By Sarah Lizee
Olympia, Wash., Sept. 30 – Toyota Motor Credit Corp. priced $40 million more step-up callable notes due Sept. 27, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer had previously priced $25 million of the notes.
The interest rate is 2.15% in years one and two, 2.3% in years three and four and 2.75% in year five. Interest is payable semiannually.
The payout at maturity is par.
Beginning Sept. 27, 2021, the notes are callable in whole at par semiannually.
Barclays is the agent.
The issuer said it may increase the principal amount prior to the settlement date but is not required to do so.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Step-up callable notes
|
| Amount: | $40 million
|
| Maturity: | Sept. 27, 2024
|
| Coupon: | 2.15% in years one and two, 2.3% in years three and four and 2.75% in year five; payable semiannually
|
| Price: | Par
|
| Call option: | In whole at par semiannually beginning Sept. 27, 2021
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 27
|
| Agent: | Barclays
|
| Fees: | 0.25%
|
| Cusip: | 89236TGH2
|
| Total issuance: | $65 million, including $25 million previously issued
|
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