Rule 424(b)(3)
Registration Statement No. 333-92258 and
333-98743
CUSIP # 12560PCN9
PRICING SUPPLEMENT NO. 6
Dated November 20, 2002 to
Prospectus, dated September 13, 2002 and
Prospectus Supplement, dated September 13, 2002.
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. $442,000,000.00.
Proceeds to Corporation: 99.94993% or $441,778,690.60.
Agent Commission: 0.05007% or $221,309.40.
Issue Price: 100.00% or $442,000,000.00.
Original Issue Date: November 25, 2002.
Maturity Date: November 25, 2003.
Interest Rate Basis: LIBOR Telerate.
Index Maturity: One month.
Spread: +125 basis points (1.25%).
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 November 25, 2002.
Barclays Capital Goldman, Sachs & Co.
Banc Of America Securities LLC Deutsche Bank Securities Inc.
Lehman Brothers JPMorgan
Wachovia Securities BNP PARIBAS
Salomon Smith Barney UBS Warburg
Form: Global Note.
Interest Reset Dates: Monthly on the 25th day of each month, commencing
December 27, 2002, 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: Monthly on the 25th day of each month, commencing
December 27, 2002, provided that if any such
day 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 Bridge Telerate, Inc. 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: Bank One Trust
Company, N.A.
Agents:
Agent Principal Amount
----- ----------------
Barclays Capital Inc. $175,000,000
Goldman, Sachs and Co. $107,000,000
Banc of America Securities LLC $41,000,000
Deutsche Bank Securities, Inc. $40,000,000
Lehman Brothers Inc. $40,000,000
J.P. Morgan Securities Inc. $20,000,000
Wachovia Securities Inc. $10,000,000
BNP Paribas Securities Corp. $5,000,000
Salomon Smith Barney Inc. $2,000,000
UBS Warburg LLC $2,000,000
------------
Total $442,000,000
CUSIP: 12560PCN9