-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 L+qxsY76bn5845aAul8X6+jycvLkaoIvZc6CiwQvDof09KrpaTnXt+sieROlisu1
 TPS2JqBg7N3xWbPSPWF5bA==

<SEC-DOCUMENT>0001012767-03-000004.txt : 20031003
<SEC-HEADER>0001012767-03-000004.hdr.sgml : 20031003
<ACCEPTANCE-DATETIME>20031003135215
ACCESSION NUMBER:		0001012767-03-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031001
FILED AS OF DATE:		20031003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARTINEZ ARTHUR C
		CENTRAL INDEX KEY:			0001012767

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01183
		FILM NUMBER:		03927367

	BUSINESS ADDRESS:	
		STREET 1:		SEARS ROEBUCK & CO
		STREET 2:		SEARS TOWER, PO BOX 081079
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			80808-1079

	MAIL ADDRESS:	
		STREET 1:		SEARS ROEBUCK & CO
		STREET 2:		SEARS TOWER, PO BOX 081079
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60808-1079

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEPSICO INC
		CENTRAL INDEX KEY:			0000077476
		STANDARD INDUSTRIAL CLASSIFICATION:	BEVERAGES [2080]
		IRS NUMBER:				131584302
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1228

	BUSINESS ADDRESS:	
		STREET 1:		700 ANDERSON HILL RD
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
		BUSINESS PHONE:		9142532000

	MAIL ADDRESS:	
		STREET 1:		700 ANDERSON HILL ROAD
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577-1444

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PEPSI COLA CO
		DATE OF NAME CHANGE:	19700903
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-10-01</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000077476</issuerCik>
        <issuerName>PEPSICO INC</issuerName>
        <issuerTradingSymbol>PEP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001012767</rptOwnerCik>
            <rptOwnerName>MARTINEZ ARTHUR C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SEARS ROEBUCK &amp; CO</rptOwnerStreet1>
            <rptOwnerStreet2>SEARS TOWER, PO BOX 081079</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60808-1079</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>
  <nonDerivativeTable>
  </nonDerivativeTable>
  <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
          <value>Phantom Stock Units</value>
      </securityTitle>
      <conversionOrExercisePrice>
              <footnoteId id="F1" />
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-09-30</value>
              <footnoteId id="F2" />
      </transactionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>A</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>131.63</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
              <footnoteId id="F2" />
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
              <footnoteId id="F3" />
      </exerciseDate>
      <expirationDate>
              <footnoteId id="F3" />
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>PepsiCo, Inc. Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>131.63</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>9115.26</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
          <value>Phantom Stock Units</value>
      </securityTitle>
      <conversionOrExercisePrice>
              <footnoteId id="F1" />
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-10-01</value>
      </transactionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>A</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>2181.98</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>45.83</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
              <footnoteId id="F3" />
      </exerciseDate>
      <expirationDate>
              <footnoteId id="F3" />
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>PepsiCo, Inc. Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>2181.98</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>11297.24</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
          <value>Stock Option Grant (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>46.50</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-10-01</value>
      </transactionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>A</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>6452.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
              <footnoteId id="F4" />
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>2006-10-01</value>
      </exerciseDate>
      <expirationDate>
          <value>2013-09-30</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>PepsiCo, Inc. Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>6452.00</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>6452.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
  </derivativeTable>
<footnotes>
   <footnote id="F1">These phantom units convert to shares of PepsiCo Common Stock on a one-for-one basis.</footnote>
   <footnote id="F2">Acquired on various dates between January 2, 2003 and September 30, 2003 pursuant to PepsiCo's deferred compensation plan, at pri
ces ranging from $40.00 to $45.83.</footnote>
   <footnote id="F3">This security is exercisable upon the reporting person's retirement.</footnote>
   <footnote id="F4">There is no price for this derivative security.</footnote>
</footnotes>
    <ownerSignature>
       <signatureName>Thomas Tamoney, Atty-in-Fact</signatureName>
       <signatureDate>2003-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----