Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 80

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 80
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 be exceeded, or (iii) a Trigger Event or a Liquidation Event having occurred; and                           |

| (b) | a cancellation or deemed cancellation of interest (in each case, in whole or in part) in accordance with the     
 terms of the Indenture shall not constitute a default in payment or otherwise under the terms of the Securities. |

Interest shall only be due and payable to the extent it is not cancelled or deemed cancelled in accordance with the provisions described under “— Interest Payments Discretionary” and “— Restriction on Interest Payments” above. Any interest payment cancelled or deemed cancelled (in each case, in whole or in part) in the circumstances described above shall not accumulate or be payable at any time thereafter, and holders of the Securities shall have no rights thereto (whether upon a Liquidation Event or otherwise) or to receive any additional interest or compensation as a result of such cancellation or deemed cancellation. The non-paymentof any interest in whole or in part by the Issuer shall not constitute a default for any purpose on the part of the Issuer, and the holders and beneficial owners of the Securities shall have no right thereto whether in the case of a Liquidation Event or otherwise. Notice of Interest Cancellation If practicable, the Issuer shall provide notice of any cancellation of interest (in whole or in part) at least five business days prior to the relevant Interest Payment Date or redemption date to the trustee and the holders of the Securities and shall provide notice of any deemed cancellation of interest to the trustee and the holders of the Securities as promptly as practicable following the relevant Interest Payment Date or redemption date. Failure to provide such notice, however, shall not have any impact on the effectiveness of, or otherwise invalidate, any such cancellation or deemed cancellation of interest, and shall not constitute a default under the Securities for any purpose or give holders of the Securities any rights as a result of such failure. Ranking The Securities and any interest therein shall constitute the Issuer’s unsecured and subordinated obligations, ranking pari passuwithout any preference among themselves. The rights and claims of the holders of the Securities or any interest therein are subordinated as described in this section “— Ranking”. If a liquidation (upon dissolution ( ontbinding) or otherwise), moratorium of payments ( surseance van betaling) or bankruptcy ( faillissement) of the Issuer (any such event, a “ Liquidation Event”) occurs prior to a S-64

Trigger Event, the Securities shall be subordinated to Senior