Issuer Free Writing Prospectus
Filed pursuant to Rule 433(d)
Registration No. 333-221865-01
Pricing Supplement
Dated October 20, 2020
United Airlines, Inc.
$3,000,000,000
2020-1 Pass Through Trust
Class A Pass Through Certificates, Series 2020-1
Pricing Supplement dated October 20, 2020 to the preliminary prospectus supplement dated October 19, 2020 relating to the Class A Certificates referred to below (as supplemented, the “Preliminary Prospectus Supplement”) of United Airlines, Inc. (“United”).
The information in this Pricing Supplement supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement.
Unless otherwise indicated, terms used but not defined herein have the meanings assigned to such terms in the Preliminary Prospectus Supplement.
| Securities: | Class A Pass Through Certificates, Series 2020-1 (“Class A Certificates”) |
| Amount: | $3,000,000,000 |
| CUSIP: | 90931G AA7 |
| ISIN: | US90931GAA76 |
| Coupon: | 5.875% |
| Make-Whole Spread over Treasuries: | T+50 |
| Initial Maximum Commitment Amount Under Liquidity Facilities: | $258,010,416.67 |
| Price to Public: | 100% |
| Underwriters: | |
| Goldman Sachs & Co. LLC | $545,400,000 |
| Citigroup Global Markets Inc. | $545,400,000 |
| Barclays Capital Inc. | $545,400,000 |
| J.P. Morgan Securities LLC | $545,400,000 |
| Morgan Stanley & Co. LLC | $545,400,000 |
| BofA Securities, Inc. | $273,000,000 |
| Concession to Selling Group Members: | 0.50% |
| Discount to Broker/Dealers: | 0.25% |
| Underwriting Commission: | $30,000,000 |
| Settlement: | October 28, 2020 (T+6) closing date, the 6th business day after the date hereof |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs toll-free 1-866-471-2526.
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