PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes - -------------------------------------------------------------------------------- Pricing Supplement No. 50 Trade Date: 01/13/03 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 01/16/03 Supplement dated December 20, 2001) The date of this Pricing Supplement is January 14, 2003 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UEY6 $4,462,000.00 5.00% 01/15/17 100% Interest Payment Frequency Dates and terms of redemption (begin date) Survivor's Option Subject to Redemption (including the redemption price) ---------------- ----------------- ---------------------- -------------------------------- 07/15/03 Yes Yes 100% 01/15/04 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms --------------- ----------- ----------- ------ ----------- $4,397,301.00 $64,699.00 $3.50 ABN AMRO Financial Services, Inc.