New Issue: Toyota Motor Credit prices $25 million step-up callable notes due 2048

By Sarah Lizee

Olympia, Wash., April 18 – Toyota Motor Credit Corp. priced $25 million of fixed-rate step-up callable notes due April 27, 2048, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% initially, stepping up to 4.5% on April 27, 2033 and to 5% on April 27, 2043. Interest is payable semiannually.

The notes are callable in whole at par semiannually beginning April 27, 2023.

Barclays is the agent.

The issuer said it may increase the principal amount prior to the settlement date, April 27, but is not required to do so.

Issuer:	Toyota Motor Credit Corp.
Issue:	Fixed-rate step-up callable notes
Amount:	$25 million
Maturity:	April 27, 2048
Coupon:	4% initially, stepping up to 4.5% on April 27, 2033 and to 5% on April 27, 2043; payable semiannually
Price:	Par
Call option:	In whole at par semiannually beginning April 27, 2023
Pricing date:	April 18
Settlement date:	April 27
Agent:	Barclays
Fees:	0.625%
Cusip:	89236TEZ4

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