PRICING SUPPLEMENT NUMBER 4 Filed Under Rule
(To Prospectus dated January 11, 1995) 424(b)(2) and 424(c)
CUSIP 71345L CP-1 File No. 33-57181
$25,000,000
PEPSICO, INC.
Step-Up Notes Due February 22, 2002
Interest Payable Semiannually
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Underwriter: Morgan Stanley & Co. Incorporated
Initial Offering Price: 100.00%
Underwriter's Discount: 0.00%
Currency: U. S. dollars
Date of Issue: February 22, 1995
Issuance form: Book entry
Scheduled Maturity Date: February 22, 2002
Fixed Coupons:
February 22, 1995 - February 21, 1996: 8.00%
February 22, 1996 - February 21, 1997: 8.10%
February 22, 1997 - February 21, 1998: 8.20%
February 22, 1998 - February 21, 1999: 8.30%
February 22, 1999 - February 21, 2000: 8.40%
February 22, 2000 - February 21, 2001: 8.60%
February 22, 2001 - February 21, 2002: 8.80%
Day count basis: 30/360
Interest Accrual Date: February 22, 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 22 and February 22,
commencing August 22, 1995 and ending on the Scheduled Maturity
Date or an earlier Optional Redemption Date. If any Interest Payment
Date falls on a date that is not a Business Day, such Interest
Payment Date will be the next succeeding Business Day.
Principal Payment Dates: Scheduled Maturity Date, or an earlier
Optional Redemption Date
Business Days: New York
Calculation Agent: PepsiCo, Inc.
Optional Redemption Dates: The Step-Up Notes Due February 22, 2002
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 February 22, 1996, or any subsequent
Interest Payment Date prior to the Scheduled Maturity Date, upon 15
days' written notice by PepsiCo to the holders of such Notes.
Option to elect prepayment: None
Sinking fund: Not applicable
Settlement Date: February 22, 1995
The Step-Up Notes Due February 22, 2002 will be purchased by the
Underwriter at 100.00% 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 Step-Up Notes Due February 22, 2002
directly to the public initially at the Initial Offering Price of such
Debt Securities. After the Step-Up Notes Due February 22, 2002 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 Step-Up Notes Due February
22, 2002, 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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Morgan Stanley & Co. Incorporated
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February 3, 1995