Rinse dried beans in a colander and sort for any stones. If any stones are found, dispose of them.
Pour rinsed beans into Instant Pot.
Fill Instant Pot with water until water is 1 inch above top of beans.
Close lid and set pressure release valve to sealing.
Press manual or pressure cook button and set to 5 minutes.
Allow pressure to release naturally.
Remove lid and drain any access water.
Remove beans and set aside.
Push sauté button.
Spray inside of Instant Pot with cooking spray and pour in bacon slices.
Let cook, 7 minutes, until bacon is browned. Stir occasionally.
Remove bacon and place in-between two paper towels to drain grease.
Dispose of remaining bacon grease, reserving two tablespoons inside the Instant Pot.
Mix onion and bell pepper into remaining bacon grease.
Let cook, 3 minutes, until soft. Stir occasionally.
Pour in 1 cup water and deglaze the bottom of the pot. Turn Instant Pot off.
Add in the cooked bacon, beans, ketchup, brown sugar, and Worcestershire. Mix.
Close lid and set pressure release valve to sealing.
Press manual or pressure cook button and set to 15 minutes.
Allow pressure to release naturally.
Serve warm and refrigerate any leftovers, up to one week.