By Sarah Lizee
Olympia, Wash., Aug. 15 – Toyota Motor Credit Corp. priced $200 million of fixed-to-floating notes due Aug. 21, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.85% initially. Beginning Feb. 21, 2019, interest will accrue at Libor plus 15 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, Aug. 21, but is not required to do so.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $200 million
|
| Maturity: | Aug. 21, 2020
|
| Coupon: | 2.85% initially; beginning Feb. 21, 2019, Libor plus 15 bps, with floor of 0%; payable quarterly
|
| Price: | Par
|
| Call option: | Non-callable
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 21
|
| Agent: | Barclays
|
| Fees: | 0.05%
|
| Cusip: | 89236TFK6
|
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