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. 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.

ING Group informs that ING Perpetual Securities II (issued 19 June 2003) and ING Perpetual Securities III (issued 16 June 2004) will be floored at 0,00% in the case of a potential negative coupon rate as a consequence of market circumstances.

Overview per hybrid security

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

Perpetual 2
19 Jun, 2003 0.31%* €750,000,000 €431,755,500 30 Jun, 2013   Euronext-Amsterdam, Euronext-Brussels

Perpetual 3
16 Jun, 2004 0.0%* €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 redemption notice NYSE

16 Apr, 2015 6.000% (reset after the first call date) $1,000,000,000   16 Apr, 2020 redemption notice GEM of Euronext Dublin

16 Apr, 2015 6.500% (reset after the first call date) $1,250,000,000   16 Apr, 2025   GEM of Euronext Dublin

21 Nov, 2016 6.875% (reset after the first call date) $1,000,000,000   16 Apr, 2022   GEM of Euronext Dublin

26 Feb, 2019 6.750% (reset after the first call date) $1,250,000,000   16 Apr, 2024   GEM of Euronext Dublin

10 Sep, 2019 5.750% (reset after the first call date) $1,500,000,000   16 Nov, 2026   GEM of Euronext Dublin

28 Feb, 2020 4.875% $750,000,000   16 May, 2029**   GEM of Euronext Dublin
*coupon period: '31 March 2020 – 30 June 2020'
**includes a 6MPC. First reset date is 16 Nov, 2029

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