PepsiCo defeases ten series of legacy Quaker Oats notes with cash and U.S. government securities

PEPSICO INC

Deposited funds sufficient to pay principal and interest on 10 Notes maturing 2023-2026, with coupons from 6.79% to 7.77%.
Defeasance effective April 12, 2023; outstanding obligations under the Indenture will be discharged.
Transaction expected to be treated as a taxable exchange for U.S. federal income tax purposes.
Notes were originally issued by The Quaker Oats Company; PepsiCo succeeded as obligor under the Indenture.

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