Season the chicken with the salt and black pepper generously.
In the pot of Instant pot, place the chicken and butter and mix well.
In a bowl, add the remaining ingredients except the cilantro and mix well.
Place the cola mixture over the chicken evenly.
Secure the lid and turn to “Seal” position.
Cook on “Manual” with “High Pressure” for about 10 minutes.
Press “Cancel” and allow a natural release for about 15 minutes and then, do a quick release.
Remove the lid and select “Sauté”.
Cook for about 2-3 minutes or until desired thickness of gravy.
Press “Cancel” and serve hot with the garnishing of cilantro.