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COOK corn syrup and sugar together in a large pan over medium heat, stirring to dissolve sugar. Bring mixture to a boil. Remove from heat. Stir in peanut butter; mix well. Add cereal; stir until evenly coated.
POUR into greased 13x9 inch pan and pat into place.
MELT chocolate and butterscotch chips together in saucepan over low heat; stirring constantly. Spread over cereal.
COOL at least 45 minutes, or until firm. Cut into bars.
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