Genworth Global Funding Trust 2005-A Inactive
Filed: 19 Dec 05, 12:00am
Filed pursuant to Rule 424(b)(2)
Registration Statement No. 333-128718
| Pricing | Supplement No. 1 Dated December 15, 2005 |
(To Prospectus dated December 9, 2005, and
Prospectus Supplement dated December 9, 2005)
CUSIP: 37247XAA0
GE Life and Annuity Assurance Company
Secured Medium-Term Notes
Issued Through
Genworth Global Funding Trust 2005-A (the “Trust”)
The description in this pricing supplement of the particular terms of the Secured Medium-Term Notes offered hereby, and the Funding Agreement (specified below) issued by GE Life and Annuity Assurance Company (“GELAAC”) to the Trust, supplements the description of the general terms and provisions of the notes and the funding agreements set forth in the accompanying prospectus and prospectus supplement, to which reference is hereby made. Effective as of January 1, 2006, all references in this Pricing Supplement to “GE Life and Annuity Assurance Company” or “GELAAC” shall be changed to “Genworth Life and Annuity Insurance Company” or “GLAIC”, respectively.
| 1. | The Notes |
Principal Amount: $300,000,000.00 | Agent(s) Discount: 0.35% | |
Issue Price: 100% | Original Issue Date: December 21, 2005 | |
Net Proceeds to the Trust: $298,950,000.00 | Stated Maturity Date: December, 15, 2010 | |
Specified Currency: U.S. Dollars
Interest Payment Dates: The 15th of day of each March, June, September, and December
Initial Interest Payment Date: March 15, 2006
Regular Record Date: 15 calendar days prior to the Interest Payment Date
Type of Interest Rate:¨ Fixed Rate x Floating Rate
Fixed Rate Notes:¨ Yes x No. If Yes,
Interest Rate:
Floating Rate Notes:x Yes ¨ No. If Yes,
Floating Rate Notes:x Yes ¨ No. If Yes,
Interest Rate: 3-month LIBOR + 0.16%
Interest Rate Basis(es): LIBOR
Floating Rate/Fixed Rate Notes:¨ Yesx No. If Yes,
Floating Interest Rate:
Interest Rate Basis(es):
Fixed Interest Rate:
Fixed Rate Commencement Date:
Fixed Rate/Floating Rate Notes:¨ Yesx No. If Yes,
Fixed Interest Rate:
Floating Interest Rate:
Interest Rate Basis(es):
Floating Rate Commencement Date:
Inverse Floating Rate Notes:¨ Yesx No. If Yes,
Fixed Interest Rate:
Floating Interest Rate:
Interest Rate Basis(es):
Initial Interest Rate, if any: The Initial Interest Rate in effect as of the Original Issue Date, shall be determined on December 19, 2005, the second London Banking Day preceding the Original Issue Date
Initial Interest Reset Date: March 15, 2006
Interest Rate Basis(es). Check all that apply:
¨ CD Rate | ¨ CMT Rate | |||||||||||||
¨ Commercial Paper Rate | ¨ Eleventh District Cost of Funds Rate | |||||||||||||
¨ EURIBOR | ¨ Federal Funds Rate | |||||||||||||
x LIBOR | ¨ Prime Rate | |||||||||||||
¨ Treasury Rate | ||||||||||||||
If LIBOR:¨ LIBOR Reuters | x LIBOR Moneyline Telerate | |||||||||||||
LIBOR Currency: U.S. Dollars | ||||||||||||||
If CMT Rate: | ||||||||||||||
Designated CMT Telerate Page: | ||||||||||||||
If 7052:¨ Weekly Average ¨ Monthly Average | ||||||||||||||
Designated CMT Maturity Index: | ||||||||||||||
Index Maturity: 3-month
Spread (+/-): + 0.16%
Spread Multiplier: Not applicable
Interest Reset Date(s): Each Interest Payment Date
Interest Rate Determination Date(s): The date that is two (2) London Banking Days prior to the related Interest Reset Date
Maximum Interest Rate, if any: Not applicable
Minimum Interest Rate, if any: Not applicable
Calculation Agent, if any: JPMorgan Chase Bank, N.A.
Exchange Rate Agent, if any: Not applicable
Computation of Interest (not applicable unless different than as specified in the prospectus and prospectus supplement):
Day Count Convention (not applicable unless different than as specified in the prospectus and prospectus supplement):
Amortizing Notes:¨ Yesx No. If Yes,
Amortizing Schedule:
Additional/Other Terms:
Discount Notes:¨ Yesx No. If Yes,
Total Amount of Discount:
Initial Accrual Period of Discount:
Additional/Other Terms:
Redemption Provisions:¨ Yesx No. If Yes,
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction (if any):
Redemption:¨ In whole only and not in part
¨ May be in whole or in part
Additional/Other Terms:
Repayment:¨ Yesx No. If Yes,
Repayment Date(s):
Repayment Price:
Repayment:¨ In whole only and not in part
¨ May be in whole or in part
Additional/Other Terms:
Sinking Fund (not applicable unless specified): Not applicable
Additional Amounts to be Paid for Withholding Tax (not applicable unless specified): Not applicable
Securities Exchange Listing:x Yes [ ] No. If Yes, Name of Exchange: New York Stock Exchange
Authorized Denominations: $1,000
Ratings: The Notes issued under the Program are rated AA- by Standard & Poor’s (“S&P”). GELAAC expects the Notes to be rated Aa3 by Moody’s Investors Service, Inc. (“Moody’s”).
Agent(s) Purchasing Notes as Principal:x Yes¨ No. If Yes,
Agent(s) | Principal Amount | ||
Morgan Stanley & Co. Incorporated | $ | 240,000,000 | |
Bear, Stearns & Co. Inc. | $ | 30,000,000 | |
Credit Suisse First Boston LLC | $ | 30,000,000 | |
Total: | $ | 300,000,000 | |
Agent(s) Acting as Agent:¨ Yesx No. If Yes,
Agent(s) | Principal Amount | |
Total: |
Jurisdiction of Organization of the Trust: Illinois
Additional/Other Terms, if any: Not applicable
Special Tax Considerations, if any: Not applicable
| 2. | The Funding Agreement |
Funding Agreement Issuer: GELAAC
Funding Agreement No.: GS-I6000
Deposit Amount: $300,000,015.00
Issue Price: 100%
Net Deposit Amount: $298,950,000.00
Effective Date: December 21, 2005
Stated Maturity Date: December 15, 2010
Specified Currency: U.S. Dollars
Interest Payment Dates: The 15th day of each March, June, September and December
Initial Interest Payment Date: March 15, 2006
| Type | of Interest Rate:¨ Fixed Ratex Floating Rate |
Fixed Rate Funding Agreement:¨ Yesx No. If Yes,
Interest Rate:
Floating Rate Funding Agreement:x Yes¨ No. If Yes,
Floating Rate Funding Agreement:x Yes¨ No. If Yes,
Interest Rate: 3-month LIBOR + 0.16%
Interest Rate Basis(es): LIBOR
Floating Rate/Fixed Rate Funding Agreement:¨ Yesx No. If Yes,
Floating Interest Rate:
Interest Rate Basis(es):
Fixed Interest Rate:
Fixed Rate Commencement Date:
Fixed Rate/Floating Rate Funding Agreement:¨ Yesx No. If Yes,
Fixed Interest Rate:
Floating Interest Rate:
Interest Rate Basis(es):
Floating Rate Commencement Date:
Inverse Floating Rate Funding Agreement:¨ Yesx No. If Yes,
Fixed Interest Rate:
Floating Interest Rate:
Interest Rate Basis(es):
Initial Interest Rate, if any: The Initial Interest Rate in effect as of the Original Issue Date, shall be determined on December 19, 2005, the second London Banking Day preceding the Original Issue Date
Initial Interest Reset Date: March 15, 2006
Interest Rate Basis(es). Check all that apply:
¨ CD Rate | ¨ CMT Rate | |||||||||||||
¨ Commercial Paper Rate | ¨ Eleventh District Cost of Funds Rate | |||||||||||||
¨ EURIBOR | ¨ Federal Funds Rate | |||||||||||||
x LIBOR | ¨ Prime Rate | |||||||||||||
¨ Treasury Rate | ||||||||||||||
If LIBOR:¨ LIBOR Reuters | x LIBOR Moneyline Telerate | |||||||||||||
LIBOR Currency: U.S. Dollars | ||||||||||||||
If CMT Rate: | ||||||||||||||
Designated CMT Telerate Page: | ||||||||||||||
If 7052:¨ Weekly Average ¨ Monthly Average | ||||||||||||||
Designated CMT Maturity Index: | ||||||||||||||
Index Maturity: 3-month
Spread (+/-): +0.16%
Spread Multiplier: Not applicable
Interest Reset Date(s): Each Interest Payment Date
Interest Rate Determination Date(s): The date that is two (2) London Banking Days prior to the related Interest Reset Date
Maximum Interest Rate, if any: Not applicable
Minimum Interest Rate, if any: Not applicable
Calculation of Interest (not applicable unless different than as specified in the prospectus and prospectus supplement):
Day Count Convention (not applicable unless different than as specified in the prospectus and prospectus supplement):
Amortizing Funding Agreement:¨ Yesx No. If Yes,
Amortizing Schedule:
Additional/Other Terms:
Discount Funding Agreement:¨ Yesx No. If Yes,
Total Amount of Discount:
Initial Accrual Period of Discount:
Additional/Other Terms:
Redemption Provisions:¨ Yesx No. If Yes,
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction (if any):
Redemption:¨ In whole only and not in part
¨ May be in whole or in part
Additional/Other Terms:
Repayment:¨ Yesx No. If Yes,
Repayment Date(s):
Repayment Price:
Repayment:¨ In whole only and not in part
¨ May be in whole or in part
Additional/Other Terms:
Sinking Fund (not applicable unless specified): Not applicable
Additional Amounts to be Paid For Withholding Tax (not applicable unless specified): Not applicable
Ratings: The Funding Agreement issued under the Program is rated AA- by S&P.
GELAAC expects the Funding Agreement to be rated Aa3 by Moody’s.
Additional/Other Terms, if any: Not applicable
Special Tax Considerations, if any: Not applicable