Document:

exhibit4e3312008.htm

    Exhibit 4(e) 

     

    FORM OF EMTN TEMPORARY GLOBAL
FLOATING RATE BEARER NOTE 

     

    Temporary Global Floating Rate Bearer
Note 

     

    GENERAL ELECTRIC CAPITAL CORPORATION

     

     

     

    
      	
            	
            	
            
	BEARER	  	BEARER
	No. TGFL	  	[        ]1
	
            	  	[        ]2

    

    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/COMMON SAFE-KEEPER]3 TO A NOMINEE OF THE
[DEPOSITARY/COMMON SAFE-KEEPER] OR BY A NOMINEE OF THE [DEPOSITARY/COMMON
SAFE-KEEPER] TO THE [DEPOSITARY/COMMON SAFE-KEEPER] OR ANOTHER NOMINEE OF THE
[DEPOSITARY/COMMON SAFE-KEEPER] OR BY THE [DEPOSITARY/COMMON SAFE-KEEPER] OR ANY
SUCH NOMINEE TO A SUCCESSOR [DEPOSITARY/COMMON SAFE-KEEPER] OR A NOMINEE OF SUCH
SUCCESSOR [DEPOSITARY/COMMON SAFE-KEEPER]. 

     

     

     

    
    

     

    
      	
              1

               

            	
              Insert Principal Amount.
      

               

            

    

    
      	
              2

               

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

               

            

    

    
      	
              3

               

            	
              Common safe-keeper is only
      applicable where this Note indicates hereon that it is intended to be a
      New Global Note. 

               

            

    

    
    

     

    

    GENERAL ELECTRIC CAPITAL CORPORATION

     

    EURO MEDIUM-TERM NOTE

     

    (Floating Rate) 

     

    SERIES: 

     

     

     

    
      	
            	
            	
            	
            	
            	
            	
            
	
              ISIN:

               

               

               

              COMMON CODE:

               

               

               

              ORIGINAL ISSUE
      DATE:

               

               

               

              MATURITY DATE:

               

               

               

              PRINCIPAL AMOUNT IN SPECIFIED
      CURRENCY:

               

               

               

              INTEREST
      CALCULATION:

               

              [    ] Regular Floating Rate
      Note

               

              [    ] Inverse Floating Rate
      Note

               

              [    ] Other Floating Rate

               

               

               

              INTEREST RATE
      BASIS:

               

              [    ] CD Rate

               

              [    ] Commercial Paper Rate

               

              [    ] Eleventh District Cost of Funds
      Rate

               

              [    ] Federal Funds Rate

               

              [    ] LIBOR

               

              [    ] EURIBOR

               

              [    ] Treasury Rate

               

              [    ] Prime Rate

               

              [    ] Other

               

               

               

              SPREAD (PLUS OR
      MINUS):

               

               

               

              SPREAD
MULTIPLIER:

               

               

               

              INDEX MATURITY:

               

               

               

              NEW GLOBAL NOTE:

               

              [    ] Yes4

               

              [    ] No

               

               

               

              INTENDED TO BE HELD IN A
      MANNER WHICH WOULD ALLOW EUROSYSTEM ELIGIBILITY:

               

              [    ] Yes5

               

              [    ] Not Applicable

               

            	  	
              IF INTEREST RATE BASIS IS
      LIBOR, INDEX CURRENCY:

               

               

               

              DESIGNATED LIBOR
      PAGE:

               

              [    ]
      Reuters Page:                 

               

              [    ]
      Telerate Page:                 

               

               

               

              MAXIMUM INTEREST
      RATE:

               

               

               

              MINIMUM INTEREST
      RATE:

               

               

               

              INTEREST PAYMENT
      PERIOD:

               

               

               

              INTEREST PAYMENT
      DATE(S):

               

               

               

              INITIAL INTEREST
      RATE:

               

               

               

              INTEREST RESET
      PERIOD:

               

               

               

              INTEREST RESET
      DATES:

               

               

               

              INTEREST DETERMINATION
      DATE:

               

               

               

              REGULAR RECORD DATES (if
      any):

               

            	  	
              DAY COUNT
FRACTION

               

              [    ] Actual/3656

               

              [    ] Actual/Actual

               

              [    ] Actual/Actual (ISDA)

               

              [    ] Actual/365 (Fixed)

               

              [    ] Actual/365 (Sterling)

               

              [    ] Actual/3607

               

              [    ] 30/360

               

              [    ] 360/360

               

              [    ] Bond Basis

               

              [    ] 30E/360

               

              [    ] Eurobond Basis

               

              [    ] (Other)

               

               

               

              CALCULATION
AGENT:

               

               

               

              ISSUER OPTIONAL REDEMPTION
      DATE:

               

               

               

              NOTEHOLDER OPTIONAL REDEMPTION
      DATE:

               

               

               

              OPTIONAL
      REPAYMENT:

               

               

               

              FACE AMOUNT
      CURRENCY:

               

               

               

              OPTION VALUE CALCULATION
      AGENT:

               

               

               

              OPTIONAL PAYMENT
      CURRENCY:

               

               

               

              OPTION ELECTION
      DATES:

               

               

               

              DESIGNATED EXCHANGE
      RATE:

               

               

               

              CURRENCY BASE
      RATE:

               

            	  	
              DETERMINATION
      AGENT:

               

               

               

              INITIAL MATURITY
      DATE:

               

               

               

              ELECTION DATE

               

               

               

              FINAL MATURITY
      DATE:

               

               

               

              AVAILABILITY OF REGISTERED
      NOTES:

               

               

               

              IF THIS NOTE IS EXCHANGEABLE
      DIRECTLY FOR DEFINITIVE NOTES, INDICATE FORM(S) OF DEFINITIVE NOTES:
      

               

               

               

              DENOMINATIONS OF DEFINITIVE
      NOTES (if not as set forth herein):

               

               

               

              DENOMINATIONS:

               

               

               

              REDENOMINATION:

               

               

               

              LISTING:

               

               

               

              TAX REDEMPTION
      DATE:

               

               

               

              ADDENDUM
ATTACHED:

               

               

               

              OTHER PROVISIONS:

               

               

               

              RANKING:

               

              [    ] Senior

               

              [    ] Subordinated

               

            

    

     

     

    
    

     

    
      	
              4

               

            	
              Only applicable to euro
      denominated Notes intended to be held in a manner which would allow
      Eurosystem eligibility 

               

            

    

    
      	
              5

               

            	
              Only applicable if Note issued
      in New Global Note form 

               

            

    

     

     

    2 

     

    
    

     

    

    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, société
anonyme (“Clearstream, Luxembourg”, and, together with the Euroclear Operator
“the relevant Clearing Systems”), or any other recognized or agreed clearing
system (if indicated hereon that this Note is not intended to be a New Global
Note), 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), (a) if indicated hereon that this Note is not intended to be a
New Global Note, specified in Schedule A-1 hereto or, (b) if indicated
hereon that this Note is intended to be a New Global Note, entered in the
records of the relevant Clearing Systems, on the Maturity Date specified above
(except to the extent redeemed or repaid prior to the Maturity Date) or,
(a) if indicated hereon that this Note is not intended to be a New Global
Note, in accordance with the Amortization Schedule set out in Schedule A-2
hereto or (b) if indicated hereon that this Note is intended to be a New
Global Note, in accordance with the records of the relevant Clearing Systems 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 other redemption or repayment date
specified above). 

     

    If indicated hereon that this Note
is intended to be a New Global Note, the nominal amount of Notes represented by
this Note shall be the aggregate amount from time to time entered in the records
of the relevant Clearing Systems. The records of the relevant Clearing Systems
(which expression in this Note means the records that each relevant Clearing
System holds for its customers which reflect the amount of such customer’s
interest in the Notes) shall be conclusive evidence of the nominal amount of
Notes represented by this Note and, for these purposes, a statement issued by a
relevant Clearing System stating the nominal amount of Notes represented by this
Note at any time shall be conclusive evidence of the records of the relevant
Clearing System at that time. 

     

    Payments due in respect of Notes for
the time being represented by this Note shall be made to the bearer of this Note
and each payment so made will discharge the Company’s obligations in respect
thereof. Any failure to make the entries referred to above shall not affect such
discharge. 

     

    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
(a) if indicated hereon that this Note is not intended to be a New Global
Note, cause Schedule A-1 of this Note to be endorsed or (b) if indicated
hereon that this Note is intended to be a New Global Note promptly provide
details to the relevant Clearing Systems in order for the records of the
relevant Clearing Systems to be updated and remain at all times accurate, in
each case 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 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. Prior to the Exchange Date, payments of interest, if any, on this Note
will be made only to the extent of, and upon, Certification. After the Exchange
Date, the holder of this Note will not be entitled to receive any payment of
principal or interest hereon. 

     

    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 an eighth amended and restated fiscal
and paying agency agreement, dated as of May 12, 2006, among General
Electric Capital Corporation, GE Capital Australia Funding Pty. Ltd., GE Capital
Canada Funding Company, GE Capital European Funding, GE Capital UK Funding and
JPMorgan Chase Bank, N.A., as fiscal agent and as principal paying agent (in
such capacities, the “Fiscal and Paying Agent”) and J.P. Morgan 

     

     

     

    
    

     

    
      	
              6

               

            	
              Floating Rate Notes
      denominated in any Specified Currency other than U.S. Dollars or Sterling
      

               

            

    

    
      	
              7

               

            	
              Floating Rate U.S. Dollar
      denominated Notes 

               

            

    

     

     

    3 

     

    
    

     

    

    Bank Luxembourg S.A., as initial
registrar and transfer 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”). Definitive Bearer Notes, with interest coupons attached,
are issuable in such denominations of the Specified Currency as are indicated on
the face hereof and definitive Registered Notes (if any) are issuable in such
denominations of the Specified Currency as are indicated on the face hereof.

     

    Except as otherwise provided herein,
this Note is governed by the terms and conditions of the Permanent Global
Floating Rate Bearer Note (the “Permanent Global Floating Rate Bearer Note”) (or
if so specified above, the definitive Floating Rate Bearer Notes or definitive
Floating 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) either, if indicated hereon that this
Note is intended to be a New Global Note, interests recorded in the records of
the relevant Clearing Systems in a single Permanent Global Floating Rate Bearer
Note (equal to the principal amount of the Bearer Notes being exchanged
theretofore represented by this Note) or, if indicated hereon that this Note is
not intended to be a New Global Note, an interest (equal to the principal amount
of the Bearer Notes being exchanged theretofore represented by this Note) in a
single Permanent Global Floating Rate Bearer Note or (ii) if so specified
above, an equal principal amount of definitive Floating Rate Bearer Notes and/or
definitive Floating 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 Floating Rate Bearer Note (or definitive Floating Rate
Bearer Notes and/or definitive Floating Rate Registered Notes), the Fiscal and
Paying Agent shall (a) if indicated hereon that this Note is not intended
to be a New Global Note, cause Schedule A-1 of this Note to be endorsed or
(b) if indicated hereon that this Note is intended to be a New Global Note,
promptly provide details to the relevant Clearing Systems in order for the
records of the relevant Clearing Systems to be updated, in each case 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 Floating Rate Bearer Note (or definitive
Floating Rate Bearer Notes and/or definitive Floating 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, and, if indicated hereon that this Note is intended to be held in a
manner which would allow Eurosystem eligibility, effectuated by the entity
appointed as common safe-keeper by the relevant Clearing Systems, this Note
shall not be entitled to any benefit under the Fiscal Agency Agreement or be
valid or obligatory for any purpose. 

     

    As used herein: 

     

    (a) “Actual/Actual” or “Actual/Actual (ISDA)” means
the actual number of days in the Interest Reset Period divided by 365 (or, if
any proportion of that Interest Reset Period falls in a leap year, the sum of
(A) the actual number of days in that portion of the Interest Reset Period
falling in a leap year divided by 366 and (B) the actual number of days in
that portion of the Interest Reset Period falling in a non-leap year divided by
365); 

     

     

     

    4 

     

    
    

     

    

    (b) “Actual/365 (Fixed)” means the
actual number of days in the Interest Reset Period divided by 365; 

     

    (c) “Actual/360” means the actual
number of days in the Interest Reset Period divided by 360; 

     

    (d) “30/360”, “360/360” or “Bond Basis” means the number
of days in the Interest Reset Period divided by 360, calculated on a formula
basis as follows: 

     

    Day Count Fraction = [360 x (Y2 – Y1)] + [30 x
(M2 – M1)] + (D2 – D1) 

     

                                        360

     

    where: 

     

    “Y1” is the year, expressed as a
number, in which the first day of the Interest Reset Period falls; 

     

    “Y2” is the year, expressed as a
number, in which the day immediately following the last day of the Interest
Reset Period falls; 

     

    “M1” is the calendar month, expressed
as a number, in which the first day of the Interest Reset Period falls;

     

    “M2” is the calendar month, expressed
as a number, in which the day immediately following the last day of the Interest
Reset Period falls; 

     

    “D1” is the first calendar day,
expressed as a number, of the Interest Reset Period, unless such number is 31,
in which case D1 will be 30; and 

     

    “D2” is the calendar day, expressed as
a number, immediately following the last day included in the Interest Reset
Period, unless such number would be 31 and D1 is greater than 29, in which case
D2 will be 30; 

     

    (e) “30E/360” or “Eurobond Basis” means the
number of days in the Interest Reset Period divided by 360, calculated on a
formula basis as follows: 

     

    Day Count Fraction = [360 x (Y2 – Y1)] + [30 x
(M2 – M1)] + (D2 – D1) 

     

                                    360

     

    where: 

     

    “Y1” is the year, expressed as a
number, in which the first day of the Interest Reset Period falls; 

     

    “Y2” is the year, expressed as a
number, in which the day immediately following the last day of the Interest
Reset Period falls; 

     

    “M1” is the calendar month,
expressed as a number, in which the first day of the Interest Reset Period
falls; 

     

    “M2” is the calendar month,
expressed as a number, in which the day immediately following the last day of
the Interest Reset Period falls; 

     

    “D1” is the first calendar day,
expressed as a number, of the Interest Reset Period, unless such number would be
31, in which case D1 will be 30; and 

     

    “D2” is the calendar day, expressed
as a number, immediately following the last day included in the Interest Reset
Period, unless such number would be 31, in which case D2 will be 30; and

     

    (f) “30E/360 (ISDA)” means the
Final Terms, the number of days in the Interest Reset Period divided by 360,
calculated on a formula basis as follows: 

     

    Day Count Fraction = [360 x (Y2 – Y1)] + [30 x
(M2 – M1)] + (D2 – D1) 

     

                                        360

     

     

     

    5 

     

    
    

     

    

    where: 

     

    “Y1” is the year, expressed as a
number, in which the first day of the Interest Reset Period falls; 

     

    “Y2” is the year, expressed as a
number, in which the day immediately following the last day of the Interest
Reset Period falls; 

     

    “M1” is the calendar month,
expressed as a number, in which the first day of the Interest Reset Period
falls; 

     

    “M2” is the calendar month,
expressed as a number, in which the day immediately following the last day of
the Interest Reset Period falls; 

     

    “D1” is the first calendar day,
expressed as a number, of the Interest Reset Period, unless (i) that day is
the last day of February or (ii) such number would be 31, in which case D1
will be 30; and 

     

    “D2” is the calendar day, expressed
as a number, immediately following the last day included in the Interest Reset
Period, unless (i) that day is the last day of February but not the
Maturity Date or (ii) such number would be 31, in which case D2 will be 30.

     

    (g) the term “Business Day” means, unless
otherwise specified in the applicable Final Terms or Securities Note (as the
case may be), any day other than a Saturday or Sunday or any other day on which
banking institutions are generally authorized or obligated by law or regulation
to close in each of (i) the principal financial center of the country in
which the Company is incorporated; (ii) the principal financial center of
the country of the currency in which the Notes are denominated;
(iii) London, England; (iv) The City of New York and (v) any
Additional Business Centre specified in the applicable Final Terms or Securities
Note (as the case may be); provided, however, that with respect to Notes
denominated in euro, such day is a TARGET Settlement Date. For purposes of this
definition, the principal financial center of the United States is New York and
the principal financial center of Australia is Sydney; 

     

    (h) 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; 

     

    (i) 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; 

     

    (j) 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 Dealers, 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; 

     

    (k) 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;

     

    (l) the term “United States person” means
(i) a citizen or resident of the United States, (ii) a corporation,
partnership or other entity created or organized in or under the laws of the
United States or any political subdivision thereof, (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 

     

     

     

    6 

     

    
    

     

    

    (m) 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.

     

     

     

    7 

     

    
    

     

    

    IN WITNESS WHEREOF, the
Company has caused this Note to be duly executed. 

     

     

     

    
      	
            	
            	
            	
            	
            
	DATED:	 	GENERAL ELECTRIC
      CAPITAL CORPORATION
	
            	
            	
            
	[SEAL]	 	By:	 	
              /s/ Kathryn A.
      Cassidy

               

            
	
            	 	Name:	 	Kathryn A. Cassidy
	
            	 	Title:	 	Senior
      Vice President – Corporate Treasury and
	
            	 	
            	 	Global
      Funding Operation

    

    Attest: 

     

     

     

    
      	
            	
            	
            
	By:	 	
              /s/ Craig T.
      Beazer

               

            
	Title:	 	Authorized Signatory

    

    CERTIFICATE OF AUTHENTICATION

     

    This is one of the Notes referred

     

    to in the within-mentioned Fiscal
Agency Agreement. 

     

     

     

    
      	
            	
            	
            
	
              THE BANK OF NEW
      YORK

               

                          as
      Fiscal and Paying Agent

               

            
	
            	
            
	By:	 	
               

               

            
	
            	 	Authorized Officer

    

    [Effectuated without recourse,
warranty or liability by 

     

    As common safe-keeper]8 

     

     

     

    
    

     

    
      	
              8

               

            	
              Applicable only for a series
      of Notes issued and indicated hereon that it is issued as a New Global
      Note. 

               

            

    

     

     

    8 

     

    
    

     

    

    SCHEDULE A-1

     

    SCHEDULE OF
EXCHANGES9 

     

    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 Floating Rate Bearer Note (or if so
specified above, for definitive Notes) have been made: 

     

     

     

    
      	
            	
            	
            	
            	
            	
            	
            	
            	
            
	Date of Exchange or
Interest
      Payment	 	Payment of Interest	 	Principal (Face)10
Amount Exchanged
for Permanent Global
Bearer
      Notes or
Definitive Notes	 	Remaining Principal
(Face)10Amount
Outstanding Following
Such
      Exchange	 	Notation made by or
on behalf of Fiscal and
Paying
      Agent

    

     

     

     

     

    
    

     

    
      	
              9

               

            	
              Schedule A-1 should only be
      completed where this Note indicates hereon that it is not intended to be a
      New Global Note. 

               

            

    

    
      	
              10

               

            	
              To be used instead of
      “Principal” if the Note has a dual-currency or index feature.

               

            

    

    
    

     

    

    SCHEDULE A-2

     

    AMORTIZATION
SCHEDULE11 

     

    [INSERT IF APPLICABLE] /
[NOT APPLICABLE] 

     

     

     

    
    

     

    
      	
              11

               

            	
              Schedule A-2 should only be
      completed where this Note indicates hereon that it is not intended to be a
      New Global Note. 

               

            

    

    
    

     

    

    [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, corporations, partnerships or other entities
created or organized in or under the laws of the United States or any political
subdivision thereof, estates whose income is subject to United States federal
income taxation regardless of its source, or a trust in which a court within 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, (“United States person(s)”), (ii) 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. 

     

    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. 

     

    
    

     

    

    EXHIBIT B-1

     

    Page 2 

     

    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:	 	
            

    

    
    

     

    

    [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] principal
amount of the above-captioned Notes (i) is owned by persons that are not
citizens or residents of the United States, corporations, partnerships or other
entities created or organized in or under the laws of the United States or any
political subdivision thereof, estates whose income is subject to United States
federal income taxation regardless of its source, or a trust in which a court
within 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 (“United States person(s)”), (ii) 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.

     

    We further certify (i) that we
are not making available herewith for exchange (or, if relevant, exercise of any
rights or collection of any interest) 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 for exchange (or, if relevant, exercise
of any rights or collection of any interest) are no longer true and cannot be
relied upon as of the date hereof. 

     

    
    

     

    

    EXHIBIT B-2

     

    Page 2 

     

    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, SOCIÉTÉ ANONYME]
	
            
	[OTHER CLEARANCE
      SYSTEM]
	
            	
            
	By:exhibit4f3312008.htm

    Exhibit 4(f) 

     

    FORM OF DEFINITIVE FIXED RATE BEARER
NOTE 

     

    GENERAL ELECTRIC CAPITAL CORPORATION

     

     

     

    
      	
            	
            	
            
	
              BEARER

               

            	  	BEARER
	
              No. DBFX

               

            	  	[                    ]1
	
            	  	[                    ]2

    

    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. 

     

     

     

    
    

     

    
      	
              1

               

            	
              Insert Principal Amount.
      

               

            

    

    
      	
              2

               

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

               

            

    

    
    

     

    

    GENERAL ELECTRIC CAPITAL CORPORATION

     

    EURO MEDIUM-TERM NOTE

     

    (Fixed Rate) 

     

    SERIES: 

     

     

     

    
      	
            	
            	
            	
            	
            	
            	
            
	
              ISIN:

               

               

               

              COMMON

               

              CODE:

               

               

               

              ORIGINAL ISSUE
      DATE:

               

               

               

              MATURITY DATE:

               

               

               

              PRINCIPAL AMOUNT IN SPECIFIED
      CURRENCY: 

               

               

               

              INTEREST RATE:

               

               

               

              INTEREST PAYMENT
      PERIOD:

               

               

               

              FIXED INTEREST PAYMENT
      DATE(S):

               

            	  	
              DETERMINATION
      DATES:3

               

               

               

              INTEREST COMMENCEMENT
      DATE:4

               

               

               

              ISSUER OPTIONAL REDEMPTION
      DATE:

               

               

               

              NOTEHOLDER OPTIONAL REDEMPTION
      DATE:

               

               

               

              OPTIONAL
      REPAYMENT:

               

               

               

              OPTIONAL REPAYMENT
      DATE(S):

               

               

               

              SPECIFIED (FACE AMOUNT)
      CURRENCY:

               

            	  	
              OPTION VALUE CALCULATION
      AGENT:

               

               

               

              OPTIONAL PAYMENT
      CURRENCY:

               

               

               

              OPTION ELECTION
      DATES:

               

               

               

              DESIGNATED EXCHANGE
      RATE:

               

               

               

              CURRENCY BASE
      RATE:

               

               

               

              DETERMINATION
      AGENT:

               

               

               

              INITIAL MATURITY
      DATE:

               

               

               

              ELECTION DATE

               

            	  	
              FINAL MATURITY
      DATE:

               

               

               

              AVAILABILITY OF REGISTERED
      NOTES:

               

               

               

              DENOMINATIONS OF DEFINITIVE
      NOTES (if not as set forth herein):

               

               

               

              REDENOMINATION:

               

               

               

              DAY COUNT
      FRACTION:

               

              [    ] 30/3605

               

              [    ] Actual/Actual (ICMA)6

               

              [    ] (Other)

               

               

               

              LISTING:

               

               

               

              TAX REDEMPTION
      DATE:

               

               

               

              RANKING:

               

              [    ] Senior

               

              [    ] Subordinated

               

            

    

    General Electric Capital Corporation
(together with its successors and assigns, the “Company”), for value received,
hereby promises to pay to the holder hereof upon surrender hereof, the principal
sum (or Face Amount, if the Note has a dual-currency or index feature) specified
above on the Maturity Date specified above (except to the extent redeemed or
repaid prior to the Maturity Date) or in accordance with the Amortization
Schedule set out in Schedule A hereto and to pay interest thereon to the bearer
of the coupons, if any, attached hereto (the “Coupons”) at the Interest Rate per
annum specified above from the last date on which interest was paid on the
predecessor global Note, or if no such interest was paid, then from the Original
Issue Date of the predecessor global Note, 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 Fixed Interest Payment Date (as specified above), commencing with
the first Fixed Interest Payment Date next succeeding the Original Issue Date
specified above, and on the Maturity Date (or any other redemption or repayment
date specified above). 

     

    Payment of the principal of this
Note and any premium due at the Maturity Date (or any other redemption or
repayment date) will be made in immediately available funds upon surrender of
this Note at the office or agency of the Fiscal and Paying Agent or at the
office or agency of such other paying agents outside the United States (this and
certain other capitalized terms used herein are defined on the reverse of this
Note) as the Company may determine maintained for that purpose (a “Paying
Agent”). 

     

     

     

    
    

     

    
      	
              3

               

            	
              Only applicable if fixed Day
      Count Fraction is Act/Act (ICMA) 

               

            

    

    
      	
              4

               

            	
              Only applicable if fixed Day
      Count Fraction is Act/Act (ICMA) 

               

            

    

    
      	
              5

               

            	
              Fixed Rate U.S. Dollar
      denominated Notes 

               

            

    

    
      	
              6

               

            	
              Fixed Rate Notes in all
      currencies other than U.S. Dollars 

               

            

    

     

     

    2 

     

    
    

     

    

    Interest on this Note will accrue
from the most recent Fixed Interest Payment Date to which interest hereon or on
the predecessor global Note has been paid or duly provided for, or, if no
interest has been paid or duly provided for, from the Original Issue Date of the
predecessor global Note, until the principal hereof has been paid or duly made
available for payment (except as provided below). The interest so payable, and
punctually paid or duly provided for, on any Fixed Interest Payment Date, will,
subject to certain exceptions described herein, be paid to the holder of the
appropriate Coupon upon presentment and surrender thereof at the office or
agency of the Fiscal and Paying Agent or at the office of any Paying Agent.

     

    If the Specified Currency is other
than U.S. dollars, then, except as provided on the reverse hereof, payment of
the principal of and premium, if any, and interest on this Note will be made in
such Specified Currency either by a check drawn on a bank in London, Luxembourg
or a city in the country of such Specified Currency or by wire transfer of
immediately available funds to an account maintained by the holder of this Note
with a bank located outside the United States if appropriate wire transfer
instructions in writing have been received by the Fiscal and Paying Agent or any
Paying Agent not less than 10 days prior to the applicable Fixed Interest
Payment Date. 

     

    If the Specified Currency indicated
on the face hereof is U.S. dollars, any payment of the principal of and premium,
if any, and interest on this Note will be made, subject to applicable laws and
regulations, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts either
by a check drawn on a bank in The City of New York mailed to an address outside
the United States furnished by the holder or by wire transfer of immediately
available funds to an account maintained by the holder of this Note with a bank
located outside the United States if appropriate wire transfer instructions have
been received by the Fiscal and Paying Agent or any Paying Agent not less than
10 days prior to the applicable payment date. Notwithstanding the foregoing, in
the event that payment in U.S. dollars of the full amount payable on this Note
at the offices of all Paying Agents 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 the principal
amount set forth on the face hereof, but the total aggregate principal amount of
the Series to which this Note belongs is unlimited. The Company has the right,
without the consent of the holder of any Note or coupon appertaining thereto, to
issue additional Notes which form part of the Series to which this Note belongs.

     

    Reference is hereby made to the
further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this
place. 

     

    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, as defined on the reverse hereof, or be valid or obligatory
for any purpose. 

     

     

     

    3 

     

    
    

     

    

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

     

     

     

    
      	
            	
            	
            	
            	
            
	
              DATED:

               

            	 	GENERAL ELECTRIC
      CAPITAL CORPORATION
	
            	
            	
            
	
              [SEAL]

               

            	 	By:	 	
              /s/ Kathryn A.
      Cassidy

               

            
	
            	 	
              Name:

               

            	 	Kathryn A. Cassidy
	
            	 	
              Title:

               

            	 	Senior
      Vice President – Corporate Treasury and
	
            	 	
            	 	Global
      Funding Operation

    

    Attest: 

     

     

     

    
      	
            	
            	
            
	By:	 	
              /s/ Craig T.
      Beazer

               

            
	Title:	 	Vice
      President, General Counsel
	
            	 	&
      Secretary

    

    CERTIFICATE OF AUTHENTICATION

     

    This is one of the Notes referred to

     

    in the within-mentioned Fiscal
Agency Agreement. 

     

    THE BANK OF NEW YORK

     

    as Fiscal and Paying Agent

     

     

     

    
      	
            	
            	
            
	By:	 	
               

               

            
	
            	 	Authorized Officer

    

     

     

    4 

     

    
    

     

    

    [Form of Reverse of Note]

     

    This Note is one of a duly
authorized issue of Euro Medium-Term Notes of the Series specified on the face
hereof, having maturities of nine months or more from the date of issue (the
“Notes”) of the Company. The Notes are issuable under an eighth amended and
restated fiscal and paying agency agreement, dated as of May 12, 2006,
among the Company, GE Capital Australia Funding Pty. Ltd., GE Capital Canada
Funding Company, GE Capital European Funding, GE Capital UK Funding and The Bank
of New York (successor to JPMorgan Chase Bank, N.A.), as fiscal agent and as
principal paying agent (in such capacities, the “Fiscal and Paying Agent”) and
The Bank of New York (Luxembourg) S.A. (successor to J.P. Morgan Bank Luxembourg
S.A.), as initial registrar and transfer agent (as amended and supplemented from
time to time, the “Fiscal Agency Agreement”), to which Fiscal Agency Agreement
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities of the Company and holders of the Notes and the
terms upon which the Notes are, and are to be, authenticated and delivered. The
Bank of New York (successor to JPMorgan Chase Bank, N.A.) at its office in
London has been appointed the Exchange Rate Agent (the “Exchange Rate Agent”,
which terms include any successor exchange rate agent) with respect to the
Notes. The terms of individual Notes may vary with respect to interest rates,
interest rate formulas, issue dates, maturity dates, or otherwise, all as
provided in the Fiscal Agency Agreement. To the extent not inconsistent
herewith, the terms of the Fiscal Agency Agreement are hereby incorporated by
reference herein. 

     

    This Note will not be subject to any
sinking fund and will not be redeemable or subject to repayment at the option of
the holder prior to maturity, except as provided below. 

     

    Unless otherwise indicated on the
face of this Note, this Note shall not be subject to repayment at the option of
the holder prior to the Maturity Date. If so indicated on the face of this Note,
this Note may be subject to repayment at the option of the holder on the
Optional Repayment Date or Dates specified on the face hereof on the terms set
forth herein. On any Optional Repayment Date, this Note will be repayable in
whole or in part in increments of 1,000 units of the Specified Currency
indicated on the face hereof (provided that any remaining principal amount
hereof shall not be less than the minimum authorized denomination hereof) at the
option of the holder hereof at a price equal to 100% of the principal amount to
be repaid, together with interest hereon payable to, but not including, the
relevant Noteholder Optional Redemption Date. For this Note to be repaid in
whole or in part at the option of the holder hereof, the Company must receive at
the corporate trust office of the Fiscal and Paying Agent in the City of London,
at least 30 days but not more than 60 days prior to the repayment, (i) this
Note with the form entitled “Option to Elect Repayment” on the reverse hereof
duly completed or (ii) a telegram, facsimile transmission or a letter from
a commercial bank or trust company in Western Europe which must set forth the
principal amount of this Note, the principal amount of this Note to be repaid,
the certificate number or a description of the tenor and terms of this Note, a
statement that the option to elect repayment is being exercised thereby and a
guarantee that this Note to be repaid, together with the duly completed form
entitled “Option to Elect Repayment” on the reverse hereof, will be received by
the Fiscal and Paying Agent not later than the fifth Business Day after the date
of such telegram, facsimile transmission or letter; provided, however, that such
telegram, facsimile transmission or letter from a commercial bank or trust
company in Western Europe shall only be effective if in such case, this Note and
form duly completed are received by the Fiscal and Paying Agent by such fifth
Business Day. Exercise of such repayment option by the holder hereof shall be
irrevocable. In the event of repayment of this Note in part only, a new Note or
Notes for the amount of the unpaid portion hereof shall be issued in the name of
the holder hereof upon cancellation hereof, but only in an authorized
denomination. 

     

    Interest payments on this Note will
include interest accrued to but excluding the Fixed Interest Payment Dates or
the Maturity Date (or earlier redemption or repayment date), as the case may be.
Interest payments for this Note, unless otherwise specified on the face hereof,
will be computed and paid on the following basis: 

     

     

     

    
      	 	•	 	
              In the
      case of Notes denominated in U.S. Dollars “30/360” means interest will be
      computed and paid on the basis of the number of days in the Calculation
      Period divided by 360 (the number of days to be calculated on the basis of
      a 360-day year of twelve 30-day months) (“30/360”). 

               

            

    

     

     

    
      	 	•	 	
              In the
      case of Notes denominated in a currency other than U.S. Dollars
      “Actual/Actual (ICMA)” means interest will be computed and paid on the
      following basis : 

               

            

    

     

     

    5 

     

    
    

     

    

    (a) in the case of Notes where the
number of days in the relevant period from (and including) the most recent Fixed
Interest Payment Date (or, if none, the Interest Commencement Date) to (but
excluding) the relevant payment date (the “Calculation Period”) is equal
to or shorter than the Determination Period (as defined below) during which the
Calculation Period ends, the number of days in such Calculation Period divided
by the product of (1) the number of days in such Determination Period and
(2) the number of determination dates (each, a “Determination Date”) that
would occur in one calendar year, assuming interest was to be payable in respect
of the whole of that year; or 

     

    (b) in the case of Notes where the
Calculation Period is longer than the Determination Period during which the
Calculation Period ends, the sum of: 

     

    (i) the number of days in such
Calculation Period falling in the Determination Period in which the Calculation
Period begins divided by the product of (x) the number of days in such
Determination Period and (y) the number of Determination Dates (as
specified in the applicable Final Terms or Securities Note (as the case may be))
that would occur in one calendar year, assuming interest was to be payable in
respect of the whole of that year; and 

     

    (ii) the number of days in such
Calculation Period falling in the next Determination Period divided by the
product of (x) the number of days in such Determination Period and
(y) the number of Determination Dates that would occur in one calendar
year, assuming interest was to be payable in respect of the whole of that year;

     

    “Determination Period” means
the period from (and including) a Determination Date to (but excluding) the next
Determination Date (including, where either the Interest Commencement Date or
the final Fixed Interest Payment Date is not a Determination Date, the period
commencing on the first Determination Date prior to, and ending on the first
Determination Date falling after, such date). 

     

    In the case where the Fixed Interest
Payment Date or the Maturity Date (or any other redemption or repayment date)
does not fall on a Business Day, payment of interest, premium, if any, or
principal otherwise payable on such date need not be made on such date, but may
be made on the next succeeding Business Day with the same force and effect as if
made on the Fixed Interest Payment Date or on the Maturity Date (or any other
redemption or repayment date), and no interest shall accrue for the period from
and after the Fixed Interest Payment Date or the Maturity Date (or any other
redemption or repayment date) to such next succeeding Business Day.

     

    [This Note is unsecured and ranks
pari passu with
all other unsecured and unsubordinated indebtedness of the Company/This Note is
a subordinate Note and [insert
applicable subordination provisions.]]7 

     

    This Note has been issued in bearer
form (a “Bearer Note”), with Coupons, if any, and any Note or Notes issued upon
transfer or exchange hereof is issuable as a Bearer Note, with Coupons, if any,
attached, in such denominations of the Specified Currency as are indicated on
the face hereof or (if so specified on the face hereof) as a Note in fully
registered form, without coupons (a “Registered Note”), in such denominations of
the Specified Currency as are indicated on the face hereof. 

     

    This Note may be transferred by
delivery. If so specified on the face hereof, then, at the option of the holder
of this Note, and subject to the terms of the Fiscal Agency Agreement, this Note
(with all unmatured Coupons, and all matured Coupons in default) will be
exchangeable at the option of the holder hereof into Registered Notes of any
authorized denominations of like tenor and in an equal aggregate principal
amount, in accordance with the provisions of the Fiscal Agency Agreement, at the
corporate trust office of The Bank of New York (successor to JPMorgan Chase
Bank, N.A.) which initially has been appointed registrar for the Registered
Notes or at the office of any transfer agent appointed by the Company for such
purpose. If this Note is surrendered in exchange for Registered Notes after the
close of business at any such office on (i) any record date for the payment
of interest (a “Regular Record Date”) on a Registered Note on a Fixed Interest
Payment Date and before the opening of business at such office on the relevant

     

     

     

    
    

     

    
      	
              7

               

            	
              Insert as applicable as set
      out in the applicable Final Terms or Securities Note (as the case may be).
      

               

            

    

     

     

    6 

     

    
    

     

    

    Fixed Interest Payment Date, or
(ii) any record date to be established for the payment of defaulted
interest on a Registered Note (a “Special Record Date”) and before the opening
of business at such office on the related proposed date for payment of defaulted
interest, this Note shall be surrendered without the Coupon relating to such
date for payment of interest. This Note may also be exchanged for other
definitive Bearer Notes with Coupons, if any, in other authorized denominations,
in an equal aggregate principal amount, in accordance with the provisions of the
Fiscal Agency Agreement, at the offices of the Fiscal and Paying Agent or at the
office of any transfer agent designated by the Company for such purpose. All
such exchanges of Notes and Coupons will be made free of charge, but the Company
may require payment of a sum sufficient to cover any tax or other governmental
charge in connection therewith. The date of surrender of any Note or Coupon
delivered upon any exchange or transfer of Notes or Coupons shall be such that
no gain or loss of interest results from such exchange or transfer.

     

    If this Note is to be redeemed, the
Company shall not be required to issue or exchange this Note for a period of 15
days preceding the date fixed for redemption. 

     

    In case any Note shall at any time
become mutilated, destroyed, lost or stolen, or is apparently destroyed, lost or
stolen, and such Note or evidence of the loss, theft or destruction thereof
(together with the indemnity hereinafter referred to and such other documents or
proof as may be required in the premises) shall be delivered to the Fiscal and
Paying Agent, a new Note of like tenor will be issued by the Company in exchange
for the Note so mutilated or defaced, or in lieu of the Note so destroyed or
lost or stolen, but, in the case of any destroyed or lost or stolen Note only
upon receipt of evidence satisfactory to the Fiscal and Paying Agent and the
Company that such Note was destroyed or lost or stolen and, if required, upon
receipt also of an indemnity satisfactory to each of them. All expenses and
reasonable charges associated with procuring such indemnity and with the
preparation, authentication and delivery of a new Note shall be borne by the
owner of the Note mutilated, defaced, destroyed, lost or stolen. 

     

    The Fiscal Agency Agreement provides
that if an Event of Default (as defined in the Fiscal Agency Agreement) with
respect to the Series of which this Note forms a part, shall have occurred and
be continuing, the holder hereof, by notice in writing to the Company and to the
Fiscal and Paying Agent, may declare the principal of this Note and the interest
accrued hereon to be due and payable immediately. 

     

    Notes of the Series of which this
Note forms a part may be redeemed, at the option of the Company, as a whole but
not in part, at any time prior to maturity, upon the giving of a notice of
redemption as described below, at a redemption price equal to 100% of the
principal amount thereof, together with accrued interest to the date fixed for
redemption, or, in the case of Original Issue Discount Notes, at 100% of the
portion of the face amount thereof that has accrued to the date of redemption,
if the Company determines that, as a result of any change in or amendment to the
laws (or any regulations or rulings promulgated thereunder) of the United States
or of any political subdivision or taxing authority thereof or therein affecting
taxation, or any change in official position regarding the application or
interpretation of such laws, regulations or rulings, which change or amendment
becomes effective on or after the Tax Redemption Date specified on the face
hereof, the Company has or will become obligated to pay Additional Amounts (as
defined below) with respect to the Notes as described below. Prior to the giving
of any notice of redemption pursuant to this paragraph, the Company shall
deliver to the Fiscal and Paying Agent (i) a certificate stating that the
Company is entitled to effect such redemption and setting forth a statement of
facts showing that the conditions precedent to the right of the Company to so
redeem have occurred, and (ii) an opinion of counsel satisfactory to the
Fiscal and Paying Agent to such effect based on such statement of facts;
provided that no such notice of redemption shall be given earlier than 90 days
prior to the earliest date on which the Company would be obligated to pay such
Additional Amounts if a payment in respect of the Notes were then due.

     

    Notice of redemption will be given
not less than 30 nor more than 60 days prior to the date fixed for redemption,
which date and the applicable redemption price will be specified in the notice.
Such notice will be given in accordance with “Notices” as defined below.

     

    If the Company shall determine that
any payment made outside the United States by the Company or any Paying Agent of
principal or interest [, including original issue discount,]8 due in respect of any Bearer Notes
of the 

     

     

     

    
    

     

    
      	
              8

               

            	
              Include if Notes are original
      issue discount Notes. 

               

            

    

     

     

    7 

     

    
    

     

    

    Series of which this Note forms a
part would, under any present or future laws or regulations of the United
States, be subject to any certification, identification or other information
reporting requirement of any kind, the effect of which requirement is the
disclosure to the Company, any Paying Agent or any governmental authority of the
nationality, residence or identity of a beneficial owner of such Bearer Note or
interest coupon who is a United States Alien (other than such a requirement
(a) which would not be applicable to a payment made by the Company or any
one of its Paying Agents (i) directly to the beneficial owner or
(ii) to a custodian, nominee or other agent of the beneficial owner, or
(b) which can be satisfied by such custodian, nominee or other agent
certifying to the effect that such beneficial owner is a United States Alien,
provided that in each case referred to in clauses (a)(ii) and (b) payment
by such custodian, nominee or agent to such beneficial owner is not otherwise
subject to any such requirement), the Company shall redeem the Bearer Notes, in
whole, at a redemption price equal to 100% of the principal amount thereof,
together with accrued interest to the date fixed for redemption (or, in the case
of original issue discount Notes, at 100% of the portion of the face amount
thereof that has accrued to the date of redemption) or, at the election of the
Company if the conditions of the next succeeding paragraph are satisfied, pay
the additional amounts specified in such paragraph. The Company shall make such
determination and election as soon as practicable and publish prompt notice
thereof (the “Determination Notice”) stating the effective date of such
certification, identification or other information reporting requirements,
whether the Company will redeem the Bearer Notes of such Series, or whether the
Company has elected to pay the Additional Amounts specified in the next
succeeding paragraph, and (if applicable) the last date by which the redemption
of the Bearer Notes must take place, as provided in the next succeeding
sentence. If the Company redeems the Bearer Notes, such redemption shall take
place on such date, not later than one year after the publication of the
Determination Notice, as the Company shall elect by notice to the Fiscal and
Paying Agent at least 60 days prior to the date fixed for redemption. Notice of
such redemption of the Bearer Notes will be given to the holders of the Bearer
Notes not more than 60 nor less than 30 days prior to the date fixed for
redemption. Such redemption notice shall include a statement as to the last date
by which the Bearer Notes to be redeemed may be exchanged for Registered Notes.
Notwithstanding the foregoing, the Company shall not so redeem the Bearer Notes
if the Company shall subsequently determine, not less than 30 days prior to the
date fixed for redemption, that subsequent payments would not be subject to any
such requirement, in which case the Company shall publish prompt notice of such
determination and any earlier redemption notice shall be revoked and of no
further effect. The right of any of the holders of Bearer Notes called for
redemption pursuant to this paragraph to exchange such Bearer Notes for
Registered Notes will terminate at the close of business of the Fiscal and
Paying Agent on the fifteenth day prior to the date fixed for redemption, and no
further exchanges of such Series of Bearer Notes for Registered Notes shall be
permitted. 

     

    If and so long as the certification,
identification or other information reporting requirements referred to in the
preceding paragraph would be fully satisfied by payment of a backup withholding
tax or similar charge, the Company may elect to pay as Additional Amounts such
amounts as may be necessary so that every net payment made outside the United
States following the effective date of such requirements by the Company or any
Paying Agent of principal or interest[, including original issue
discount,]9 due in respect of any Bearer Note
or any interest coupon of which the beneficial owner is a United States Alien
(but without any requirement that the nationality, residence or identity of such
beneficial owner be disclosed to the Company, any Paying Agent or any
governmental authority, with respect to the payment of such additional amounts),
after deduction or withholding for or on account of such backup withholding tax
or similar charge (other than a backup withholding tax or similar charge which
(i) would not be applicable in the circumstances referred to in the second
parenthetical clause of the first sentence of the preceding paragraph, or
(ii) is imposed as a result of the presentation of such Bearer Note or
interest coupon for payment more than 15 calendar days after the date on which
such payment becomes due and payable or on which payment thereof is duly
provided for, whichever occurs later), will not be less than the amount provided
for in such Bearer Note or interest coupon to be then due and payable. In the
event the Company elects to pay any Additional Amounts pursuant to this
paragraph, the Company shall have the right to redeem the Bearer Notes of such
Series in whole at any time pursuant to the applicable provisions of the
immediately preceding paragraph and the redemption price of such Bearer Notes
shall not be reduced for applicable withholding taxes. If the Company elects to
pay Additional Amounts pursuant to this paragraph and the condition specified in
the first sentence of this paragraph should no longer be satisfied, then the
Company shall redeem the Bearer Notes of such Series in whole, pursuant to the
applicable provisions of the immediately preceding paragraph. 

     

     

     

    
    

     

    
      	
              9

               

            	
              Include if Notes are original
      issue discount Notes. 

               

            

    

     

     

    8 

     

    
    

     

    

    The Company will, subject to certain
exceptions and limitations set forth below, pay such additional amounts (the
“Additional Amounts”) to the holder of any Note or of any coupon, if any, who is
a United States Alien as may be necessary in order that every net payment of the
principal of, premium and interest, including original issue discount, on such
Note and any other amounts payable on such Note, after withholding for or on
account of any present or future tax, assessment or governmental charge imposed
upon or as a result of such payment by the United States (or any political
subdivision or taxing authority thereof or therein), will not be less than the
amount provided for in such Note or coupon, if any, to be then due and payable.
However, the Company will not be required to make any payment of Additional
Amounts to any such holder for or on account of: 

     

    (a) any such tax, assessment or
other governmental charge which would not have been so imposed but for
(i) the existence of any present or former connection between such holder
(or between a fiduciary, settlor, beneficiary, member or shareholder of such
holder, if such holder is an estate, a trust, a partnership or a corporation)
and the United States, including, without limitation, such holder (or such
fiduciary, settlor, beneficiary, member or shareholder) being or having been a
citizen or resident thereof or being or having been engaged in a trade or
business or present therein or having, or having had, a permanent establishment
therein or (ii) the presentation by the holder of any such Note or coupon,
if any, for payment on a date more than 15 calendar days after the date on which
such payment became due and payable or on the date on which payment thereof is
duly provided for, whichever occurs later; 

     

    (b) any estate, inheritance, gift,
sales, transfer or personal property tax or any similar tax, assessment or
governmental charge; 

     

    (c) any tax, assessment or other
governmental charge imposed by reason of such holder’s past or present status as
a personal holding company or foreign personal holding company or controlled
foreign corporation or passive foreign investment company with respect to the
United States or as a corporation which accumulates earnings to avoid United
States federal income tax or as a private foundation or other tax-exempt
organization; 

     

    (d) any tax, assessment or other
governmental charge which is payable otherwise than by withholding from payments
on or in respect of any Note; 

     

    (e) any tax, assessment or other
governmental charge which would not have been imposed but for the failure to
comply with certification, information or other reporting requirements
concerning the nationality, residence or identity of the holder or beneficial
owner of such Note, if such compliance is required by statute or by regulation
of the United States or of any political subdivision or taxing authority thereof
or therein as a precondition to relief or exemption from such tax, assessment or
other governmental charge; 

     

    (f) any tax, assessment or other
governmental charge imposed by reason of such holder’s past or present status as
the actual or constructive owner of 10% or more of the total combined voting
power of all classes of stock entitled to vote of the Company or as a direct or
indirect subsidiary of the Company; or 

     

    (g) any tax, assessment or other
governmental charge required to be deducted or withheld by any Paying Agent from
a payment on a Note or coupon, if such payment can be made without such
deduction or withholding by any other Paying Agent; or 

     

    (h) any combination of items (a),
(b), (c), (d), (e), (f) and (g); 

     

    nor shall Additional Amounts be paid
with respect to any payment on a Note to a United States Alien who is a
fiduciary or partnership or other than the sole beneficial owner of such payment
to the extent such payment would be required by the laws of the United States
(or any political subdivision thereof) to be included in the income, for tax
purposes, of a beneficiary or settlor with respect to such fiduciary or a member
of such partnership or a beneficial owner who would not have been entitled to
the Additional Amounts had such beneficiary, settlor, member or beneficial owner
been the holder of such Note. 

     

     

     

    9 

     

    
    

     

    

    The Company will not be required to
make any payment of Additional Amounts to any holder for or on the account of :

     

     

     

    
      	 	(a)	any tax, duty, assessment or other governmental charge required to
      be withheld by any Paying Agent from any payment of principal of, or
      interest on, any Note, if such payment can be made without such
      withholding by any other Paying Agent in a member state of the European
      Union; or 

    

     

     

    
      	 	(b)	any tax, duty, assessment or other governmental charge required to
      be imposed or withheld on a payment to an individual and such deduction or
      withholding is required to be made pursuant to any European Union
      Directive on the taxation of savings or any law implementing or complying
      with, or introduced in order to conform to, such Directive.
  

    

    The Fiscal Agency Agreement provides
that the Company will not merge or consolidate with any other corporation or
sell, convey, transfer or otherwise dispose of all or substantially all of its
properties to any other corporation, unless (i) either the Company shall be
the continuing corporation or the successor corporation (if other than the
Company) (the “successor corporation”) shall be a corporation organized under
the laws of the United States of America or of a state thereof and such
successor corporation shall expressly assume the due and punctual payments of
all amounts due under this Note and the due and punctual performance of all of
the covenants and obligations of the Company under this Note by supplemental
agreement satisfactory to the Fiscal and Paying Agent executed and delivered to
such Fiscal and Paying Agent by the successor corporation and the Company and
(ii) the Company or such successor corporation, as the case may be, shall
not, immediately after such merger or consolidation, or such sale, conveyance,
transfer or other disposition, be in default in the performance of any such
covenant or obligation. Upon any such merger or consolidation, sale, conveyance,
transfer or other disposition, such successor corporation shall succeed to and
be substituted for, and may exercise every right and power of and shall be
subject to all the obligations of, the Company under this Note, with the same
effect as if such successor corporation had been named as the Company herein,
and the Company shall be released from its liability under this Note and under
the Fiscal Agency Agreement. 

     

    The Fiscal Agency Agreement permits
the Company, when authorized by resolution of the Board of Directors, and the
Fiscal and Paying Agent, with the consent of the holders of not less than a
majority in aggregate principal amount of the Notes of the Series of which this
Note forms a part, to modify or amend the Fiscal Agency Agreement or such Notes;
provided, however, that no such
modification or amendment may, without the consent of the holders of each such
Note affected thereby, (i) change the stated maturity of the principal of
any such Note or extend the time for payment of interest thereon;
(ii) change the amount of the principal of an Original Issue Discount Note
of such Series that would be due and payable upon an acceleration of the
maturity thereof; (iii) reduce the amount of interest payable thereon or
the amount payable thereon in the event of redemption or acceleration;
(iv) change the currency of payment of principal of or any other amounts
payable on any such Note; (v) impair the right to institute suit for the
enforcement of any such payment on or with respect to any such Note;
(vi) reduce the above-stated percentage of the principal amount of Notes of
such Series the consent of whose holders is necessary to modify or amend the
Fiscal Agency Agreement or the Notes of such Series or reduce the percentage of
the Notes of such Series required for the taking of action or the quorum
required at any such meeting of holders of Notes of such Series; or
(vii) modify the foregoing requirements to reduce the percentage of
outstanding Notes of such Series necessary to waive any future compliance or
past default. 

     

    Purchasers are required to pay for
the Notes in the currency specified in the applicable Final Terms or Securities
Note (as the case may be). Payment of principal, premium, if any, and interest,
if any, on each Note will be made in immediately available funds in the
Specified Currency unless otherwise specified in the applicable Final Terms or
Securities Note (as the case may be) and except as provided below. 

     

    If specified in the applicable Final
Terms or Securities Note (as the case may be), the Company may, without the
consent of holders of Notes denominated in a Specified Currency of a member
state of the European Union, which on or after the issue date of such Notes
participates in European Economic and Monetary Union, on giving at least 30
days’ prior notice (the “Redenomination Notice”) to the holders of such Notes
and on prior notice 

     

     

     

    10 

     

    
    

     

    

    to the Paying Agent and, if
applicable, Euroclear Bank, S.A./N.V.as operator of the Euroclear System,
Clearstream Banking, société anonyme and/or any other relevant clearing system,
elect that, with effect from the date specified in the Redenomination Notice
(the “Redenomination Date”), such Notes shall be redenominated in euro. The
election will have effect as follows: (a) the Notes shall be deemed to be
redenominated into euro in the denomination of ?0.01 with a nominal amount for
each Note equal to the nominal amount of that Note in the Specified Currency,
converted into euro at the Established Rate (defined below), provided that, if
the Company determines after consultation with the Paying Agent that the then
market practice in respect of the redenomination into euro of internationally
offered securities is different from the provisions specified above, such
provisions shall be deemed to be amended so as to comply with such market
practice and the Company shall promptly notify the holders of Notes, any stock
exchange on which the Notes may be listed and the Paying Agent of such deemed
amendments; (b) save to the extent that an Exchange Notice (defined below)
has been given in accordance with paragraph (d) below, the amount of
interest due in respect of the Notes will be calculated by reference to the
aggregate nominal amount of Notes presented (or, as the case may be, in respect
of which coupons are presented) for payment by the relevant holder and the
amount of such payment shall be rounded down to the nearest ?0.01; (c) if
definitive Notes are required to be issued after the Redenomination Date, they
shall be issued at the expense of the Company in the denominations of ?1,000,
?10,000, ?100,000 and (but only to the extent of any remaining amounts less than
?1,000 or such smaller denominations as the Paying Agent may approve) ?0.01 and
such other denominations as the Company shall determine and notify to the
Noteholders; (d) if issued prior to the Redenomination Date, all unmatured
coupons denominated in the Specified Currency (whether or not attached to the
Notes) will become void with effect from the date on which the Company gives
notice (the “Exchange Notice”) that replacement euro-denominated Notes and
coupons are available for exchange (provided that such securities are so
available) and no payments will be made in respect of them. The payment
obligations contained in any Notes so issued will also become void on that date
although such Notes will continue to constitute valid exchange obligations of
the Company. New euro-denominated Notes and coupons, if any, will be issued in
exchange for Notes and coupons, if any, denominated in the Specified Currency in
such manner as the Paying Agent may specify and as shall be notified to the
holders of Notes in the Exchange Notice. No Exchange Notice may be given less
than 15 days prior to any date for payment of principal or interest on the
Notes; (e) after the Redenomination Date, all payments in respect of the
Notes and the coupons, if any, including payments of interest in respect of
periods commencing before the Redenomination Date, will be made solely in euro
as though references in the Notes to the Specified Currency were to euro.
Payments will be made in euro by credit or transfer to a euro account outside
the United States (or any other account to which euro may be credited or
transferred) specified by the payee or, at the option of the payee, by a euro
cheque mailed to an address outside the United States; (f) if interest for
any period ending on or after the Redenomination Date is required to be
calculated for a period ending other than on a Fixed Interest Payment Date, it
will be calculated by applying the Interest Rate to each Specified Denomination,
multiplying such sum by the applicable Day Count Fraction specified in the
applicable Final Terms or Securities Note (as the case may be), and rounding the
resultant figure to the nearest sub-unit of the relevant Specified Currency,
half of any such sub-unit being rounded upwards or otherwise in accordance with
applicable market convention; (g) such other changes shall be made as the
Company may decide, after consultation with the Paying Agent and the calculation
agent (if applicable), and as may be specified in the Redenomination Notice, to
conform them to conventions then applicable to instruments denominated in euro.
For the purposes hereof, “Established Rate” means the rate for the conversion of
the Specified Currency (including compliance with rules relating to roundings in
accordance with applicable European Union regulations) into euro established by
the Council of the European Union pursuant to Article 109L(4) of the treaty
establishing the European Communities, as amended by the Treaty on European
Union, and “sub-unit” means, with respect to any Specified Currency other than
euro, the lowest amount of such Specified Currency that is available as legal
tender in the country of such Specified Currency and, with respect to euro,
means one cent. 

     

    Payments of principal, premium, if
any, and interest, if any, on any Note denominated in a Specified Currency other
than U.S. dollars shall be made in U.S. dollars if, on any payment date, such
Specified Currency (a) is unavailable due to imposition of exchange
controls or other circumstances beyond the Company’s control or (b) is no
longer used by the government of the country issuing such currency or for the
settlement of transactions by public institutions in that country or within the
international banking community. Such payments shall be made in U.S. dollars on
such payment date and on all subsequent payment dates until such Specified
Currency is again available or so used as determined by the Company.

     

     

     

    11 

     

    
    

     

    

    Amounts so payable on any such date
in such Specified Currency shall be converted into U.S. dollars at a rate
determined by the Exchange Rate Agent on the basis of the most recently
available Market Exchange Rate or as otherwise indicated in the applicable Final
Terms or Securities Note (as the case may be). The Exchange Rate Agent at the
date of the Fiscal Agency Agreement is The Bank of New York (successor to
JPMorgan Chase Bank, N.A.). Any payment required to be made on Notes denominated
in a Specified Currency other than U.S. dollars that is instead made in U.S.
dollars under the circumstances described above will not constitute a default of
any obligation of the relevant Issuer under such Notes. The “Market Exchange
Rate” with respect to any currency other than U.S. dollars means, for any day,
the noon dollar buying rate in The City of New York on such day for cable
transfers of such currency as published by the Federal Reserve Bank of New York,
or, if such rate is not published for such day, the equivalent rate as
determined by the Exchange Rate Agent. 

     

    The provisions of the two preceding
paragraphs shall not apply in the event of the introduction in the country
issuing any Specified Currency of the euro pursuant to the entry of such country
into European Economic and Monetary Union. In this situation, payments of
principal, premium, if any, and interest, if any, on any Note denominated in any
such Specified Currency shall be effected in euro at such time as is required
by, and otherwise in conformity with, legally applicable measures adopted with
reference to such country’s entry into the European Economic and Monetary Union.
All references herein or in any Final Terms or Securities Note (as the case may
be) to “euro” or “?” shall be to the lawful currency of the member states of the
European Union that adopt the single currency in accordance with the treaty
establishing the European Communities, as amended. 

     

    All determinations made by the
Company or its agent shall be at such person’s sole discretion and shall, in the
absence of manifest error, be conclusive for all purposes and binding on the
Company and all holders of Notes. 

     

    So long as this Note or the Coupons
shall be outstanding, the Company will cause to be maintained an office or
agency for the payment of the principal of and premium, if any, and interest on
this Note as herein provided in London, England, and in any jurisdiction
required by the rules and regulations of any stock exchange, competent authority
and/or market on which this Note may be listed and/or admitted to trading and an
office or agency in London for the transfer and exchange as aforesaid of the
Notes. The Company may designate other agencies for the payment of said
principal, premium and interest at such place or places outside the United
States (subject to applicable laws and regulations) as the Company may decide.
So long as there shall be any such agency, the Company shall keep the Fiscal and
Paying Agent advised of the names and locations of such agencies, if any are so
designated. 

     

    With respect to moneys paid by the
Company and held by the Fiscal and Paying Agent or any Paying Agent for the
payment of the principal of or interest or premium, if any, on any Note that
remain unclaimed at the end of three years after such principal, interest or
premium shall have become due and payable (whether at maturity or upon call for
redemption or otherwise), (i) the Fiscal and Paying Agent or such Paying
Agent shall notify the holders of such Notes that such moneys shall be repaid to
the Company and any person claiming such moneys shall thereafter look only to
the Company for payment thereof and (ii) such moneys shall be so repaid to
the Company. Upon such repayment all liability of the Fiscal and Paying Agent or
such Paying Agent with respect to such moneys shall thereupon cease, without,
however, limiting in any way any obligation that the Company may have to pay the
principal of or interest or premium, if any, on this Note as the same shall
become due. 

     

    No provision of this Note or of the
Fiscal Agency Agreement shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of, premium, if any,
and interest on this Note at the time, place, and rate, and in the coin or
currency, herein and in the Fiscal Agency Agreement prescribed unless otherwise
agreed between the Company and the holder of this Note. 

     

    No recourse shall be had for the
payment of the principal of, or premium, if any, or the interest on this Note,
for any claim based hereon, or otherwise in respect hereof, or based on or in
respect of the Fiscal Agency Agreement or any fiscal agency agreement
supplemental thereto, against any incorporator, shareholder, officer or
director, as such, past, present or future, of the Company or of any successor
corporation, either directly or through the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law or by
the enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as part of the consideration for the issue
hereof, expressly waived and released. 

     

     

     

    12 

     

    
    

     

    

    This Note and the Coupons shall for
all purposes be governed by, and construed in accordance with, the laws of the
State of New York. 

     

    As used herein: 

     

    (a) the term “Business Day” means, unless
otherwise specified in the applicable Final Terms or Securities Note (as the
case may be), any day other than a Saturday or Sunday or any other day on which
banking institutions are generally authorized or obligated by law or regulation
to close in each of (i) the Principal Financial Center of the country in
which the Company is incorporated; (ii) the Principal Financial Center of
the country of the currency in which the Notes are denominated (if the Note is
denominated in a Specified Currency other than euro); (iii) London,
England; (iv) The City of New York and (v) any Additional Business
Centre specified in the applicable Final Terms or Securities Note (as the case
may be); provided, however, that with respect to Notes denominated in euro, such
day is also a TARGET Settlement Day. For purposes of this definition, the
Principal Financial Center of the United States is New York; 

     

    (b) the term “Notices” refers to notices to
holders of the Notes to be given by publication in one leading English language
daily newspaper with general circulation in London or, if publication in London
is not practical, elsewhere in Western Europe. Such publication is expected to
be made in the Financial Times. If the Series of which this Note forms a part is
listed on any stock exchange, competent authority and/or market, notices to the
holders of the Notes will be published in a manner which complies with the rules
and regulations of such stock exchange, competent authority and/or market. Such
notices will be deemed to have been given on the date of such publication, or if
published in such newspapers on different dates, on the date of the first such
publication; and 

     

    (c) the term “Principal Financial Center”
means (i) the capital of the country issuing the currency in which the
Notes are denominated or (ii) the capital city of the country to which the
Designated LIBOR Currency relates, as applicable, except, in the case of
(i) or (ii) above, that with respect to the following currencies, the
“Principal Financial Center” will be as indicated below: 

     

     

     

    
      	
            	
            	
            
	
              Currency

               

            	  	
              Principal Financial
      Center

               

            
	United
      States Dollars	  	The
      City of New York
	Australian Dollars	  	Sydney
      and Melbourne
	Canadian
      Dollars	  	Toronto
	New
      Zealand Dollars	  	Auckland and Wellington
	Norwegian
      Krone	  	Oslo
	South
      African Rand	  	Johannesburg
	Swedish
      Krona	  	Stockholm
	Swiss
      Francs	  	Zurich

    

    (d) the term “TARGET Settlement Day” means
any day on which the Trans-European Automated Real-Time Gross Settlement Express
Transfer (TARGET) System is open; 

     

    (e) 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;

     

    (f) the term “United States Alien” means a
beneficial owner of a Note that is not, for United States federal income tax
purposes, (i) a citizen or resident of the United States, (ii) a
corporation, partnership or any other entity created or organized in or under
the laws of the United States or any political subdivision thereof,
(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 

     

     

     

    13 

     

    
    

     

    

    (g) 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.

     

     

     

    14 

     

    
    

     

    

    OPTION TO ELECT REPAYMENT

     

    The undersigned hereby irrevocably
request(s) the Issuer to repay the within Note (or portion thereof specified
below) pursuant to its terms at a price equal to the principal amount thereof,
together with interest to the Optional Repayment Date, to the undersigned, at
                        (Please print or typewrite name and
address of the undersigned). 

     

    If less than the entire principal
amount of the within Note is to be repaid, specify the portion thereof (which
shall be increments of 1,000 units of the Specified Currency indicated on the
face hereof) which the holder elects to have repaid:                     ;
and specify the denomination or denominations (which shall not be less than the
minimum authorized denomination) of the Notes to be issued to the holder for the
portion of the within Note not being repaid (in the absence of any such
specification, one such Note will be issued for the portion not being repaid):

     

                        .

     

    
      	
            	
            	
            
	Date:
      	 	
            
	
            	
            
	
            	 	NOTICE: The signature on
      this Option to Elect Repayment must correspond with the name as written
      upon the face of the within instrument in every particular without
      alteration or enlargement.

    

     

     

    15 

     

    
    

     

    

    SCHEDULE A

     

    AMORTIZATION SCHEDULE

     

    [INSERT IF APPLICABLE] / [NOT
APPLICABLE] 

     

    
    

     

    

    EURO MEDIUM-TERM NOTE

     

    NO.             

     

    FORM OF COUPON

     

    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. 

     

    GENERAL ELECTRIC CAPITAL CORPORATION

     

    EURO MEDIUM-TERM NOTE

     

     

     

    
      	
            	
            	
            	
            	
            	
            	
            
	Principal
      Amount:	  	
            	 	
            	 	Coupon
      Number10            
	
            	  	
            	 	
            	 	[Interest Amount due in
	
            	  	
            	 	
            	 	Specified Currency]
	
            	  	
            	 	
            	 	Due
                              

    

    Unless the Note to which this Coupon
appertains shall have been called for previous redemption and payment thereof
duly provided for, on the date set forth hereon, GENERAL ELECTRIC CAPITAL
CORPORATION (the “Company”) will pay to bearer, upon surrender hereof at such
agencies in such places outside the United States as the Company may determine
from time to time (the “Paying Agents”), interest on the principal amount of
such Note as specified above (together with any additional amounts in respect
thereof which the Company may be required to pay according to the terms of such
Note), in such coin or currency as specified above as at the time of payment
shall be legal tender for the payment of public and private debts. Payment on
this Coupon shall be made, at the option of the bearer hereof and subject to any
applicable laws and regulations, by a check mailed to an address outside the
United States furnished by such bearer or by wire transfer to an account
maintained by the payee with a bank located outside the United States.

     

     

     

    
      	
            	
            	
            
	GENERAL ELECTRIC CAPITAL CORPORATION
	
            	
            
	By:	 	
               

               

            
	Name:	 	
            
	Title:	 	
            

    

    [SEAL] 

     

     

     

    
      	
            	
            	
            	
            	
            
	Attest:	 	By	 	
               

               

            
	
            	 	Name:	 	
            
	
            	 	Title:	 	
            

    

     

     

    
    

     

    
      	
              10

               

            	
              The Coupon number, the
      interest amount due in the Specified Currency and due date should appear
      in the right-hand section of the face of the Coupon. 

               

            

    

    
    

     

    

    [Form of Reverse of Coupon]

     

    Principal Paying
Agent: 

     

    The Bank of New York 

     

    One Canada Square 

     

    London E14 5AL, United Kingdom

     

    Paying Agents:

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