Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 92

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 92
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 a disruption in the currency markets. If we made payment
in U.S. dollars, the exchange rate we would use would be determined in the manner described under “Description of Debt Securities — Payment Mechanics for Debt Securities — How We Will Make Payments Due in Other Currencies — When
the Specified Currency Is Not Available.” A determination of this kind may be based on limited information and would involve significant discretion on the part of our foreign exchange agent. As a result, the value of the payment in dollars an
investor would receive on the payment date may be less than the value of the payment the investor would have received in the other currency if it had been available, and may even be zero. In addition, a government may impose extraordinary taxes on
transfers of a currency. If that happens, we will be entitled to deduct these taxes from any payment on securities payable in that currency.

We Will Not Adjust Non-DollarSecurities to Compensate for Changes in Currency Exchange Rates

Except as described above, we will not make any adjustment or change in the terms of a debt security or capital security payable
in a currency other than U.S. dollars in the event of any change in exchange rates for that currency, whether in the event of any devaluation, revaluation or imposition of exchange or other regulatory controls or taxes or in the event of other
developments affecting that currency, the U.S. dollar or any other currency. Consequently, investors in non-dollar debt securities and capital securities will bear the risk that their investment may be
adversely affected by these types of events.

In a Lawsuit for Payment on a Non-DollarSecurity, an Investor May Bear Currency Exchange Risk

Unless otherwise specified in your prospectus supplement, the debt
securities and capital securities under the applicable indenture will be governed by New York law. Under Section 27 of the New York Judiciary Law, a state court in the State of New York rendering a judgment on a security denominated in a
currency other than U.S. dollars would be required to render the judgment in the specified currency; however, the judgment would be converted into U.S. dollars at the exchange rate prevailing on the date of entry of the judgment. Consequently, in a
lawsuit for payment on a security denominated in a currency other than U.S. dollars, investors would bear currency exchange risk until judgment is entered, which could be a long time.

In courts outside of New York, investors may not be able to obtain judgment in a specified currency other than