PRICING SUPPLEMENT
Registration No. 333-08369-01
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
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Pricing Supplement No. 11 Trade Date: 03/25/02
(To Prospectus dated March 22, 2000 and Prospectus Issue Date: 03/28/02
Supplement dated December 20, 2001)
The date of this Pricing Supplement is March 26, 2002
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UDH4 $9,497,000.00 5.00% 12/15/07 100%
Interest Payment
Frequency Subject to Dates and terms of redemption
(begin date) Survivor's Option Redemption (including the redemption price)
---------------- ----------------- ---------- --------------------------------
04/15/02 Yes Yes 100% 03/15/03
monthly semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
--------------- ------------- ----------- ------ -----------
$9,383,036.00 $113,964.00 $1.75 ABN AMRO Financial
Services, Inc.