Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 32

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 32
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 that interest payment (or if the Issuer elects to make a payment of a portion, but not all, of
such interest payment, the portion of such interest payment not paid) on the relevant Interest Payment Date or redemption date.

The interest rate on the Securities will be reset on each relevant Reset Date, which may affect the market value of the Securities.

The initial interest rate on the Securities will be 7.000% per annum. The interest rate on the Securities will be reset on each
relevant Reset Date such that from (and including) each such Reset Date, the applicable per annum interest rate will be equal to the sum of the applicable Reset Reference Rate on the relevant Reset Determination Date immediately preceding the
relevant Reset Date and 3.594%. In each case, the interest rate for the Securities following any relevant Reset Date may be less than the initial interest rate and/or the interest rate that applies immediately prior to such Reset Date, which would
affect the amount of any interest payments under the Securities and, by extension, could affect the market value of the Securities.

The administrator of SOFR may make changes that could change the value of SOFR or may discontinue SOFR.

The Reset Interest Rate is calculated by reference to a swap rate that is itself based on SOFR. The Federal Reserve Bank of New York (or its
successor) as administrator of SOFR may make methodological or other changes that could change the value of SOFR, including changes related to the method by which SOFR is calculated, eligibility criteria applicable to the transactions used to
calculate SOFR or timing related to the publication of SOFR. In addition, the administrator may alter, discontinue or suspend calculation or dissemination of SOFR, in which case a fallback method of determining the Reset Interest Rate on the
Securities will apply. The administrator has no obligation to consider the interests of holders when calculating, adjusting, converting, revising or discontinuing SOFR. Such changes, alterations, discontinuation or suspension could, among other
things, have the effect of reducing, increasing or otherwise affecting the volatility of the published rate or level of SOFR which could have a material adverse effect on the trading price of and return on the Securities (including the rate of
interest thereon).

Benchmark Unavailability and Discontinuation.

i. Temporary unavailability of the Screen Page

Where the Reset Interest Rate is to be determined by reference to the Screen Page (as defined herein) and the Screen Page is not available or
the relevant rate