Press release article from our research archive:

Toyota Motor Credit Corp., J.P. Morgan issue CPI-linked notes.

NEW YORK--(BUSINESS WIRE)--Feb. 6, 1997--J.P. Morgan Securities Inc. was lead manager for two issues of CPI-linked notes, one for Toyota Motor Credit Corporation and one for J.P. Morgan & Co. Incorporated. The transactions mark the first non-government issuance of these new securities, which pay a spread over the CPI-U index published by the Bureau of Labor Statistics.

Toyota Motor Credit Corporation issued $100 million of 5-year CPI-linked notes, priced at a real yield of 320 basis points over CPI. Coupons on the bonds will be paid on a semi-annual, current-pay basis. The bonds are rated AAA by both Moody's Investors Service and Standard and Poor's Corporation.

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