Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 45

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 45
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 section entitled “Description of Debt                                           
 Securities — Payment of Additional Amounts with Respect to the Debt Securities” in the accompanying prospectus, as a result of a Tax Law Change; or |

| (2) | a person located outside The Netherlands, or a jurisdiction in which a successor of the Issuer is organized,                                                                                                                                         
 into which we have merged or to which we have conveyed, transferred or leased property, would be required to pay Additional Amounts. We would have the option to redeem the notes even if we or such person are required to pay Additional Amounts   
 immediately after such merger, conveyance, transfer or lease. We and such person are not required, however, to use reasonable measures to avoid the obligation to pay Additional Amounts in the event of such merger, conveyance, transfer or lease. |

We may also redeem each series of notes in whole, but not in part, at our option at any time upon giving notice to holders of the relevant notes as set out in “Description of Notes — Redemption — Notice of Redemption” below, at a redemption price equal to the principal amount of such notes, upon the occurrence of a Loss Absorption Disqualification Event (where such Loss Absorption Disqualification Event is continuing). If we redeem a series of notes, we will do so at the specified redemption price, together with interest accrued to the redemption date. Our ability to redeem each series of notes in these circumstances will be subject to obtaining the prior permission of the relevant resolution authority and/or competent authority, as described in “Description of Notes – Conditions to Redemption, Substitution, Variation and Purchase” below. Such permission may be granted in the context of a redemption of notes for tax reasons only if there is a change in the applicable tax treatment of such notes which we demonstrate to the satisfaction of the relevant resolution authority and/or competent authority, as applicable, is material and was not reasonably foreseeable at the Issue Date. “ Loss Absorption Regulations” means, at any time, the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments of The Netherlands, the European Central Bank, the Dutch Central Bank or other competent authority, the resolution authority, the Financial Stability Board and/or of the European Parliament or of the Council of the European Union then in effect in The Netherlands and applicable to us and/or the Regulatory Group including, without limitation to the generality of the foregoing, any delegated or implementing acts (such as regulatory technical standards) adopted by the