PROSPECTUS Pricing Supplement No. 3146
Dated January 10, 1995 Dated June 3, 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: June 3, 1998
Settlement Date (Original Issue Date): June 8, 1998
Maturity Date: June 8, 1999
Principal Amount (in Specified Currency): US$300,000,000
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$300,000,000
Interest Rate:
Interest Calculation:
XX 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)
XX LIBOR __ Prime Rate __ Treasury Rate
__ Other (See "Additional Terms - Interest" below)
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.
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Pricing Supplement No. 3146
Dated June 3, 1998
Rule 424(b)(3)-Registration Statement
No. 333-07469
Spread (Plus or Minus): minus 0.125% Spread Multiplier: N/A
Index Maturity: 3 Months Index Currency: US Dollar
Maximum Interest Rate: N/A Minimum Interest Rate: N/A
Interest Payment Period: Quarterly
Interest Payment Dates: Every
December 8, March 8, June 8 and
September 8, commencing on September
8, 1998.
Initial Interest Rate
Per Annum: To be determined two
London Banking Days prior to the
Original Issue Date. "London Banking
Day" means any day on which
commercial banks are open for
business (including dealings in
foreign exchange and foreign currency
deposits) in London, England.
Interest Reset Periods
and Dates: Quarterly on each Interest Payment Date
Interest Determination Dates: Two London Banking Days prior
to each Interest Reset Date
Form of Notes:
XX 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
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Pricing Supplement No. 3146
Dated June 3, 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.
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Pricing Supplement No. 3146
Dated June 3, 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.
Plan of Distribution:
The Notes are being purchased by Merrill Lynch, Pierce, Fenner
& Smith Incorporated (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
