New Issue: Toyota prices $5 million Libor range accrual notes via Merrill Lynch

By Angela McDaniels

Seattle, Oct. 16 - Merrill Lynch, Pierce, Fenner & Smith Inc. priced $5 million of Libor range accrual notes due Oct. 24, 2022 for issuer Toyota Motor Credit Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly and equals 8.125% per year multiplied by the proportion of days during the interest period that six-month Libor is at least 0% and no more than 7%.

The notes are callable at par on any interest payment date beginning Oct. 24, 2008.

Issuer:	Toyota Motor Credit Corp.
Issue:	Range accrual notes
Amount:	$5 million
Maturity:	Oct. 24, 2022
Coupon:	8.125% per year times the proportion of days that six-month Libor is at least 0% and no more than 7%; payable quarterly
Price:	Par
Payout at maturity:	Par
Call:	On interest payment dates beginning Oct. 24, 2008
Pricing date:	Oct. 12
Settlement date:	Oct. 24
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	None

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