Zero kinetic energy photoelectron (ZEKE) spectroscopy may be an interesting technique for monitoring the time evolution of state selected atomic products in ultrafast pump-probe experiments. We investigate here the effects of laser intensity by studying three-photon non-resonant ZEKE spectra of atomic xenon at the first ionization threshold with tunable femtosecond UV pulses. High intensity introduces a new broadening due to ponderomotive effects in the ZEKE spectrum. It is demonstrated that a three-photon ZEKE spectrum can be recorded at intensities where the broadening due to these ponderomotive effects (i.e. the ac Stark shift for high-n Rydberg states) is small in comparison with the effective laser bandwidth.