PROSPECTUS Pricing Supplement No. 3420
Dated April 28, 1999 Dated August 5, 1999
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
Dated May 3, 1999 No's 333-59707 and 333-76479
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Floating/Fixed Rate Notes)
Trade Date: August 5, 1999
Settlement Date (Original Issue Date): August 20, 1999
Maturity Date: August 20, 2007
Principal Amount (in Specified Currency): USD25,000,000
Price to Public (Issue Price): 100%
Agent's Discount or Commission: 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.
Net Proceeds to Issuer (in Specified Currency): USD25,000,000
Interest Rate:
Interest Calculation:
X 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)
X LIBOR _ Prime Rate _ Treasury Rate
_ Other (See "Additional Terms - Interest" below)
Spread (Plus or Minus): plus 85 basis points
Spread Multiplier: N/A
Index Maturity: 3 Months
Index Currency: U.S. Dollar
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Interest Payment Period: Quarterly
Interest Payment Dates: Quarterly until August 20, 2001,
commencing on November 20, 1999.
Annually thereafter with the first
annual coupon payment on August 20, 2002
and the last annual coupon payment on
August 20, 2007. See "Additional Terms
- Interest Rate" 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.
<PAGE> (Redeemable Floating/Fixed Rate Notes)
Page 2
Pricing Supplement No. 3420
Dated August 5, 1999
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
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: August 20, 2001 (See "Additional
Terms - Redemption" below)
Initial Redemption Percentage: 100%
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
<PAGE> (Redeemable Floating/Fixed Rate Notes)
Page 3
Pricing Supplement No. 3420
Dated August 5, 1999
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
Additional Terms:
The Calculation Agent for the Notes will be Deutsche Bank AG.
Interest:
Interest on the Notes will be paid quarterly until August 20,
2001, commencing on November 20, 1999, at a coupon rate equal to
the United States Dollar three month LIBOR rate plus eighty-five
basis points. Thereafter, interest on the Notes will be paid
annually at a fixed rate of seven per cent, commencing on August
20, 2002 and ending on the Maturity Date.
Optional Redemption:
The Company may at its option elect to redeem the Notes in whole
on August 20, 2001 at 100% of their principal amount (the
"Redemption Date"). In the event that the Company elects to
redeem the Notes, notice will be given to registered holders at
least 30 days prior to the Redemption Date.
General.
At March 27, 1999 the Company had outstanding indebtedness
totalling $167.367 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 27, 1999
excluding subordinated notes payable after
one year was equal to $166.670 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
1994 1995 1996 1997 1998 March 27, 1999
1.63 1.51 1.53 1.48 1.50 1.53
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.
Plan of Distribution:
Deutsche Bank Securities Inc. is the agent in connection with the
distribution of the Notes. The Notes are being purchased by the
Agent at 100.00% of their principal amount and will be sold at
varying prices to be determined at the time of sale.
