By Sarah Lizee
Olympia, Wash., Nov. 15 – Toyota Motor Credit Corp. priced $25 million of step-up callable notes due Nov. 21, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.125% initially, stepping up to 2.25% on Nov. 21, 2022.
Interest is payable semiannually.
The payout at maturity is par.
Beginning Nov. 21, 2022, the notes are callable in whole at par quarterly.
Credit Agricole Securities (USA) Inc. 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.
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| Issue: | Step-up callable notes
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| Amount: | $25 million
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| Maturity: | Nov. 21, 2024
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| Coupon: | 2.125% initially, stepping up to 2.25% on Nov. 21, 2022; payable semiannually
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| Price: | Par
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| Call option: | In whole at par quarterly beginning Nov. 21, 2022
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 21
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| Agent: | Credit Agricole Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 89236TGQ2
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