Place the pretzels and cereal in a large bowl. In a saucepan over high heat, combine the sugar, water, and corn syrup. Bring to a boil and cook for 3 to 5 minutes, until a candy thermometer registers 235º F - do not overcook, it will burn in an instant. take off the heat and stir in the butter - it will bubble up, so watch out. Pour the mixture over the cereal/pretzel mixture and quickly stir until completely coated. Press the mixture over the bottom of the prepared pan and let cool to room temperature as you prepare the top.