Format: Senior Unsecured, Unsubordinated, Reg S Bearer, New Global Note (NGN) Bearer Form, Category 2
Use of Proceeds: General Corporate Purposes
Settlement Date: 9-Nov-26 (T+4)
Tranche: 7NC6 FXD-to-FRN
Maturity Date: 9-Nov-33
Call Date: 9-Nov-32
Benchmark Security: UKT 4 ¼ 07-Jun-32
Size: £ Benchmark
ISIN: XS3563641714
Coupon: From (and including) the Issue Date up to (but excluding) the Optional Redemption Date, [•]% per annum payable semi-annually in arrear on 9 May and 9 November in each year commencing on 9-May-27 and ending on the Optional Redemption Date; Actual/Actual (ICMA), unadjusted; Following Business Day Convention. From (and including) the Optional Redemption Date to (but excluding) the Maturity Date, SONIA Index Average + [•]bps, payable quarterly in arrear; Actual/365 (Sterling), Adjusted; Modified Following Business Day Convention
Waiver of Set-Off: Applicable: Holders of Senior Notes cannot exercise or claim any right of set-off, netting or counterclaim in respect of amounts owed by the Issuer in respect of the Senior Notes
Optional Redemption: The Issuer may elect to redeem the Notes at 100% of their nominal amount on the Optional Redemption Date, subject to prior permission by the resolution authority
Early Redemption: Loss Absorption Disqualification Event, subject to prior permission by the competent authority and/or resolution authority, at par plus accrued interest
Clean-Up Call: Applicable, the Issuer may at any time, on giving not less than 15 nor more than 30 days notice, redeem all but not some of the Notes for the time being outstanding at an amount per Note equal to 100% of the Specified Denomination, together with interest (if any) accrued to (but excluding) the date of redemption, if, prior to the date of such notice, 75 per cent. or more in nominal amount of the Notes hitherto issued have been redeemed or purchased and cancelled
Tax Call: Applicable, upon withholding, or a change in applicable tax treatment as specified in Condition 6(b) of the terms and conditions of the DIP the Issuer may, but shall not be obliged to, on giving not less than 15 nor more than 30 days notice, redeem all but not some of the Notes for the time being outstanding at an amount per Note equal to 100% of the Specified Denomination, together with interest (if any) accrued to (but excluding) the date of redemption
Substitution and Variation: Applicable
Denomination: £100,000 + £100,000
Listing / Docs: Euronext Amsterdam, Regulated Market / Issued off the EUR 70bn Debt Issuance Programme of ING Groep N.V. and ING Bank N.V. dated 11-Mar-26, as supplemented from time to time
Target Market: MiFID II / UK MiFIR professionals / ECPs-only - Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) or UK disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as not available to retail in the EEA or in the UK
Fees: The banks will be paid a fee by the Issuer in connection to the transaction