PRICING SUPPLEMENT NUMBER 11 Filed Under Rule
(TO PROSPECTUS DATED NOVEMBER 28, 1995) 424(b)(2) and 424(c)
CUSIP 71345L DZ-8 File No. 33-64243
$80,000,000
PepsiCo, Inc.
15% DEBT SECURITIES DUE AUGUST 6, 1998
Interest Payable Semiannually
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Underwriter: Smith Barney Inc.
Initial Offering Price: 109.035%
Underwriter's Discount: 0.00%
Currency: U. S. Dollars
Date of Issue: August 6, 1997
Issuance form: Book entry
Scheduled Maturity Date: August 6, 1998
Interest Rate: 15.00% per annum
Day count basis: 30/360
Interest Accrual Date: August 6, 1997 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: February 6, 1998 and the Scheduled
Maturity Date
Principal Payment Date: 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: August 6, 1997
The 15% Debt Securities Due August 6, 1998 (the "Notes") will be purchased by
the Underwriter at 109.035% 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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SMITH BARNEY INC.
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July 23, 1997