Document:

<PAGE>

                                                                     EXHIBIT 4.2

                                  HUMANA INC.

                            % Senior Notes Due 2006

REGISTERED
                                                                PRINCIPAL AMOUNT
No. []                                                          $300,000,000
                                                                CUSIP No.

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.
UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST
COMPANY (THE "DEPOSITARY") TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY
OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.  UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

          HUMANA INC., a Delaware corporation (the "Issuer" or the "Company,"
which terms include any successor corporation under the Indenture hereinafter
referred to), for value received, hereby promises to pay to CEDE & CO., or
registered assigns, the principal sum of THREE HUNDRED MILLION DOLLARS on ,
2006, and to pay interest thereon (computed on the basis of a 360-day year of
twelve 30-day months), semi-annually in arrears on  and  (the "Interest Payment
Dates") of each year, commencing on , 2002, at the rate per annum specified in
the title of this Note from August , 2001 or the most recent Interest Payment
Date to which interest had been paid or duly provided for.

          The interest so payable and punctually paid or duly provided for on
any Interest Payment Date will as provided in the Indenture be paid to the
Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on the  and  (the "Record Date") immediately
preceding such Interest Payment Date.  Payment of the principal of (and premium,
if any) and interest on this Note will be made at the office or agency of the
Company maintained by the Company for such purpose, in the Borough of Manhattan,
The City of New York, which initially will be in the corporate trust office of
The Bank of New York, the Trustee for this Note under the Indenture, located at
101 Barclay Street, New York, New York

                                       1
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10286, 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.

          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
or on behalf of The Bank of New York, the Trustee for this Note under the
Indenture, or its successor thereunder, by the manual signature of one of its
authorized officers, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

                                       2
<PAGE>

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed, manually or in facsimile, and an imprint or facsimile of its corporate
seal to be imprinted hereon.

Dated: August _____, 2001

                                    HUMANA INC.

                                    By:
                                       ------------------------------
                                       Name:
                                       Title:

[FACSIMILE OF SEAL]

                                    Attest:

                                    By:
                                       ------------------------------
                                       Name:
                                       Title:

CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

THE BANK OF NEW YORK,
  as Trustee

By:
   ------------------------------
   Authorized Signatory

                                       3
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                               (Reverse of Note)

                                  HUMANA INC.

          This Note is one of a duly authorized issue of Securities of the
Company designated as its % Senior Notes Due 2006 (the "Notes").  The Notes are
one of an indefinite number of series of debt securities of the Company (the
"Securities"), issued or issuable under and pursuant to an indenture (the
"Indenture") dated as of August , 2001, between the Company and The Bank of New
York (herein called the "Trustee," which term includes any successor Trustee
under the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights thereunder of
the Company, the Trustee and the Holders of the Notes and the terms upon which
the Notes are to be authenticated and delivered.  The terms, conditions and
provisions of the Notes are those stated in the Indenture, those made part of
the Indenture by reference to the Trust Indenture Act of 1939, as amended, and
those set forth in this Note.  This Note is one of a series designated on the
face hereof initially issued in an aggregate principal amount of $300,000,000.
The Company may, from time to time, without the consent of the Holders, issue
and sell additional Securities ranking equally with the Notes and otherwise
identical in all respects (except for their date of issue, issue price and the
date from which interest payments thereon shall accrue) so that such additional
Securities shall be consolidated and form a single series with the Notes.

          The terms of other series of Securities issued under the Indenture may
vary with respect to interest rates or interest rate formulas, issue dates,
maturity, redemption, repayment, currency of payment and otherwise as provided
in the Indenture.  The Indenture further provides that Securities of a single
series may be issued at various times, with different maturity dates and may
bear interest at different rates.  All terms used in this Note which are defined
in the Indenture shall have the meanings assigned to them in the Indenture.

          This Note is not subject to any sinking fund.

          If an Event of Default (other than an Event of Default described in
Section 501 (5) or 501(6) of the Indenture, with respect to the Company) with
respect to the Notes shall occur and be continuing, then either the Trustee or
the Holders of not less than 25% in aggregate principal amount of the Notes of
this series then Outstanding may declare the aggregate principal amount of the
Notes of this series due and payable in the manner and with the effect provided
in the Indenture.  If an Event of Default specified in Section 501(5) or 501(6)
occurs with respect to the Company, all of the unpaid principal amount and
accrued interest thereon shall ipso facto become and be immediately due and
payable in the manner and with the effect provided in the Indenture without any
declaration or other act by the Trustee or any Holder.

          This Note may be redeemed at any time in whole, or from time to time
in part, at the option of the Company (such date of redemption, the "Optional
Redemption Date") at the Redemption Price (as defined below) together with
interest accrued thereon to the Optional Redemption Date.

          The "Redemption Price" shall equal to the greater of:

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      .  100% of the principal amount of the Notes to be redeemed; and

      .  the sum of the present values of the remaining scheduled payments on
         the Notes to be redeemed consisting of principal and interest,
         exclusive of interest accrued to the Optional Redemption Date,
         discounted to the Optional Redemption Date on a semi-annual basis
         (assuming a 360-day year consisting of twelve 30-day months) at the
         applicable Treasury Yield plus 25 basis points plus accrued interest to
         the date of redemption.

          The Notes called for redemption become due on the Optional Redemption
Date. Notices of redemption will be mailed by first-class mail at least 30 but
not more than 60 days before the Optional Redemption Date to each Holder of
Notes to be redeemed at its registered address.  The notice of redemption for
the Notes will state the amount to be redeemed. On and after the Optional
Redemption Date, interest will cease to accrue on any Notes that are redeemed.
If less than all the Notes are redeemed at any time, the Trustee will select
Notes on a pro rata basis or by any other method the Trustee deems fair and
appropriate.

          For purposes of determining the Redemption Price, the following
definitions are applicable:

          "Comparable Treasury Issue" means the United States Treasury
security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes that would be utilized, at the
time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the
remaining terms of the Notes.

          "Comparable Treasury Price" means, with respect to any Optional
Redemption Date:

          the average of the bid and the asked prices for the Comparable
          Treasury Issue, expressed as a percentage of its principal amount, at
          4:00 p.m. on the third business day preceding that Optional Redemption
          Date, as set forth on "Telerate Page 500," or such other page as may
          replace Telerate Page 500; or

          if Telerate Page 500, or any successor page, is not displayed or does
          not contain bid and/or asked prices for the Comparable Treasury Issue
          at that time, the average of the Reference Treasury Dealer Quotations
          obtained by the Trustee for that Optional Redemption Date, after
          excluding the highest and lowest of such Reference Treasury Dealer
          Quotations, or, if the Trustee is unable to obtain at least four such
          Reference Treasury Dealer Quotations, the average of all Reference
          Treasury Dealer Quotations obtained by the Trustee.

          "Independent Investment Banker" means either J.P. Morgan Securities
Inc. or Lehman Brothers Inc., as selected by us or, if both such firms are
unwilling or unable to select the applicable Comparable Treasury Issue, an
independent investment banking institution of national standing appointed by the
Trustee and reasonably acceptable to the Company.

                                       5
<PAGE>

          "Reference Treasury Dealer" means J.P. Morgan Securities Inc. and
Lehman Brothers Inc. and their respective successors and three other primary
U.S. government securities dealers in New York City selected by the Independent
Investment Banker (each, a "Primary Treasury Dealer"); provided, however, that
if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company
shall substitute therefor another Primary Treasury Dealer.

          "Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any Optional Redemption Date for the Notes, an
average, as determined by the Trustee, of the bid and asked prices for the
Comparable Treasury Issue for the Notes, expressed in each case as a percentage
of its principal amount, quoted in writing to the Trustee by the Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third business day
preceding the Optional Redemption Date.

          "Treasury Yield" means, with respect to any Optional Redemption
Date, the rate per annum equal to the semi-annual equivalent yield to maturity,
computed as of the third business day immediately preceding the Optional
Redemption Date, of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue, expressed as a percentage of its principal amount,
equal to the applicable Comparable Treasury Price for the Optional Redemption
Date.

          The Indenture permits, with certain exceptions as therein provided,
the Company and the Trustee with the consent of the Holders of more than 50% in
principal amount of the Securities at the time Outstanding of each series issued
under the Indenture to be affected thereby, to execute supplemental indentures
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of modifying in any manner
the rights of the Holders of the Securities of such series; provided, however,
that no such supplemental indenture shall, among other things, (i) change the
Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or interest
thereon, if any, or any premium payable upon redemption thereof; or (ii) change
the Place of Payment on any Security or the currency or currency unit in which
any Security or the principal or interest thereon is payable; (iii) impair the
right to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof; (iv) reduce or alter the method of computation of any
amount payable upon redemption, repayment or purchase of any Securities by the
Company (or the time when such redemption, repayment or purchase may be made);
or (v) reduce the percentage in principal amount of the Securities, the Holders
of which are required to consent to any supplemental indenture, without the
consent of the Holder of each Security affected thereby.  The Indenture also
contains provisions permitting the Holders of more than 50% in principal amount
of the Securities of each series at the time outstanding, on behalf of the
Holders of all the Securities of that series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences with respect to such series, except a default
in the payment of principal of or interest, if any, on any Security of that
series or a default with respect to a covenant or provision of the Indenture
which cannot be amended without the consent of such Holder.

          The Notes are issuable only in registered form without coupons in
denominations of $1,000 and integral multiples thereof.  The Notes shall be
initially issued in the form of a Global Security.  As provided in the Indenture
and subject to certain limitations therein set forth,

                                       6
<PAGE>

the Notes are exchangeable for a like aggregate principal amount of Notes as
requested by the Holder surrendering the same. If (x) the Depositary is at any
time unwilling or unable to continue as depository and a successor depository is
not appointed by the Company within 90 days after the Company receives such
notice or becomes aware of such ineligibility, (y) the Company delivers to the
Trustee a Company Order to the effect that this Note shall be exchangeable or
(z) an Event of Default has occurred and is continuing with respect to the
Notes, this Note shall be exchangeable for Notes in definitive form and in an
equal aggregate principal amount. Such definitive Notes shall be registered in
such name or names as the Depositary shall instruct the Trustee.

          As provided in the Indenture and subject to certain limitations set
forth therein and above, the transfer of this Note may be registered on the
Security Register of the Company, upon surrender of this Note for registration
of transfer at the office or agency of the Company in the Borough of Manhattan,
The City of New York, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company duly executed by, the Holder
hereof or by his attorney duly authorized in writing, and thereupon one or more
new Notes of authorized denominations and for the same aggregate principal
amount will be issued to the designated transferee or transferees.

          No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Note at the time, place and rate, and in the coin or currency,
herein and in the Indenture prescribed.

          No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

          Prior to due presentment of this Note for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

          Certain of the Company's obligations under the Indenture with respect
to Notes, may be terminated if the Company irrevocably deposits with the Trustee
money or Government Obligations sufficient to pay and discharge the entire
indebtedness on all Notes, as provided in the Indenture.

          No recourse shall be had for the payment of the principal of (and
premium, if any), or the interest, if any, on this Note, or for any claim based
thereon, or upon any obligation, covenant or agreement of the Company in the
Indenture, against any incorporator, stockholder, officer or director, as such,
past, present of future, of the Company or of any successor corporation, whether
by virtue of any constitution, statute or rule of law or by the enforcement of
any assessment of penalty or otherwise; and all such personal liability is
expressly released and waived as a condition of, and as part of the
consideration for, the issuance of this Note.

                                       7
<PAGE>

          The Indenture and the Notes shall be governed by and construed in
accordance with the laws of the State of New York.

                                       8
<PAGE>

                            ASSIGNMENT/TRANSFER FORM

          FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s),
assign(s) and transfer(s) unto (insert Taxpayer Identification No.)
                                                                   ------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
(Please print or typewrite name and address including postal zip code of
assignee)
-------------------------------------------------------------------------------
the within Note and all rights thereunder, hereby irrevocably constituting and
appointing                                          attorney to transfer said
           ----------------------------------------
Note on the books of the Company with full power of substitution in the
premises.

          Date:
                --------------------
                                               NOTICE: The signature of the
----------------------------------------------
registered Holder to this assignment must correspond with the name as written
upon the face of the within instrument in every particular, without alteration
or enlargement or any change whatsoever.

                                       9<PAGE>

                                                                    EXHIBIT 4(u)

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

                      GENERAL ELECTRIC CAPITAL CORPORATION

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

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

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

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

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

_______________________
/1/  Insert Principal Amount.

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

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

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

                      GENERAL ELECTRIC CAPITAL CORPORATION
                              EURO MEDIUM-TERM NOTE

                                  (Fixed Rate)

                                     SERIES:

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

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

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

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

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

                                       2
<PAGE>

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

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

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

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

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

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

                                       3
<PAGE>

     As used herein:

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

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

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

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

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

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

                                       4
<PAGE>

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

DATED:                        GENERAL ELECTRIC CAPITAL
                                  CORPORATION

[SEAL]                        By:_______________________________________
                                 Title:

Attest:

By:_____________________________________
     Title

CERTIFICATE OF AUTHENTICATION

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

THE CHASE MANHATTAN BANK,
     as Fiscal and Paying Agent

By:________________________________________________
     Authorized Officer

                                       5
<PAGE>

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

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

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

<TABLE>
<CAPTION>

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

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

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

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

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

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

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

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

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

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

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

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

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

                                       6
<PAGE>

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

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

                                  CERTIFICATE
                         ______________________________

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

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

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

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

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

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

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

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

                              [Name of Account Holder]

                              By:__________________________________
                                 (Authorized Signatory)

                              Name:
                              Title:
<PAGE>

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

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

                                  CERTIFICATE
                         ______________________________

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

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

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

                                                            EXHIBIT B-2
                                                                   ----
                                                                 Page 2

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

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

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

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

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

                             By:________________________________

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