PROSPECTUS Pricing Supplement No. 3072
Dated January 10, 1995 Dated February 17, 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
(Redeemable Step Down Notes)
Trade Date: February 17, 1998
Settlement Date February 20, 1998
(Original Issue Date)
Maturity Date: February 20, 2013 (subject to
earlier redemption, as set forth under
"Additional Terms-Redemption")
Principal Amount US$20,000,000
(in Specified Currency)
Price to Public The Notes are being purchased by the
(Issue Price) 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 The Notes will be sold at varying prices
Commission to be determined by the Underwriter at
the time of each sale.
Net Proceeds to Issuer: US$20,000,000
Interest Rate Per Annum: 7.00% for the period from and including
February 20, 1998 to but excluding
February 20, 1999; thereafter, 6.00% per
annum for the period from and including
February 20, 1999 up to but excluding
the Maturity Date or earlier redemption.
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Monthly on the 20th day of each month,
commencing on March 20, 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")
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.
(Fixed Rate Notes)
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Pricing Supplement No. 3072
Dated February 17, 1998
Rule 424(b)(3)-Registration Statement
No. 33-60723
Form of Notes:
X DTC registered ____ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: February 20, 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
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 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 will remain constant irrespective
of the actual number of days that have elapsed since the
preceding Interest Payment Date. The interest rate on the
Notes will be equal to 7.00% per annum from and including the
Original Issue Date up to but excluding February 20, 1999;
thereafter, the interest rate will be adjusted to 6.00% per
annum from and including February 20, 1999 to but excluding
the Maturity Date or earlier redemption.
(Fixed Rate Notes)
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Pricing Supplement No. 3072
Dated February 17, 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 20, 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 totalling $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:
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.
(Fixed Rate Notes)
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Pricing Supplement No. 3072
Dated February 17, 1998
Rule 424(b)(3)-Registration Statement
No. 33-60723
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 Bear, Stearns & Co. Inc. (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 determined at the time of sale.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the
Securities Act of 1933, as amended.
