PROSPECTUS Amended Pricing Supplement No. 3198
Dated January 10, 1995 Dated August 26, 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
(Fixed/Adjustable Rate Notes due August 31, 2001)
Trade Date: August 26, 1998
Settlement Date (Original Issue Date): August 31, 1998
Maturity Date: August 31, 2001
Principal Amount (in Specified Currency): US$25,000,000
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: 0.20%
Net Proceeds to Issuer (in Specified Currency): US$24,950,000
Interest Rate:
Initial Interest Rate Per Annum: Interest on the
Fixed/Adjustable Rate Notes will be payable on August 31,
1999 at the rate of 5.70% per annum on an actual/360 basis and
thereafter at the Floating Rate described below.
Interest Calculation:
X Regular Floating Rate
_ Inverse Floating Rate
_ Other Floating Rate
Interest Rate Basis: 5.70% until August 31, 1999, then __ 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 0.200% 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: August 31, 1999 (with
respect to the period from and including
August 31, 1998 to but excluding August 31,
1999), and thereafter, each February 28, May
31, August 31, and November 30, commencing
November 30, 1999 and ending on the Maturity
Date.
Interest Reset Periods and Date
Commencing August 31, 1999, 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.
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/Adjustable Rate Notes Due August 21, 2001)
Page 2
Amended Pricing Supplement No. 3198
Dated August 26, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
Interest Determination Dates: Commencing August 31, 1999, one
Business Day 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
Additional Terms:
Interest.
Interest on the Fixed/Adjustable Rate Notes will be payable on
August 31, 1999 at the rate of 5.70% per annum on an actual/360
basis (with respect to the period from and including August
31, 1998 to but excluding August 31, 1999).
For subsequent periods commencing August 31, 1999, the
interest rate per annum on the Fixed/Adjustable Floating Rate
Notes for each interest period will be equal to the Federal
Funds Rate plus 0.20% basis points. 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 28, May 31, August 31 and November 30, commencing on
November 30, 1999, 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> (Fixed/Adjustable Rate Notes Due August 31, 2001)
Page 3
Amended Pricing Supplement No. 3198
Dated August 26, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
The Calculation Agent for the Notes will be J. P. Morgan
Securities Inc.
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:
J. P. Morgan Securities Inc. is acting as agent in connection
with the distribution of the Notes. The Agent will receive a
selling commission equal to 0.200% of the principal amount of
the Notes.
