1
PRICING SUPPLEMENT
Registration No. 333-08369-01
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
--------------------------------------------------------------------------------
Pricing Supplement No. 54 Trade Date: 08/09/01
(To Prospectus dated March 22, 2000 and Prospectus Issue Date: 08/16/01
Supplement dated January 29, 2001)
The date of this Pricing Supplement is August 13, 2001
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UCF9 $5,405,000.00 6.0% 08/15/13 100%
Interest Payment
Frequency Subject to Dates and terms of redemption
(begin date) Survivor's Option Redemption (including the redemption price)
---------------- ----------------- ---------- --------------------------------
09/15/01 Yes Yes 100% 08/15/03
monthly semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
--------------- ----------- ----------- ------ -----------
$5,332,032.50 $72,967.50 $2.75 ABN AMRO Financial
Services, Inc.