Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 220

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 220
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 include market discount in income currently over the life of all debt instruments having market discount that you acquire on or after the first day of the first taxable year to which the election applies. You may not revoke any election to apply the constant-yield method to all interest on a debt security or the deemed elections with respect to amortizable bond premium or market discount debt securities without the consent of the Internal Revenue Service. Variable Rate Debt Securities. Your debt security will be a variable rate debt security if:

| · |     | your debt security’s issue price does not exceed the total non-contingent principal payments by more than the 
 lesser of:                                                                                                    |

(1) 0.015 multiplied by the product of the total non-contingentprincipal payments and the number of complete years to maturity from the issue date; or (2) 15% of the total non-contingentprincipal payments;

| · |     | your debt security provides for stated interest, compounded or paid at least annually, only at: |

(1) one or more qualified floating rates; (2) a single fixed rate and one or more qualified floating rates; (3) a single objective rate; or (4) a single fixed rate and a single objective rate that is a qualified inverse floating rate; and

| · |     | the value of any floating rate on any date during the term of your debt security is set no earlier than three months prior to the first day on which that value 
 is in effect and no later than one year following that first day.                                                                                               |

Your debt security will have a variable rate that is a qualified floating rate if:

| · |     | variations in the value of the rate can reasonably be expected to measure contemporaneous variations in the cost of newly borrowed funds in the currency in 
 which your debt security is denominated; or                                                                                                                 |

| · |     | the rate is equal to such a rate either: |

(1) multiplied by a fixed multiple that is greater than 0.65 but not more than 1.35 or -106-

(2) multiplied by a fixed multiple greater than 0.65 but not more than 1.35, and then increased or decreased by a fixed rate. If your debt security provides for two or more qualified floating rates that are within 0.25 percentage points of each other on the issue date or can reasonably be expected to have approximately the same values throughout the term of the debt security, the qualified floating rates together constitute a single qualified floating rate