Obligation ING Groep N.V. 4.399% ( XS1433124457 ) en EUR

ING Groep N.V.

100 % ▼

Pays-bas

XS1433124457 ( en EUR )

4.399% par an ( paiement annuel )

16/09/2024 - Obligation échue

Prospectus brochure de l'obligation ING Bank N.V XS1433124457 en EUR 4.399%, échue

100 000 EUR

1 500 000 000 EUR

ING Bank N.V. est une banque multinationale néerlandaise offrant une large gamme de services financiers, notamment la banque de détail, la banque d'investissement et la gestion d'actifs, à travers le monde.

L'Obligation émise par ING Groep N.V. ( Pays-bas ) , en EUR, avec le code ISIN XS1433124457, paye un coupon de 4.399% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 16/09/2024

15 June 2016
ING Bank N.V.
(incorporated with limited liability under the laws of The Netherlands with its corporate seat in
Amsterdam and registered with the Dutch Chamber of Commerce under number 33031431)
Issue of EUR 1,500,000,000 Floating Rate Soft Bullet Covered Bonds due September 2024
Guaranteed as to payment of principal and interest by
ING SB Covered Bond Company B.V.
(incorporated with limited liability under the laws of The Netherlands with its corporate seat in
Amsterdam and registered with the Dutch Chamber of Commerce under number 61113956)
under the EUR 10,000,000,000 Soft Bullet Covered Bond Programme
The Base Prospectus referred to below (as completed by these Final Terms) has been prepared on the
basis that any offer of Covered Bonds in any Member State of the European Economic Area which has
implemented 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 Covered Bonds. Accordingly any person making or
intending to make an offer in that Relevant Member State of the Covered Bonds 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 Covered Bonds in any other circumstances.
The expression "Prospectus Directive" means Directive 2003/71/EC (as amended, including by
Directive 2010/73/EU and Directive 2010/78/EU) and includes any relevant implementing measures in
the Relevant Member State.
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 6 June 2016, which together with the Registration Document of the Issuer
dated 17 May 2016 constitute a base prospectus (the "Base Prospectus") for the purposes of 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 (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 Base Prospectus. Full information on the Issuer, the SB CBC and the offer of the
Covered Bonds is only available on the basis of the combination of these Final Terms, the Base
Prospectus. The Base Prospectus 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 Bank N.V.,
Foppingadreef 7, 1102 BD Amsterdam, The Netherlands (Tel.: +31 (0) 20 563 8007).
Prospective investors should carefully consider the section "Risk Factors" in the Base Prospectus.
General description of the Covered Bonds
1.

(i)
Issuer:
ING Bank N.V.

(ii)
Guarantor:
ING SB Covered Bond Company B.V.
2.

(i)
Series Number:
6

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds

become fungible:
Not Applicable
3.

Specified Currency or Currencies:
EUR

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4.

Aggregate Nominal Amount:

(i)
Series:
EUR 1,500,000,000

(ii)
Tranche:
EUR 1,500,000,000
5.

Issue Price:
103.117 per cent. of the Aggregate Nominal
Amount
6.

(i)
Specified Denominations:
EUR 100,000

(ii)
Calculation Amount:
Specified Denomination
7.

(i)
Issue Date:
15 June 2016

(ii)
Interest Commencement Date:
Issue Date
8.

(i)
Final Maturity Date:
Interest Payment Date falling in or nearest to
September 2024

(ii)
Extended Due for Payment Date:
Interest Payment Date falling in or nearest to
September 2025
9.
I
nterest Basis:
(i) 3 Month EURIBOR + 0.40 per cent. Floating
Rate for the period from, and including, the
Interest Commencement Date to, but excluding,
the first Specified Interest Payment Date (further
particulars specified in paragraph 15 below);
(ii) 6 Month EURIBOR + 0.40 per cent. Floating
Rate for the period from, and including, the first
Specified Interest Payment Date to, but excluding,
the Final Maturity Date (further particulars
specified in paragraph 15 below); and
(iii) 1 Month EURIBOR + 0.03 per cent. Floating
Rate, 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) (further particulars specified in
paragraph 15 below)
10.

Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption and subject to Condition 3 (The
Guarantee), the Covered Bonds will be redeemed
on the Maturity Date at 100 per cent. of their
nominal amount
11.
C hange of Interest Basis:
In accordance with paragraph 15 below.
12.

Call Option:
Not Applicable
13.

(i)
Status of the Covered Bonds:
Unsubordinated, unsecured, guaranteed

(ii)
Status of the Guarantee:
Unsubordinated, secured (indirectly, through a
parallel debt), unguaranteed
Provisions Relating to Interest (if any) Payable
14.

Fixed Rate Covered Bond Provisions:
Not Applicable

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15.

Floating Rate Covered Bond Provisions
Applicable

(i)
Interest Period(s):
The period from, and including, the Specified
Interest Payment Date ( or (a) the Interest
Commencement Date; or (b) the Extension Date
in respect of the Covered Bonds described herein
(if applicable)) to, but excluding, the following
Specified Interest Payment Date (or the first
Interest Payment Date).

(ii)
Specified Interest Payment Dates:
(i) 15 September and 15 March of each year in the
period from, and including, 15 September 2016
up to, and including, the 15 September 2024
(subject to adjustment in accordance with the
Business Day Convention set out in paragraph
(iv) below). The first Coupon will be a short
Coupon; and
(ii) the 15th calendar day of each month in the
period 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
(iv) below).

(iii)
First Interest Payment Date:
15 October 2024, provided that the Extension
Date occurs in respect of the Covered Bonds
described herein.

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

(v)
Interest Amount Adjustment:
Applicable

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

(vii)
Manner in which the Rate(s) of

Interest and Interest Amount(s) is/are

to be determined:
Screen Rate Determination

(viii)
Party responsible for calculating the

Rate(s) of Interest and/or Interest

Amount(s) (if not the Principal

Paying Agent):
Not Applicable

(ix)
Screen Rate Determination:
Applicable

Reference Rate:
(i) For the period from, and including, the Interest
Commencement Date to, but excluding, the first
Specified Interest Payment Date: 3 Month
EURIBOR; and
(ii) For the period from, and including, the first
Specified Interest Payment Date to, but excluding,
the Final Maturity Date: 6 Month EURIBOR; and

(iii) For the period from, and including, the

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Extension Date in respect of the Covered Bonds
described herein (if applicable) to, but excluding,
the Extended Due for Payment Date: 1 Month
EURIBOR.

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

Relevant Screen Page:
Reuters Page EURIBOR01

(x)
ISDA Determination:
Not Applicable

(xi)
Margin(s):
(i) For the period from, and including, the Interest
Commencement Date to, but excluding, the Final
Maturity Date: + 0.40 per cent. per annum
(ii) For the period 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: + 0.03 per
cent. per annum.

(xii)
Minimum Rate of Interest:
0.00 per cent. per annum

(xiii)
Maximum Rate of Interest:
Not Applicable

(xiv)
Day Count Fraction:
Actual/360
16.

Zero Coupon Covered Bond Provisions
Not Applicable
Provisions Relating to Redemption
17.

Issuer Call
Not Applicable
18.

Final Redemption Amount of each Covered
Bond
EUR 100,000 per Calculation Amount
19.

Early Redemption Amount of each Covered
Bond

Early Redemption 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 SB

CBC Event of Default or other early

redemption:
As specified in Condition 6(d)(i)
General Provisions Applicable to the Covered Bonds
20.

Form of Covered Bonds:
Bearer form
Temporary Global Covered Bond exchangeable
for a Permanent Global Covered Bond which is
exchangeable for Definitive Covered Bonds only
upon an Exchange Event, subject to mandatory
provisions of applicable laws and regulations.
21.

New Global Note
Yes
22.
E xclusion of set-off
Not applicable
23.

For the purposes of Condition 13, under (iii),
notices to be published in a leading English
language daily newspaper of general

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circulation in London:
Yes, in the Financial Times
24.

Additional Financial Centre(s):
Not Applicable
25.

Talons for future Coupons to be attached to
Bearer Definitive Covered Bonds (and dates
on which such Talons mature):
No
26.

Consolidation provisions:
The provisions of Conditions 16 apply.

Responsibility
The Issuer and the SB CBC (as far as it concerns the SB CBC) accept responsibility for the information
contained in these Final Terms.

Signed on behalf of the Issuer:
Signed on behalf of the SB CBC:

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

Duly authorised

Duly authorised

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

Duly authorised

Duly authorised

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PART B -- OTHER INFORMATION
1.
L ISTING AND ADMISSION TO TRADING

(i)
Listing
Luxembourg Stock Exchange

(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 the Luxembourg Stock Exchange with
effect from the Issue Date

(iii)
Estimate of total expenses related to
EUR 5,000
admission to trading:
2.

RATINGS

Ratings:
The following ratings reflect ratings assigned to
the Covered Bonds of this type under the
Programme generally:

Standard & Poor's:
AAA

Fitch:
AAA

Each of Standard & Poor's Credit Market
Services Europe Limited and Fitch Ratings
Limited are established in the European Union
and registered under Regulation (EC) No
1060/2009, as amended.
3.
I
NTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in Section 1.5 (Subscription and Sale) of the Base Prospectus, 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.
O PERATIONAL INFORMATION

(i)
ISIN Code:
XS1433124457

(ii)
Common Code:
143312445

(iii)
Other relevant code:
WKN A1821J

(iv)
New Global Note intended to be held

in a manner which would allow

Eurosystem eligibility:
Yes

Note that the designation "Yes" simply means
that the Covered Bonds 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 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 the ECB being
satisfied that Eurosystem eligibility criteria have
been met.

(v)
Any clearing system(s) other than

Euroclear Bank S.A./N.V. and

Clearstream Banking, société

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anonyme and the relevant

identification number(s):
Not Applicable

(vii)
Delivery:
Delivery free of payment

(viii)
Names and addresses of additional Not Applicable
Paying Agent(s) (if any):

(ix)
Name and address of Calculation Not Applicable
Agent (if other than Principal Paying
Agent):
5.

DISTRIBUTION

(i)
Method of distribution:
Non-syndicated

(ii)
If syndicated:

(A)
Names of Managers:
Not Applicable

(B)
Stabilising Manager(s) (if
Not Applicable
any)

(iii)
If non-syndicated, name of Dealer
ING Bank N.V.

(iv)
Total commission and concession:
Not Applicable

(v)
U.S. Selling Restrictions:
Reg S Compliance Category 2; TEFRA D

(vi)
ERISA
No

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