Rule 424(b)(2)

Registration No. 333-157642

Pricing Supplement dated February 14, 2011

(To Prospectus dated March 2, 2009

and Prospectus Supplement dated March 10, 2009)

TOYOTA MOTOR CREDIT CORPORATION

Medium-Term Notes, Series B - Floating Rate

Capitalized terms used in this Pricing Supplement that are defined in the

Prospectus Supplement shall have the meanings assigned to them in the

Prospectus Supplement.

CUSIP: 89233P4Y9

Principal Amount (in Specified Currency): $20,000,000.  TMCC may increase the Principal Amount prior to the Original Issue Date but is not required to do so.

Issue Price: 100%

Initial Trade Date: February 14, 2011

Original Issue Date: February 17, 2011

Stated Maturity Date: February 17, 2016

Initial Interest Rate: Three month LIBOR determined on February 15, 2011 plus 0.45%, accruing from February 17, 2011

Interest Payment Dates: The 17th of each May, August, November and February, commencing on May 17, 2011, and on the Stated Maturity Date

Net Proceeds to Issuer: $19,970,000

Agent: Citigroup Global Markets Inc.

Agent’s Discount or Commission: 0.15%

Agent’s Capacity:

    o Agent

    x Principal

Calculation Agent: Deutsche Bank Trust Company Americas

Interest Calculation:

x Regular Floating Rate Note

o Inverse Floating Rate Note:

Fixed Interest Rate:

o Floating Rate/Fixed Rate Note:

Fixed Interest Rate:

Fixed Rate Commencement Date:

o Other Floating Rate Note

(See attached Addendum)

Interest Rate Basis:

o CD Rate

o CMS Rate

o CMT Rate

o Commercial Paper Rate

o Eleventh District Cost of Funds Rate

o Federal Funds Rate

o Federal Funds Open Rate

x LIBOR

o Prime Rate

o Treasury Rate

o Other (see attached Addendum)

If CMS:

Designated CMS Maturity Index:

If CMT:

Designated CMT Maturity Index:

Designated CMT Reuters Page:

o T7051

o T7052

If LIBOR:

Designated LIBOR Page:  Reuters

Index Currency:  U.S. dollars

If CD Rate or LIBOR

Index Maturity:  3 month

Spread (+/-):  +0.45%

Spread Multiplier:  N/A

Maximum Interest Rate:  N/A

Minimum Interest Rate:  N/A

Initial Interest Reset Date: May 17, 2011

Interest Rate Reset Period: Quarterly

Interest Reset Dates: Each Interest Payment Date

Interest Rate Reset Cutoff Date: N/A

Interest Determination Date: The second London Banking Day preceding each Interest Reset Date

Day Count Convention:

o 30/360

x Actual/360

o Actual/Actual

Business Day Convention

o Following

x Modified Following, adjusted

Redemption:  Not Applicable

Redemption Date(s):

Notice of Redemption:

Repayment:  Not Applicable

Optional Repayment Date(s):

Repayment Price:

Original Issue Discount:  Not Applicable

Total Amount of Original Issue Discount:

Yield to Maturity:

Initial Accrual Period:

Specified Currency:  U.S. dollars

Minimum Denomination/Minimum Incremental Denomination:  $1,000 and $1,000 increments thereafter

If a Reopening Note, check [   ], and specify:

Initial Interest Accrual Date: