PRICING SUPPLEMENT NUMBER 6 Filed Under Rule
(To Prospectus dated January 11, 1995) 424(b)(2) and 424(c)
CUSIP No. 71345L CR-7 File No. 33-57181
$50,000,000
PEPSICO, INC.
6.85% Debt Securities Due February 23, 1996
Interest Payable Semiannually
_______________________
Type of Securities: Fixed Rate Debt Securities
Underwriter: Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Initial Offering Price: 100.00%
Underwriter's Discount: 0.048%
Currency: U. S. dollars
Date of Issue: February 23, 1995
Issuance form: Book entry
Scheduled Maturity Date: February 23, 1996
Interest Rate: 6.85% per annum
Daycount basis: 30/360
Interest Accrual Date: February 23, 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: Semiannually on each August 23 and
February 23, commencing August 23, 1995 and ending on the
Scheduled Maturity Date.
Principal Payment Dates: Scheduled Maturity Date
Business Days: New York
Calculation Agent: PepsiCo, Inc.
Optional Redemption Dates: Not applicable
Option to elect prepayment: None
Sinking fund: Not applicable
Settlement Date: February 23, 1995
The 6.85% Debt Securities Due February 23, 1996 will be purchased
by the Underwriter at 99.952% 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 6.85%
Debt Securities Due February 23, 1996 directly to the public
initially at the Initial Offering Price of such Debt Securities.
After the 6.85% Debt Securities Due February 23, 1996 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 6.85% Debt Securities
Due February 23, 1996 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.
____________________________
Merrill Lynch & Co.
____________________________
February 21, 1995