PRICING SUPPLEMENT NUMBER 15 Filed Under Rule
(TO PROSPECTUS DATED NOVEMBER 28, 1995) 424(b)(2) and 424(c)
CUSIP 71345L ED-6 File No. 33-64243
$25,000,000
PEPSICO, INC.
6.50% CALLABLE DEBT SECURITIES DUE MARCH 18, 2013
Interest Payable Monthly
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Underwriter: Bear, Stearns & Co. Inc.
Initial Offering Price: 100.00%
Underwriter's Discount: 0%
Currency: U. S. Dollars
Date of Issue: March 18, 1998
Issuance form: Book entry
Scheduled Maturity Date: March 18, 2013
Interest Rate: 6.50% per annum
Day count basis: 30/360
Interest Accrual Date: March 18, 1998 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: Monthly on the 18th of each
month, commencing April 18,
1998, 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 6.50% Callable Debt
Securities Due March 18, 2013,
(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 March 18, 1999
or any subsequent Interest
Payment Date prior to the
Scheduled Maturity Date, upon
15 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: March 18, 1998
The Notes will be purchased by the Underwriter at 100.00% 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.
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BEAR, STEARNS & CO. INC.
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February 25, 1998
