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Pricing Supplement dated June 29, 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 - Fixed Rate
________________________________________________________________________________
Principal Amount: $100,000,000 Trade Date: June 29, 1999
Issue Price: 100% Original Issue Date: July 6, 1999
Interest Rate: 5.76% Net Proceeds to Issuer: $100,000,000
Interest Payment Date: July 6, 2000 Principal's Discount or
Stated Maturity Date: July 6, 2000 or Commission: 0.00%
________________________________________________________________________________
Day Count Convention:
[ ] 30/360 for the period from to
[x] Actual/360 for the period from July 6, 1999 to July 6, 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:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction:
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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Goldman, Sachs & Co.
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ADDITIONAL TERMS OF THE NOTES
Plan of Distribution
Under the terms of and subject to the conditions of a First Amended and
Restated Distribution Agreement dated September 3, 1998 between TMCC and
Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Goldman, Sachs & Co., Lehman Brothers Inc., J.P. Morgan Securities Inc.,
Morgan Stanley & Co. Incorporated and Salomon Smith Barney Inc. (the
"Agreement"), Goldman, Sachs & Co., acting as principal, has agreed to
purchase and TMCC has agreed to sell the Notes at 100.00% of their principal
amount. Goldman, Sachs & Co. 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 Goldman, Sachs & Co.
Under the terms and conditions of the Agreement, Goldman, Sachs & Co. is
committed to take and pay for all of the Notes offered hereby if any are
taken.
