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Melt butter in small saucepan, remove from heat and stir in honey mustard, worcestshire sauce, garlic powder and hot pepper sauce. Place pretzels in a foil lined 13x9 inch pan.
Pour mustard mixture over pretzels to caot and bake at 300 degrees F for 25 minutes stirring every 10 minutes. Spread on foil. Cool in an airtight container.