A severe air quality degradation event occurred in the Santiago Metropolitan Area (SMA), Chile, in June 2014. Meteorological and air quality measurements from 11 stations in the area as well as numerical simulations using the Weather and Research Forecasting (WRF) model were used to explain the main reasons for the occurrence of elevated particulate matter (PM) concentrations. The conditions were characterized with formation of a coastal low in central Chile between the southeastern anticyclone and a high-pressure system over Argentina. At a local scale, these conditions generated a depression at the base of the inversion layer, an increase in the vertical thermal stability, lower humidity and low-wind conditions, which were conducive to a decrease in pollutant dispersion and insufficient ventilation of the polluted air. Measurements and simulations using the WRF model revealed a vertical structure of the boundary layer during these stagnant conditions and provided a basis for a trajectory analysis. The back-trajectory calculation showed that the transport of air parcels was contained in the valley during the highest concentrations. The analysis also enabled the definition of the threshold values of a simple indicator of air pollution (ventilation coefficient, VC), which confirmed the evolution of the episode and divided the observed daily concentrations into two groups, with one including values above the limits prescribed by the national air quality standards (NAQS) and the other including values below these limits. For the SMA, the daily PM concentrations above the NASQ limits were associated with an overall mean threshold value of VC below 500 m2 s−1 (for PM2.5) and 300 m2 s−1 (for PM10). To apply the VC analysis to other pollutants and different geographic locations, different threshold values should be evaluated.