Bond GAX 5.7% ( US36804PAH91 ) in USD

Issuer GAX
Market price 100 %  ⇌ 
Country  United States
ISIN code  US36804PAH91 ( in USD )
Interest rate 5.7% per year ( payment 2 times a year)
Maturity 15/04/2015 - Bond has expired



Prospectus brochure of the bond GATX US36804PAH91 in USD 5.7%, expired


Minimal amount 1 000 USD
Total amount 100 000 000 USD
Cusip 36804PAH9
Standard & Poor's ( S&P ) rating NR
Moody's rating NR
Detailed description GATX Corporation is a global leader in leasing and management of transportation equipment, including railcars, tank containers, and marine barges.

The Bond issued by GAX ( United States ) , in USD, with the ISIN code US36804PAH91, pays a coupon of 5.7% per year.
The coupons are paid 2 times per year and the Bond maturity is 15/04/2015

The Bond issued by GAX ( United States ) , in USD, with the ISIN code US36804PAH91, was rated NR by Moody's credit rating agency.

The Bond issued by GAX ( United States ) , in USD, with the ISIN code US36804PAH91, was rated NR by Standard & Poor's ( S&P ) credit rating agency.







e424b2
424B2 1 c93233b2e424b2.htm PROSPECTUS SUPPLEMENT
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (1 of 244)4/13/2005 12:40:50 PM


e424b2
Table of Contents
Filed Pursuant to Rule 424(b)(2)
Registration No. 333-105196
PROSPECTUS SUPPLEMENT
(To Prospectus Dated March 24, 2005)
$330,000,000
GATX Financial Corporation
$230,000,000 5.125% Senior Notes due 2010
$100,000,000 5.700% Senior Notes due 2015

The notes due 2010 will bear interest at the rate of 5.125% per year, and the notes due 2015 will bear interest at
the rate of 5.700% per year. Interest on each series of notes is payable on April 15 and October 15 of each year,
beginning on October 15, 2005. Each series of notes will mature on April 15 of its respective year of maturity. We
may redeem some or all of the notes at any time prior to maturity at a redemption price described under the caption
"Description of Notes -- Optional Redemption."
The notes will be senior obligations of our company and will rank equally with all of our other unsecured senior
indebtedness.

Investing in the notes involves risks. See "Risk Factors" beginning on page 4 of the
accompanying prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these notes or determined if this prospectus supplement or the accompanying prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
















Per Note

Per Note




due 2010

due 2015

Total







Public Offering Price

99.900%

99.668%

$329,438,000
Underwriting Discount

0.600%

0.650%

$2,030,000
Proceeds to GATX Financial (before




expenses)

99.300%

99.018%

$327,408,000
Interest on the notes will accrue from April 14, 2005 to date of delivery.

The underwriters expect to deliver the notes to purchasers on or about April 14, 2005.

Joint Book-Running Managers
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (2 of 244)4/13/2005 12:40:50 PM


e424b2
Citigroup
Calyon Securities
(USA)

Banc of America Securities LLC

Harris Nesbitt

KeyBanc Capital Markets

Piper Jaffray
April 11, 2005
You should rely only on the information contained in this prospectus supplement and the accompanying
prospectus. We have not authorized anyone to provide you with different information. We are not making an
offer of the notes in any state where the offer is not permitted. You should not assume that the information
contained in this prospectus supplement or the accompanying prospectus is accurate as of any date other than
their respective dates.

TABLE OF CONTENTS







Page



Prospectus Supplement
Use of Proceeds

S-3
Description of Notes

S-3
Concerning the Trustee

S-7
Underwriting

S-8
Legal Opinions

S-9

Prospectus
About This Prospectus


i
Disclosure Regarding Forward-Looking Statements


i
Summary


1
Risk Factors


4
Ratio of Earnings to Fixed Charges


7
Use of Proceeds


7
Selected Consolidated Financial Data


9
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (3 of 244)4/13/2005 12:40:50 PM


e424b2
Management's Discussion and Analysis of Financial Condition and Results of Operations


10
Business


38
Management


45
Security Ownership


53
Description of Debt Securities


53
Description of the Pass Through Certificates


58
Description of the Equipment Notes


69
ERISA Considerations


74
Certain Federal Income Tax Considerations related to the Pass Through Certificates


74
Plan of Distribution


76
Legal Matters


77
Experts


77
Where You Can Find More Information


77
Index to Financial Statements

F-1
Unless the context indicates otherwise, the words "GATX Financial", "GFC", the "Company", "we", "us" or
"our" refer to GATX Financial Corporation, its predecessors and subsidiaries. References to "GATX" refer to GATX
Corporation, our parent company.
S-2
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (4 of 244)4/13/2005 12:40:50 PM


e424b2
Table of Contents
USE OF PROCEEDS
The net proceeds to us from the sale of the notes offered by this prospectus supplement are estimated to be
approximately $327.1 million. We intend to use approximately $199 million of the proceeds to fund our offer to
purchase outstanding debt securities that mature in December 2006 and bear interest at rates ranging from 67/8% to
73/4%, and up to $80 million of the proceeds to repay floating rate indebtedness that currently bears interest at
4.1325% and matures in November 2005. We intend to use the remaining proceeds for general corporate purposes.
DESCRIPTION OF NOTES
The following description of the particular terms of the notes offered by this prospectus supplement augments,
and to the extent inconsistent replaces, the description of the general terms and provisions of the debt securities under
"Description of Debt Securities" in the accompanying prospectus.
General
The notes will be senior securities as described in the accompanying prospectus. We will issue the notes under an
indenture dated as of November 1, 2003 (the "Indenture") between us and JPMorgan Chase Bank, N.A., as Trustee.
The Indenture does not limit the amount of additional unsecured indebtedness ranking equally and ratably with the
notes that we may incur. We may, from time to time, without the consent of the holders of the notes, issue notes
under the Indenture in addition, and with identical terms, to the notes of either series offered by this prospectus
supplement. The statements in this prospectus supplement concerning the notes and the Indenture are not complete
and you should refer to the provisions in the Indenture, which are controlling. Whenever we refer to provisions of the
Indenture, those provisions are incorporated in this prospectus supplement by reference as a part of the statements we
are making, and the statements are qualified in their entirety by these references.
Maturity
The notes due 2010 will mature on April 15, 2010, and the notes due 2015 will mature on April 15, 2015.
Interest
The notes due 2010 will bear interest at the rate of 5.125% per year, and the notes due 2015 will bear interest at
the rate of 5.700% per year. Interest will accrue from April 14, 2005 or from the most recent date to which interest
has been paid or provided for. We will pay interest on April 15 and October 15 of each year to the person in whose
name the note is registered at the close of business on the preceding April 1 or October 1, except that the interest
payable on the maturity date, or, if applicable, upon redemption, will be payable to the person to whom the principal
on the note is payable. We will make the first payment on October 15, 2005.
Interest on the notes will be computed on the basis of a 360-day year of twelve 30-day months. Payments of
interest and principal will be made in United States dollars.
Ranking
The notes will be senior obligations of our company and will rank equally with all of our other unsecured senior
indebtedness.
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (5 of 244)4/13/2005 12:40:50 PM


e424b2
Denominations
The authorized denominations of the notes will be $1,000 or any amount in excess of $1,000 which is an integral
multiple of $1,000. No service charge will be made for any registration of transfer or exchange
S-3
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (6 of 244)4/13/2005 12:40:50 PM


e424b2
Table of Contents
of the notes, but we may require payment of a sum sufficient to cover any tax or other governmental charges that
may be imposed in connection with the transaction.
Optional Redemption
Each series of notes will be redeemable in whole or in part at any time and from time to time, at our option, at a
redemption price equal to the greater of:

· 100% of the principal amount of the notes to be redeemed; and


· the sum of the present values of the remaining scheduled payments of principal and interest on the notes
(exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 15 basis
points in the case of the notes due 2010 and 20 basis points in the case of the notes due 2015,
plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the date of redemption.
"Adjusted Treasury Rate" means, with respect to any redemption date, the rate per year equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date.
"Business Day" means any day other than a Saturday or Sunday and other than a day on which banking
institutions in Chicago, Illinois, or New York, New York, are authorized or obligated by law or executive order to
close.
"Comparable Treasury Issue" means the United States Treasury security selected by the Quotation Agent as
having a maturity comparable to the remaining term of the notes to be redeemed that would be used, 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 term of such notes.
"Comparable Treasury Price" means, with respect to any redemption date, the average of the Reference Treasury
Dealer Quotations for that redemption date.
"Quotation Agent" means one of the Reference Treasury Dealers appointed by us.
"Reference Treasury Dealer" means each of Citigroup Global Markets Inc. and Banc of America Securities LLC
and their respective successors; provided, however, that if either of the foregoing or their successors shall cease to be
a primary U.S. Government securities dealer in New York City (a "Primary Treasury Dealer"), we will substitute for
it another nationally recognized investment bank that is a Primary Treasury Dealer.
"Reference Treasury Dealer Quotations" means, with respect to each Reference Treasury Dealer and any
redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation
Agent at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date.
We will mail notice of a redemption to holders of notes by first-class mail at least 30 and not more than 60 days
prior to the date fixed for redemption. If fewer than all of the notes of either series are to be redeemed, the trustee
will select, not more than 60 days prior to the redemption date, the particular notes or portions thereof for redemption
from the outstanding notes not previously called by such method as the trustee deems fair and appropriate.
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (7 of 244)4/13/2005 12:40:51 PM


e424b2
S-4
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (8 of 244)4/13/2005 12:40:51 PM


e424b2
Table of Contents
Discharge, Defeasance and Covenant Defeasance
The notes are not subject to defeasance or covenant defeasance.
Registration, Transfer and Exchange
We appointed the trustee as securities registrar for the purpose of registering the notes and transfers and
exchanges of the notes and, subject to the terms of the Indenture, the notes may be presented for registration of
transfer and exchange at the offices of the trustee.
Book-Entry; Delivery and Form
Global Notes
We will issue each series of notes in fully registered form without coupons and each series of notes will be
represented by a global note (a "Global Note") registered in the name of a nominee of the depositary. Except as set
forth in this prospectus supplement, notes will be issuable only in global form. Upon issuance, all notes of each series
will be represented by one or more fully registered Global Notes. Each Global Note will be deposited with, or on
behalf of, the depositary and registered in the name of the depositary or its nominee. Your beneficial interest in a note
will be shown on, and transfers of beneficial interests will be effected only through, records maintained by the
depositary or its participants. Payments of principal of, premium, if any, and interest, if any, on, notes represented by
a Global Note will be made by us or our paying agent to the depositary or its nominee. The Depository Trust
Company ("DTC") will be the initial depositary.
The Depositary
DTC will be the initial depositary with respect to the notes. DTC has advised us and the underwriters that it is a
limited-purpose trust company organized under the laws of the State of New York, a member of the Federal Reserve
System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code and a "clearing
agency" registered under the Securities and Exchange Act of 1934, as amended. DTC was created to hold securities
of its participants and to facilitate the clearance and settlement of securities transactions among its participants in
those securities through electronic book-entry changes in accounts of the participants, thereby eliminating the need
for physical movement of securities certificates.
DTC's participants include securities brokers and dealers (including the underwriters), banks, trust companies,
clearing corporations and certain other organizations, some of whom, and /or their representatives, own DTC. Access
to DTC's book-entry system is also available to others, such as banks, brokers, dealers and trust companies that clear
through or maintain a custodial relationship with a participant, either directly or indirectly. Persons who are not
participants may beneficially own securities held by DTC only through participants. The rules applicable to DTC and
its participants are on file with the Securities and Exchange Commission.
Ownership of Global Notes
When we issue the notes represented by a Global Note, the depositary will credit, on its book-entry registration
and transfer system, the participants' accounts with the principal amounts of the notes represented by the Global Note
beneficially owned by the participants. The accounts to be credited will be designated by the underwriter of those
notes. Ownership of beneficial interests in a Global Note will be limited to participants or persons that hold interests
through participants. Ownership of beneficial interests in notes represented by a Global Note will be limited to
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (9 of 244)4/13/2005 12:40:51 PM


e424b2
participants or persons that hold interests through participants. Ownership of beneficial interests in notes represented
by a Global Note or Global Notes will be shown on, and the transfer of that ownership will be effected only through,
records maintained by the depositary, or by participants in the depositary or persons that may hold interests through
participants. The
S-5
http://www.sec.gov/Archives/edgar/data/357019/000095013705004344/c93233b2e424b2.htm (10 of 244)4/13/2005 12:40:51 PM


Document Outline