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Debt securities ING Groep N.V.
ING Groep N.V. has issued several hybrid securities to strengthen its capital base, or that of the Bank. These hybrid securities are perpetual fixed income securities with callability features, structurally subordinated to the senior debt instruments issued by ING Groep N.V.
Due to the characteristics of these securities ING Groep N.V. is allowed to include hybrid securities in its capital for regulatory purposes. Hybrid securities form an asset class in seniority and risk profile between equity and senior debt. The first column in the table below contains the terms and conditions per security.
Overview per hybrid security
|Date of issuance||Coupon||Initial Amount||Amount after tender||first call date||called on||Listed on|
|19 Jun, 2003||0.98%*||€750,000,000||€431,755,500||30 Jun, 2013||Euronext-Amsterdam, Euronext-Brussels|
|16 Jun, 2004||0.58%*||€1,000,000,000||€562,613,500||30 Jun, 2014||Euronext-Amsterdam, Euronext-Brussels|
|26 Sep, 2005||6.125%||$700,000,000||15 Jan, 2011||NYSE|
|13 Jun, 2007||6.375%||$1,045,000,000||15 Jun, 2012||NYSE|
|16 Apr, 2015||6.000% (reset after the first call date)||$1,000,000,000||16 Apr, 2020||GEM of Irish Stock Exchange|
|16 Apr, 2015||6.500% (reset after the first call date)||$1,250,000,000||16 Apr, 2025||GEM of Irish Stock Exchange|
|21 Nov, 2016||6.875% (reset after the first call date)||$1,000,000,000||16 Apr, 2022||GEM of Irish Stock Exchange|
|*coupon period: '29 June 2018 - 28 September 2018'|