ING to redeem Perpetual Capital Securities

ING Group announced it will redeem US$ 1,000 million of 6.875% Perpetual Additional Tier 1 Contingent Convertible Capital Securities on the call date being 16 April 2022, in line with ING’s goal to continuously optimize its capital structure.

The securities (ISIN XS1497755360) will be redeemed in full in accordance with their terms, with payment to be made on 18 April 2022, which is the first business day after the call date. The redemption price will be the principal amount together with any outstanding payments. The paying agent for the securities is The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom.

Any future decisions by ING as to whether it will exercise (or cause to be exercised) calls in respect of debt securities will be made on an economic basis, taking into account the interests of all stakeholders. Other factors that ING will consider include prevailing market conditions, regulatory approval, and capital requirements.

Source: ING Group