PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes - ------------------------------------------------------------------------------- Pricing Supplement No. 44 Trade Date: 11/08/02 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 11/15/02 Supplement dated December 20, 2001) The date of this Pricing Supplement is November 12, 2002 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UES9 $3,837,000.00 4.25% 11/15/11 100% Interest Payment Frequency Subject to Dates and terms of redemption (begin date) Survivor's Option Redemption (including the redemption price) - ---------------- ----------------- ---------- -------------------------------- 12/15/02 Yes Yes 100% 11/15/03 monthly semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms - --------------- ----------- ----------- ------ ----------- $3,775,608.00 $61,392.00 $2.00 ABN AMRO Financial Services, Inc.