By Sarah Lizee
Olympia, Wash., May 23 – Toyota Motor Credit Corp. priced $60 million of fixed-to-floating notes due June 3, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.75% initially. Beginning June 3, 2019, interest will accrue at Libor plus 20 basis points. Interest is payable quarterly and cannot be less than zero.
The notes are non-callable.
TD Securities (USA) LLC is the agent.
The issuer said it may increase the principal amount prior to the settlement date, May 24, but is not required to do so.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $60 million
|
| Maturity: | June 3, 2020
|
| Coupon: | 2.75% initially; beginning June 3, 2019, Libor plus 20 bps, floor of zero; payable quarterly
|
| Price: | Par
|
| Call option: | Non-callable
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| Pricing date: | May 22
|
| Settlement date: | May 24
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 89236TEX9
|
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