PRICING SUPPLEMENT NUMBER 14            Filed Under Rule
(To Prospectus dated January 11, 1995)  424(b)(2) and 424(c)
 CUSIP No. 71345L CZ 9                  File No. 33-57181


                              PEPSICO, INC.

                 5.875% Debt Securities Due June 1, 2000
                           Payable Semiannually

     Type of Securities:  Fixed Rate Debt Securities

     Underwriter:         UBS Securities Inc.

     Initial Offering Price:   99.764%

     Underwriter's Discount:    0.339%

     Currency:             U. S. Dollars

     Date of Issue:        June 9, 1995

     Issuance form:        Book entry

     Scheduled Maturity Date:  June 1, 2000

     Interest Rate: 5.875%

     Daycount basis:     30/360

     Interest Accrual Date:   June 9, 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 each December 1 and
June 1, commencing December 1, 1995 and ending on the Scheduled
Maturity 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.

     Principal Payment Dates: 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:    June 9, 1995

The 5.875% Debt Securities Due June 1, 2000 will be purchased by
the Underwriter at 99.425% of their principal amount, and will be
initially offered to the public at 99.764% of their principal
amount (the "Initial Offering Price").  The Underwriter has
advised PepsiCo that it intends to offer all or part of the
5.875% Debt Securities Due June 1, 2000 directly to the public
initially at the Initial Offering Price of such Debt Securities.
After the 5.875% Debt Securities Due June 1, 2000 are released
for sale to the public, the offering price and other selling
terms may from time to time be varied by the Underwriter.

For U.S.  federal income tax purposes, the 5.875% Debt Securities
Due June 1, 2000 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.

The Underwriter and certain of its affiliates have provided
financial and commercial banking services for PepsiCo from time
to time, in the ordinary course of business.


                         UBS Securities Inc.

June 2, 1995