Rule 424(b)(3)
Registration Statement No. 333-119172
CUSIP 12560PDU2
PRICING SUPPLEMENT NO. 11
Dated May 9, 2005 to
Prospectus, dated October 28, 2004 and
Prospectus Supplement, dated October 29, 2004
CIT GROUP INC.
GLOBAL MEDIUM-TERM FLOATING RATE NOTES
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
(X) Senior Note ( ) Subordinated Note
Principal Amount: $1,000,000,000.
Proceeds to Corporation: 99.95023% or $999,502,300.
Agents' Commission: 0.04977% or $497,700.
Issue Price: 100% or $1,000,000,000.
Original Issue Date: May 12, 2005.
Maturity Date: May 12, 2006, provided that if such
day is not a Business Day, the payment of
principal and interest may be made on the
following day which is a Business Day as
if it were made on the date that the
payment was due, and no interest on such
payment will accrue from the period from
and after the Maturity Date.
Interest Rate Basis: LIBOR Telerate.
Index Maturity: Three months.
Spread: +1 basis point (0.01%).
Interest Rate Calculation: LIBOR Telerate determined on the Interest
Determination Date plus the Spread.
Initial Interest Rate: LIBOR Telerate determined two London Business
Days prior to the Original
Issue Date plus the Spread.
Specified Currency: U.S. Dollars ($).
It is expected that the Notes will be ready for delivery in book-entry form on
or about May 12, 2005.
Lehman Brothers ABN AMRO Incorporated
Wachovia Securities Barclays Capital
HSBC The Williams Capital Group, L.P.
Form: Global Note.
Interest Reset Dates: Quarterly, on August 12, 2005, November 12, 2005
and February 12, 2006, provided that if any such
day would otherwise fall on a day that is not a
Business Day, then the Interest Reset Date will be
the next succeeding 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 August 12, 2005, November
12, 2005, February 12, 2006, and on the Maturity
Date provided that if any such day (other than the
Maturity Date) is not a Business Day, then the
Interest Payment Date will be postponed to the
following day which is a 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. If the
Maturity Date falls on a day which is not a
Business Day, then the required payment of
principal, premium, if any, and/or interest will
be made on the following day which is a Business
Day as if it were made on the date such payment
was due, and no interest shall accrue as a result
of such delayed payment.
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 Determination Date: Two London Business Days prior to each Interest
Reset 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 authorized or required by law or regulation
(including any executive order) to close in The
City of New York and that is also a London
Business Day.
"London Business Day" means any day on which
dealings in deposits in U.S. dollars are
transacted in the London interbank market.
Trustee, Registrar, J.P. Morgan Trust Company, National Association.
Authenticating
Agent, Calculation
Agent and Paying Agent:
2
Agents: Agent Principal Amount
----- ----------------
Lehman Brothers Inc............................. $ 250,000,000
ABN AMRO Incorporated........................... 200,000,000
Wachovia Capital Markets, LLC................... 199,000,000
Barclays Capital Inc............................ 160,000,000
HSBC Securities (USA) Inc....................... 121,000,000
The Williams Capital Group, L.P................. 70,000,000
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Total $1,000,000,000
CUSIP: 12560PDU2.
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