1 PRICING SUPPLEMENT Registration No. 333-08369-01 Filed Pursuant to Rule 424(b)(2) United Parcel Service, Inc. UPS Notes -------------------------------------------------------------------------------- Pricing Supplement No. 47 Trade Date: 06/26/01 (To Prospectus dated March 22, 2000 and Prospectus Issue Date: 06/29/01 Supplement dated January 29, 2001) The date of this Pricing Supplement is June 28, 2001 CUSIP or Common Code Principal Amount Interest Rate Maturity Date Price to Public ----------- ---------------- ------------- ------------- --------------- 91131UCA0 $15,000,000.00 6.5% 06/15/16 100% Interest Payment Frequency Subject to Dates and terms of redemption (begin date) Survivor's Option Redemption (including the redemption price) ---------------- ----------------- ---------- -------------------------------- 12/15/01 Yes Yes 100% 06/15/02 semi-annually semi-annually thereafter Discounts and Proceeds to UPS Commissions Reallowance Dealer Other Terms --------------- ----------- ----------- ------ ----------- $14,775,000.00 $225,000.00 $3.50 ABN AMRO Financial Services, Inc.