PROSPECTUS Pricing Supplement No. 3307
Dated January 10, 1995 Dated February 3, 1999
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
Dated January 25, 1995 No. 333-59707
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Step Up Coupon Notes)
Trade Date: February 3, 1999
Settlement Date (Original Issue Date): February 8, 1999
Maturity Date: February 10, 2014 (unless earlier
redeemed as described under
"Additional Terms-Optional Redemption"
below).
Principal Amount
(in Specified Currency): USD20,000,000
Price to Public (Issue Price): 100.00%
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. 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.
Net Proceeds to Issuer: USD20,000,000
Interest Rate: The Notes will pay
interest at the rate of 6.0% per annum
for the period from the Original Issue
Date up to but excluding the Interest
Payment Date scheduled to occur on
August 10, 1999; thereafter, the
interest rate on the Notes will reset
semi-annually on each August 10 and
February 10, in accordance with the
schedule set forth under "Additional
Terms-Interest" below.
Interest Payment Period: Semi Annually
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> Page 2
Pricing Supplement No. 3307
Dated February 3, 1999
Rule 424(b)(3)-Registration Statement
No. 333-59707
Interest Payment Date(s):
August 10 and February 10 of each year commencing
August 10, 1999 (with respect to the period from and
including February 8, 1999 to but excluding August 10,
1999) and on the Maturity Date (with respect to the
period from and including August 10, 2013 to but
excluding February 10, 2014), unless earlier redeemed.
See "Additional Terms-Interest" below.
Form of Notes:
X DTC registered ___ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: February 10, 2000
(See "Additional Terms-Redemption"
below)
Initial Redemption Percentage: 100.00%
Optional Repayment Date(s): 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
<PAGE> Page 3
Pricing Supplement No. 3307
Dated February 3, 1999
Rule 424(b)(3)-Registration Statement
No. 333-59707
Additional Terms:
Interest:
Interest on the Notes will accrue from February 8, 1999 and will
be payable in U.S. Dollars semi-annually on August 10 and
February 10 of each year, commencing on August 10, 1999 (with
respect to the period from and including February 8, 1999 to but
excluding August 10, 1999) and on the Maturity Date (with respect
to the period from and including August 10, 2013 to but excluding
February 10, 2014), or date or earlier redemption (each, an
"Interest Payment Date"). Interest will accrue from and
including each Interest Payment Date to but excluding the next
succeeding Interest Payment Date. In the event an Interest
payment date falls on a day other than a Business Day, interest
will be paid on the next succeeding Business Day and no interest
on such payment shall accrue for the period from and after such
Interest Payment Date to such next succeeding Business Day. The
interest rate on the Notes will be equal to 6.0% per annum from
and including the Original Issue Date up to but excluding August
10, 1999. Thereafter the interest rate will be subject to
adjustment annually on August 10in accordance with the following
schedule:
Interest Period: Interest Rate:
August 8, 1999 to August 7, 2000 6.00% per annum
August 8, 2000 to August 7, 2001 6.05% per annum
August 8, 2001 to August 7, 2002 6.10% per annum
August 8, 2002 to August 7, 2003 6.15% per annum
August 8, 2003 to August 7, 2004 6.20% per annum
August 8, 2004 to August 7, 2005 6.25% per annum
August 8, 2005 to August 7, 2006 6.30% per annum
August 8, 2006 to August 7, 2007 6.35% per annum
August 8, 2007 to August 7, 2008 6.40% per annum
August 8, 2008 to August 7, 2009 6.45% per annum
August 8, 2009 to August 7, 2010 6.50% per annum
August 8, 2010 to August 7, 2011 6.55% per annum
August 8, 2011 to August 7, 2012 6.75% per annum
August 8, 2012 to August 7, 2013 7.00% per annum
August 8, 2013 to February 10, 2014 8.00% per annum
Optional Redemption:
The Company may at its option elect to redeem the Notes in
whole on February 10, 2000 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 any
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.
<PAGE> Page 4
Pricing Supplement No. 3307
Dated February 3, 1999
Rule 424(b)(3)-Registration Statement
No. 333-59707
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.
Certain Investment Considerations:
Prospective purchasers of the Notes should be aware that the
Notes will pay interest at different fixed rates each year
through the Maturity Date unless earlier redeemed by the
Company. Prospective purchasers should also be aware that
the Company has the option to redeem the Notes on any
Optional Redemption Date and will be likely to elect to
redeem the Notes in the event prevailing market interest
rates are lower than the then-current interest rate on the
Notes.
Additional Information:
General.
At September 26, 1998, the Company had outstanding
indebtedness totalling $154.431 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 26, 1998
excluding subordinated notes payable after one year was equal
to $153.734 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
1993 1994 1995 1996 1997 September 26, 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.
<PAGE> Page 5
Pricing Supplement No. 3307
Dated February 3, 1999
Rule 424(b)(3)-Registration Statement
No. 333-59707
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, June 27, 1998 and
September 26, 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 Salomon Smith Barney (the
"Underwriter"), as principal, at the Issue Price of 100% 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 negotiates transactions or
otherwise, at prices to be 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.
