By Marisa Wong
Morgantown, W.Va., June 26 – Toyota Motor Credit Corp. priced $25 million of fixed-to-floating notes due June 29, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.125% initially. Beginning June 29, 2020, interest will accrue at Libor plus 25 basis points. Interest is payable quarterly and cannot be less than zero.
The notes are non-callable.
Barclays is the agent.
The issuer said it may increase the principal amount prior to the settlement date, June 29, but is not required to do so.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Fixed-to-floating notes
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| Amount: | $25 million
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| Maturity: | June 29, 2022
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| Coupon: | 2.125% initially; beginning June 29, 2020, Libor plus 25 bps, floor of zero; payable quarterly
|
| Price: | Par
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| Call option: | Non-callable
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| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | Barclays
|
| Fees: | 0.3%
|
| Cusip: | 89236TEA9
|
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