PROSPECTUS Pricing Supplement No. 3181
Dated January 10, 1995 Dated August 18, 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: August 18, 1998
Settlement Date (Original Issue Date): August 21, 1998
Maturity Date: August 21, 2000
Principal Amount (in Specified Currency): US$200,000,000
Price to Public (Issue Price): The Notes are being
purchased by the Underwriter at 100.00% of
their principal amount less the Underwriter's
Commission 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: 0.1750%
Net Proceeds to Issuer (in Specified Currency): US$199,650,000
Interest Rate:
Interest Calculation:
X Regular Floating Rate
_ Inverse Floating Rate
_ Other Floating Rate
Interest Rate Basis: _ CD Rate _ Commercial Paper Rate X
Federal Funds Rate (See "Additional Terms--Interest" below) _
LIBOR _ Prime Rate _ Treasury Rate _ Other (See
"Additional Terms--Interest" below).
Spread (Plus or Minus): plus 0.100% 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: Each February
21, May 21, August 21 and November 21
commencing November 21, 1998 (with
respect to the period from and including
August 21, 1998 to but excluding
November 21, 1998), and ending on the
Maturity Date.
Initial Interest Rate Per Annum: To
be determined one Business Day prior to
the Original Issue Date.
Interest Reset Periods and Dates:
Daily, on each Business Day, except
that the interest rate in effect for
the two Business Days preceding each
Interest Payment Date will be the
interest rate in effect on the second
Business Day preceding such Interest
Payment Date.
Interest Determination Dates: One
Business Day prior to each Interest
Reset Date.
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)
Page 2
Amended Pricing Supplement No. 3181
Dated August 18, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
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
Additional Terms:
Interest.
The interest rate applicable to each daily Interest Reset
Period will equal the Federal Funds Rate (as defined in the
Prospectus Supplement) plus the Spread set forth on the cover
page of this Pricing Supplement. Interest will be payable
quarterly on each February 21, May 21, August 21 and November
21, commencing on November 21, 1998 (with respect to the
period from and including August 21, 1998 to but excluding
November 21, 1998), and on the Maturity Date (each, an
"Interest Payment Date"). Interest will reset daily on each
Business Day (the "Interest Reset Date") from the Original
Issue Date up to but excluding the Maturity Date, except that
the interest rate in effect for the two Business Days
preceding each Interest Payment Date will be the interest rate
in effect on the second Business Day preceding such Interest
Payment Date. The Interest Determination Date with respect to
an Interest Reset Date will be one Business Day prior to such
Interest Reset Date. Interest payments on the Notes will equal
the amount of interest accrued from and including the next
preceding Interest Payment Date in respect of which interest
has been paid (or from and including the Original Issue Date,
if no interest has been paid with respect to the Notes) to but
excluding the related Interest Payment Date.
<PAGE> (Floating Rate Notes)
Page 3
Pricing Supplement No. 3181
Dated August 18, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
General
At June 27, 1998, the Company had outstanding indebtedness
totalling $144.969 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 27, 1998 excluding subordinated notes
payable after one year was equal to $144.272 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
1993 1994 1995 1996 1997 June 27,1998
1.62 1.63 1.51 1.53 1.48 1.50
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 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 Reports on Form
10-Q for the quarters ended March 28, 1998 and June 27, 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.
Plan of Distribution:
The Notes are being purchased by Merrill Lynch, Pierce, Fenner
and Smith Incorporated (the "Underwriter"), as principal, at
the Issue Price of 100.00% of the aggregate principal amount
less the Underwriter's Commission. 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.
