By Angela McDaniels
Tacoma, Wash., March 18 - Toyota Motor Credit Corp. priced $50 million of fixed-rate step-up callable notes due March 20, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC is the agent.
The interest rate will be 2.25% for years one through five and 5.25% for years six through 10. Interest is payable semiannually.
The payout at maturity will be par.
Beginning March 20, 2019, the notes are callable quarterly at par.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Fixed-rate step-up callable notes
|
| Amount: | $50 million
|
| Maturity: | March 20, 2024
|
| Coupon: | 2.25% for years one through five and 5.25% for years six through 10; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning March 20, 2019, notes are callable quarterly at par
|
| Pricing date: | March 17
|
| Settlement date: | March 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 89236TBF1
|
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