<PAGE>

                                                                    EXHIBIT 4(u)


                 FORM OF TEMPORARY GLOBAL FIXED RATE BEARER NOTE
                     Temporary Global Fixed Rate Bearer Note

                      GENERAL ELECTRIC CAPITAL CORPORATION


BEARER                                                               BEARER
No. TGFX                                                             [    ]/1/
                                                                     [    ]/2/



[THIS NOTE CONSTITUTES [COMMERCIAL PAPER/[A SHORTER/LONGER] TERM DEBT
SECURITY]/3/ ISSUED IN ACCORDANCE WITH REGULATIONS MADE UNDER SECTION 4 OF THE
BANKING ACT 1987. GENERAL ELECTRIC CAPITAL CORPORATION IS NOT AN AUTHORIZED
INSTITUTION UNDER THE BANKING ACT 1987. REPAYMENT OF THE PRINCIPAL AND THE
PAYMENT OF ANY INTEREST OR PREMIUM IN CONNECTION WITH THIS NOTE HAS NOT BEEN
GUARANTEED.]/4/

THIS SECURITY IS A TEMPORARY GLOBAL BEARER NOTE, WITHOUT COUPONS, EXCHANGEABLE
FOR AN INTEREST IN A PERMANENT GLOBAL BEARER NOTE, WITHOUT COUPONS, REPRESENTING
(AND EXCHANGEABLE FOR) DEFINITIVE BEARER NOTES OR IF SO PROVIDED HEREIN
REGISTERED NOTES.  IF SO PROVIDED HEREIN, THIS GLOBAL NOTE MAY ALSO BE EXCHANGED
DIRECTLY FOR DEFINITIVE BEARER NOTES OR DEFINITIVE REGISTERED NOTES.  THE RIGHTS
ATTACHING TO THIS NOTE AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE
ARE AS SPECIFIED IN THE FISCAL AGENCY AGREEMENT (AS DEFINED HEREIN).

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO
LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS
PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR AN INTEREST IN A
PERMANENT GLOBAL BEARER NOTE OR FOR DEFINITIVE NOTES, THIS GLOBAL NOTE MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.




_______________________
/1/  Insert Principal Amount.

/2/  Insert Optional Payment Amount if the Note has a dual-currency feature.

/3/  Please delete as appropriate. Include "commercial paper" if Notes must be
     redeemed before the first anniversary. Include "shorter" if Notes may not
     be redeemed before their first anniversary but must be redeemed before
     their third anniversary. Include "longer" if Notes may not be redeemed
     before their third anniversary.

/4/  This legend to appear on all Notes (whether denominated in Sterling or
     otherwise) in respect of which the issue proceeds are accepted by the
     Issuer in the United Kingdom.
<PAGE>

                      GENERAL ELECTRIC CAPITAL CORPORATION
                              EURO MEDIUM-TERM NOTE

                                  (Fixed Rate)

                                     SERIES:

<TABLE>
<S>                      <C>                                  <C>                                  <C>
COMMON                    INITIAL REDEMPTION DATE:            SPECIFIED (FACE AMOUNT) CURRENCY:   DETERMINATION AGENT:
CODE:

                          INITIAL REDEMPTION PERCENTAGE:      OPTIONAL PAYMENT CURRENCY:          APPLICABILITY OF MODIFIED PAYMENT
ISIN:                                                                                             UPON ACCELERATION OR REDEMPTION:

ORIGINAL ISSUE DATE:      APPLICABILITY OF ANNUAL REDEMPTION  DESIGNATED EXCHANGE RATE:           If yes, state Issue Price and each
                          PERCENTAGE REDUCTION:                                                   redemption date and redemption
                                                                                                  price:
                                                              OPTION VALUE CALCULATION AGENT:
MATURITY DATE:            If yes, state Annual Percentage
                          Reduction:                                                              DENOMINATIONS OF DEFINITIVE NOTES
                                                              INDEXED CURRENCY:                   (if not as set forth herein):
INTEREST RATE:
                          OPTIONAL REPAYMENT DATE(S):
                                                              CURRENCY BASE RATE:                 TAX REDEMPTION DATE:
INTEREST PAYMENT PERIOD:  INTEREST ACCRUAL DATE:
                                                              AVAILABILITY OF
                                                              REGISTERED NOTES:
INTEREST PAYMENT DATE(S): OPTION ELECTION DATES:
                                                              IF THIS NOTE IS EXCHANGEABLE
                                                              DIRECTLY FOR DEFINITIVE NOTES,
                                                              INDICATE FORM(S) OF
                                                              DEFINITIVE NOTES:
</TABLE>

     General Electric Capital Corporation (together with its successors and
assigns, the "Company"), for value received, hereby promises to pay to each of
Euroclear Bank, S.A./N.V., as operator of the Euroclear System (the "Euroclear
Operator"), and Clearstream Banking, societe anonyme  ("Clearstream,
Luxembourg"), or any other recognized or agreed clearing system, with respect to
that portion of this Note held for its account, the principal sum (or Face
Amount, if the Note has a dual-currency or index feature) specified in Schedule
A hereto, on the Maturity Date specified above (except to the extent redeemed or
repaid prior to the Maturity Date) and to pay interest thereon at the Interest
Rate per annum specified above from the Original Issue Date specified above
until the principal hereof is paid or duly made available for payment (except as
provided below), in arrears monthly, quarterly, semiannually or annually as
specified above as the Interest Payment Period on each Interest Payment Date (as
specified above), commencing with the first Interest Payment Date next
succeeding the Original Issue Date specified above, and on the Maturity Date (or
any redemption or repayment date).

     Interest on this Note will accrue from the most recent Interest Payment
Date to which interest has been paid or duly provided for, or, if no interest
has been paid or duly provided for, from the Original Issue Date, until the
principal hereof has been paid or duly made available for payment, in each case,
upon Certification.  Upon the payment of interest on this Note, the Fiscal and
Paying Agent (as defined below) shall cause Schedule A of this Note to be
endorsed to reflect such payment of interest and the amount of interest so paid
shall be noted.  No payments on this Note will be made at any office or agency
maintained by the Company in the United States for the payment of principal of,
premium, if any, and interest, if any, on this Note, nor will any such payment
be made by mail to an address in the United States or by transfer to an account
maintained by the holder of this Note with a bank in the United States.
Notwithstanding the foregoing, if this Note is payable in U.S. dollars and if
payment in U.S. dollars of the full amount payable on this Note at the offices
of all paying agencies outside the

                                       2
<PAGE>

United States would be illegal or effectively precluded as a result of exchange
controls or similar restrictions, payment on this Note will be made by a paying
agency in the United States, if such paying agency, under applicable law and
regulations, would be able to make such payment.

     This Note is issued in bearer form and represents a portion of a duly
authorized issue of Euro Medium-Term Notes of the Series specified above, issued
under a second amended and restated fiscal and paying agency agreement, dated as
of March 31, 1999 among the Company, GE Capital Australia, GE Capital Australia
Funding Pty. Ltd., GE Capital Finance Australia, General Electric Capital Canada
Inc., GE Capital Canada Funding Company, GE Card Services Canada Inc. (formerly
GE Capital Canada Retailer Financial Services Company) and The Chase Manhattan
Bank, as fiscal agent and as principal paying agent (in such capacities, the
"Fiscal and Paying Agent") (as amended and supplemented from time to time, the
"Fiscal Agency Agreement").  The Notes are issuable in bearer form (the "Bearer
Notes"), with interest coupons attached (except in the case of Bearer Notes in
global form), and (if so provided above) are also issuable in fully registered
form, without coupons (the "Registered Notes" and, together with the Bearer
Notes, the "Notes").  Unless otherwise specified above, the definitive Bearer
Notes, with interest coupons attached, are issuable in the denominations of
1,000 units, 10,000 units or 100,000 units of the Specified Currency indicated
on the face hereof and the definitive Registered Notes are issuable in
denominations of 100,000 units of the Specified Currency indicated on the face
hereof or any integral multiple of 1,000 units of such Specified Currency in
excess thereof.

     Except as otherwise provided herein, this Note is governed by the terms and
conditions of the Permanent Global Fixed Rate Bearer Note (the"Permanent Global
Fixed Rate Bearer Note") (or if so specified above, the definitive Fixed Rate
Bearer Notes or definitive Fixed Rate Registered Notes) to be issued in exchange
for this Note, which terms and conditions are hereby incorporated by reference
herein mutatis mutandis and shall be binding on the Company and the holder
       ------- --------
hereof as if fully set forth herein.

     This Note is exchangeable in whole or from time to time in part for (i) an
interest (equal to the principal amount of the Bearer Notes being exchanged
theretofore represented by this Note) in a single Permanent Global Fixed Rate
Bearer Note or (ii) if so specified above, an equal principal amount of
definitive Fixed Rate Bearer Notes and/or definitive Fixed Rate Registered Notes
upon request of the Euroclear Operator or Clearstream, Luxembourg, acting on
behalf of the owner of a beneficial interest in the Note, to the Fiscal and
Paying Agent only on or after the Exchange Date upon Certification to the effect
that the Notes to be issued upon such exchange are not being acquired by or on
behalf of a United States person or, if a United States person has a beneficial
interest in the Notes, that such person is (i) a Qualifying Foreign Branch
purchasing for its own account or for resale, (ii) a United States person who
acquires the Notes through a Qualifying Foreign Branch and who holds the
obligation through such financial institution on the date of Certification, or
(iii) a financial institution who acquires the Notes for purposes of resale
during the Restricted Period other than for purposes of resale directly or
indirectly to a United States person or to a person within the United States.
Upon exchange of any portion of this Note for a Permanent Global Fixed Rate
Bearer Note (or definitive Fixed Rate Bearer Notes and/or definitive Fixed Rate
Registered Notes), the Fiscal and Paying Agent shall cause Schedule A of this
Note to be endorsed to reflect the reduction of its principal amount by an
amount equal to the aggregate principal amount being so exchanged.  Except as
otherwise provided herein, until exchanged for a Permanent Global Fixed Rate
Bearer Note (or definitive Fixed Rate Bearer Notes and/or definitive Fixed Rate
Registered Notes), this Note shall in all respects be entitled to the same
benefits under the Fiscal Agency Agreement as a duly authenticated and delivered
definitive Note.

     If this Note is subject to a tax redemption or if all or any portion of the
principal hereof is accelerated, each as described in the Fiscal Agency
Agreement, payment of the amount due upon any such redemption or acceleration
shall be subject to receipt of Certification.

     Unless the certificate of authentication hereon has been executed by the
Fiscal and Paying Agent by manual signature, this Note shall not be entitled to
any benefit under the Fiscal Agency Agreement or be valid or obligatory for any
purpose.

                                       3
<PAGE>

     As used herein:

     (a) the term "Certification" means a certificate substantially in the form
of Exhibit B-2 hereto delivered by the Euroclear Operator or Clearstream,
Luxembourg, as the case may be, which certificate is based on a certificate
substantially in the form of Exhibit B-1 hereto provided to it by its account
holders;

     (b) the term "Qualifying Foreign Branch" means a branch of a United States
financial institution, as defined in United States Treasury Regulations Section
1.165-12(c)(1)(iv), located outside the United States that is purchasing for its
own account or for resale and that has agreed, as a condition of purchase, to
comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United
States Internal Revenue Code of 1986, as amended and the regulations thereunder;

     (c) the term "Restricted Period" with respect to each issuance means the
period which begins on the earlier of the date on which the Company receives the
proceeds of the sale of this Note with respect to its issuance or the first date
on which this Note is offered to persons other than the Agents, and which ends
40 days after the date on which the Company receives the proceeds of the sale of
this Note; provided that if this Note is held as part of an unsold allotment or
           --------
subscription, any offer or sale of this Note shall be deemed to be during the
Restricted Period;

     (d) the term "United States" means the United States of America (including
the States and the District of Columbia), its territories, its possessions and
other areas subject to its jurisdiction;

     (e) the term "United States person" means (i) a citizen or resident of the
United States, (ii) a corporation, partnership (or any other entity treated as a
corporation or partnership for U.S. federal income tax purposes)  created or
organized in or under the laws of the United States, any state thereof or the
District of Columbia (unless, in the case of a partnership, Treasury regulations
provide otherwise), (iii) an estate the income of which is subject to United
States federal income taxation regardless of its source or (iv) a trust if a
court in the United States is able to exercise primary supervision over the
administration of the trust and one or more United States persons have the
authority to control all substantial decisions of the trust, or if such trust
has a valid election in effect under applicable U.S. Treasury regulations to be
treated as a United States person; and

     (f) all other terms used in this Note which are defined in the Fiscal
Agency Agreement and not otherwise defined herein shall have the meanings
assigned to them in the Fiscal Agency Agreement.

                                       4
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Note to be duly executed
under its corporate seal.

DATED:                        GENERAL ELECTRIC CAPITAL
                                  CORPORATION



[SEAL]                        By:_______________________________________
                                 Title:

Attest:

By:_____________________________________
     Title



CERTIFICATE OF AUTHENTICATION

     This is one of the Notes referred
to in the within-mentioned Fiscal Agency Agreement.



THE CHASE MANHATTAN BANK,
     as Fiscal and Paying Agent

By:________________________________________________
     Authorized Officer

                                       5
<PAGE>

                                                            SCHEDULE A
                                                            ----------


                             SCHEDULE OF EXCHANGES
                             ---------------------

     The Initial Principal Amount of this Note is _____________.  The following
payments of interest and exchanges of a part of this Note for an interest in a
single Permanent Global Fixed Rate Bearer Note (or if so specified above, for
definitive Notes) have been made:


<TABLE>
<CAPTION>

======================================================================================================
                                        Principal (Face)/5/    Remaining
                                         Amount Exchanged   Principal (Face)/5/
                                          for Permanent           Amount         Notation made by
Date of Exchange                          Global Bearer        Outstanding       or on behalf of
 or Interest            Payment of           Notes or         Following Such    Fiscal and Paying
 Payment                 Interest        Definitive Notes        Exchange             Agent
------------------------------------------------------------------------------------------------------
<S>                     <C>             <C>                 <C>                 <C>
------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------

======================================================================================================
</TABLE>

___________________
/5/  To be used instead of "Principal" if the Note has a dual-currency or index
     feature.

                                       6
<PAGE>

                 [FORM OF CERTIFICATE TO BE GIVEN BY AN ACCOUNT
         HOLDER OF THE EUROCLEAR OPERATOR AND CLEARSTREAM, LUXEMBOURG]

                                                            EXHIBIT B-1
                                                            -----------

                                  CERTIFICATE
                         ______________________________

                      General Electric Capital Corporation
                             Euro Medium-Term Notes
                  Represented by Temporary Global Note No. __.


     This is to certify that as of the date hereof, and except as set forth
below, the above-captioned Notes held by you for our account (i) are owned by
person(s) that are not citizens or residents of the United States, (ii) are not
a corporation or partnership (or any other entity treated as a corporation or
partnership for U.S. federal income tax purposes) created or organized in or
under the laws of the United States, any state thereof or the District of
Columbia (unless, in the case of a partnership, Treasury regulations provide
otherwise), (iii) are not an estate the income of which is subject to United
States federal income taxation regardless of its source, or (iv) are not a trust
in which a court within the United States is able to exercise primary
supervision over the administration of the trust and has a valid election in
effect under applicable U.S. Treasury regulations to be treated as a United
States person,  ("United States person(s)"), (v) are owned by United States
person(s) that (a) are foreign branches of United States financial institutions
(as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(iv)) ("financial
institutions") purchasing for their own account or for resale, or (b) acquired
the Notes through foreign branches of United States financial institutions and
who hold the Notes through such United States financial institutions on the date
hereof (and in either case (a) or (b), each such United States financial
institution hereby agrees, on its own behalf or through its agent, that you may
advise the Issuer or the Issuer's agent that it will comply with the
requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of
1986, as amended, and the regulations thereunder), or (iii) are owned by United
States or foreign financial institution(s) for purposes of resale during the
restricted period (as defined in U.S. Treasury Regulations Section 1.163-
5(c)(2)(i)(D)(7)), and in addition if the owner of the Notes is a United States
or foreign financial institution described in clause (iii) above (whether or not
also described in clause (i) or (ii)) such financial institution has not
acquired the Notes for purposes of resale directly or indirectly to a United
States person or to a person within the United States or its possessions.

     As used herein, "United States" means the United States of America
(including the States and the District of Columbia) and its "possessions"
including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake
Island and the Northern Mariana Islands.

     We undertake to advise you promptly by tested telex on or prior to the date
on which you intend to submit your certification relating to the Notes held by
you for our account in accordance with your Operating Procedures if any
applicable statement herein is not correct on such date, and in the absence of
any such notification it may be assumed that this certification applies as of
such date.
<PAGE>

                                                            EXHIBIT B-1
                                                            -----------
                                                                 Page 2



     This certification excepts and does not relate to [currency] [amount] of
such interest in the above Notes in respect of which we are not able to certify
and as to which we understand exchange and delivery of definitive Notes (or, if
relevant, exercise of any rights or collection of any interest) cannot be made
until we do so certify.

     We understand that this certification is required in connection with
certain tax laws and, if applicable, certain securities laws of the United
States.  In connection therewith, if administrative or legal proceedings are
commenced or threatened in connection with which this certification is or would
be relevant, we irrevocably authorize you to produce this certification to any
interested party in such proceedings.

Dated: _______________, 20__
[To be dated no earlier than the 10th day before
[insert date of Interest Payment Date prior to Exchange Date]
[insert date of redemption or acceleration prior to Exchange Date]
[insert Exchange Date]]

                              [Name of Account Holder]

                              By:__________________________________
                                 (Authorized Signatory)

                              Name:
                              Title:
<PAGE>

                       [FORM OF CERTIFICATE TO BE GIVEN BY
               THE EUROCLEAR OPERATOR AND CLEARSTREAM, LUXEMBOURG]

                                                            EXHIBIT B-2
                                                            -----------


                                  CERTIFICATE
                         ______________________________

                      General Electric Capital Corporation
                             Euro Medium-Term Notes
                 Represented by Temporary Global Note No. ____.


     This is to certify that, based solely on certifications we have received in
writing, by tested telex or by electronic transmission from member organizations
appearing in our records as persons being entitled to a portion of the principal
amount set forth below (our "Member Organizations") substantially to the effect
set forth in Exhibit B-1 to the Fiscal and Paying Agency Agreement, as of the
date hereof, [currency] [amount] in principal amount of the above-captioned
Notes (i) is owned by persons that are not citizens or residents of the United
States, (ii) are not a corporation or partnership (or any other entity treated
as a corporation or partnership for U.S. federal income tax purposes) created or
organized in or under the laws of the United States, any state thereof or the
District of Columbia (unless, in the case of a partnership, Treasury regulations
provide otherwise), (iii) are not an estate the income of which is subject to
United States federal income taxation regardless of its source, or (iv) are not
a trust in which a court within the United States is able to exercise primary
supervision over the administration of the trust and has a valid election in
effect under applicable U.S. Treasury regulations to be treated as a United
States person,  ("United States person(s)"), (v) is owned by United States
persons that (a) are foreign branches of United States financial institutions
(as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(iv) ("financial
institutions") purchasing for their own account or for resale, or (b) acquired
the Notes through foreign branches of United States financial institutions and
who hold the Notes through such United States financial institutions on the date
hereof (and in either case (a) or (b), each such United States financial
institution has agreed, on its own behalf or through its agent, that we may
advise the Issuer or the Issuer's agent that it will comply with the
requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of
1986, as amended, and the regulations thereunder), or (iii) is owned by United
States or foreign financial institutions for purposes of resale during the
restricted period (as defined in U.S. Treasury Regulations Section 1.163-
5(c)(2)(i)(D)(7), and to the further effect that United States or foreign
financial institutions described in clause (iii) above (whether or not also
described in clause (i) or (ii)) have certified that they have not acquired the
Notes for purposes of resale directly or indirectly to a United States person or
to a person within the United States or its possessions.

     As used herein, "United States" means the United States of America
(including the States and the District of Columbia) and its "possessions"
including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake
Island and the Northern Mariana Islands.
<PAGE>

                                                            EXHIBIT B-2
                                                                   ----
                                                                 Page 2



     We further certify (i) that we are not making available herewith for
exchange any portion of the temporary global Note excepted as set forth herein
and (ii) that as of the date hereof we have not received any notification from
any of our Member Organizations to the effect that the statements made by such
Member Organizations with respect to any portion of the part submitted herewith
are no longer true and cannot be relied upon as the date hereof.

     We understand that this certification is required in connection with
certain tax laws and, if applicable, certain securities laws of the United
States.  In connection therewith, if administrative or legal proceedings are
commenced or threatened in connection with which this certification is or would
be relevant, we irrevocably authorize you to produce this certification to any
interested party in such proceedings.

Dated: __________________, 20__
[To be dated no earlier than
[insert date of Interest Payment Date prior to Exchange Date]
[insert date of redemption or acceleration prior to Exchange Date]
[insert Exchange Date]]

                              [EUROCLEAR BANK, S.A./N.V.,
                                as Operator of the Euroclear System]

                              [CLEARSTREAM BANKING, SOCIETE ANONYME]
                              [OTHER CLEARANCE SYSTEM]


                             By:________________________________