Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 16

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 16
---
 notes are subject to statutory write-down and conversion powers, bail-inpowers and other resolution powers that may adversely affect an investment in the notes.

For a description of the risks
associated with regulatory action in the event of a bank failure, please see “Risks Relating To Our Debt Securities And Capital Securities — Risks Relating to Our Debt Securities and Capital Securities Generally — Regulatory action in
the event of a bank failure could materially adversely affect the value of our debt securities and capital securities” in the accompanying prospectus and “Item 3. Key Information — Risk Factors — Risks related to the
regulation and supervision of the Group — We are subject to the EU recovery and resolution regime and several other bank recovery and resolution regimes that include statutory write-down and conversion as well as other powers, which remains
subject to significant uncertainties as to scope and impact on us” and “Item 4. Information on the Company — Regulation and Supervision — Bank recovery and resolution directive” in the 2024 Form 20-F. If any of these regulatory powers or any similar powers were to be exercised in respect of the Issuer (or any member of the Group), there could be a material adverse effect on the rights of holders,
including through a material adverse effect on the price of the notes.

Holders have very limited remedies in the case of non-paymentunder the notes.

Under the terms of the notes, there is no event of default except
in the event of the Issuer’s bankruptcy or, in certain circumstances, liquidation. The trustee and holders will be entitled to declare the principal amount of the notes due and payable prior to the scheduled maturity only upon the Issuer’s
bankruptcy or a relevant liquidation (in which case the principal amount of the notes will be automatically accelerated). Your remedies for the Issuer’s breach of any obligations under the notes (including the Issuer’s obligation to pay
amounts of principal and interest that have become due) are extremely limited, as described under “Description of Notes — Events of Default and Remedies.”

S-16

The non-paymentof interest or principal on any interest payment date or redemption date (in whole or in part) is not an event of default under the terms of the notes or the Indenture. Accordingly, there is no right under the notes or the Indenture to accelerate any payments under the notes in such circumstances. In addition, the exercise of the Dutch Bail-inPower by the relevant resolution authority with respect to the notes will not constitute an event