# EDGAR Filing Document

**Accession Number:** 0000100517
**File Stem:** 0001104659-26-006719
**Filing Date:** 2026-1
**Character Count:** 7772
**Document Hash:** 7ebf38b29ea21ba92445bc709fd1e1ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-006719.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001104659-26-006719

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260126

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** United Airlines Holdings, Inc.
- **CENTRAL INDEX KEY:** 0000100517
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR TRANSPORTATION, SCHEDULED [4512]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 362675207
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-275664
- **FILM NUMBER:** 26561762

**BUSINESS ADDRESS:**
- **STREET 1:** E. ANNA HA - WHQLD
- **STREET 2:** 233 SOUTH WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 872-825-4000

**MAIL ADDRESS:**
- **STREET 1:** E. ANNA HA - WHQLD
- **STREET 2:** 233 SOUTH WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** United Continental Holdings, Inc.
- **DATE OF NAME CHANGE:** 20100930

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UAL CORP /DE/
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLEGIS CORP
- **DATE OF NAME CHANGE:** 19880613
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** United Airlines Holdings, Inc.
- **CENTRAL INDEX KEY:** 0000100517
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR TRANSPORTATION, SCHEDULED [4512]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 362675207
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** E. ANNA HA - WHQLD
- **STREET 2:** 233 SOUTH WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 872-825-4000

**MAIL ADDRESS:**
- **STREET 1:** E. ANNA HA - WHQLD
- **STREET 2:** 233 SOUTH WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** United Continental Holdings, Inc.
- **DATE OF NAME CHANGE:** 20100930

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UAL CORP /DE/
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLEGIS CORP
- **DATE OF NAME CHANGE:** 19880613

**Issuer Free Writing Prospectus**

**Filed pursuant to Rule 433(d)**

**Registration Nos. 333-275664 and 333-275664-01**

**PRICING SUPPLEMENT**

**January 26, 2026**

**United Airlines Holdings, Inc.**

**$1,000,000,000 5.375% Senior Notes due 2031**

**Pricing Supplement dated January 26, 2026 to the Preliminary Prospectus Supplement dated January 26, 2026 of United Airlines Holdings, Inc. ("UAL") (the "Preliminary Prospectus Supplement").**

This Pricing Supplement is qualified in its entirety by reference to the Preliminary Prospectus Supplement. 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.

---

| | |
|:---|:---|
| **Issuer:** | United Airlines Holdings, Inc. |
| **Guarantor:** | United Airlines, Inc. |
| **Aggregate Principal Amount:** | $1000000000 |
| **Title of Securities:** | 5.375% Senior Notes due 2031 |
| **Distribution:** | SEC registered |
| **Maturity:** | March 1, 2031 |
| **Coupon:** | 5.375% |
| **Public Offering Price:** | 100% |
| **Yield to Maturity:** | 5.375% |
| **Spread to Benchmark Treasury:** | 150 basis points |
| **Benchmark Treasury:** | UST 4.125% due March 31, 2031 |
| **Ratings\*** **:** | Moody's: Ba2/ S&P: BB+/ Fitch BB+ |
| **Underwriting Discounts and Commissions:** | $10000000.00 |
| **Proceeds, Before Expenses, to UAL:** | $990000000.00 |
| **Interest Payment Dates:** | March 1 and September 1, commencing September 1, 2026 |
| **Optional Redemption:** | At any time, prior to September 1, 2030 (six months prior to maturity), the notes will be redeemable at the Issuer's option, in whole or in part, at a redemption price equal to the greater of (1) 100% of the principal amount of the notes being redeemed and (2) a make-whole amount, if any, plus, in either case, accrued and unpaid interest to the redemption date. On or after September 1, 2030 (six months prior to maturity), the notes will be redeemable at the Issuer's option, in whole or in part, at a redemption price of 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon to the redemption date. |

---

---

| | |
|:---|:---|
| **Underwriters:** | <u>Principal Amount of Notes</u> |
| Barclays Capital Inc. | $375000000 |
| J.P. Morgan Securities LLC | $200000000 |
| Citigroup Global Markets Inc. | $125000000 |
| Morgan Stanley & Co. LLC | $125000000 |
| BofA Securities, Inc. | $16000000 |
| BNP Paribas Securities Corp. | $16000000 |
| Credit Agricole Securities (USA) Inc. | $16000000 |
| Deutsche Bank Securities Inc. | $16000000 |
| Goldman Sachs & Co. LLC | $16000000 |
| Mizuho Securities USA LLC | $16000000 |
| MUFG Securities Americas Inc. | $16000000 |
| NatWest Markets Securities Inc. | $16000000 |
| Natixis Securities Americas LLC | $16000000 |
| SMBC Nikko Securities America, Inc. | $16000000 |
| Loop Capital Markets LLC | $5000000 |
| ING Financial Markets LLC | $3000000 |
| Raymond James & Associates, Inc. | $3000000 |
| Academy Securities, Inc. | $2000000 |
| Blaylock Van, LLC | $2000000 |
| **Trade Date:** | January 26, 2026 |
| **Settlement Date**†**:** | February 2, 2026 (T+5) |
| **CUSIP:** | 910047 AL3 |
| **ISIN:** | US910047AL34 |
| **Denominations:** | $2,000 x $1,000 |

---

**\*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.**

†Note**:** It is expected that delivery of the Notes will be made against payment therefor on or about February 2, 2025, which will be the fifth business day following the date hereof (this settlement cycle being referred to as T+5). Under Rule 15c6-1 of the SEC under the Exchange Act, trades in the secondary market generally are required to settle in one business day, unless the parties to the trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the initial T+5 settlement may be required, by virtue of the fact that the Notes initially will settle on a delayed basis, to specify an alternate settlement cycle at the time of any trade to prevent a failed settlement, and such purchasers should consult their own advisor.

**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 Web site 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 Barclays toll-free at +1 (888) 603-5847.**

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.