PROSPECTUS |
Pricing Supplement No. 4362 |
March 29, 2006 |
Dated May 9, 2006 |
PROSPECTUS SUPPLEMENT |
Filed Pursuant to Rule 424(b)(3) |
March 29, 2006 |
Registration Statement No. 333-132807 |
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Fixed Rate/Floating Rate Notes)
Issuer: |
General Electric Capital Corporation |
Ratings: |
Aaa/AAA |
Trade Date/Pricing Effective Time: |
May 9, 2006 |
Settlement Date (Original Issue Date): |
May 12, 2006 |
Maturity Date: |
May 11, 2010 |
Principal Amount: |
US$500,000,000 |
Price to Public (Issue Price): |
100.00% |
Agents Commission: |
0.20% |
All-in Price: |
99.80% |
Net Proceeds to Issuer: |
US$499,000,000 |
Fixed Rate Provisions |
|
Fixed Rate Period: |
May 12, 2006 to but excluding May 11, 2007 |
Benchmark: |
Eurodollar Synthetic Forward Rate as per Bloomberg Page EDSF |
Yield: |
5.404% |
Spread to Benchmark: |
Plus 0.06% |
Re-Offer Yield: |
5.464% |
Pricing Supplement No. 4362
Page 2 |
Dated May 9, 2006 |
Filed Pursuant to Rule 424(b)(3) |
Registration Statement No. 333-132807 |
Fixed Interest Rate: |
5.464% |
Fixed Rate Interest Payment Date: |
May 11, 2007
|
Day Count Convention: |
Actual/360 |
Floating Rate Provisions |
|
Floating Rate Period: |
May 11, 2007 to but excluding the Maturity Date |
Interest Rate Basis (Benchmark): |
LIBOR, as determined by LIBOR Telerate |
Index Currency: |
U.S. Dollars |
Spread (plus or minus): |
Plus 0.06% |
Index Maturity: |
Three Month |
Index Payment Period: |
Quarterly |
Floating Rate Interest Payment Dates: |
Quarterly on the 11th day of each August, November, February and May, commencing on August 11, 2007, ending on the Maturity Date |
Initial Interest Rate: |
To be determined two London Business Days prior to May 11, 2007 based on three month USD LIBOR plus 0.06% |
Interest Reset Periods and Dates: |
Quarterly on each Floating Rate Interest Payment Date |
Interest Determination Dates: |
Quarterly, two London business Days prior to each Interest Reset Date |
Day Count Convention: |
Actual/360 |
Denominations: |
Minimum of $1,000 with increments of $1,000 thereafter |
Call Dates (if any): |
Not Applicable |
Call Notice Period: |
Not Applicable |
Pricing Supplement No. 4362 Page 3 |
Dated May 9, 2006 |
Filed Pursuant to Rule 424(b)(3) |
Registration Statement No. 333-132807 |
Put Dates (if any): |
Not Applicable |
Put Notice Period: |
Not Applicable |
CUSIP: |
36962GX33 |
ISIN: |
Not Applicable |
Common Code: |
Not Applicable |
Other: |
Not Applicable |
Interest on the Notes for the period from and including May 12, 2006 to but excluding May 11, 2007 (the "Fixed Rate Period") will be payable in U.S. Dollars on May 11, 2007 (the "Fixed Rate Interest Payment Date"). During the Fixed Rate Period, the interest on the Notes will be equal to 5.464% per annum. During the Fixed Rate Period, interest will be computed and paid on an Actual/360 basis (based upon the actual number of days elapsed in each month in a 360-day year of twelve 30-day months).
Interest on the Notes for the period from and including May 11, 2007 to but excluding the Maturity Date (the "Floating Rate Period") will be payable in U.S. Dollars quarterly, in arrears, on the 11th day of each quarter, commencing August 11, 2007 (each a "Floating Rate Interest Payment Date"). During the Floating Rate Period, the interest rate on the Notes will be equal to the sum of three month USD LIBOR plus 0.06%. The initial floating rate will be determined two London Business Days prior to May 11, 2007 based on three month USD LIBOR plus 0.06%. During the Floating Rate Period, the interest rate will be reset quarterly on each Floating Rate Interest Payment Date (the "Interest Reset Date"), and will be determined quarterly, two London Business Days prior to each Interest Reset Date. During the Floating Rate Period, interest will be computed and paid on the basis as provided for LIBOR Notes in the prospectus of the Issuer dated March 29, 2006, as supplemented by the prospectus supplement of the Issuer dated March 29, 2006, under "DESCRIPTION OF NOTES- Interest and Interest Rates - Floating Rate Notes - How Interest is Calculated."
Pricing Supplement No. 4362 Page 4 |
Dated May 9, 2006 |
Filed Pursuant to Rule 424(b)(3) |
Registration Statement No. 333-132807 |
The Notes are being purchased by Banc of America Securities LLC (the "Underwriter"), as principal, at 100.00% of the aggregate principal amount less an underwriting discount equal to 0.20% of the principal amount of the Notes. GE Capital Markets, Inc. will act as a sales agent in connection with the offering and will receive a fee from the Underwriter equal to 0.10% 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.
At March 31, 2006, the Company had outstanding indebtedness totaling $359.920 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 March 31, 2006, excluding subordinated notes payable after one year, was equal to $357.254 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 ,
|
Three Months ended March 31, |
||||||||
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
||||
1.56 |
1.62 |
1.71 |
1.82 |
1.66 |
1.63 |
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.
CAPITALIZED TERMS USED HEREIN WHICH ARE DEFINED IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT