Rule 424(b)(3)
Registration Statement No. 333-98743 and
333-103966
CUSIP # 12560PDE8
PRICING SUPPLEMENT NO. 13
Dated February 18, 2004 to
Prospectus, dated May 9, 2003 and
Prospectus Supplement, dated May 9, 2003.
CIT GROUP INC.
GLOBAL MEDIUM-TERM FLOATING RATE NOTES
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
(X) Senior Note ( ) Senior Subordinated Note
Principal Amount: U.S. $1,000,000,000.00.
Proceeds to Corporation: 99.85243% or $998,524,300.00.
Agent Commission: 0.14757% or $1,475,700.00.
Issue Price: 100.00% or $1,000,000,000.00.
Original Issue Date: February 23, 2004.
Maturity Date: February 15, 2007.
Interest Rate Basis: LIBOR Telerate.
Index Maturity: Three months.
Spread: +20 basis points (0.20%).
Interest Rate Calculation: LIBOR Telerate determined on the Interest
Determination Date plus the Spread.
Initial Interest Rate: LIBOR Telerate determined two London Business Days prior
to the Original Issue Date plus the Spread.
Specified Currency: U.S. Dollars.
It is expected that the Notes will be ready for delivery in book-entry form on
or about February 23, 2004.
JPMorgan Lehman Brothers
Deutsche Bank Securities Credit Suisse First Boston
BNP PARIBAS Banc of America Securities LLC
UBS Investment Bank Barclays Capital
HSBC
Form: Global Note.
Interest Reset Dates: Quarterly on May 15, August 15, November 15 and
February 15 of each year, commencing May 15, 2004,
provided that if any Interest Reset Date would
otherwise fall on a day that is not a Business Day,
then the Interest Reset Date will be the first
following day that is a Business Day, except that if
such Business Day is in the next succeeding calendar
month, such Interest Reset Date will be the
immediately preceding Business Day.
Interest Payment Dates: Interest will be paid on the Maturity Date and
quarterly on May 15, August 15, November 15 and
February 15 of each year, commencing May 15, 2004,
provided that if any such day (other than the Maturity
Date) is not a Business Day, the Interest Payment Date
will be the next succeeding Business Day, except that
if such Business Day is in the next succeeding
calendar month, such Interest Payment Date will be the
immediately preceding Business Day, and no interest on
such payment will accrue for the period from and after
the Maturity Date.
Accrual of Interest: Accrued interest will be computed by adding the
Interest Factors calculated for each day from the
Original Issue Date or from the last date to which
interest has been paid or duly provided for up to but
not including the day for which accrued interest is
being calculated. The "Interest Factor" for any Note
for each such day will be computed by multiplying the
face amount of the Note by the interest rate
applicable to such day and dividing the product
thereof by 360.
Interest payments will include the amount of interest
accrued from and including the most recent Interest
Payment Date to which interest has been paid (or from
and including the Original Issue Date) to but
excluding the applicable Interest Payment Date.
Interest Determination Date: Two London Business Days prior to each Interest
Reset Date.
Calculation Date: The earlier of (i) the fifth Business Day after each Interest
Determination Date, or (ii) the Business Day immediately
preceding the applicable Interest Payment Date.
Maximum Interest Rate: Maximum rate permitted by New York law.
Minimum Interest Rate: 0.0%.
Exchange Listing: None.
Other Provisions:
"LIBOR Telerate" means the rate for deposits in U.S. dollars having the
Index Maturity specified above which appears on the Telerate Page 3750
(defined below) as of 11:00 a.m., London time, on the applicable Interest
Determination Date.
"Telerate Page 3750" means the display page designated as page 3750 on the
Moneyline Telerate service (or such other page as may replace page 3750 on
that service for the purpose of displaying London interbank offered rates).
"Business Day" means any day, other than a Saturday or Sunday, that is
neither a legal holiday nor a day on which banking institutions are
generally authorized or required by law or regulation to close in The City
of New York, which day is also a day on which dealings in deposits in U.S.
dollars are transacted in the London interbank market.
"London Business Day" means any day on which deposits in U.S. dollars are
transacted in the London interbank market.
Trustee, Registrar, Authenticating and Paying Agent: J.P. Morgan Trust
Company, National Association (as successor to Bank One Trust Company,
N.A.).
Agents:
Agent Principal Amount
----- ----------------
J.P. Morgan Securities Inc. $280,000,000
Lehman Brothers Inc. $250,000,000
Deutsche Bank Securities Inc. $105,000,000
Credit Suisse First Boston LLC $100,000,000
BNP Paribas Securities Corp. $75,000,000
Banc of America Securities LLC $50,000,000
UBS Securities LLC $50,000,000
Barclays Capital Inc. $50,000,000
HSBC Securities (USA) Inc. $40,000,000
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Total $1,000,000,000
CUSIP: 12560PDE8