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Pricing Supplement dated August 30, 2000 Rule 424(b)(3)
(To Prospectus dated January 12, 2000 and File No. 333-89659
Prospectus Supplement dated January 12, 2000)
TOYOTA MOTOR CREDIT CORPORATION
Medium-Term Note - Fixed Rate
______________________________________________________________________________
Principal Amount: $150,000,000 Trade Date: August 30, 2000
Issue Price: See "Additional Terms of Original Issue Date: September 5, 2000
the Notes - Plan of Distribution"
Interest Rate: 6.93% per annum Net Proceeds to Issuer: $149,887,500
Interest Payment Dates: Each March and Principal's Discount or
September 5, commencing March 5, 2001 Commission: 0.075%
Stated Maturity Date: September 5, 2002
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Day Count Convention:
[X] 30/360 for the period from September 5, 2000 to September 5, 2002
[ ] Actual/365 for the period from to
[ ] 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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Merrill Lynch & Co.
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ADDITIONAL TERMS OF THE NOTES
Plan of Distribution
Under the terms of and subject to the conditions of a terms
agreement under the First Amended and Restated Distribution Agreement dated
September 3, 1998 between TMCC and Merrill Lynch & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated ("Merrill"), Goldman, Sachs & Co., Lehman Brothers
Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and
Salomon Smith Barney Inc., as amended by that certain Amendment No. 1 thereto,
dated January 12, 2000 (as amended, the "Agreement"), Merrill, acting as
principal, has agreed to purchase and TMCC has agreed to sell the Notes at
99.925% of their principal amount. Merrill 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 Merrill.
Under the terms and conditions of the Agreement, Merrill is
committed to take and pay for all of the Notes offered hereby if any are
taken.
