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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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GECC SERIES A FIXED RATE PRICING SUPPLEMENT PROSPECTUS Pricing Supplement No. 3898 Dated November 21, 2002 Dated April 29, 2003 PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement Dated November 22, 2002 No. 333-100527 GENERAL ELECTRIC CAPITAL CORPORATION GLOBAL MEDIUM-TERM NOTES, SERIES A (Fixed Rate Notes) Trade Date: April 29, 2003 Settlement Date (Original Issue Date): May 2, 2003 Maturity Date: May 1, 2008 Principal Amount (in Specified Currency): US$ 2,000,000,000 Price to Public (Issue Price): 99.900% Agent's Discount or Commission: 0.325% Net Proceeds to Issuer: US$1,991,500,000 Interest Rate Per Annum: 3.50% Interest Payment Date(s): X May 1st and November 1st of each year commencing November 1, 2003 (with respect to the period from and including May 2, 2003 to but excluding November 1, 2003) and ending on the Maturity Date. Clearance and Settlement: ___ DTC only X DTC global (including through its indirect participants Euroclear and Clearstream, Luxembourg as described under "Global Clearance and Settlement Procedures" in the accompanying Prospectus Supplement) ___ DTC and Euroclear/Clearstream, Luxembourg (as described under "Description of Notes General - Special Provisions Relating to Certain Foreign Currency Notes" in the accompanying Prospectus Supplement). ___ Euroclear and Clearstream, Luxembourg only 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) Page 2 Pricing Supplement No. 3898 Dated April 29, 2003 Rule 424(b)(3)-Registration Statement No. 333-100527 CUSIP No.: 36962GB78 ISIN: US 36962 GB780 Common Code: 016812030 Repayment, Redemption and Acceleration Optional Repayment Date(s): N/A Initial Redemption Date: N/A Initial Redemption Percentage: N/A Annual Redemption Percentage Reduction: N/A Modified Payment Upon Acceleration: 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 Listing: ___ Listed on the Luxembourg Exchange _X_ Not listed on the Luxembourg Exchange ___ Other listing: (specify) (Fixed Rate) Page 3 Pricing Supplement No. 3898 Dated April 29, 2003 Rule 424(b)(3)-Registration Statement No. 333-100527 General. At December 31, 2002 the Company had outstanding indebtedness totaling $261.603 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 December 31, 2002 excluding subordinated notes payable after one year was equal to $260.638 billion.
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, |
|||||
1997 |
1998 |
2000 |
2001 |
2002 |
|
1.50 |
1.60 |
1.52 |
1.72 |
1.65 |
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 the following financial institutions in their respective amounts (collectively, the "Underwriters"), as principal, at 99.900% of the aggregate principal amount less an underwriting discount equal to 0.325% of the principal amount of the Notes.
Institution Banc of America Securities LLC |
Commitment $ 640,000,000 |
Goldman, Sachs & Co. |
640,000,000 |
J.P. Morgan Securities Inc. |
640,000,000 |
Blaylock & Partners, L.P. |
20,000,000 |
Muriel Siebert & Co. |
20,000,000 |
Ormes Capital Markets, Inc. |
20,000,000 |
Samuel A. Ramirez & Co. Inc. |
20,000,000 |
Total |
$ 2,000,000,000 |
The Company has agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended.
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