Bond ING Groep 0% ( XS1309487400 ) in USD

Issuer ING Groep
Market price 100 %  ▲ 
Country  Netherlands
ISIN code  XS1309487400 ( in USD )
Interest rate 0%
Maturity 22/10/2018 - Bond has expired



Prospectus brochure of the bond ING Bank XS1309487400 in USD 0%, expired


Minimal amount 1 000 USD
Total amount 379 000 USD
Detailed description ING Bank is a multinational banking and financial services corporation headquartered in Amsterdam, offering a wide range of banking products and services to individuals and businesses globally.

The Bond issued by ING Groep ( Netherlands ) , in USD, with the ISIN code XS1309487400, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 22/10/2018







Final Terms dated 26 October 2015
ING Bank N.V.
Issue of USD 379,000 Call Certificates linked to SXDP Index due October 2018
issued pursuant to a
40,000,000,000 Global Issuance Programme
Any person making or intending to make an offer of the Notes may only do so:
in circumstances in which no obligation arises for the Issuer or any Dealer to publish a prospectus
pursuant to Article 3 of the Prospectus Directive or to supplement a prospectus pursuant to Article
16 of the Prospectus Directive, in each case, in relation to such offer.
Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of
Notes in any other circumstances.
Part A ­ Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of (1) the "General Terms
and Conditions" set forth in the Base Prospectus for the issuance of Medium Term Notes and Inflation
Linked Notes dated 29 June 2015 of ING Bank N.V., ING Bank N.V., Sydney Branch and ING Americas
Issuance B.V., as supplemented from time to time, (the "Level 1 Programme Prospectus"), the "Terms
and Conditions of Index Linked Notes" set forth in the Base Prospectus for the issuance of Index Linked
Notes of ING Bank N.V. and ING Americas Issuance B.V. dated 29 June 2015, as supplemented from time
to time, (the "Index Linked Note Base Prospectus" and together with the Level 1 Programme Prospectus,
the "Prospectus") which constitutes a base prospectus for the purposes of Directive 2003/71/EC, as
amended from time to time (the "Prospectus Directive"). This document constitutes the Final Terms
applicable to the issue of Notes described herein for the purposes of Article 5.4 of the Prospectus Directive
(as implemented by the Dutch Financial Supervision Act (Wet op het financieel toezicht) and its
implementing regulations) and must be read in conjunction with such Prospectus. Full information on the
Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and
the Prospectus. The Prospectus is available for viewing at https://www.ingmarkets.com under the section
"Downloads" and copies of the Prospectus may be obtained from ING Bank N.V. at Foppingadreef 7, 1102
BD Amsterdam, The Netherlands.
Prospective investors should carefully consider the section "Risk Factors" in this Base Prospectus.
General Description of the Notes
1
Issuer:
ING Bank N.V.
2
Series Number:
7014
3
Specified Currency or Currencies:
USD
4
Aggregate Nominal Amount:
USD 379,000
5
Issue Price:
14.85 % of the Aggregate Nominal Amount
6
(i) Specified Denominations:
USD 1,000

(ii) Calculation Amount:
USD 1,000
7
Issue Date:
26 October 2015
8
Maturity Date:
22 October 2018




9
Interest Basis:
Not Applicable
10 Redemption/Payment Basis:
The Final Redemption Amount calculated in
accordance with paragraph 49 below.
11 Change of Interest Basis:
Not Applicable
12 Put/Call Options:
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13 Fixed Rate Note Provisions:
Not Applicable
14 Floating Rate Note Provisions:
Not Applicable
15 Zero Coupon Note Provisions:
Not Applicable
16 Tailor-Made Interest Note Provisions:
Not Applicable
17 Step-Up Interest Note Provisions:
Not Applicable
18 Floater Interest Note Provisions:
Not Applicable
19 Floater with Lock-In Interest Note

Provisions:
Not Applicable
20 Reverse Floater Interest Note Provisions:
Not Applicable
21 Ratchet Floater Interest Note Provisions:
Not Applicable
22 Switchable (Fixed to Floating) Interest Note
Provisions:
Not Applicable
23 Switchable (Floating to Fixed) Interest Note
Provisions:
Not Applicable
24 Steepener Interest Note Provisions:
Not Applicable
25 Steepener with Lock-In Interest Note

Provisions:
Not Applicable
26 Range Accrual(Rates) Interest Note

Provisions:
Not Applicable
27 Range Accrual(Spread) Interest Note

Provisions:
Not Applicable
28 Inverse Range Accrual Interest Note

Provisions:
Not Applicable
29 KO Range Accrual Interest Note

Provisions:
Not Applicable
30 Dual Range Accrual Interest Note

Provisions:
Not Applicable
31 Snowball Interest Note Provisions:
Not Applicable
32 SnowRanger Interest Note Provisions:
Not Applicable
33 Barrier(Rates) Interest Note Provisions:
Not Applicable
34 Reference Item(Inflation) Performance

Linked Interest Note Provisions:
Not Applicable
35 Reference Item(Inflation) Indexed Interest

Note Provisions:
Not Applicable
36 Step-Up Barrier Interest Note Provisions:
Not Applicable


37 Memory Interest Note Provisions:
Not Applicable
38 One Touch Memory Interest:
Not Applicable
39 Range Accrual(Index) Interest Note

Provisions:
Not Applicable
40 Barrier(Index) Interest Note Provisions:
Not Applicable
41 One Touch Barrier(Index) Interest
Not Applicable
42 Reference Item(Index) Performance Linked Not Applicable
Interest Note Provisions:
43 Best Of Interest:
Not Applicable
44 One Touch Lock-In(Index) Interest
Not Applicable
45 Annual Coupon Interest Provisions:
Not Applicable
46 Coupon Knock-Out:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
47 Issuer Call:
Not Applicable
48 Investor Put:
Not Applicable
49 Final Redemption Amount of each Note:
Calculated in accordance with the Warrant Note
Provisions
50 Inflation Indexed Redemption Note

Provisions:
Not Applicable
51 Inflation Indexed with Floor Redemption

Note Provisions:
Not Applicable
52 Uncapped (Partial) Capital Protection Note

Provisions:
Not Applicable
53 Capped (Partial) Capital Protection Note
Not Applicable
Provisions:
54 (Partial) Capital Protection With Knock-
Not Applicable
Out Note Provisions:
55 (Partial) Capital Protection (Vanilla) Note
Not Applicable
Provisions:
56 Reverse Convertible Note Provisions:
Not Applicable
57 Barrier Reverse Convertible Note
Not Applicable
Provisions:
58 Capped Outperformance Note Provisions:
Not Applicable
59 Capped Bonus Note Provisions:
Not Applicable
60 Express Note Provisions:
Not Applicable
61 Tracker Note Provisions:
Not Applicable
62 Outperformance Note Provisions:
Not Applicable
63 Bonus Note Provisions:
Not Applicable
64 Outperformance Bonus Note Provisions:
Not Applicable
65 Twin-Win Note Provisions:
Not Applicable
66 Warrant Note Provisions:
Applicable



(i) Asian-in:
Not Applicable

(ii) Asian-out:
Not Applicable

(iii) Business Day:
a day on which commercial banks and foreign
exchange markets settle payments and are open for
general business (including dealing in foreign
exchange and foreign currency deposits) in New
York

(iv) Fixed Best:
Not Applicable

(v) Flexo:
Not Applicable

(vi) Lookback-in:
Not Applicable

(vii) Lookback-out:
Not Applicable

(viii) Participation:
100 %

(ix) Specified Time:
Applicable

­
Constant Monitoring:
Not Applicable

­
Valuation Time Only:
Applicable

(x) Strike Date:
15 October 2015

(xi) Strike Level Percentage:
100 %

(xii) Valuation Date:
15 October 2018

(xiii) Warrant Type:
Call
67 Spread Warrant Note Provisions:
Not Applicable
68 Knock-Out Warrant Note Provisions:
Not Applicable
69 Other:

(i) Early Redemption Amount of each Note
payable on redemption for taxation
reasons or on Issuer event of default:
Early Redemption Amount to be equal to Fair
Market Value as set out in Condition 7(e)(iv) of the
General Conditions.

(ii) Notice period (if other than as set out in
the General Conditions):
As set out in the General Conditions.

(iii) Condition 7 (i) of the General
Conditions:
Applicable

(iv) Unwind Costs (with respect to Condition
7(k)
(Adjustments
and
Early
Redemption):
Applicable
PROVISIONS RELATING TO THE UNDERLYING INDICES OR BASKET OF INDICES
70 Maturity Date Extension:
Applicable

Number of Extension Business Days:
8 Business Days
71 Interest Payment Date Extension:
Not Applicable
72 Automatic Early Redemption:
Not Applicable
73 Averaging Disruption Provisions:
Not Applicable
74 Basket Disruption Provisions:
Not Applicable



­
Common Scheduled Trading Days:
Not Applicable

­
Common Disrupted Days:
Not Applicable

­
Individual Disrupted Days:
Not Applicable
75 Definition of Additional Disruption Event:


­
Change in Law:
Applicable

­
Hedging Disruption:
Applicable
76 Cut-off Dates:


­
Valuation Cut-Off Date:
Shall have the meaning given to it in Condition 9 of
the Index Linked Notes Conditions.

­
Strike Cut-Off Date:
Shall have the meaning given to it in Condition 9 of
the Index Linked Notes Conditions.
77 Index


Index:
STOXX Europe 600 Health Care Price Index
(Bloomberg code: SXDP <Index>).

Index Sponsor:
Shall have the meaning given to it in Condition 9 of
the Index Linked Notes Conditions.
GENERAL PROVISIONS APPLICABLE TO THE NOTES
78 Form of Notes:
Bearer Notes
(i) Form:
Temporary Global Note exchangeable for a
Permanent Global Note which is exchangeable for
Definitive Notes only on the occurrence of an
Exchange Event, subject to mandatory provisions
of applicable laws and regulations.

(ii) New Global Note:
No
79 Additional Financial Centre(s) or other

special provisions relating to Payment

Days:
None
80 Talons for future Coupons to be attached to No
Definitive Bearer Notes (and dates on which
such Talons mature):
81 FX, BENCHMARK, FX CONVERTIBILITY EVENT, FX TRANSFERABILITY EVENT
AND TAX EVENT PROVISIONS

(i) FX Provisions:
Not Applicable

(ii) Benchmark Provisions:
Not Applicable

(iii) FX Convertibility Event Provisions:
Not Applicable

(iv) FX Transferability Event Provisions:
Not Applicable

(v) Tax Event Provisions:
Not Applicable
82 INFLATION LINKED PROVISIONS:
Not Applicable

ING BANK N.V.
By:

By:




Duly authorised
Duly authorised



PART B ­ OTHER INFORMATION
1
LISTING
(i) Listing:
the Luxembourg Stock Exchange
(ii) Admission to trading:
Application is expected to be made by the Issuer (or on its behalf)
for the Notes to be admitted to trading on the Luxembourg Stock
Exchange with effect from the Issue Date or as soon as possible
thereafter.
(iii) As-if-and-when-issued-trading: Not Applicable
2
RATINGS
Ratings:
The Notes will not be rated

3
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save for any fees payable to the Dealers, so far as the Issuer is aware, no person involved in the issue
of the Notes has an interest material to the offer. The Dealers and their affiliates have engaged, and may in
the future engage, in investment banking and/or commercial banking transactions with, and may perform
other services for, the Issuer and its affiliates in the ordinary course of business.
4
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i) Reasons for the offer:
See "Use of Proceeds" wording in the Level 1 Programme
Prospectus.
(ii) Estimated total expenses:
1,500

5
DETAILS OF UNDERLYING INDEX/INDICES
The return on the Notes is linked to the performance of the underlying Index. The level of the Index may
go up and down during the tenor of the Note. Any movement in the level of the Index might have an effect
on the value of the Note. Details of the past and further performance of the Index and its volatility can be
obtained from Bloomberg page: SXDP <Index>.
6
POST-ISSUANCE INFORMATION
There will be no post-issuance information in relation to the Notes.
7
OPERATIONAL INFORMATION
(i) ISIN:
XS1309487400
(ii) Common Code:
130948740
(iii) Other relevant code:
AE5513
(iv) Any clearing system(s) other than
Euroclear Bank SA/NV and
Clearstream
Banking,
société
anonyme, Euroclear Netherlands
and
the
Depository
Trust
Company
and
the
relevant


identification number(s):
Not Applicable
(v) Delivery:
Delivery against payment
(vi) Names and addresses of additional
Paying Agent(s) (if any):
Not Applicable
(vii) Name and address of Calculation
Agent (if other than the Issuer or
Guarantor):
Not Applicable
(viii) Name and address of Finnish
Registrar/Norwegian

Registrar/Swedish Registrar:
Not Applicable
(ix) Name and address of Finnish
Issuing Agent/Norwegian Issuing
Agent/Swedish Issuing Agent:
Not Applicable
(x) Intended to be held in a manner
which would allow Eurosystem
eligibility:
No
Whilst the designation is set at "No", should the Eurosystem
eligibility criteria be amended in the future the Notes may then be
deposited with one of the International Central Securities
Depositories as Common Safekeeper. Note that this does not
necessarily mean that the Notes will ever be recognised as
eligible collateral for Eurosystem monetary policy and intra-day
credit operations by the Eurosystem at any time during their life.
Such recognition will depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
8
DISTRIBUTION
(i) Method of distribution:
Non-syndicated
(ii) If syndicated, names of Managers: Not Applicable
(iii) If non-syndicated, of relevant
Dealer:
The Notes are not being underwritten by any Dealer(s).
(iv) Total commission and concession: Not Applicable
(v) U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA D
(vi) ERISA:
Not Applicable
(vii) Additional selling restrictions:
Not Applicable
(viii) Non-Exempt Offer:
Not Applicable
(ix) General Consent:
Not Applicable
9
GENERAL
Total amount of the offer; if the
amount is not fixed, description of the
arrangements and time for announcing
the definitive amount to the public:
The Notes are not subject to a public offer.






Summaries are made up of disclosure requirements known as "Elements". These Elements are
numbered in Sections A to E (A.1 to E.7). This summary contains all the Elements required to be included
in a summary for the Notes and the Global Issuer. Because some Elements are not required to be addressed,
there may be gaps in the numbering sequence of the Elements. Even though an Element may be required to
be inserted in a summary because of the nature of the Notes and the Global Issuer, it is possible that no
relevant information can be given regarding the Element. In this case, a short description of the Element
should be included in the summary with the mention of "Not Applicable".
Section A ­ Introduction and warnings
Element

A.1
Warning and
This summary must be read as an introduction to the Base Prospectus. Any
introduction
decision to invest in the Notes should be based on a consideration of the

Base Prospectus as a whole, including any documents incorporated by

reference. Where a claim relating to the information contained in the Base
Prospectus is brought before a court, the plaintiff may, under the national

legislation of Member States of the European Economic Area where the

claim is brought, be required to bear the costs of translating the Base

Prospectus before the legal proceedings are initiated. Civil liability

attaches only to those persons who have tabled the summary, including any

translation thereof, but only if the summary is misleading, inaccurate or

inconsistent when read together with the other parts of the Base Prospectus

or it does not provide, when read together with the other parts of the Base
Prospectus, key information in order to aid investors when considering

whether to invest in the Notes.

A.2
Consent by the
The Issuer has not expressed its consent to the use of the Prospectus for
Issuer to the use of
subsequent re-sales or placements of the Notes.
the Base
Prospectus for
subsequent resale
or final placement
by financial
intermediaries,
during the offer
period indicated,
and the conditions
attached to such
consent
Section B ­ Issuer
Element Title

B.1
Legal and
ING Bank N.V. (the "Global Issuer" or the "Issuer")
commercial name

of the Issuer


Element Title

B.2
The domicile and
The Global Issuer is a public limited company (naamloze vennootschap)
legal form of the
incorporated under the laws of The Netherlands on 12 November 1927,
Issuer, the
with its corporate seat (statutaire zetel) in Amsterdam, The Netherlands.
legislation under
which the Issuer
operates and its
country of
incorporation
B.4b
A description of any The results of operations of the Global Issuer are affected by
known trends
demographics and by a variety of market conditions, including economic
affecting the Issuer
cycles, banking industry cycles and fluctuations in stock markets, interest
and the industries in and foreign exchange rates, political developments and client behaviour
which it operates
changes.
Macroeconomic developments in 2014
In 2014, the development trajectories of the US and the UK on the one
hand, and Europe on the other, diverged. The US economy continued to
grow steadily and the Federal Reserve (Fed) was able to end part of its
unconventional monetary policies, the monthly buying of securities (i.e.
quantitative easing). For investors worldwide, one question dominated the
picture in the second half of the year: when would the Fed start raising
rates? This is expected sometime in 2015. The UK also saw healthy
economic growth with interest rate increases expected there in 2015 as
well.
Meanwhile in the Eurozone, the recovery remained weak, unstable and
uneven. Persistently low inflation (averaging 0.4 percent in 2014) and
worries about imminent deflation prompted the European Central Bank
(ECB) to take a series of unconventional measures. The main refinancing
rate was lowered to 0.05 percent in 2014, while the interest rate on
deposits held by banks at the ECB moved into negative territory, to -0.2
percent. The ECB implemented conditional long-term refinance operations
and announced purchase programmes for covered bonds and asset-backed
securities.
The Dutch economy, with its housing market stabilised and domestic
demand no longer acting as a drag on growth, performed slightly better
than the Eurozone average.
Meanwhile the Italian recession continued. The French economy
underperformed while the German economy decelerated as the loss of
momentum in emerging markets, ongoing tensions in eastern Ukraine and
sanctions imposed on and by Russia affected exports. A weakening euro
during 2014 was one positive for European exports.
With the European economic recovery still distinctly lacklustre, the last
quarter of 2014 saw the ECB repeatedly allude to possible additional
measures in 2015. Quantitative easing was subsequently announced in
January 2015.
Financial markets rallied for most of 2014, with US stock markets
reaching record highs. Yields on US Treasury bonds moved with changing
expectations for the timing of future Fed interest hikes. European stock
markets followed the US upwards, although as the year progressed the


Element Title

effects of the crisis in Ukraine and the weakness of the European recovery
started to weigh more on markets. European bond yields fell and spreads
between European sovereigns decreased in line with ECB policy.
Progress on regulatory initiatives that are most relevant to the Global
Issuer
November 2014, saw the start of the Single Supervisory Mechanism
(SSM). The ECB took over responsibility for the supervision of the major
European banks. The ECB had already prepared the ground with a
comprehensive assessment of all supervised banks to test the stability of
the financial system in stressed conditions.
In 2014, agreement was also reached on the Single Resolution Mechanism
(SRM) consisting of a Single Resolution Board (SRB) and a Single
Resolution Fund (SRF). The SRM will apply to banks covered by the SSM
to ensure an orderly resolution of failing banks within the Eurozone.
The Capital Requirements Directive IV (CRD IV) came into force on 1
January 2014. This, and later refinements, implemented European
regulation on capital, liquidity and other aspects such as remuneration.
Broadly speaking, CRD IV is an essential step towards a single rule book
in the European Union.
The Bank Recovery and Resolution Directive (BRRD) also came into
effect in 2014. This requires European banks and authorities to put
recovery and resolution plans in place and mandates the establishment of
national resolution funds to be financed by banks.
In 2014, EU agreement was reached regarding a revision of the Deposit
Guarantee Scheme (DGS) directive. EU Member States are obliged to
build up ex-ante deposit guarantee funds of an (in principle) minimum
target size of 0.8 percent of covered deposits in 10 years. Banks'
contributions will be risk based taking into account EBA guidance. The
DGS directive will be applicable as of 2015 and the Global Issuer will
start to contribute to the Dutch DGS fund as of mid-2015.
Further, there have been various regulatory developments that impact the
product offerings and therefore the customers of the Global Issuer directly,
currently or in future years. Other important reforms in this regard seek to
enhance an efficient and competitive internal market for consumers by
removing barriers to cross-border activity and promoting a level playing
field between providers, e.g. the European Mortgages Credit Directive.
Besides this, the improvement of the European payments market also
remains an important objective, and is addressed by the Payments Services
Directive II.
Finally, the Dutch Parliament has approved the introduction of the
Banker's Oath, a set of principles that reconfirms the industry's
commitment to ethical behaviour. From 1 January 2015, it includes a
disciplinary sanction mechanism for all Netherlands-based employees.
Oath taking has been a requirement already for Members of the Executive
and Supervisory Boards since 1 January 2013. The adopted legislation
extends this to all internal and external employees working in The
Netherlands who have a contract of employment with the Global Issuer.