Document:

<PAGE>

                                                                    EXHIBIT 4(r)

                   FORM OF DEFINITIVE FIXED RATE BEARER NOTE

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

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

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.

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

/4/ This legend to appear on all Notes (whether denominated in Sterling or
    otherwise) in respect of which the issue proceeds are accepted by the Issuer
    in the United Kingdom.
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                                                                          Page 2

                      GENERAL ELECTRIC CAPITAL CORPORATION
                                 EURO MEDIUM-TERM NOTE
                                 (Fixed Rate)

                                 SERIES:

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

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

                                APPLICABILITY OF                      DESIGNATED EXCHANGE             If yes, state Issue Price and
MATURITY DATE:                  ANNUAL REDEMPTION                     RATE:                           each redemption date and
                                PERCENTAGE REDUCTION:                                                 redemption price:

INTEREST RATE:                  If yes, state Annual Percentage       OPTION VALUE
                                Reduction:                            CALCULATION AGENT:              DENOMINATIONS
                                                                                                      (if not as set forth
                                                                                                      herein):

INTEREST PAYMENT
PERIOD:                         OPTIONAL REPAYMENT                    INDEXED CURRENCY:
                                DATE(S):
                                                                                                      ADDENDUM
INTEREST PAYMENT                                                      CURRENCY BASE RATE:             Attached: X  Yes
DATE(S):                        INTEREST ACCRUAL DATE:                                                          X  No

                                                                      AVAILABILITY OF
TAX REDEMPTION                  OPTION ELECTION DATES:                REGISTERED NOTES:
DATE:
</TABLE>

     General Electric Capital Corporation, a New York 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) 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 Interest Payment Date (as specified above), commencing with the
first Interest Payment Date next succeeding the Original Issue Date specified
above, and on the Maturity Date (or any redemption or repayment date).

     Payment of the principal of this Note and any premium due at the Maturity
Date (or any 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").

     Interest on this Note will accrue from the most recent 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 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.

                                       2
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                                                                          Page 3

     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 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 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
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                                                                          Page 4

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

DATED:                              GENERAL ELECTRIC CAPITAL
                                          CORPORATION

[SEAL]                              By:_____________________________________
                                       Title:

Attest:

By:_______________________
   Title:

CERTIFICATE OF AUTHENTICATION

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

THE CHASE MANHATTAN BANK,
     as Fiscal and Paying Agent

By:_______________________
     Authorized Officer

                                       4
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                                                                          Page 5

                                 [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 a second amended and restated fiscal and paying agency agreement,
dated as of March 31, 1999 among the Company, GE Capital Australia, GE Capital
Australia Funding Pty. Ltd., GE Capital Finance Australia, General Electric
Capital Canada Inc., GE Capital Canada Funding Company, GE Card Services Canada
Inc. (formerly GE Capital Canada Retailer Financial Services Company), and The
Chase Manhattan Bank, London Branch, as fiscal agent and as principal paying
agent (in such capacities, the "Fiscal and Paying Agent") (as amended and
supplemented from time to time, the "Fiscal Agency Agreement"), 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 Chase Manhattan Bank 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
the date of repayment.  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 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:

  .  If this Note is denominated in a Specified Currency other than euro,
     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).

  .  If this Note is denominated in euro, interest will be computed and paid on
     the basis of the actual number of days in the Calculation Period divided by
     365 (or, if any portion of that Calculation Period falls in a

                                       5
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                                                                          Page 6

     leap year, the sum of (A) the actual number of days in that portion of the
     Calculation Period falling in a leap year divided by 366 and (B) the actual
     number of days in that portion of the Calculation Period falling in a non-
     leap year divided by 365 ("Actual/Actual (ISDA)" or "Actual/365").

     In the case where the Interest Payment Date or the Maturity Date (or any
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 Interest Payment Date or on the
Maturity Date (or any redemption or repayment date), and no interest shall
accrue for the period from and after the Interest Payment Date or the Maturity
Date (or any 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 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 the denominations
of 1,000 units, 10,000 units or 100,000 units of the Specified Currency
indicated on the face hereof (unless otherwise specified 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 denominations of 10,000 units of the Specified
Currency indicated on the face hereof or any integral multiple of 1,000 units of
such Specified Currency in excess thereof (unless otherwise specified 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 Chase Manhattan
Bank, London Branch, 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 an
Interest Payment Date and before the opening of business at such office on the
relevant 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, authen-

                                       6
<PAGE>

                                                                          Page 7

tication 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.

     If the face hereof indicates that this Note is subject to "Modified Payment
upon Acceleration or Redemption", then (i) if the principal hereof is declared
to be due and payable as described in the preceding paragraph, the amount of
principal due and payable with respect to this Note shall be limited to the sum
of the Issue Price specified on the face hereof plus the Amortized Amount, (ii)
for the purpose of any vote of noteholders taken pursuant to the Fiscal Agency
Agreement prior to the acceleration of payment of this Note, the principal
amount hereof shall equal the amount that would be due and payable hereon,
calculated as set forth in clause (i) above, if this Note were declared to be
due and payable on the date of any such vote and (iii) for the purpose of any
vote of noteholders taken pursuant to the Fiscal Agency Agreement following the
acceleration of payment of this Note, the principal amount hereof shall equal
the amount of principal due and payable with respect to this Note, calculated as
set forth in clause (i) above.

     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 (except that if
this Note is subject to "Modified Payment upon Acceleration or Redemption", such
redemption price would be limited to the sum of the Issue Price plus the
Amortized Amount), 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,]/5/ due in respect of any Bearer Notes of the 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
________________________________

/5/  Include if Notes are original issue discount Notes.

                                       7
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                                                                          Page 8

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 (except that if
this Note is subject to "Modified Payment upon Acceleration or Redemption", such
redemption price would be limited to the sum of the Issue Price plus the
Amortized Amount), 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,]/6/ 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.

     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
_____________________________

/6/  Include if Notes are original issue discount Notes.

                                       8
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                                                                          Page 9

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 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 city in Western Europe;

          (f)  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;

          (g)  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

          (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
<PAGE>

     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 Pricing Supplement.  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 Pricing
Supplement and except as provided below.

     If specified in the applicable Pricing Supplement, 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 to the Paying Agent, Euroclear, Clearstream Banking societe
anonyme (formerly Cedelbank) ("Clearstream Luxembourg") 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 euro 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

                                       10
<PAGE>

amount of such payment shall be rounded down to the nearest euro 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 euro
1,000, euro 10,000, euro 100,000 and (but only to the extent of any remaining
amounts less than euro 1,000 or such smaller denominations as the Paying Agent
may approve) euro 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 an 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 Pricing Supplement, 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;
and (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 EC regulations) into euro established by the Council of European
Union pursuant to Article 1091(4) of the treaty establishing the European
Community, 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.

     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 Pricing Supplement.  The Exchange Rate Agent at the
date of the Fiscal Agency Agreement is The Chase Manhattan Bank.  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

                                       11
<PAGE>

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 Pricing Supplement
to "Euro" 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 Luxembourg]/7/ [and in Paris, France]/8/ 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.

     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.

________________________
/7/  Include if Note is listed on Luxembourg Stock Exchange.
/8/  Include if Note is denominated in French Francs and listed on Paris Bourse.

                                       12
<PAGE>

     As used herein:

          (a)  the term "Amortized Amount" is the original issue discount
     amortized from the Original Issue Date of the predecessor global Note to
     the date of redemption or declaration, as the case may be, which
     amortization shall be calculated using the "constant yield method"
     (computed in accordance with the rules under the Internal Revenue Code of
     1986, as amended, and the regulations thereunder, in effect on the date of
     redemption or declaration, as the case may be);

          (b)  the term "Business Day" means, unless otherwise specified in the
     applicable Pricing Supplement, 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 (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 the euro); (iii) the place at which payment on such Note or
     coupon is to be made and (iv) London, England; provided, however, that with
     respect to Notes denominated in euros, such day is also a TARGET Settlement
     Day. For purposes of this definition, the principal financial center of the
     United States is New York;

          (c)  the term "Notices" refers to:

               (1)  notices to holders of the Notes to be given by publication
          in a daily newspaper in the English language of general circulation in
          London and, if the Series of which this Note forms a part is listed on
          the Luxembourg Stock Exchange and such Exchange so requires, in a
          daily newspaper in Luxembourg or, if publication in either London or
          Luxembourg is not practical, elsewhere in Western Europe. Such
          publication is expected to be made in the Financial Times and (if such
                                                    ---------------
          Series is listed on the Luxembourg Stock Exchange) the Luxemburger
                                                                 -----------
          Wort. 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;

               (2)  notices to holders of any Notes denominated in French francs
          or denominated in another currency or currencies that are linked,
          directly or indirectly to French francs and that are listed on the
          Paris Bourse, to be given by publication in a French language daily
          newspaper of general circulation in Paris (which is expected to be La
                                                                             --
          Tribune Desfosses). Such notices will comply with the applicable rules
          -----------------
          of the Paris Bourse; and

               (3)  notices to holders of any Notes denominated in Dutch guilder
          that are listed on the Amsterdam Stock Exchange to be given by
          publication in a leading daily newspaper in the English language of
          general circulation in Amsterdam and London and if such Notes are
          listed on the Amsterdam Stock Exchange and such Exchange so requires,
          also published in the Official Price List ("Officiele Prijscourant").
          If publication in London or Amsterdam, as the case may be, is not
          practical, such publication shall be made elsewhere in Western Europe.
          Such publication is expected to be made in the Financial Times in
          London and the Het Financieele Dagblad in Amsterdam. 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;

          (d)  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

                                       13
<PAGE>

          Canadian dollars         Toronto
          South African rand       Johannesburg
          Swiss francs             Zurich

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

          (f) 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;

          (g) 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 or partnership created
     or organized in or under the laws of the United States, any state thereof
     or the District of Columbia (unless, in the case of a partnership, Treasury
     regulations provide otherwise), (iii) an estate whose income is subject to
     United States federal income tax regardless of its source, or (iv) a trust
     if 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.
     Notwithstanding the preceding sentence, to the extent provided in Treasury
     regulations, certain trusts in existence on August 20, 1996, and treated as
     United States person prior to such date, that elect to continue to be
     treated as United States persons, will also not be a United States Alien;

          (h) 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
<PAGE>

                           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
<PAGE>

                                                           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 Number/9/ ______
                                                         [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:

________________________
/9/  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.
<PAGE>

                          [Form of Reverse of Coupon]

                            Principal Paying Agent:
                            ----------------------

                           The Chase Manhattan Bank
                                 London Branch
                      Trinity Tower, 9 Thomas More Street
                            London E1 9YT, England

                                Paying Agents:
                                -------------

                     Chase Manhattan Bank Luxembourg S.A.
                                 5 Rue Plaetis
                               L-2012 Luxembourg

                           [Chase Manhattan Bank AG
                              Alexanderstrasse 59
                                60489 Frankfurt
                                 Germany]/10/

________________________
/10/  Insert if Note is denominated in Deutsche Marks.<PAGE>

                                                                    EXHIBIT 4(s)

              FORM OF TEMPORARY GLOBAL FLOATING RATE BEARER NOTE
                  Temporary Global Floating Rate Bearer Note

                     GENERAL ELECTRIC CAPITAL CORPORATION

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

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

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

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

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

__________________________________
/1/  Insert Principal Amount.

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

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

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

                     GENERAL ELECTRIC CAPITAL CORPORATION
                             EURO MEDIUM-TERM NOTE

                                (Floating Rate)

                                    SERIES:

<TABLE>
<S>                                  <C>                              <C>                                  <C>
COMMON CODE:                         MINIMUM INTEREST RATE:           INTEREST RESET PERIOD:               INITIAL REDEMPTION DATE:

ISIN:                                INDEX MATURITY:                  INTEREST RESET DATES:                INITIAL REDEMPTION
                                                                                                           PERCENTAGE:

ORIGINAL ISSUE DATE:                 OPTION ELECTION DATES:           APPLICABILITY OF MODIFIED PAYMENT    APPLICABILITY OF ANNUAL
                                                                      UPON ACCELERATION OR REDEMPTION:     REDEMPTION PERCENTAGE
MATURITY DATE:                       OPTIONAL PAYMENT CURRENCY:                                            REDUCTION:

                                                                      If yes, state Issue Price and each
SPECIFIED (FACE AMOUNT) CURRENCY:    DESIGNATED EXCHANGE RATE:        redemption date and redemption       If yes, state Annual
                                                                      price:                               Percentage Reduction:

INTEREST PAYMENT DATE(S):            OPTION VALUE CALCULATION AGENT:  INDEXED CURRENCY:                    OPTIONAL REPAYMENT
                                                                                                           DATE(S):
                                                                      CURRENCY BASE RATE:

INTEREST RATE BASIS:                 SPREAD (PLUS OR MINUS):
                                                                                                           DENOMINATIONS OF
                                                                                                           DEFINITIVE NOTES (if not
                                                                      DETERMINATION AGENT:                 as set forth herein):

INITIAL INTEREST RATE:               ALTERNATE RATE EVENT SPREAD:     AVAILABILITY OF REGISTERED NOTES:    TAX REDEMPTION DATE:

INITIAL ACCRUAL DATE:
                                     SPREAD MULTIPLIER:               IF THIS NOTE IS EXCHANGEABLE
MAXIMUM INTEREST RATE:                                                DIRECTLY FOR DEFINITIVE NOTES,
                                     INTEREST PAYMENT PERIOD:         INDICATE FORM(S) OF DEFINITIVE
                                                                      NOTES:
</TABLE>

<TABLE>
<S>                                                      <C>
CALCULATION AGENT:                                       IF INTEREST RATE BASIS IS LIBOR:
                                                         INDEX CURRENCY:_________________
                                                         DESIGNATED LIBOR PAGE:
                                                         [_]   Reuters Page: ____________
                                                         [_]   Telerate Page:  __________

INTEREST CALCULATION:                                    DAY COUNT CONVENTION
[_]   Regular Floating Rate Note                         [_]  Actual/360 for the period
[_]   Floating Rate/Fixed Rate                           from              to
        Fixed Rate Commencement Date:                    [_]  Actual/Actual to the period
        Fixed Interest Rate:                             from              to
[_]   Inverse Floating Rate Note
        Fixed Interest Rate:

ADDENDUM ATTACHED:                                       OTHER PROVISIONS:
[_]   Yes
[_]   No
</TABLE>

     General Electric Capital Corporation, a New York corporation (together with
its successors and assigns, the "Company"), for value received, hereby promises
to pay to each of Morgan Guaranty Trust Company of New York, Brussels Office, as
operator of the Euroclear System (the "Euroclear Operator"), and Clearstream
Banking societe

                                       2
<PAGE>

anonyme (formerly Cedelbank) ("Clearstream Luxembourg"), or any other recognized
or agreed clearing system, with respect to that portion of this Note held for
its account, the principal sum (or Face Amount, if the Note has a dual-currency
or index feature) specified in Schedule A hereto, on the Maturity Date specified
above (except to the extent redeemed or repaid prior to the Maturity Date) and
to pay interest thereon at the Interest Rate per annum specified above from the
Original Issue Date specified above until the principal hereof is paid or duly
made available for payment (except as provided below), in arrears monthly,
quarterly, semiannually or annually as specified above as the Interest Payment
Period on each Interest Payment Date (as specified above), commencing with the
first Interest Payment Date next succeeding the Original Issue Date specified
above, and on the Maturity Date (or any redemption or repayment date).

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

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

     Except as otherwise provided herein, this Note is governed by the terms and
conditions of the Permanent Global 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) 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

                                       3
<PAGE>

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 cause Schedule A of this Note to be
endorsed to reflect the reduction of its principal amount by an amount equal to
the aggregate principal amount being so exchanged. Except as otherwise provided
herein, until exchanged for a Permanent Global 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, 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)  the term "Business Day" means, unless otherwise specified in the
applicable Pricing Supplement, 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 (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) the place at
which payment on such Note or coupon is to be made; and (iv) London, England;
provided, however, that with respect to Notes denominated in euros, such day is
also TARGET Settlement Date. For purposes of this definition, the principal
financial center of the United States is New York;

     (b)  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;

     (c)  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)(v), 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;

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

     (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 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 (iii) an estate or trust
the income of which is subject to United States federal income taxation
regardless of its source; and

     (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.

                                       4
<PAGE>

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

DATED:                        GENERAL ELECTRIC CAPITAL
                                  CORPORATION

[SEAL]                        By:_____________________________
                                 Title:

Attest:

By:_______________________
     Title

CERTIFICATE OF AUTHENTICATION

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

THE CHASE MANHATTAN BANK (NATIONAL ASSOCIATION),
     as Fiscal and Paying Agent

By:_______________________
     Authorized Officer

                                       5
<PAGE>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                                       6
<PAGE>

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

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

                                  CERTIFICATE

                   _________________________________________

                     General Electric Capital Corporation
                            Euro Medium-Term Notes

                 Represented by Temporary Global Note No. __.

     This is to certify that as of the date hereof, and except as set forth
below, the above-captioned Notes held by you for our account (i) are owned by
person(s) that are not citizens or residents of the United States, domestic
partnerships, domestic corporations or any estate or trust the income of which
is subject to United States Federal income taxation regardless of its source
("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)(v)) ("financial institutions")
purchasing for their own account or for resale, or (b) acquired the Notes
through foreign branches of United States financial institutions and who hold
the Notes through such United States financial institutions on the date hereof
(and in either case (a) or (b), each such United States financial institution
hereby agrees, on its own behalf or through its agent, that you may advise the
Issuer or the Issuer's agent that it will comply with the requirements of
Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as
amended, and the regulations thereunder), or (iii) are owned by United States or
foreign financial institution(s) for purposes of resale during the restricted
period (as defined in U.S. Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)),
and in addition if the owner of the Notes is a United States or foreign
financial institution described in clause (iii) above (whether or not also
described in clause (i) or (ii)) such financial institution has not acquired the
Notes for purposes of resale directly or indirectly to a United States person or
to a person within the United States or its possessions.

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

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

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

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

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

Dated: _______________, 19__
[To be dated no earlier than the 10th day before
[insert date of Interest Payment Date prior to Exchange Date]
[insert date of redemption or acceleration prior to Exchange Date]
[insert Exchange Date]]

                                   [Name of Account Holder]

                                   By:______________________
                                      (Authorized Signatory)

                                   Name:
                                   Title:
<PAGE>

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

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

                                  CERTIFICATE

                  __________________________________________

                     General Electric Capital Corporation
                            Euro Medium-Term Notes

                Represented by Temporary Global Note No. ____.

     This is to certify that, based solely on certifications we have received in
writing, by tested telex or by electronic transmission from member organizations
appearing in our records as persons being entitled to a portion of the principal
amount set forth below (our "Member Organizations") substantially to the effect
set forth in Exhibit B-1 to the Fiscal and Paying Agency Agreement, as of the
date hereof, _____________ principal amount of the above-captioned Notes (i) is
owned by persons that are not citizens or residents of the United States,
domestic partnerships, domestic corporations or any estate or trust the income
of which is subject to United States Federal income taxation regardless of its
source ("United States persons"), (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)(v) ("financial institutions")
purchasing for their own account or for resale, or (b) acquired the Notes
through foreign branches of United States financial institutions and who hold
the Notes through such United States financial institutions on the date hereof
(and in either case (a) or (b), each such United States financial institution
has agreed, on its own behalf or through its agent, that we may advise the
Issuer or the Issuer's agent that it will comply with the requirements of
Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as
amended, and the regulations thereunder), or (iii) is owned by United States or
foreign financial institutions for purposes of resale during the restricted
period (as defined in U.S. Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7),
and to the further effect that United States or foreign financial institutions
described in clause (iii) above (whether or not also described in clause (i) or
(ii)) have certified that they have not acquired the Notes for purposes of
resale directly or indirectly to a United States person or to a person within
the United States or its possessions.

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

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

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

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

Dated: __________________, 19__
[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]]

                              [MORGAN GUARANTY TRUST COMPANY
                                OF NEW YORK, BRUSSELS OFFICE,
                                as Operator of the Euroclear System]

                              [CLEARSTREAM LUXEMBOURG]
                              [OTHER CLEARANCE SYSTEM]

                              By:____________________

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