In a 3 qt. saucepan, cook the King syrup and sugar over medium heat, stirring frequently until it comes to a boil. Remove from heat and stir in peanut butter. Mix in the rice krispies. Press mixture into a buttered 13 x 9 x 2 pan. Over hot (not boiling) water, use a double boiler (or two saucepans inside of one another, the bottom one with the hot water), melt both the chocolate and butterscotch morsels. Stir constantly until it's smooth. Pour this mixture over top of the cereal mixture. Chill until firm--cut into bars or squares. Keep refrigerated.