Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 32

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 32
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 of the relevant Floating Rate Interest Period (such date a “SOFR Index Determination Date”) and, for the initial Floating Rate Interest Period with respect to
the floating rate notes, the SOFR Index value on March 21, 2025.

Subject to the circumstances described under “—SOFR Discontinuation” below, if the SOFR Index is not published on any relevant SOFR Index Determination Date and a SOFR Benchmark Event and its related SOFR Benchmark Replacement Date has not occurred, the “SOFR Index Average”
for such Floating Rate Interest Period shall be calculated by the Calculation Agent on the relevant Floating Rate Interest Determination Date as follows:

with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a
percentage point, with 0.000005 being rounded upwards, where:

“d” for any SOFR Observation Period, means the number of
calendar days in the relevant SOFR Observation Period;

“do” for any SOFR Observation Period, means the number of U.S.
Government Securities Business Days in the relevant SOFR Observation Period;

“i” means a series of whole numbers from
one to do, each representing the relevant U.S. Government Securities Business Days in chronological order from (and including) the first U.S. Government Securities Business Day in the relevant SOFR Observation Period;

“ni” for any U.S. Government Securities Business Day
“i” in the relevant SOFR Observation Period, means the number of calendar days from (and including) such U.S. Government Securities Business Day “i” up to (but excluding) the following U.S. Government Securities Business Day
(“i+1”); and

“SOFRi” for any U.S. Government
Securities Business Day “i” in the relevant SOFR Observation Period, is equal to SOFR in respect of that day “i”.

In
connection with the SOFR provisions above, the following definitions apply:

“Bloomberg Screen SOFRRATE Page” means the
Bloomberg screen designated “SOFRRATE” or any successor page or service;

“NY Federal Reserve” means the
Federal Reserve Bank of New York;

“NY Federal Reserve’s Website” means the website of the NY Federal Reserve,
currently at www.newyorkfed.org, or any successor website of the NY Federal Reserve or the website of any successor administrator of SOFR;

S-28

“ Reuters Page USDSOFR=” means the Reuters page designated “USDSO