PRICING SUPPLEMENT
Registration No. 333-108272
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
- -------------------------------------------------------------------------------
Pricing Supplement No. 11 Trade Date: 12/01/03
(To Prospectus dated September 8, 2003 and Prospectus Issue Date: 12/04/03
Supplement dated September 12, 2003)
The date of this Pricing Supplement is December 2, 2003
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UGU2 $3,525,000.00 5.00% 12/15/18 100%
Interest Payment
Frequency Dates and terms of redemption
(begin date) Survivor's Option Subject to Redemption (including the redemption price)
- ---------------- ----------------- --------------------- --------------------------------
monthly Yes Yes 100% 12/15/04
(01/15/04) semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
- --------------- ----------- ----------- ------ -----------
$3,465,075.00 $59,925.00 $3.50 ABN AMRO Financial
Services, Inc.