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Pricing Supplement dated May 23, 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 - Floating Rate
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Principal Amount: $100,000,000 Trade Date: May 23, 2000
Issue Price: 100% Original Issue Date: May 30, 2000
Initial Interest Rate: See "Additional Net Proceeds to Issuer: $100,000,000
Terms of the Notes" Principal's Discount
Interest Payment Period: Quarterly or Commission: 0.0%
Stated Maturity Date: June 1, 2001
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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 (+/-): +0.63%
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: September 1, 2000 Minimum Interest Rate: N/A
December 1, 2000, March 1, 2001 and Index Maturity: 3 months
June 1, 2001 Index Currency: U.S. dollars
Day Count Convention:
[ ] 30/360 for the period from to
[X] Actual/Actual for the period from 5/30/2000 to but excluding 6/1/2001
[ ] 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 May 30,
2000 Treasury bill auction (or if no auction is held that day, the immediately
preceding auction), as such rate is displayed under the caption "INVESTMENT
RATE" on the display on Bridge Telerate, Inc. on page 56, plus (ii) 0.63%.
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 January 12, 2000).
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 May 23, 2000 (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.
