PRICING SUPPLEMENT NUMBER 9 Filed Under Rule
(To Prospectus dated November 28, 1995) 424(b)(2) and 424(c)
CUSIP 71345L DX-3 File No. 33-64243
$25,000,000
PepsiCo, Inc.
7.50% Callable Fixed Rate Debt Securities Due September 19, 2011
Interest Payable Monthly
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Underwriter: Merrill Lynch, Pierce, Fenner &
Smith Incorporated
Initial Offering Price: The 7.50% Callable Fixed Rate Debt
Securities Due September 19, 2011
("Notes") are being purchased by the
Underwriter at 97.78% of their
principal amount and will be sold at
varying prices to be determined
based on prevailing market prices at
the time of sale.
Underwriter's Discount: 2.22%
Currency: U. S. Dollars
Date of Issue: September 19, 1996
Issuance form: Book entry
Scheduled Maturity Date: September 19, 2011
Interest Rate: 7.50% per annum
Day count basis: 30/360
Interest Accrual Date: September 19, 1996 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.
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Interest Payment Dates: Monthly on the 19th of each month,
commencing October 19, 1996, and
ending on the Scheduled Maturity
Date or an earlier Optional
Redemption Date.
Principal Payment Date: Scheduled Maturity Date, or an
earlier Optional Redemption Date.
Business Days: New York
Calculation Agent: PepsiCo, Inc.
Optional Redemption Dates: 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 September 19, 2000,
and semiannually thereafter on each
September 19th and March 19th, upon
30 days written notice by PepsiCo to
the Trustee under the Indenture
dated as of December 14, 1994 for
the benefit of the holders of such
Notes.
Option to elect prepayment: None
Sinking fund: Not applicable
Settlement Date: September 19, 1996
The Notes will be purchased by the Underwriter at 97.78% of their principal
amount, and will be offered to the public at varying prices to be determined by
the Underwriter based on prevailing market prices at the time of sale.
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.
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Merrill Lynch & Co.
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September 10, 1996
