Obligation ING Groep 0% ( XS1169194278 ) en EUR

Société émettrice ING Groep
Prix sur le marché 100 %  ⇌ 
Pays  Pays-Bas
Code ISIN  XS1169194278 ( en EUR )
Coupon 0%
Echéance 16/01/2017 - Obligation échue



Prospectus brochure de l'obligation ING Bank XS1169194278 en EUR 0%, échue


Montant Minimal 100 000 EUR
Montant de l'émission 160 000 000 EUR
Description détaillée 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'objet de cette analyse détaillée est une obligation à code ISIN XS1169194278, émise par ING Bank, dont le cycle de vie financier est désormais achevé. L'émetteur de cette dette, ING Bank, est une institution financière néerlandaise de premier plan, filiale du groupe multinational ING Groep N.V., l'une des plus grandes banques mondiales. Opérant à l'échelle internationale, ING offre une gamme étendue de services bancaires aux particuliers, aux entreprises et aux institutions, y compris des activités de banque d'investissement et de gestion d'actifs, consolidant ainsi sa position comme acteur majeur du paysage financier mondial et un émetteur de dette régulier et reconnu sur les marchés. Cette obligation se distinguait par un taux d'intérêt de 0%, la classant ainsi parmi les obligations dites 'zéro-coupon'; pour les investisseurs, cela signifie que la rémunération n'était pas versée sous forme de coupons périodiques, mais proviendrait de la différence entre le prix d'achat initial (vraisemblablement à un escompte par rapport au pair) et son prix de remboursement à maturité. Émise aux Pays-Bas, sa devise de libellé était l'euro (EUR), et la taille totale de l'émission s'élevait à 160 millions d'euros, avec une taille minimale d'achat de 100 000 euros par lot, indiquant une vocation pour des investisseurs institutionnels ou sophistiqués plutôt que pour le grand public. La date de maturité de cette obligation était fixée au 16 janvier 2017 et, tel que confirmé par l'émetteur et le marché, elle est arrivée à son terme et a été remboursée intégralement à 100% de sa valeur nominale, ce qui était son prix actuel sur le marché au moment de son échéance. Le fait qu'elle ait été remboursée à parité indique une exécution normale de l'engagement de l'émetteur envers ses créanciers obligataires. Bien que la fréquence de paiement des coupons soit indiquée comme étant de 1, cette information était de facto non pertinente pour une obligation zéro-coupon, où aucun intérêt n'était versé avant la date d'échéance. La réussite de son remboursement confirme la gestion efficace de ses passifs par ING Bank et la clôture de cet instrument financier pour les portefeuilles qui le détenaient.








Final Terms dated 10 July 2015
ING Bank N.V.
(the "Issuer")
Issue of 50,000,000 2 Year Floating Rate Notes due January 2017 (the "Notes")
(to be consolidated and form a single Series with the 110,000,000 2 Year Floating Rate Notes due
January 2017 issued on 16 January 2015, the "Existing Notes")
under the 55,000,000,000 Debt Issuance Programme
(Series 136 2nd Tranche)

The Base Prospectus referred to below (as completed by these Final Terms) has been prepared on the basis
that any offer of Notes in any Member State of the European Economic Area which has implemented
Directive 2003/71/EC, as amended from time to time (the "Prospectus Directive"), (each, a "Relevant
Member State") will be made pursuant to an exemption under the Prospectus Directive, as implemented in
that Relevant Member State, from the requirement to publish a prospectus for offers of the Notes.
Accordingly any person making or intending to make an offer in that Relevant Member State 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 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 the conditions set forth in the
Base Prospectus dated 9 May 2014. This document constitutes the Final Terms of the Notes described herein
for the purposes of Article 5.4 of Directive 2003/71/EC, as amended from time to time (the "Prospectus
Directive") (as implemented by the Dutch Financial Supervision Act and its implementing regulations) and
must be read in conjunction with the Base Prospectus dated 12 May 2015 as supplemented from time to time,
which constitutes a base prospectus for the purposes of the Prospectus Directive, save in respect of the
Conditions which are extracted from the Base Prospectus dated 9 May 2014 and are incorporated by reference
in the Base Prospectus dated 12 May 2015. 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 Base Prospectuses dated 9 May 2014
(with respect to the Conditions set forth therein) and 12 May 2015 (other than with respect to the Conditions
set forth therein) as supplemented from time to time. The Base Prospectus as supplemented from time to time,
is available for viewing at the Issuer's website (www.ing.com/Investor-relations/Fixed-income-
information.htm) and copies may be obtained from ING Groep N.V., c/o ING Bank N.V. at Foppingadreef 7,
1102 BD Amsterdam, The Netherlands.
Prospective investors should carefully consider the section "Risk Factors" in the Base Prospectus.
General Description of the Notes
1
Issuer:
ING Bank N.V.
2
(i) Series Number:
136
(ii) Tranche Number:
2
(iii) Date on which the Notes will be

consolidated and form a single series:
The Notes will be consolidated and form a single
Series with the Existing Notes, issued on 16 January

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2015 on the exchange of the Temporary Global Note
for interests in the Permanent Global Note, as
referred to in paragraph 21 below, which is expected
to occur on or about 19 August 2015.
3
Specified Currency or Currencies:
EUR ()
4
Aggregate Nominal Amount:



(i) Tranche:
50,000,000

(ii) Series:
160,000,000
5
Issue Price:
100.080% of the Aggregate Nominal Amount (plus
85 calendar days accrued interest from (and
including) 16 April 2015 to (but excluding) the Issue
Date in the amount of 23,375.00).
6
(i) Specified Denominations:
100,000

(ii) Calculation Amount:
Not Applicable
7
(i) Issue Date:
10 July 2015

(ii) Interest Commencement Date:
16 April 2015
8
Maturity Date:
Interest Payment Date falling in or nearest to Janaury
2017
9
Interest Basis:
Floating Rate ­ 3 Month EURIBOR + 0.19 % per
annum (further particulars specified in paragraph 15
below).
10 Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the
Maturity Date at 100% of their Aggregate Nominal
Amount.
11 Change of Interest Basis :
Not Applicable
12 Put/Call Options:
Not Applicable

13 Status of the Notes:
Senior
Provisions relating to Interest (if any) payable
14 Fixed Rate Note Provisions:
Not Applicable
15 Floating Rate Note Provisions:
Applicable


(i) Specified Period(s)/Specified Interest 16 July, 16 October, 16 January and 16 April, in each
Payment Dates:
year from (and including) 16 July 2015 up to (and
including) 16 January 2017, adjusted in accordance
with the Business Day Convention specified in sub-
paragraph 15(ii).

(ii) Business Day Convention:
Modified Following Business Day Convention
(Adjusted)

(iii) Additional Business Centre(s):
Not Applicable

(iv) Manner in which the Rate of Interest and

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Interest Amount(s) is/are to be
determined:
Screen Rate Determination

(v) Party responsible for calculating the
Rate of Interest and Interest Amount(s):

Calculation Agent

(vi) Screen Rate Determination:
Applicable

- Reference Rate:
3 Month EURIBOR

- Interest Determination Date(s):
The second Business Day prior to the start of each
Interest Period.

- Relevant Screen Page:
Reuters Screen EURIBOR01 Page

(vii) ISDA Determination:
Not Applicable

(viii) Margin(s):
+ 0.19 % per annum.

(ix) Minimum Rate of Interest:
Not Applicable

(x) Maximum Rate of Interest:
Not Applicable

(xi) Day Count Fraction:
Actual/360
16 Zero Coupon Note Provisions
Not Applicable

Provisions relating to Redemption
17 Issuer Call
Not Applicable
18 Investor Put
Not Applicable
19 Regulatory Call
Not Applicable
20 Final Redemption Amount of each Note:
100,000 per Specified Denomination.
21 Early Redemption Amount


(i) Early Redemption Amount of each Note

payable on redemption for taxation reasons or

on event of default:
Condition 6(f) applies.

(ii) Notice period:
As set out in the Conditions.
General Provisions Applicable to the Notes

22 Form of Notes


(i) Form:
Bearer Notes


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:
Yes
23 Additional Financial Centre(s) or other special
provisions relating to Payment Dates:
Not Applicable
24 Talons for future Coupons to be attached to

Definitive Notes (and dates on which such


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Talons mature):
No
25 Other final terms relating to SIS Notes:
Not Applicable

Responsibility
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the
knowledge and belief of the Issuer (having taken all reasonable care to ensure that such is the case) the
information contained in these Final Terms is in accordance with the facts and does not omit anything likely
to affect the import of such information.
Signed on behalf of the Issuer:


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

Duly authorised

Duly authorised

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Part B -- Other Information
1.
Listing and Trading
(i) Listing and admission to trading
The Existing Notes are already admitted to trading
on the Luxembourg Stock Exchange. Application is
expected to be made by the Issuer 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.
(ii) Estimate of total expenses related to


admission to trading:
1,240

2.
Ratings

Ratings:
The Notes to be issued 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.
Operational Information
(i) Temporary ISIN:
XS1258875118 (until consolidation after 40 days)
(ii) ISIN:
XS1169194278

(iii) Temporary Common Code:
125887511
(iv) Common Code:
116919427
(v) Other relevant code:
Not Applicable
(vi) 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
(vii) Swiss Securities Number:
Not Applicable
(viii) Delivery:
The delivery of Notes shall be made free of payment

to the Issuer's account number 22529 with Euroclear.
Any subsequent delivery of Notes from the Issuer's
account number 22529 with Euroclear to the relevant
Dealer(s) shall be made against payment.
(ix) Name and address of Swiss Paying
Agent:
Not Applicable

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(x) Names and addresses of additional

Paying Agent(s) (if any):
Not Applicable
(xi) Name and address of Calculation Agent:
Not Applicable

(xii) Intended to be held in a manner which Yes
would allow Eurosystem eligibility:
Note that the designation "Yes" simply means that
the Notes are intended upon issue to be deposited
with one of the International Central Securities
Depositories as Common Safekeeper and does not
necessarily mean that the Notes 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 the ECB
being satisfied that Eurosystem eligibility criteria
have been met.
5.
Distribution
(i) Method of distribution:
Non-syndicated
(ii) If syndicated, names of Managers:
Not Applicable
(iii) Stabilising Manager(s) (if any):
Not Applicable
(iv) If non-syndicated, name of Dealer:
UniCredit Bank AG
(v) Total commission and concession:
Not Applicable
(vi) U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA D
(vii) ERISA:
Not Applicable


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