0001104659-20-053664.txt : 20200430 0001104659-20-053664.hdr.sgml : 20200430 20200429191436 ACCESSION NUMBER: 0001104659-20-053664 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200430 DATE AS OF CHANGE: 20200429 SUBJECT COMPANY: 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: 1226 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-234767 FILM NUMBER: 20832429 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 FILED BY: 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: 1226 FILING VALUES: FORM TYPE: FWP 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 FWP 1 a20-15480_4fwp.htm FWP

 

Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-234767
April 29, 2020

 

PepsiCo, Inc.
0.750% Senior Notes due 2023
1.625% Senior Notes due 2030

 

Issuer:

 

PepsiCo, Inc.

 

 

 

Ratings (S&P / Moody’s):

 

A+ / A1 (Stable Outlook / Negative Watch)

 

 

 

Trade Date:

 

April 29, 2020

 

 

 

Settlement Date (T+2):

 

May 1, 2020

 

 

 

Title of Securities:

 

0.750% Senior Notes due 2023

 

1.625% Senior Notes due 2030

 

 

 

 

 

Aggregate Principal Amount Offered:

 

$1,000,000,000

 

$1,000,000,000

 

 

 

 

 

Maturity Date:

 

May 1, 2023

 

May 1, 2030

 

 

 

 

 

Interest Payment Dates:

 

Semi-annually on each May 1 and November 1, commencing on November 1, 2020

 

Semi-annually on each May 1 and November 1, commencing on November 1, 2020

 

 

 

 

 

Benchmark Treasury:

 

0.25% due April 15, 2023

 

1.50% due February 15, 2030

 

 

 

 

 

Benchmark Treasury Yield:

 

0.247%

 

0.622%

 

 

 

 

 

Spread to Treasury:

 

+57 basis points

 

+105 basis points

 

 

 

 

 

Re-offer Yield:

 

0.817%

 

1.672%

 

 

 

 

 

Coupon:

 

0.750%

 

1.625%

 

 

 

 

 

Price to Public:

 

99.802%

 

99.569%

 

 

 

 

 

Optional Redemption:

 

Make-whole call at Treasury rate plus 10 basis points

 

Prior to February 1, 2030, make-whole call at Treasury rate plus 20 basis points; par call at any time on or after February 1, 2030

 

 

 

 

 

Net Proceeds to PepsiCo (Before Expenses):

 

$995,520,000

 

$991,190,000

 

 

 

 

 

Use of Proceeds:

 

PepsiCo intends to use the net proceeds from this offering for general corporate purposes, including the repayment of commercial paper.

 

 

 

Day Count Fraction:

 

30/360

 

30/360

 

 

 

 

 

CUSIP / ISIN:

 

713448 EY0 / US713448EY04

 

713448 EZ7 / US713448EZ78

 

 

 

 

 

Minimum Denomination:

 

$2,000 and integral multiples of $1,000

 

 

 

 

 

 

 

Joint Book-Running Managers:

 

Goldman Sachs & Co. LLC
Mizuho Securities USA LLC
Morgan Stanley & Co. LLC

 

 

 

 

 

 

 

Senior Co-Managers:

 

BNP Paribas Securities Corp.
Deutsche Bank Securities Inc.
HSBC Securities (USA) Inc.

 

 

 

 

 

 

 

Co-Managers:

 

TD Securities (USA) LLC
Academy Securities, Inc.
Loop Capital Markets LLC

 

 

 

 

An explanation of the significance of ratings may be obtained from the ratings agencies. Generally, ratings agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The security ratings above are not a recommendation to buy, sell or hold the securities offered hereby. The ratings may be subject to review, revision, suspension, reduction or withdrawal at any time by S&P and Moody’s. Each of the security ratings above should be evaluated independently of any other security rating.

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, Mizuho Securities USA LLC toll-free at 1-866-271-7403 or Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.

 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.

 

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