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Debt securities ING Groep N.V.

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Hybrid securities

ING Groep N.V. has issued several hybrid securities to strengthen its capital base, or that of the Bank or Insurance. 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, e.g. call and coupon deferral features, 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

ISIN code/
CUSIP code/
Date of issuance Coupon Initial Amount Amount after tender first call date called on Listed on

15 Dec, 2000 4.06965%* $1,500,000,000 $522,210,000 31 Dec, 2010   Luxembourg Stock Exchange

18 Jul, 2002 7.05% $800,000,000   15 Sep, 2007 15 Sep, 2016 NYSE

12 Dec, 2002 7.20% $1,100,000,000   15 Dec, 2007 15 Mar, 2017 NYSE

Perpetual 2
19 Jun, 2003 1.10%* €750,000,000 €431,755,500 30 Jun, 2013   Euronext-Amsterdam, Euronext-Brussels

28 Oct, 2003 6.20% $500,000,000   15 Jan, 2009   NYSE

Perpetual 3
16 Jun, 2004 0.70%* €1,000,000,000 €562,613,500 30 Jun, 2014   Euronext-Amsterdam, Euronext-Brussels

8 Jun, 2005 4.176%; (as from first call date: 3-month EURIBOR + 180bp) €500,000,000 €168,689,000 8 Jun, 2015 8 Jun, 2015 Luxembourg Stock Exchange

26 Sep, 2005 6.125% $700,000,000   15 Jan, 2011   NYSE

8 Dec, 2005 5.775% (as from first call date: 3-month LIBOR + 168bp) $1,000,000,000 $364,247,000 8 Dec, 2015  8 Dec, 2015 Not listed

17 Mar, 2006 5.140%; (as from first call date: 3- month GBP LIBOR + 162bp) £600,000,000 £66,140,000 17 Mar, 2016  17 Mar, 2016 Luxembourg Stock Exchange

13 Jun, 2007 6.375% $1,045,000,000   15 Jun, 2012   NYSE

4 Oct, 2007 7.375% $1,500,000,000   15 Oct, 2012 15 Jul, 2015 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: '30 March 2017 - 30 June 2017'

Most recent programme documentation

From 19 August 2009 European hybrid securities will be issued under the EUR 45 billion Debt Issuance Programme. Please click directly hereunder for the most recent base prospectus, the registration document and the supplements – if any. For European hybrid securities issued before 19 August 2009, earlier versions of the programme prospectus are applicable.

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