PRICING SUPPLEMENT NUMBER 10 Filed Under Rule (To Prospectus dated November 28, 1995) 424(b)(2) and 424(c) CUSIP 71345L DY-1 File No. 33-64243 $50,000,000 PepsiCo, Inc. Callable Fixed Rate Debt Securities Due October 25, 2011 Interest Payable Semiannually _______________________ Underwriter: Bear, Stearns & Co. Inc. Initial Offering Price: 100.00%. Underwriter's Discount: 0% Currency: U. S. Dollars Date of Issue: October 25, 1996 Issuance form: Book entry Scheduled Maturity Date: October 25, 2011 Interest Rate: October 25, 1996 - October 24, 1998 8.00% October 25, 1998 - October 24, 2011 7.15% Day count basis: 30/360 Interest Accrual Date: October 25, 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.
Interest Payment Dates: Semiannually on the 25th of each October and April, commencing April 25, 1997, 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 Callable Fixed Rate Debt Securities Due October 25, 2011, (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 October 25, 1998 and semiannually thereafter on each October 25th and April 25th, 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: October 25, 1996 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, which are generally effective for debt instruments issued on or after April 4, 1994. ____________________________ Bear, Stearns & Co. Inc. ____________________________ October 15, 1996