PRICING SUPPLEMENT
Registration No. 333-108272
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
- --------------------------------------------------------------------------------
Pricing Supplement No. 15 Trade Date: 01/05/04
(To Prospectus dated September 8, 2003 and Prospectus Issue Date: 01/08/04
Supplement dated September 12, 2003)
The date of this Pricing Supplement is January 6, 2004
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UGY4 $2,728,000.00 4.00% 01/15/12 100%
Interest Payment
Frequency Dates and terms of redemption
(begin date) Survivor's Option Subject to Redemption (including the redemption price)
- ---------------- ----------------- -------------------- --------------------------------
monthly Yes Yes 100% 01/15/05
(02/15/04) semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
- --------------- ----------- ----------- ------ -----------
$2,697,992.00 $30,008.00 $2.00 ABN AMRO Financial
Services, Inc.