|
PROSPECTUS |
Pricing Supplement No. 4010 |
|
Dated November 21, 2002 |
Dated March 24, 2004 |
|
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
(Floating Rate Notes)
Trade Date: March 24, 2004
Settlement Date (Original Issue Date): March 29, 2004
Maturity Date: March 29, 2006
Principal Amount (in Specified Currency): US$ 1,000,000,000
Price to Public (Issue Price): 100.00%
Agent's Discount or Commission: 0.10%
Net Proceeds to Issuer: US$ 999,000,000
Interest Rate:
Interest Calculation:
n Regular Floating Rate
o Inverse Floating Rate
o Other Floating Rate
Interest Rate Basis: o CD Rate o Commercial Paper Rate
n Federal Funds Open Rate (See "Additional Terms - Interest" below)
o LIBOR o Prime Rate o Treasury Rate
o Other (See "Additional Terms - Interest" below)
Spread (Plus or Minus): Federal Funds Open Rate plus 14 basis points
Spread Multiplier: N/A
Index Maturity: Overnight
Index Currency: U.S. Dollars
Maximum Interest Rate: N/A
Minimum Interest Rate: 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.
|
|
(Floating Rate) |
|
|
Page 2 |
|
|
Pricing Supplement No. 4010 |
|
|
Dated March 24, 2004 |
|
|
Rule 424(b)(3)-Registration Statement |
|
|
No. 333-100527 |
Interest Payment Period: Quarterly
Interest Payment Dates: Quarterly on each March 29th , June 29th , September 29th and December 29th , commencing June 29, 2004.
Initial Interest Rate: Determined as described herein.
Interest Reset Periods and Dates: Daily on each Business Day provided that the Federal Funds Open Rate in effect for any day that is not a Business Day shall be the Federal Funds Open Rate in effect for the prior Business Day.
Interest Determination Dates: On each Interest Reset 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
CUSIP No.: 36962GH64
ISIN: US36962GH647
Common Code: 018976587
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
|
|
(Floating Rate) |
|
|
Page 3 |
|
|
Pricing Supplement No. 4010 |
|
|
Dated March 24, 2004 |
|
|
Rule 424(b)(3)-Registration Statement |
|
|
No. 333-100527 |
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)
Additional Information:
General.
At December 31, 2003, the Company had outstanding indebtedness totaling $286.684 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, 2003, excluding subordinated notes payable after one year was equal to $285.721 billion.
.
|
|
(Floating Rate) |
|
|
Page 4 |
|
|
Pricing Supplement No. 4010 |
|
|
Dated March 24, 2004 |
|
|
Rule 424(b)(3)-Registration Statement |
|
|
No. 333-100527 |
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, |
|
|
|
|
1999 |
2000 |
2001 |
2002 |
2003 |
|
|
1.60 |
1.52 |
1.72 |
1.65 |
1.86 |
|
|
|
|
|
|
|
|
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.
Additional Terms:
Interest
The interest rate applicable to each Interest Reset Period will equal the Federal Funds Open Rate (as defined below) plus the Spread set forth above.
The "Federal Funds Open Rate" for an Interest Determination Date will be the rate for that day under the heading "Federal Funds" for the relevant Index Maturity and opposite the caption "Open" as such rate is displayed on Moneyline Telerate Page 5.
If on a Calculation Date for an Interest Period such rate for an Interest Determination Date in that Interest Period does not appear on Moneyline Telerate Page 5, the rate for the Interest Determination Date will be the rate for that day displayed on FFPREBON Index page on Bloomberg which is the Fed Funds Opening Rate as reported by Prebon Yamane (or a successor) on Bloomberg.
If on a Calculation Date for an Interest Period such rate for an Interest Determination Date in that Interest Period does not appear on Moneyline Telerate Page 5 or FFPREBON Index page on Bloomberg, the rate for such Interest Determination Date will be the arithmetic mean of the rates for the last transaction in overnight U.S. Dollar Federal Funds prior to 9.00 am, New York City time, on that day arranged by three brokers of Federal Funds transactions in New York City as selected by the Calculation Agent.
|
|
(Floating Rate) |
|
|
Page 5 |
|
|
Pricing Supplement No. 4010 |
|
|
Dated March 24, 2004 |
|
|
Rule 424(b)(3)-Registration Statement |
|
|
No. 333-100527 |
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 0.10% of the principal amount of the Notes.
|
Institution Lehman Brothers Inc. |
Commitment $ 313,300,000 |
|
Morgan Stanley & Co. Incorporated |
313,300,000 |
|
UBS Securities LLC |
313,400,000 |
|
Guzman & Company |
20,000,000 |
|
HSBC Securities (USA) Inc. |
20,000,000 |
|
Utendahl Capital Group, LLC |
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.