PRICING SUPPLEMENT
Registration No. 333-108272
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
Pricing Supplement No. 5 Trade Date: 10/20/03
(To Prospectus dated September 8, 2003 and Prospectus Issue Date: 10/23/03
Supplement dated September 12, 2003)
The date of this Pricing Supplement is October 22, 2003
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UGN8 $2,884,000.00 5.15% 10/15/18 100%
Interest Payment
Frequency Dates and terms of redemption
(begin date) Survivor's Option Subject to Redemption (including the redemption price)
---------------- ----------------- ------------------------ --------------------------------
quarterly Yes Yes 100% 10/15/04
(01/15/04) semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
--------------- ----------- ----------- ------ -----------
$2,833,530.00 $50,470.00 $3.50 ABN AMRO Financial
Services, Inc.