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Proc-Type: 2001,MIC-CLEAR
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PROSPECTUS Pricing Supplement No. 4087 Dated June 17, 2004 Dated October 26, 2004 PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement Dated June 18, 2004 No. 333-114095 GENERAL ELECTRIC CAPITAL CORPORATION GLOBAL MEDIUM-TERM NOTES, SERIES A (Floating Rate Notes) Trade Date: October 26, 2004 Settlement Date (Original Issue Date): October 29, 2004 Maturity Date: December 15, 2009 Principal Amount (in Specified Currency) U.S.$ 1,000,000,000 Price to Public (Issue Price): 100.00% Agent's Discount or Commission: 0.250% Net Proceeds to Issuer (in Specified Currency): U.S.$ 997,500,000 Interest Rate: Interest Calculation: n
Regular Floating Rate Inverse Floating Rate Other Floating Rate Interest Rate Basis: LIBOR Index Currency: U.S. Dollars Spread (Plus or Minus) Plus 0.12% Index Maturity: Three Months Spread Multiplier: N/A Index Maturity: Quarterly Maximum Interest Rate: N/A Minimum Interest Rate: N/A Interest Payment Period: Quarterly Interest Payment Dates: Quarterly on each March 15th, June 15th, September 15th and December 15th of each year, commencing December 15, 2004. Initial Interest Rate: To be determined two London Business Days prior to the Original Issue Date based on three month USD LIBOR plus 12 basis points. Interest Reset Periods and Dates: Quarterly on each Interest Payment Date. Interest Determination Dates: Quarterly, two London Business Days prior to each Interest Reset Date. 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. (Floating Rate) Page 2 Pricing Supplement No. 4087 Rule 424(b)(3)-Registration Statement No.333-114095 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. CUSIP No.: 36962GM35 ISIN: US36962GM357 Common Code: 020482273 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 (Floating Rate) Page 3 Pricing Supplement No. 4087 Dated October 26, 2004 Rule 424(b)(3)-Registration Statement No. 333-114095 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 Additional Information
General.
At September 30, 2004, the Company had outstanding indebtedness totaling $320.210 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 30, 2004, excluding subordinated notes payable after one year was equal to $319.393 billion.
Consolidated Ratio of Earnings 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 September 30, 2004 |
||||
1999 |
2000 |
2001 |
2002 |
2003 |
|
1.60 |
1.52 |
1.72 |
1.65 |
1.86 |
1.85 |
|
(Floating Rate) |
Page 4 |
|
Pricing Supplement No. 4087 |
|
Dated October 26, 2004 |
|
Rule 424(b)(3)-Registration Statement |
|
No. 333-114095 |
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 100.00% of the aggregate principal amount less an underwriting discount equal to 0.250% of the principal amount of the Notes.
Institution Joint Lead Managers: |
Commitment |
Credit Suisse First Boston LLC |
$313,334,000 |
J.P. Morgan Securities Inc. |
$313,333,000 |
Lehman Brothers Inc. |
$313,333,000 |
Co-Managers: |
|
Guzman & Company |
$ 20,000,000 |
Ormes Capital Markets Inc. |
$ 20,000,000 |
Samuel A. Ramirez & Co. Inc. |
$ 20,000,000 |
Total |
$1,000,000,000 |
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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