-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GRdkzpMNf3U+dKGpIf6aq4YY1gNkExH7z3qFke513DrSc3/CebOgzFWtWQG5MpOT Oo63pMLbXhziErEKS85DyQ== 0000040554-96-000188.txt : 19961027 0000040554-96-000188.hdr.sgml : 19961027 ACCESSION NUMBER: 0000040554-96-000188 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961024 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 033-60723 FILM NUMBER: 96647292 BUSINESS ADDRESS: STREET 1: 260 LONG RIDGE RD CITY: STAMFORD STATE: CT ZIP: 06927 BUSINESS PHONE: 2033574000 MAIL ADDRESS: STREET 1: 260 LONG RIDGE ROAD CITY: STAMFORD STATE: CT ZIP: 06927 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 424B3 1 PROSPECTUS Pricing Supplement No. 2910 Dated January 10, 1995 Dated October 22, 1996 PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement No. 33-60723 Dated January 25, 1995 GENERAL ELECTRIC CAPITAL CORPORATION GLOBAL MEDIUM-TERM NOTES, SERIES A (Redeemable Step Down Coupon Notes) rade Date: October 22, 1996 Settlement Date (Original Issue Date): October 25, 1996 Maturity Date: October 25, 2011 (subject to earlier redemption, as set forth below under "Additional Terms-Redemption") Principal Amount (in Specified Currency): US$20,000,000 Price to Public (Issue Price): 100.00% Agent's Discount or Commission: 0.125% Net Proceeds to Issuer: US$19,975,000 Interest Rate Per Annum: 8.00% for the period from and including October 25, 1996 to but excluding October 25, 1997; thereafter, 7.25% per annum for the period from and including October 25, 1997 up to but excluding the Maturity Date or date of earlier redemption. Interest Payment Date(s): __ March 15 and September 15 of each year X Other: Semi-Annually on April 25 and October 25, commencing April 25, 1997 Repayment, Redemption and Acceleration: Initial Redemption Date: October 25, 1997, 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 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) Page 2 Pricing Supplement No. 2910 Dated October 22, 1996 Rule 424(b)(3)-Registration Statement No. 33-60723 Form of Notes: X DTC registered __ non-DTC registered Original Issue Discount: Amount of OID: N/A Yield to Maturity: N/A Interest Accrual Date: N/A Initial Accrual Period OID: 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. Interest on the Notes will accrue from and including October 25, 1996 and will be payable in U.S. dollars semi-annually on April 25 and October 25 each year, commencing April 25, 1997 up to and including the Maturity Date or date of 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 8.00% per annum from and including the Original Issue Date up to but excluding October 25, 1997; thereafter, the interest rate will be adjusted to 7.25% per annum from and including October 25, 1997 to but excluding the Maturity Date or date of earlier redemption. (Fixed Rate Notes) Page 3 Pricing Supplement No. 2910 Dated October 22, 1996 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 October 25, 1997 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, 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. Additional Information: General. At June 29, 1996, the Company had outstanding indebtedness totalling $112.517 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 June 29, 1996 excluding subordinated notes payable after one year was equal to $111.820 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, Six Months Ended 1991 1992 1993 1994 1995 June 29, 1996 1.34 1.44 1.62 1.63 1.51 1.52 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) Page 4 Pricing Supplement No. 2910 Dated October 22, 1996 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 is hereby incorporated in the Prospectus by reference the Company's Annual Report on Form 10-K for the year ended December 31, 1995, the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 1996 and June 29, 1996 and the Company's Form 8-K dated June 28, 1996 heretofore filed with the Securities and Exchange Commission pursuant to the 1934 Act, to which reference is hereby made. Plan of Distribution: The Notes are being purchased by Goldman, Sachs & Co. (the "Underwriter"), as principal, at 100% of the aggregate principal amount, less an underwriting discount equal to 0.125% 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. -----END PRIVACY-ENHANCED MESSAGE-----