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Share Name | Share Symbol | Market | Type |
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PepsiCo Inc | NASDAQ:PEP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.70 | 0.40% | 176.15 | 161.08 | 181.01 | 176.49 | 175.00 | 175.80 | 3,492,173 | 05:00:00 |
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-234767
April 29, 2020
PepsiCo, Inc.
0.250% Senior Notes due 2024
0.500% Senior Notes due 2028
Issuer: |
PepsiCo, Inc. |
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Ratings (S&P / Moodys): |
A+ / A1 (Stable Outlook / Negative Watch) |
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Trade Date: |
April 29, 2020 |
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Settlement Date (T+5): |
May 6, 2020 |
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Title of Securities: |
0.250% Senior Notes due 2024 |
0.500% Senior Notes due 2028 |
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Aggregate Principal Amount Offered: |
1,000,000,000 |
1,000,000,000 |
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Maturity Date: |
May 6, 2024 |
May 6, 2028 |
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Interest Payment Dates: |
Annually on each May 6, commencing on May 6, 2021 |
Annually on each May 6, commencing on May 6, 2021 |
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Benchmark Bund: |
OBL#179 0.000% due April 2024 |
DBR 0.500% due February 2028 |
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Benchmark Bund Yield: |
-0.690% |
-0.595% |
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Spread to Benchmark Bund: |
+97.4 bps |
+110.6 bps |
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Mid-Swap Yield: |
-0.296% |
-0.169% |
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Spread to Mid-Swap: |
+58 bps |
+68 bps |
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Coupon: |
0.250% |
0.500% |
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Price to Public (Issue Price): |
99.865% |
99.914% |
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Redemption for Tax Reasons: |
The Company may redeem all, but not less than all, of the notes in the event of certain changes in the tax laws of the United States (or any taxing authority in the United States). This redemption would be at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest on the notes to, but not including, the date fixed for redemption. |
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scheduled interest payment thereon will be deemed to be reduced by the amount of interest accrued thereon to such redemption date.
Business Day means any day, other than a Saturday or Sunday, (1) which is not a day on which banking institutions in the City of New York or the City of London are authorized or required by law or executive order to close and (2) on which the Trans-European Automated Real-time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, operates. |
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Day Count Fraction: |
ACTUAL/ACTUAL (ICMA) |
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CUSIP / ISIN / Common Code: |
713448 EW4 / XS2168625460 / 216862546 |
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713448 EX2 / XS2168625544 / 216862554 |
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Currency of Payment: |
All payments of interest and principal, including payments made upon any redemption of the notes, will be payable in euro. If, on or after the issuance of the notes, the euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Companys control or if the euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the notes will be made in U.S. dollars until the euro is again available to the Company and so used. |
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Additional Amounts: |
The Company will, subject to certain exceptions and limitations, pay as additional interest on the notes such additional amounts as are necessary in order that the net payment by the Company of the principal of and interest on the notes to a holder who is not a United States person, after withholding or deduction for any present or future tax, assessment or other governmental charge imposed by the United States or a taxing authority in the United States, will not be less than the amount provided in the notes then due and payable. |
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Listing: |
PepsiCo intends to apply to list the notes on the Nasdaq Bond Exchange and expects trading in the notes to begin within 30 days after the date of their issuance. |
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Minimum Denomination: |
100,000 and integral multiples of 1,000 |
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Joint Book-Running Managers: |
BNP Paribas
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Senior Co-Managers: |
Goldman Sachs & Co. LLC
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Co-Managers: |
Banco Bilbao Vizcaya Argentaria, S.A.
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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 Moodys. Each of the security ratings above should be evaluated independently of any other security rating.
Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
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 BNP Paribas toll-free at 1-800-854-5674, Deutsche Bank AG, London Branch toll-free at 1-800-503-4611 or HSBC Bank plc toll-free at 1-866-811-8049.
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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