PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes - ------------------------------------------------------------------------------- Pricing Supplement No. 31 Trade Date: 08/12/02 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 08/15/02 Supplement dated December 20, 2001) The date of this Pricing Supplement is August 13, 2002 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UED2 $5,670,000.00 4.40% 08/15/10 100% Interest Payment Frequency Subject to Dates and terms of redemption (begin date) Survivor's Option Redemption (including the redemption price) - ---------------- ----------------- ---------- -------------------------------- 02/15/03 Yes Yes 100% 08/15/03 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms - --------------- ----------- ----------- ------ ----------- $5,601,960.00 $68,040.00 $2.00 ABN AMRO Financial Services, Inc.