ING Group will issue USD 2.25 billion Additional Tier 1 securities

ING Group will issue USD 2.25 billion securities that qualify as Additional Tier 1 capital under CRD IV / CRR. This successful issuance will further strengthen ING's capital base.

Following significant demand from investors in Asia, Europe and the U.S, ING will issue USD 2.25 billion of USD denominated Perpetual Additional Tier 1 Contingent Convertible Capital Securities. This comprises two separate tranches: a USD 1.0 billion Perpetual Non-Callable 5 Year with coupon 6.00%; and a USD 1.25 billion Perpetual Non-Callable 10 Year with coupon 6.50%.

The securities will be subject to full conversion into ordinary shares of ING Group in the event ING Group's phased-in CET 1 ratio would fall below 7.0%.

The settlement of the securities is expected to occur on 16 April 2015 which will complete the issuance.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The registration statement relating to the offering may be obtained by visiting the SEC website at www.sec.gov.

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