- Grease 13x9x2-inch baking pan.
- Combine sugar and corn syrup in large, heavy-duty saucepan; bring just to a boil over medium heat.
- Stirring constantly.
- Remove from heat; stir in peanut butter.
- Stir in cereal.
- Press into prepared baking pan.
- Melt chocolate and butterscotch morsels in medium, microwave-safe bowl on medium-high (70%) power for 1 minute; stir.
- Microwave at additional 10 to 20 second intervals, stirring until smooth.
- Spread over cereal mixture.
- Refrigerate for 20 minutes or until firm.