PRICING SUPPLEMENT NUMBER 10                    Filed Under Rule
(To Prospectus dated January 11, 1995)          424(b)(2) and 424(c)
CUSIP 71345L CV-8                               File No. 33-57181



                                  $115,000,000


                                  PEPSICO, INC.



                7.48% Callable Debt Securities Due April 27, 2002

                        Interest Payable Semiannually
                         _______________________


Underwriter:  UBS Securities Inc.

Initial Offering Price: 100.00%

Underwriter's Discount: 0.55%

Currency:  U. S. Dollars

Date of Issue:  April 27, 1995

Issuance form: Book entry

Scheduled Maturity Date: April 27, 2002

Coupon: 7.48% per annum

Day count basis: 30/360

Interest Accrual Date: April 27, 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 the 27th of October and April, 
commencing October 27, 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 with no additional interest accruing.

Principal Payment Dates: Scheduled Maturity Date, or an earlier Optional 
Redemption Date

Business Days: New York

Calculation Agent: PepsiCo, Inc.

Optional Redemption Dates: The 7.48% Callable Debt Securities Due 
April 27, 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 April 27, 1998, or on any subsequent 
Interest Payment Date prior to the Scheduled Maturity Date, upon 30 days' 
written notice by PepsiCo to the holders of such Notes.

Option to elect prepayment: None

Sinking fund: Not applicable

Settlement Date: April 27, 1995

The 7.48% Callable Debt Securities Due April 27, 2002 will be purchased
by the Underwriter at 99.45% 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 7.48% Callable Debt
Securities Due April 27, 2002 directly to the public initially at the
Initial Offering Price of such Debt Securities.  After the 7.48%
Callable Debt Securities Due April 27, 2002 are released for sale to
the public, the offering price and other selling terms may be varied by
the Underwriter from time to time.

For U.S. federal income tax purposes, the 7.48% Callable Debt
Securities Due April 27, 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.


                        ____________________________

                        UBS Securities Inc.
                        ____________________________

April 20, 1995