PROSPECTUS Pricing Supplement No. 3061
Dated January 10, 1995 Dated January 26, 1998
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
(Fixed Rate Notes)
Trade Date: January 26, 1998
Settlement Date (Original Issue Date): January 29, 1998
Maturity Date: February 1, 2013
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: 6.50%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Monthly on the 1st of each month,
commencing on March 1, 1998 (with respect to the
period from and including January 29, 1998 to but
excluding March 1, 1998) (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:February 1, 1999, 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 2> (Fixed Rate Notes)
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Pricing Supplement No. 3061
Dated January 26, 1998
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 the Interest Period
commencing on the Original Issue Date (the "Initial Interest
Period") shall be calculated as described in the Prospectus
Supplement under the caption "Interest and Interest Rates-
Fixed Rate Notes." 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 (other than
the Interest Payment Date relating to the Initial Interest
Period) will remain constant irrespective of the actual number
of days that have elapsed since the preceding Interest Payment
Date.
<PAGE 3> (Fixed Rate Notes)
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Pricing Supplement No. 3061
Dated January 26, 1998
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 February 1, 1999 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 (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 September 27, 1997, the Company had outstanding
indebtedness totaling $124.611 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 September 27, 1997
excluding subordinated notes payable after one year was equal
to $123.914 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:
<PAGE 4> (Fixed Rate Notes)
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Pricing Supplement No. 3061
Dated January 26, 1998
Rule 424(b)(3)-Registration Statement
No. 33-60723
Year Ended December 31, Nine Months Ended
1992 1993 1994 1995 1996 September 27, 1997
1.44 1.62 1.63 1.51 1.53 1.49
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, 1996, and the Company's Quarterly Reports on Form
10-Q for the quarters ended March 29, 1997, June 28, 1997 and
September 27, 1997, 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 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% of the aggregate 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.
