PROSPECTUS Pricing Supplement No. 3196
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$150,000,000
Price to Public (Issue Price): The Notes are being purchased
by the Underwriter at 100.00% of their
principal amount less the Underwriter's
discount 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: 0.05%
Net Proceeds to Issuer (in Specified Currency): US$150,000,000
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.
Floating Rate 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 0.20% 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 31 commencing
November 31, 1999 and ending on the
Maturity Date.
Interest Reset Periods and Dates:
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 31, 2001)
Page 2
Amended Pricing Supplement No. 3196
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 after August 31, 1999, the
interest rate per annum on the Fixed/Adjustable 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 31, commencing on November 31, 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
Pricing Supplement No. 3196
Dated August 26, 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 discount. 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.
