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Pricing Supplement No. 8 dated October 15, 1998 Registration Nos. 333-38171
(To Prospectus dated August 7, 1998 and 333-38171-01
Prospectus Supplement dated August 7, 1998) Filing under Rule 424(b)(3)
FINOVA CAPITAL CORPORATION
Medium-Term Notes - Floating Rate
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Principal Amount: $25,000,000 Original Issue Date (Settlement Date): October 20, 1998
Stated Maturity: April 20,2000
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Calculation Agent (If other than The First National Bank of Chicago):
Base Rate or Base Rates:
[ ] CMT Rate [X] LIBOR
[ ] Commercial Paper Rate [ ] Prime Rate
[ ] Eleventh District Cost of Funds Rate [ ] Treasury Rate
[ ] Federal Funds Rate [ ] Other (see attached)
If LIBOR: If CMT Rate:
[ ] LIBOR Reuters Designated CMT Telerate Page:
Page: If Telerate Page 7052:
[X] LIBOR Telerate [ ] Weekly Average
Page: 3750 [ ] Monthly Average
Designated LIBOR Currency: USD Designated CMT Maturity Index:
Interest Payment Date(s): 20th of January, April, July, October
(following business day convention applies) Spread (plus or minus):+.55%
Initial Interest Rate: 5.76891% Spread Multiplier:N/A
Interest Reset Date: same as Interest Payment Date Minimum Interest Rate:N/A
Interest Rate Reset Period: Quarterly Maximum Interest Rate:N/A
Index Maturity: Quarterly
Interest Determination Date(s):second London Business Day before the Interest Reset Date
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Day Count Convention (if no Day Count Convention is specified below, the Day
Count Convention from the Original Issue Day until the principal of,
premium, if any, and interest on the Medium-Term Notes offered hereby (the
"Notes") are paid in full will be as set forth in the Prospectus Supplement
referred to above):
[X] Actual/360 for the period from October 20, 1998 to April 20, 2000
[ ] Actual/Actual for the period from to
[ ] 30/360 for the period from to
Applicable Base Rate:
Redemption:
[X] The Notes cannot be redeemed at the option of FINOVA Capital Corporation
(the "Company") prior to Stated Maturity.
[ ] The Notes may be redeemed at the option of the Company prior to Stated
Maturity.
Initial Redemption Date:
Initial Redemption Percentage: %
Annual Redemption Percentage Reduction: % until the Redemption Price
is 100% of the Principal Amount.
Optional Repayment:
[X] The Notes cannot be repaid at the option of the Holders thereof prior
to Stated Maturity.
[ ] The Notes can be repaid at the option of the Holders thereof prior to
Stated Maturity.
Optional Repayment Date(s):
Authorized Denomination (if other than $1,000 and integral multiples thereof):
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Original Issue Discount: [ ] Yes [X] No
Total Amount of OID: Yield to Maturity:
Initial Accrual Period: Issue Price: %
Method used to determine yield for Initial Accrual Period:
[ ] Approximate
[ ] Exact
Form: [X] Book-Entry [ ] Certificated
Agent:[ ] Credit Suisse First Boston Corporation
[ ] Goldman, Sachs & Co.
[ ] Lehman Brothers Inc.
[X] Merrill Lynch & Co.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
[ ] Morgan Stanley & Co. Incorporated
[ ] Salomon Smith Barney Inc
Agent is acting in the capacity indicated below:
[X] Agent [ ] Principal
If as principal:
[ ] The Notes are being offered at varying prices related to
prevailing market prices at the time of resale, plus accrued
interest, if any, from the Original Issue Date.
[ ] The Notes are being offered at a fixed initial public offering
price of % of the Principal Amount, plus accrued interest,
if any, from the Original Issue Date.
If as agent:
The Notes are being offered at a fixed initial public offering price
of 100% of the Principal Amount, plus accrued interest, if any,
from the Original Issue Date.
Agent's discount or commission:.20%
Net proceeds to Company:$24,950,000
CUSIP:31808CBZ4
Other Provisions:
Trustee: The First National Bank of Chicago
Certain capitalized terms used in this Pricing Supplement and not defined herein
have the respective meanings ascribed thereto in the Prospectus and Prospectus
Supplement referred to above.
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