Filed Pursuant to Rule 433
Registration No. 333-222676
Term Sheet
April 10, 2018
Issuer: | Toyota Motor Credit Corporation |
Security: | Floating Rate Medium-Term Notes, Series B |
Title: | Floating Rate Medium-Term Notes, Series B due April 13, 2021 |
Issuer Senior Long-Term Debt Ratings: | Moody’s Investors Service, Inc.: Aa3 (stable outlook) S&P Global Ratings: AA- (stable outlook) |
CUSIP/ISIN: | 89236TEV3 / US89236TEV35 |
Pricing Date: | April 10, 2018 |
Settlement Date: | April 13, 2018 (T+3) The Issuer expects that delivery of the notes will be made against payment therefor on the Settlement Date, which will be the third U.S. business day following the Pricing Date. Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the Pricing Date will be required by virtue of the fact that the notes initially will settle in three business days to specify alternative settlement arrangements to prevent a failed settlement and should consult their own investment advisor. |
Maturity Date: | April 13, 2021 |
Principal Amount: | $750,000,000 |
Price to Public: | 100.000% |
Commission: | 0.225% |
Net Proceeds to Issuer: | 99.775% / $748,312,500 |
Floating Rate Index: | 3 month LIBOR |
Floating Rate Spread: | +28 basis points |
Index Source: | LIBOR Reuters |
Minimum Interest Rate: | 0.000% |
Interest Payment Frequency: | Quarterly |
Initial Interest Rate: | The initial interest rate will be based on 3 month LIBOR determined on April 11, 2018 plus the Floating Rate Spread. |
Interest Payment Dates: | Each January 13, April 13, July 13, and October 13, beginning on July 13, 2018 and ending on the Maturity Date |
Interest Reset Dates: | The first interest reset date shall be the Settlement Date and thereafter, each Interest Payment Date. Newly reset interest rates shall apply beginning on and including the Interest Reset Date, to but excluding the next Interest Payment Date. |
Interest Determination Date: | Second London Banking Day preceding each Interest Reset Date |
Day Count Convention: | Actual/360 |
Business Day Convention: | Modified Following, adjusted |
Business Days: | New York and London |
Calculation Agent: | Deutsche Bank Trust Company Americas |
Governing Law: | New York |
Minimum Denominations: | $2,000 and $1,000 increments thereafter |
Joint Book-Running Managers: | BNP Paribas Securities Corp. Citigroup Global Markets Inc. Credit Agricole Securities (USA) Inc. J.P. Morgan Securities LLC TD Securities (USA) LLC |
Co-Managers: | Academy Securities, Inc. ANZ Securities, Inc. Fifth Third Securities, Inc. Guzman & Company Loop Capital Markets LLC U.S. Bancorp Investments, Inc. |
DTC Number: | #187 |
Concurrent Offering: | Concurrently with this offering of the notes, the Issuer is also offering by means of separate term sheets: (i) $1,000,000,000 aggregate principal amount of 2.950% Medium-Term Notes, Series B due April 13, 2021 and (ii) $500,000,000 aggregate principal amount of 3.400% Medium-Term Notes, Series B due April 14, 2025 (collectively, the “Other Notes”). This term sheet does not constitute an offer to sell, or the solicitation of an offer to buy, any of the Other Notes. Any offering of the Other Notes may be made only by means of a prospectus and related prospectus supplement. |
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to withdrawal at any time.
This term sheet supplements the prospectus supplement dated January 25, 2018 and the related prospectus dated January 24, 2018; capitalized terms used in this term sheet, but otherwise not defined, shall have the meanings assigned to them in the related prospectus supplement and prospectus.
The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the web at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BNP Paribas Securities Corp. toll-free at 1-800-854-5674, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Credit Agricole Securities (USA) Inc. toll-free at 1-866-807-6030, J.P. Morgan Securities LLC collect at 1-212-834-4533 and TD Securities (USA) LLC toll-free at 1-855-495-9846.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.