PROSPECTUS Amended Pricing Supplement No. 3422
Dated April 28, 1999 Dated August 6, 1999 (Revised August 13, 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 Fixed Rate Notes)
Trade Date: August 6, 1999
Settlement Date (Original Issue Date): August 20, 1999
Maturity Date: August 20, 2014 (subject to earlier redemption,
as set forth under "Additional Terms-Optimal
Redemption")
Principal Amount (in Specified Currency): US$225,000,000
Price to Public (Issue Price):100.00%
Agent's Discount or Commission: 1.50%
Net Proceeds to Issuer: US$221,625,000
Interest Rate Per Annum: 8.00%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Each February 20th and August 20th,
commencing February 20, 2000. (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")
Form of Notes:
X DTC registered ____ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: August 20, 2000 (See "Additional
Terms-Optional 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
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 Rate Notes)
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Amended Pricing Supplement No. 3422
Dated August 6, 1999 (Revised August 13, 1999)
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
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 Interest
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.
Optional Redemption.
The Company may at its option elect to redeem the Notes in
whole or in part on August 20, 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 the event the Company elects to redeem the Notes,
notice will be given to registered holders at least 30 days
prior to the Redemption Date.
<PAGE> (Fixed Rate Notes)
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Amended Pricing Supplement No. 3422
Dated August 6, 1999 (Revised August 13, 1999)
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
Additional Information:
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:
The Notes are being purchased by Salomon Smith Barney Inc.
(the "Underwriter"), as principal, at the Issue Price of
100.00% of the aggregate principal amount less an underwriting
discount equal to 1.50% of the principal amount of the Notes.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the
Securities Act of 1933, as amended.
