PRICING SUPPLEMENT NUMBER 25 Filed Under Rule
(To Prospectus dated January 11, 1995) 424(b)(2) and 424(c)
CUSIP 71345L DL-9 File No. 33-57181
$25,000,000
PEPSICO, INC.
7.00% Callable Debt Securities Due November 2, 2010
Interest Payable Monthly
_______________________
Underwriter: Lehman Brothers Inc.
Initial Offering Price: 100.00%
Underwriter's Discount: 0.00%
Currency: U. S. Dollars
Date of Issue: November 2, 1995
Issuance form: Book entry
Scheduled Maturity Date: November 2, 2010
Coupon: 7.00% per annum
Day count basis: 30/360
Interest Accrual Date: November 2, 1995, or the most recent date for which
interest has been paid or provided for, as the case may be. Interest will
accrue from each Interest Accrual Date to but excluding the next succeeding
Interest Payment Date.
Interest Payment Dates: Monthly on the 2nd of each month, commencing
December 2, 1995, and ending on the Scheduled Maturity Date or an
earlier Optional Redemption Date.
Principal Payment Dates: Scheduled Maturity Date, or an earlier
Optional Redemption Date.
Business Days: New York
Calculation Agent: PepsiCo, Inc.
Optional Redemption Dates: The 7.00% Callable Debt Securities Due
November 2, 2010 (the "Notes") may be redeemed, in whole
but not in part, at the option of PepsiCo, at 100% of the principal
amount thereof, plus accrued interest to the date of such redemption,
on November 2, 1997, and semiannually thereafter on each May 2nd and
November 2nd, upon 15 days' written notice by PepsiCo to the holders of
such Notes.
Option to elect prepayment: None
Sinking fund: Not applicable
Settlement Date: November 2, 1995
The Notes will be purchased by the Underwriter at 100.00% of their
principal amount (the "Initial Offering Price"). The Underwriter has
advised PepsiCo that it intends to offer all or part of the Notes
directly to the public initially at the Initial Offering Price of such
Debt Securities. After the Notes are released for sale to the public,
the offering price and other selling terms may from time to time be
varied by the Underwriter.
For U.S. federal income tax purposes, the Notes will be treated as
Fixed Rate Debt Securities, issued without OID. This treatment is
consistent with the applicable provisions of the Internal Revenue Code
of 1986, as amended, and the final OID regulations, which are generally
effective for debt instruments issued on or after April 4, 1994.
____________________________
Lehman Brothers Inc.
____________________________
October 13, 1995
