CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities Offered |
Maximum Aggregate Offering Price |
Amount of Registration Fee |
Senior Notes |
$100,000,000 |
$7,130 |
PROSPECTUS Dated January 23, 2009 |
Pricing Supplement Number: 4965 Filed Pursuant to Rule 424(b)(3) |
PROSPECTUS SUPPLEMENT Dated January 23, 2009 |
Dated January 8, 2010 Registration Statement: No. 333-156929 |
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Senior Unsecured Floating Rate Notes)
Investing in these notes involves risks.
See "Risk Factors" in Item 1A of our Quarterly Report on Form 10-Q for the period ended March 31, 2009 and our Annual Report on Form 10-K for the year ended December 31, 2008 both filed with the Securities and Exchange Commission.
Issuer: |
General Electric Capital Corporation |
Ratings: |
Aa2 (stable) / AA+ (stable)* |
Trade Date: |
January 8, 2010 |
Settlement Date (Original Issue Date): |
January 15, 2010 |
Maturity Date: |
January 15, 2013 |
Principal Amount: |
US $100,000,000 |
Price to Public (Issue Price): |
100.000% |
Agents Commission: |
0.200% |
All-in Price: |
99.800% |
Net Proceeds to Issuer: |
US $99,800,000 |
Ranking: |
Senior |
Interest Rate Basis (Benchmark): |
LIBOR, as determined by Reuters |
Index Currency: |
U.S. Dollars |
Spread (Plus or Minus): |
Plus 0.85% |
Index Maturity: |
Three Months |
Interest Payment Period: |
Quarterly |
Interest Payment Dates:
|
Quarterly on the 15th of each January, April, July, October commencing April 15, 2010 and ending on the Maturity Date |
Initial Interest Rate: |
To be determined two London Business Days prior to the Original Issue Date |
Interest Reset Periods and Dates: |
Quarterly on each Interest Payment Date |
Page 2 |
|
Filed Pursuant to Rule 424 (b)(3) |
|
Dated January 8, 2010 |
|
Registration Statement No. 333-156929 |
Interest Determination Date: |
Quarterly, two London Business Days prior to each Interest Reset Date |
Day Count Convention: |
Actual/360, Modified Following |
Business Day Convention: |
New York |
Denominations: |
Minimum of $1,000 with increments of $1,000 thereafter |
CUSIP: |
36962G4K7 |
Method of Settlement: |
Depository Trust Company (DTC), and its direct participants, including Euroclear and Clearstream, Luxembourg |
Trustee: |
The Bank of New York Mellon |
*The security ratings above are not a recommendation to buy, sell or hold the securities offered hereby. The ratings may be subject to revision or withdrawal at any time. Each of the security ratings above should be evaluated independently of any other security rating.
Plan of Distribution
The Notes are being purchased by the underwriter listed below (the "Underwriter"), as principal, at 99.800% of the aggregate principal amount less an underwriting discount equal to 0.20% of the principal amount of the Notes.
Institution Book Runner: |
Commitment |
Citigroup Global Markets Inc. |
$100,000,000 |
Total |
$100,000,000 |
Additional Information
General
At the quarter ended September 30, 2009, we had outstanding indebtedness totaling $504.076 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, 2009, excluding subordinated notes and debentures payable after one year, was equal to $493.958 billion.
Page 3 |
Filed Pursuant to Rule 424(b)(3) |
Dated January 8, 2010 |
Registration Statement No. 333-156929 |
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 |
||||
2004 |
2005 |
2006 |
2007 |
2008 |
September 30, 2009 |
1.82 |
1.66 |
1.63 |
1.56 |
1.24 |
0.88 |
For purposes of computing the consolidated ratio of earnings to fixed charges, earnings consist of net earnings adjusted for the provision for income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
Fixed charges consist of interest and discount on all indebtedness and one-third of rentals, which we believe is a reasonable approximation of the interest factor of such rentals.
As set forth above, GE Capitals ratio of earnings to fixed charges declined to 0.88:1 in the first nine months of 2009 due to lower pre-tax earnings which were primarily driven by higher provisions for losses on financing receivables in connection with the challenging economic environment. As of September 30, 2009, the amount of earnings needed to achieve a one-to-one ratio of earnings to fixed charges was $1.689 million.
CAPITALIZED TERMS USED HEREIN WHICH ARE DEFINED IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT.