PRICING SUPPLEMENT
Registration No. 333-108272
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
Pricing Supplement No. 7 Trade Date: 11/03/03
(To Prospectus dated September 8, 2003 and Prospectus Issue Date: 11/06/03
Supplement dated September 12, 2003)
The date of this Pricing Supplement is November 4, 2003
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UGQ1 $5,125,000.00 5.00% 11/15/17 100%
Interest Payment
Frequency Dates and terms of redemption
(begin date) Survivor's Option Subject to Redemption (including the redemption price)
---------------- ----------------- ------------------------- --------------------------------
monthly Yes Yes 100% 11/15/04
(12/15/03) semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
--------------- ----------- ----------- ------ -----------
$5,040,437.50 $84,562.50 $3.00 ABN AMRO Financial
Services, Inc.