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Pricing Supplement dated February 9, 1996 Rule 424(b)(3)
(To Prospectus dated March 9, 1994 and File No. 33-52359
Prospectus Supplement dated March 9, 1994)
TOYOTA MOTOR CREDIT CORPORATION
Medium-Term Note - Fixed Rate
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Principal Amount: $10,000,000 Trade Date: February 9, 1996
Issue Price: 100% Original Issue Date: February 21, 1996
Interest Rate: 6.50% Net Proceeds to Issuer: $10,000,000
Interest Payment Dates: August 21 Principal's Discount or
and February 21, commencing Commission: 0.0%
August 21, 1996
Stated Maturity Date: February 21, 2007
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Day Count Convention:
[x] 30/360 for the period from February 21, 1996 to February 21, 2007
[ ] Actual/365 for the period from to
[ ] Other (see attached) to
Redemption:
[ ] The Notes cannot be redeemed prior to the Stated Maturity Date.
[x] The Notes may be redeemed prior to Stated Maturity Date.
Initial Redemption Date: February 21, 1997
Initial Redemption Percentage: 100%
Annual Redemption Percentage Reduction: Not applicable
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
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Smith Barney Inc.
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ADDITIONAL TERMS OF THE NOTES
Redemption
The Notes are subject to redemption by TMCC, in whole but
not in part, on the Initial Redemption Date stated above and on
each Interest Payment date thereafter subject to not less than 30
nor more than 60 days' prior notice.
Plan of Distribution
Under the terms of and subject to the conditions of an
Appointment Agreement dated as of February 9, 1996 (the
Agreement ) and an Appointment Agreement Confirmation dated
February 9, 1996 between TMCC and Smith Barney Inc., Smith Barney
Inc., acting as principal, has agreed to purchase and TMCC has
agreed to sell the Notes at 100.0% of their principal amount.
Smith Barney Inc. proposes to offer the Notes at an initial
public offering price of 100% of the principal amount thereof.
After the Notes are released for sale to the public, the offering
price may from time to time be varied by Smith Barney Inc.
Under the terms and conditions of the Agreement, Smith
Barney Inc. is committed to take and pay for all of the Notes
offered hereby if any are taken.
