PRICING SUPPLEMENT NUMBER 7 Filed Under Rule
(To Prospectus dated November 28, 1995) 424(b)(2) and 424(c)
CUSIP 71345L DV-7 File No. 33-64243
$25,000,000
PepsiCo, Inc.
7.30% Callable Fixed Rate Debt Securities Due June 15, 2011
Interest Payable Monthly
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Underwriter: Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Initial Offering Price: The 7.30% Callable Fixed Rate
Debt Securities Due June 15, 2011 ("Notes") are
being purchased by the Underwriter at 97.90% 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: 2.10%
Currency: U. S. Dollars
Date of Issue: June 5, 1996
Issuance form: Book entry
Scheduled Maturity Date: June 15, 2011
Interest Rate: 7.30% per annum
Day count basis: 30/360
Interest Accrual Date: June 5, 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 15th of each month,
commencing July 15, 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 June 15, 2000, and semiannually
thereafter on each June 15th and December
15th, 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: June 5, 1996
The Notes will be purchased by the Underwriter at 97.90% 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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May 28, 1996
