424B3 1 mtn482b.txt Pricing Supplement dated September 4, 2002 Rule 424(b)(3) (To Prospectus dated April 3, 2002 and File No. 333-84692 Prospectus Supplement dated April 4, 2002) TOYOTA MOTOR CREDIT CORPORATION Medium-Term Note - Floating Rate ____________________________________________________________________________________ Principal Amount: $250,000,000 Trade Date: September 4, 2002 Issue Price: See "Plan of Distribution" Original Issue Date: September 9, 2002 Initial Interest Rate: See "Additional Net Proceeds to Issuer: $249,778,375 Terms of the Notes -- Interest" Principal's Discount Interest Payment Period: Monthly or Commission: 0.08865% Stated Maturity Date: September 9, 2005 ____________________________________________________________________________________ Calculation Agent: Deutsche Bank Trust Company Americas Interest Calculation: [X] Regular Floating Rate Note [ ] Floating Rate/Fixed Rate Note [ ] Inverse Floating Rate Note (Fixed Rate Commencement (Fixed Interest Rate): Date): [ ] Other Floating Rate Note (Fixed Interest Rate): (see attached) Interest Rate Basis: [ ] CD Rate [ ] Commercial Paper Rate [ ] Prime Rate [ ] Eleventh District Cost of Funds Rate [ ] Federal Funds Rate [X] LIBOR [ ] Treasury Rate [ ] Other (see attached) If LIBOR, Designated LIBOR Page: [ ] Reuters Page: [X] Telerate Page: 3750 Initial Interest Reset Date: October 9, 2002 Spread (+/-): +0.06 Interest Rate Reset Period: Monthly Spread Multiplier: N/A Interest Reset Dates: the 9th of each Maximum Interest Rate: N/A calendar month, commencing October 9, 2002 Interest Payment Dates: the 9th of each Minimum Interest Rate: N/A calendar month, commencing October 9, 2002 Index Maturity: 1 month Index Currency: U.S. dollars Day Count Convention: [ ] 30/360 for the period from to [X] Actual/360 for the period from September 9, 2002 to September 9, 2005 [ ] Other (see attached) Redemption: [X] The Notes cannot be redeemed prior to the Stated Maturity Date. [ ] The Notes may be redeemed prior to Stated Maturity Date. Initial Redemption Date: N/A Initial Redemption Percentage: N/A Annual Redemption Percentage Reduction: N/A Repayment: [X] The Notes cannot be repaid prior to the Stated Maturity Date. [ ] The Notes can be repaid prior to the Stated Maturity Date at the option of the holder of the Notes. Optional Repayment Date(s): Repayment Price: % Currency: Specified Currency: U.S. dollars (If other than U.S. dollars, see attached) Minimum Denominations: (Applicable only if Specified Currency is other than U.S. dollars) Original Issue Discount: [ ] Yes [X] No Total Amount of OID: Yield to Maturity: Initial Accrual Period: Form: [X] Book-entry [ ] Certificated
___________________________ Merrill Lynch & Co. ADDITIONAL TERMS OF THE NOTES Interest The Initial Interest Rate for the Medium-Term Notes offered by this pricing supplement will be equal to one month LIBOR determined on September 5, 2002 plus 0.06%. Plan of Distribution Under the terms of and subject to the conditions of a terms agreement under a First Amended and Restated Distribution Agreement dated September 3, 1998 between TMCC and Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill"), Credit Suisse First Boston Corporation, Goldman, Sachs & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and Salomon Smith Barney Inc., as amended by Amendment No. 1 thereto, dated January 12, 2000, Amendment No. 2 thereto, dated August 24, 2001 and Amendment No. 3 thereto, dated April 4, 2002 (as amended, the "Agreement"), Merrill, acting as principal, has agreed to purchase and TMCC has agreed to sell the Notes at 99.91135% of their principal amount. Merrill may resell the Notes to one or more investors or to one or more broker-dealers (acting as principal for the purposes of resale) at varying prices related to prevailing market prices at the time of resale, as determined by Merrill. Under the terms and conditions of the Agreement, Merrill is committed to take and pay for all of the Notes offered hereby if any are taken.