Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 48

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 48
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 be cancelled. All notes purchased on behalf of the Issuer by any member of the
Group other than the Issuer may be held, reissued, resold or, at the option of the Issuer, surrendered for cancellation to the trustee. Notes so surrendered shall be cancelled forthwith. Any notes so surrendered for cancellation may not be reissued
or resold and the obligations of the Issuer in respect of any such notes shall be discharged.

Events of Default and Remedies

Holders of the notes of any series will not be entitled to declare the principal amount of such notes due and payable under any
circumstances other than as described in the section entitled “Description of Debt Securities — Events of Default and Remedies — Events of Default and Acceleration of Principal” in the accompanying prospectus. Holders’
remedies for the Issuer’s breach of any obligations under the notes, including the Issuer’s obligation to make payments of principal and interest, are extremely limited as described in the section entitled “Description of Debt
Securities — Events of Default and Remedies — Limited Remedies for Non-Payment and Breach of Obligations; Trust Indenture Act Remedies” in the accompanying prospectus.

Substitution and Variation

Notwithstanding anything to the contrary in the notes or the Indenture or supplemental indenture with respect thereto, if a Loss Absorption
Disqualification Event has occurred and is continuing with respect to any series of the notes, then the Issuer may at its option at any time, and without any requirement for any consent or approval of the holders or beneficial owners of such notes,
substitute such notes, in whole but not in part, or vary the terms of such notes, in whole but not in part, so that the substituted notes are, or the notes remain following such variation, Compliant Notes. The Issuer shall give notice to the holders
of the notes of any substitution or variation of the notes not less than 15 days nor more than 30 days prior to the date fixed for such substitution or variation and to the trustee at least 5 business days prior to such date unless a shorter notice
period shall be satisfactory to the trustee.

By its acquisition of the notes or any beneficial interest therein, each holder and beneficial owner of the notes and each subsequent holder and beneficial owner of the notes, (i) acknowledges, accepts, agrees to be bound by, and consents to, the Issuer’s determination to substitute the notes or vary the terms of the