PRICING SUPPLEMENT NUMBER 20 Filed Under Rule
(To Prospectus dated January 11, 1995) 424(b)(2) and 424(c)
CUSIP 71345L DF 2 File No. 33-57181
$25,000,000
PEPSICO, INC.
7.13% Callable Fixed Rate Debt Securities Due August 17, 2007
Interest Payable Monthly
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Underwriter: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Initial Offering Price: 100.00%
Underwriter's Discount: 1.50%
Currency: U. S. Dollars
Date of Issue: August 17, 1995
Issuance form: Book entry
Scheduled Maturity Date: August 17, 2007
Coupon: 7.13% per annum
Day count basis: 30/360
Interest Accrual Date: August 17, 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 17th of each month, commencing
September 17, 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 7.13% Callable Fixed Rate Debt Securities
Due August 17, 2007 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 August 17, 1999, and semiannually
thereafter on each August 17th and February 17th, with not less than 30
days' written notice by PepsiCo to the holders of such Notes.
Option to elect prepayment: None
Sinking fund: Not applicable
Settlement Date: August 17, 1995
The 7.13% Callable Fixed Rate Debt Securities Due August 17, 2007 will
be purchased by the Underwriter at 98.50% of their principal amount,
and will be initially offered to the public 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 7.13%
Callable Fixed Rate Debt Securities Due August 17, 2007 directly to the
public initially at the Initial Offering Price of such Debt Securities.
After the 7.13% Callable Fixed Rate Debt Securities Due August 17, 2007
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 7.13% Callable Fixed Rate
Debt Securities Due August 17, 2007 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.
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Merrill Lynch & Co.
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August 10, 1995
