By Toni Weeks
San Luis Obispo, Calif., Jan. 29 - Toyota Motor Credit Corp. priced $25 million of medium-term fixed-rate/capped floating-rate notes due Feb. 4, 2015, according to a 424B2 filing with the Securities and Exchange Commission.
The notes initially bear interest at 0.5% per year. Beginning on Feb. 4, 2014, the notes will bear interest at Libor plus 10 basis points, subject to a cap of 0.75%. Interest is payable quarterly.
The notes are non-callable.
RBC Capital Markets, LLC is the agent.
The funding arm of Toyota is based in Torrance, Calif.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Medium-term fixed-rate/capped floating-rate notes
|
| Amount: | $25 million
|
| Maturity: | Feb. 4, 2015
|
| Coupon: | 0.5% per year initially; beginning on Feb. 4, 2014, Libor plus 10 bps, capped at 0.75%; payable quarterly
|
| Price: | Par
|
| Call: | Non-callable
|
| Trade date: | Jan. 28
|
| Settlement date: | Feb. 4
|
| Fees: | 0.5%
|
| Agent: | RBC Capital Markets, LLC
|
| Cusip: | 89233P7L4
|
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