Published on 3/11/2015 in the Prospect News Structured Products Daily.
New Issue: Toyota Motor Credit prices $50 million step-up callable notes with 1.25% initial rate
By Susanna Moon
Chicago, March 11 – Toyota Motor Credit Corp. priced $50 million of fixed-rate step-up callable notes due March 19, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
Barclays is the agent.
Interest will be 1.25% for the first two years, stepping up to 2% on March 19, 2017. Interest is payable semiannually.
The notes are callable at par on March 19, 2017.
The payout at maturity will be par.
| Issuer: | Toyota Motor Credit Corp.
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| Issue: | Fixed-rate step-up callable notes
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| Amount: | $50 million
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| Maturity: | March 19, 2018
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| Coupon: | 1.25% initially, stepping up to 2% on March 19, 2017; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on March 19, 2017
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| Pricing date: | March 11
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| Settlement date: | March 19
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| Agent: | Barclays
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| Fees: | 0.25%
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| Cusip: | 89236TCH6
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