Issuer:
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Toyota Motor Credit Corporation
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Security:
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Floating Rate Medium Term Notes, Series B
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Issuer Senior Long-Term
Debt Ratings:
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Aa3 (stable outlook) / AA- (stable outlook)
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CUSIP:
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89236TCW3
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Pricing Date:
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March 21, 2016
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Settlement Date:
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March 24, 2016
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Maturity Date:
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March 27, 2017
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Principal Amount:
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$350,000,000 (may be increased prior to the Settlement Date)
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Price to Public:
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100.000%
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Commission:
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0.030%
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Net Proceeds to Issuer:
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99.970% / $349,895,000
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Floating Rate Index:
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3 Month LIBOR
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Floating Rate Spread:
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+33 basis points
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Index Source:
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LIBOR Reuters
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Interest Payment Frequency:
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Quarterly
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Initial Interest Rate:
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The initial interest rate will be based on 3 month LIBOR determined on March 22, 2016 plus the Floating Rate Spread.
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Interest Payment Dates:
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Each March 27, June 27, September 27 and December 27, beginning on June 27, 2016 and ending on the Maturity Date
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Interest Reset Dates:
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The first interest reset date shall be the Settlement Date and thereafter, each Interest Payment Date. Newly reset interest rates shall apply beginning on and including the Interest Reset Date, to but excluding the next Interest Payment Date.
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Interest Determination Date:
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Second London Banking Day preceding each Interest Reset Date
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Day Count Convention:
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Actual/360
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Business Day Convention:
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Modified Following, adjusted
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Business Days:
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New York and London
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Governing Law:
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New York
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Calculation Agent:
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Deutsche Bank Trust Company Americas
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Minimum Denominations:
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$1,000 and $1,000 increments thereafter
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Agents/DTC Numbers:
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Merrill Lynch, Pierce, Fenner & Smith Incorporated/#773
U.S. Bancorp Investments, Inc./#280
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