Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 30

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 30
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 in the City of New York, United States.

S-26

Calculation of Interest During the Floating Rate Period

During the applicable Floating Rate Period, the interest period with respect to each of the notes will begin on (and include) a Floating Rate
Interest Payment Date and end on (but exclude) the following Floating Rate Interest Payment Date (each, a “Floating Rate Interest Period”); provided, however, that the initial Floating Rate Interest Period (i) with respect to
each series of the fixed-to-floating rate notes will be the period from (and including) the applicable Call Date, to (but excluding) the initial Floating Rate Interest
Payment Date and (ii) with respect to the floating rate notes, will be the period from (and including) the Issue Date, to (but excluding) the initial Floating Rate Interest Payment Date. The floating rate interest determination date
(“Floating Rate Interest Determination Date”) for each Floating Rate Interest Period will be on the second U.S. Government Securities Business Day (as defined below) preceding the applicable Floating Rate Interest Payment Date.
“U.S. Government Securities Business Day” means any day except for a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed
for the entire day for purposes of trading in U.S. government securities.

The initial Floating Interest Rate will be in effect
(i) with respect to each series of fixed-to-floating rate notes, from (and including) the applicable Call Date to (but excluding) the first applicable Floating Rate
Interest Reset Date (as defined below) and (ii) with respect to the floating rate notes, from (and including) the Issue Date to (but excluding) the first applicable Floating Rate Interest Reset Date. Thereafter, the Floating Interest Rate will
reset (i) on June 25, 2028, September 25, 2028 and December 25, 2028, with respect to the 2029 notes, (ii) on June 25, 2030, September 25, 2030 and December 25, 2030, with respect to the 2031 notes,
(iii) on June 25, 2035, September 25, 2035 and December 25, 2035, with respect to the 2036 notes and (iv) on March 25, June 25, September 25, and December 25 in each year, commencing on June