Obligation ING Groep 4% ( XS0479696204 ) en EUR

ING Groep

100 % ⇌

Pays-Bas

XS0479696204 ( en EUR )

4% par an ( paiement annuel )

17/01/2020 - Obligation échue

Prospectus brochure de l'obligation ING Bank XS0479696204 en EUR 4%, échue

50 000 EUR

1 250 000 000 EUR

ING est une banque internationale offrant une large gamme de services financiers, notamment des services de banque de détail, de banque privée et de gestion d'actifs, opérant dans plusieurs pays à travers le monde.

L'Obligation émise par ING Groep ( Pays-Bas ) , en EUR, avec le code ISIN XS0479696204, paye un coupon de 4% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 17/01/2020

FINAL TERMS SERIES 37
EXECUTION COPY

FINAL TERMS FOR COVERED BONDS

Final Terms originally dated 15 January 2010 and amended and restated on 15 September 2015
ING Bank N.V.
(incorporated with limited liability in The Netherlands with its statutory seat in Amsterdam)
Issue of EUR 1,250,000,000 4.000 per cent. Covered Bonds due 2020

Guaranteed as to payment of principal and interest by
ING Covered Bond Company B.V.
under the EUR 35,000,000,000 Hard and Soft Bullet Covered Bonds Programme

PART A -- CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the
Conditions set forth in the Base Prospectus dated 15 May 2009 as supplemented by a
first supplement dated 19 August 2009, a second supplement dated 10 September 2009, a
third supplement dated 29 October 2009, a fourth supplement dated 12 November 2009,
a fifth supplement dated 10 December 2009 and a sixth supplement dated 30 December
2009, which, together with the Registration Document of the Issuer dated 15 May 2009
as supplemented by a first supplement dated 19 August 2009, a second supplement dated
7 September 2009, a third supplement dated 28 October 2009, a fourth supplement dated
12 November 2009, a fifth supplement dated 10 December 2009 and a sixth supplement
dated 30 December 2009, constitutes a base prospectus for the purposes of the
Prospectus Directive (Directive 2003/71/EC) (the "Prospectus Directive"). This
document constitutes the Final Terms of the Covered Bonds described herein for the
purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with
such Base Prospectus as so supplemented and the Registration Document as so
supplemented. Full information on the Issuer, the CBC and the offer of the Covered
Bonds is only available on the basis of the combination of these Final Terms, the Base
Prospectus as so supplemented and the Registration Document as so supplemented. The
Base Prospectus as so supplemented and the Registration Document as so supplemented
are
available
for
viewing
at
http://www.ing.com/group/showdoc.jsp?docid=312190_EN&menopt=ivr%7Cfis
and
during normal business hours at ING Bank N.V., Amstelveenseweg 500, 1081 KL
Amsterdam, The Netherlands (Tel.: +31 (0)20 501 3209).
1.
(i)
Issuer:
ING Bank N.V.

(ii)
CBC:
ING Covered Bond Company B.V.

2.
(i)
Series Number:
37

(ii)
Tranche Number:
1

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3.
Specified Currency or
EUR

Currencies:
4.
Aggregate Nominal

Amount:

(i)
Series:
EUR 1,250,000,000

(ii)
Tranche:
EUR 1,250,000,000

5.
Issue Price:
99.418 per cent. of the Aggregate Nominal

Amount
6.
(i)
Specified Denominations:
EUR 50,000 and integral multiples of EUR

1,000 in excess thereof up to and including
EUR 99,000.

No Covered Bonds in definitive form will be

issued with a denomination above EUR
99,000.

(ii)
Calculation Amount:
EUR 1,000

7.
(i)
Issue Date:
18 January 2010

(ii)
Interest Commencement
Issue Date

Date:
8.
(i)
Final Maturity Date:
17 January 2020

(ii)
Bullet Maturity:
Soft

Extended Due for Payment Date:
Applicable. The Specified Interest Payment

Date falling on or nearest to 17 January 2021
9.
Interest Basis:
4.000 per cent. Fixed Rate, for the period

from,
and
including,
the
Interest
Commencement Date to, but excluding, the
Final Maturity Date (further particulars
specified in paragraph 16 below)

From, and including, the Extension Date in
respect of the Covered Bonds described
herein (if applicable) to, but excluding, the
Extended Due for Payment Date (unless the
Guaranteed Final Redemption Amount in
respect of the Covered Bonds described
herein is paid in full prior to such date), one
month EURIBOR plus the Margin (further
particulars specified in paragraph 17 below)

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10.
Redemption/Payment Basis:
Redemption at par

11.
Change of Interest Basis:
In accordance with paragraphs 16 and 17

below
12.
Change of Redemption/
Not Applicable

Payment Basis:
13.
Call Options:
Not Applicable

14.
(i)
Status of the Covered
Unsubordinated, unsecured, guaranteed

Bonds:

(ii)
Status of the Guarantee:
Unsubordinated, secured (indirectly, through

a parallel debt), unguaranteed
15.
Method of distribution:
Syndicated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

16.
Fixed Rate Covered Bond
Applicable

Provisions:

(i)
Rate of Interest:
4.000 per cent. per annum payable annually

in arrear on each Interest Payment Date set
out in paragraph 16(ii) below

(ii)
Interest Payment Date(s):
17 January in each year, commencing 17

January 2011, up to and including the Final
Maturity Date

(iii)
Fixed Coupon Amount(s):
The Fixed Coupon Amount(s) will be

calculated in accordance with the following
formula: the product of the Rate of Interest
multiplied by the Specified Denomination
multiplied by the Day Count Fraction

(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction:
Actual/Actual (ICMA), unadjusted

(vi)
Determination Date(s):
17 January in each year

(vii)
Other terms relating to the
Not Applicable

method of calculating
interest for Fixed Rate
Covered Bonds:
17.
Floating Rate Covered Bond
Applicable
Provisions

(i)
Interest Period(s):
The period from, and including, a Specified
Interest Payment Date (or the Extension Date in
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respect of the Covered Bonds described herein
(if applicable)) to, but excluding, the next
Specified Interest Payment Date (or the First
Interest Payment Date set out in paragraph 17
(iii) below)

(ii) Specified Interest Payment Dates:
The 17th of each month, from, and including,
the First Interest Payment Date specified below
up to, and including, the earlier of: (i) the
Extended Due for Payment Date and (ii) the
date on which the Guaranteed Final
Redemption Amount in respect of the Covered
Bonds described herein is paid in full, subject
to adjustment in accordance with the Business
Day Convention set out in paragraph 17 (iv)
below

(iii) First Interest Payment Date:
17 February 2020, provided that the Extension
Date occurs in respect of the Covered Bonds
described herein

(iv) Business Day Convention:
Following Business Day Convention

(v)
Additional Business Centre(s):
No Additional Business Centre(s)

(vi) Manner in which the Rate(s) of Screen Rate Determination
Interest and Interest Amount(s)
is/are to be determined:

(vii) Party responsible for calculating Not Applicable
the Rate(s) of Interest and/or
Interest Amount(s) (if not the
Principal Paying Agent):

(viii) Screen Rate Determination:
Yes

--
Reference Rate:
1 Month EURIBOR

--
Interest Determination Date(s):
The second day on which TARGET2 is open
prior to the start of each Interest Period

--
Relevant Screen Page:
Reuters EURIBOR01

(ix) ISDA Determination:
Not Applicable

(x)
Margin(s):
+ 0.60 per cent. per annum

(xi) Minimum Rate of Interest:
0 per cent. per annum
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(xii) Maximum Rate of Interest:
Not Applicable

(xiii) Day Count Fraction:
Actual/360

18.
Zero Coupon Covered
Not Applicable

Bond Provisions

19.
Index Linked Interest
Not Applicable

Covered Bond/ other
variable linked interest
Covered Bond Provisions
20.
Share Linked Interest
Not Applicable

Covered Bond Provisions
21.
Dual Currency Interest
Not Applicable

Covered Bond Provisions

PROVISIONS RELATING TO REDEMPTION

22.
Issuer Call
Not Applicable

23.
Final Redemption Amount
EUR 1,000 per Calculation Amount

of each Covered Bond
24.
Early Redemption
As set out in Condition 6(d)

Amount of each Covered
Bond

Early Redemption
As set out in Condition 6(d)

Amount(s) per Calculation
Amount payable on
redemption for taxation
reasons, or on acceleration
following an Issuer Event of
Default as against the Issuer
or a CBC Event of Default
or other early redemption
and/or the method of
calculating the same (if
required or if different from
that set out in the
Conditions:
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS

25.
Form of Covered Bonds:
Bearer form

Temporary
Global
Covered
Bond

exchangeable for a Permanent Global
Covered Bond which is exchangeable for
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Bearer Definitive Covered Bonds only upon
an Exchange Event
26.
New Global Note
Yes

27.
Exclusion of set-off
Not Applicable

28.
Additional Financial
Not Applicable

Centre(s) or other special
provisions relating to
Payment Dates:
29.
Talons for future Coupons
No

or Receipts to be attached to
Bearer Definitive Covered
Bonds (and dates on which
such Talons mature):
30.
Details relating to Partly
Not Applicable

Paid Covered Bonds:
amount of each payment
comprising the Issue Price
and date on which each
payment is to be made and
consequences (if any) of
failure to pay, including any
right of the Issuer to forfeit
the Covered Bonds and
interest due on late
payment:
31.
Consolidation provisions:
Not Applicable

32.
Other final terms:
Not Applicable

DISTRIBUTION

33.
(i)
If syndicated, names of
BNP
Paribas,
Commerzbank

Managers:
Aktiengesellschaft, ING Bank N.V., UBS
Limited
Banca IMI S.p.A., Banco Santander, S.A.,
Danske Bank A/S, DZ BANK AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt am
Main, Landesbank Baden-Württemberg,
SEB AG, UniCredit Bank AG
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(ii)
Stabilising Manager(s) (if
Not Applicable

any):
34.
If non-syndicated, name of
Not Applicable

relevant Dealer(s):
35.
TEFRA:
TEFRA D; Regulation S Category 2

36.
Applicable Netherlands /
Not Applicable

Global selling restriction:
37.
Additional selling
Applicable. Until the expiry of the period of

restrictions:
40 days after 15 September 2015, sales of
the Covered Bonds described herein may not
be made in the United States or to U.S.
persons (as defined in Regulation S under
the United States Securities Act of 1933, as
amended (the "Securities Act")) unless
made outside the United States pursuant to
Rule 903 and 904 of Regulation S (as
defined in the Securities Act).
PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required for the issue and admission to trading on

Euronext Amsterdam by NYSE Euronext of Covered Bonds described herein pursuant to the
EUR 35,000,000,000 Hard and Soft Bullet Covered Bonds Programme of ING Bank N.V.
RESPONSIBILITY

The Issuer and the CBC accept responsibility for the information contained in these Final

Terms.
Signed on behalf of the Issuer:
Signed on behalf of the CBC:

By: ......................................................

By: ......................................................

............................................................
Duly authorised
Duly authorised

By: ......................................................

By: ......................................................

............................................................
Duly authorised
Duly authorised

PART B -- OTHER INFORMATION
1.
LISTING

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(i)
Listing
Euronext Amsterdam by NYSE

Euronext

(ii)
Admission to trading:
Application has been made by the

Issuer (or on its behalf) for the
Covered Bonds to be admitted to
trading on Euronext Amsterdam by
NYSE Euronext with effect from 18
January 2010

(ii)
Estimate of total
EUR 4,500

expenses related to
admission to trading:
2.
RATINGS

Ratings:
The Covered Bonds to be issued have

been rated:

Moody's:
Aaa

Standard & Poor's:
AAA

Fitch:
AAA

3.
INTERESTS OF NATURAL AND LEGAL PERSONS

INVOLVED IN THE ISSUE

Save as discussed in "Subscription and Sale", so far as the Issuer is

aware, no person involved in the issue of the Covered Bonds has an
interest material to the offer.
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS

AND TOTAL EXPENSES

(i)
Reasons for the offer:
The net proceeds of the issue will be

applied by the Issuer for its general
corporate purposes.

(ii)
Estimated net
EUR 1,238,975,000

proceeds:

(iii)
Estimated total
EUR 4,500

expenses:
5.
YIELD (Fixed Rate Covered Bonds only)

Indication of yield:
4.072

The yield is calculated at the Issue

Date on the basis of the Issue Price
and assuming redemption on the Final
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Maturity Date. It is not an indication
of future yield.
If the floating rate provisions set out
in paragraph 17 above apply: details
of historic EURIBOR rates can be
obtained from Reuters.
6.
OPERATIONAL INFORMATION

(i)
ISIN Code:
XS0479696204

(ii)
Common Code:
047969620

(iii)
WKN:
A1ASDQ

(iv)
New Global Note
Yes

intended to be held in
Note that the designation "Yes"
a manner which would
simply means that the Covered Bonds
allow Eurosystem
are intended upon issue to be
eligibility:
deposited
with
Euroclear
or
Clearstream, Luxembourg as common
safe-keeper and does not necessarily
mean that the Covered Bonds will be
recognised as eligible collateral for
Eurosystem monetary policy and
intra-day credit operations by the
Eurosystem either upon issue or at
any or all times during their life. Such
recognition
will
depend
upon
satisfaction
of
the
Eurosystem
eligibility criteria.

(v)
Any clearing
Not Applicable

system(s) other than
Euroclear Bank
S.A./N.V. and
Clearstream Banking,
société anonyme and
the relevant
identification
number(s):

(vi)
Delivery:
Delivery against payment

(vii)
Names and addresses
The Bank of New York Mellon, in

of initial Paying
alliance with ING Bank N.V. acting
Agent(s):
through its subdivision ING
Wholesale Banking Securities
Services (previously named The Bank
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of New York Mellon, in alliance with
International Securities Services
Netherlands)
One Canada Square
Canary Wharf
London E14 5AL
United Kingdom

(viii) Names and addresses
Not Applicable

of additional Paying
Agent(s) (if any):

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