FORM OF PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) UNITED PARCEL SERVICE, INC. UPS NOTES - -------------------------------------------------------------------------------- Pricing Supplement No. 28 Trade Date: 04/18/01 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 04/26/01 Supplement dated January 29, 2001) The date of this Pricing Supplement is April 24, 2001
CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UBD5 $6,119,000.00 6.50% 04/15/16 100% Interest Payment Frequency Subject to Dates and terms of redemption (begin date) Survivor's Option Redemption (including the redemption price) ---------------- ----------------- ----------- -------------------------------- 10/15/01 Yes Yes 100% 04/15/02 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms --------------- ------------- ----------- ------ ----------- $5,996,620.00 $122,380.00 $3.50 ABN AMRO, Inc.