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Pricing Supplement dated September 15, 1999 Rule 424(b)(3)
(To Prospectus dated September 3, 1998 and File No. 333-60913
Prospectus Supplement dated September 3, 1998)
TOYOTA MOTOR CREDIT CORPORATION
Medium-Term Note - Floating Rate
________________________________________________________________________________
Principal Amount: $200,000,000 Trade Date: September 15, 1999
Issue Price: 100% Original Issue Date: September 21, 1999
Initial Interest Rate: See "Additional Net Proceeds to Issuer: $200,000,000
Terms of the Notes" Principal's Discount
Interest Payment Period: Quarterly or Commission: 0.0%
Stated Maturity Date: September 21, 2000
________________________________________________________________________________
Calculation Agent: Bankers Trust Company
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
[ ] LIBOR [X] Treasury Rate [ ] Other (see attached)
If LIBOR, Designated LIBOR Page: [ ] Reuters Page:
[ ] Telerate Page:
Initial Interest Reset Date: See "Additional Spread (+/-): +0.88%
Terms of the Notes"
Interest Rate Reset Period: Weekly Spread Multiplier: N/A
Interest Reset Dates: See "Additional Maximum Interest Rate: N/A
Terms of the Notes"
Interest Payment Dates: December 21, March 21, Minimum Interest Rate: N/A
June 21 and September 21, commencing Index Maturity: 3 months
December 21, 1999 Index Currency: U.S. dollars
Day Count Convention:
[ ] 30/360 for the period from to
[X] Actual/Actual for the period from 9/21/1999 to but excluding 9/21/2000
[ ] Other (see attached) to
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
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Credit Suisse First Boston
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Additional Terms of the Notes
The Initial Interest Rate for the Medium-Term Notes offered by this
pricing supplement (the "Notes") will be equal to the sum of (i) the Treasury
Rate having an Index Maturity of three months as determined in the September
20, 1999 Treasury bill auction (or if no auction is held that day, the
immediately preceding auction), as such rate is published on the Issue Date in
H.15(519) under the heading "U. S. Government Securities/Treasury
Bills/Auction Average (Investment)", plus (ii) 0.88%.
The Interest Reset Date (including the Initial Interest Reset Date) shall
be on the Tuesday of each week (except as otherwise specified in the
Prospectus Supplement dated September 3, 1998).
Plan of Distribution
Under the terms of and subject to the conditions of an Appointment
Agreement dated September 15, 1999 and an Appointment Agreement Confirmation
dated September 15, 1999 (collectively, the "Agreement"), between TMCC and
Credit Suisse First Boston Corporation ("CSFB"), CSFB, acting as principal,
has agreed to purchase and TMCC has agreed to sell the Notes at 100.00% of
their principal amount. CSFB 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 CSFB.
Under the terms and conditions of the Agreement, CSFB is committed to
take and pay for all of the Notes offered hereby if any are taken.
Affiliates of CSFB have in the past and may in the future engage in
general financing and banking transactions with TMCC and its affiliates.
