No. 3110
Dated April 28, 1998
Rule 424(b)(3)-Registration Statement No. 333-07469
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 December 31, 1997, the Company had outstanding indebtedness
totalling $136.814 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 December 31, 1997 excluding subordinated notes
payable after one year was equal to $136.117 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,
1993 1994 1995 1996 1997
1.62 1.63 1.51 1.53 1.48
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, 1997, heretofore filed with the Securities and
Exchange Commission pursuant to the 1934 Act to which
reference is hereby made.
<PAGE> (Floating Rate Notes)
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Pricing Supplement No. 3110
Dated April 28, 1998
Rule 424(b)(3)-Registration Statement No. 333-07469
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 Lehman Brothers Inc. (the
"Underwriter"), as principal, at the Public Offering Price set
forth on the cover page hereof less an underwriting discount
equal to 0.075% of the prinicpal amount of the Notes.
