PROSPECTUS

PROSPECTUS

Pricing Supplement No. 4053

Dated June 17, 2004

Dated August 31, 2004

PROSPECTUS SUPPLEMENT

Rule 424(b)(3)-Registration Statement

Dated June 18, 2004

No. 333-100527 and 333-114095

 

GENERAL ELECTRIC CAPITAL CORPORATION

GLOBAL MEDIUM-TERM NOTES, SERIES A

(Floating Rate Notes)

 

Trade Date:

August 31, 2004

Settlement Date (Original Issue Date):

September 3, 2004

Maturity Date:

January 15, 2008

Principal Amount (in Specified Currency)

US$ 1,000,000,000

Price to Public (Issue Price):

100.00%

Agent's Discount or Commission:

0.15%

Net Proceeds to Issuer (in Specified Currency):

US$ 998,500,000

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 0.075%

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 3rd , June 3rd , September 3rd and December 3rd of each year, commencing December 3, 2004.

Initial Interest Rate:

To be determined two London Business Days prior to the Original Issue Date based on three month USD LIBOR plus 7.5 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)

 

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Pricing Supplement No. 4053

 

Dated August 31, 2004

 

Rule 424(b)(3)-Registration Statement

 

No. 333-100527 and 333-114095

Clearance and Settlement:

X

 

DTC Only

 

 

 

 

 

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.: 36962GK45

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)

 

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Pricing Supplement No. 4053

 

Dated August 31, 2004

 

Rule 424(b)(3)-Registration Statement

 

No. 333-100527 and 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

 

 

Other Listing

Additional Information:

General.

At June 30, 2004, the Company had outstanding indebtedness totaling $316.226 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 June 30, 2004, excluding subordinated notes payable after one year was equal to $315.333 billion.

Consolidated Ratio of Earning 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,

 

Six Months Ended June 30, 2004

1999

2000

2001

2002

2003

 

1.60

1.52

1.72

1.65

1.86

1.73

 

 

 

 

 

 

 

 

 

 

(Floating Rate)

 

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Pricing Supplement No. 4053

 

Dated August 31, 2004

 

Rule 424(b)(3)-Registration Statement

 

No. 333-100527 and 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 Lehman Brothers Inc. (the "Underwriter"), as principal, at 100.00% of the aggregate principal amount less an underwriting discount equal to 0.15% 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.