Promotional Document ING Belgium International Finance (Luxembourg) 6Y EUR Strategy Notes 02/19 The ING Belgium International Finance (Luxembourg) 6Y EUR Strategy Notes 02/19 (in short ING 6Y EUR Strategy Notes 02/19) are for investors looking for an investment:  in the long term (6 years)  which gives right to a 100% redemption (excluding costs) of the invested capital by the Issuer at Maturity, except in the event of bankruptcy or default by the Issuer and/or the Guarantor  which offers the possibility of benefiting from a gross annual coupon of at most 6.25% 1 (or a gross actuarial return of 5.82%) which will depend on the average performance of a basket of 20 equi-weighted shares, from varied sectors and internationally diversified (mainly in North America and Europe). Description of the coupon fixing mechanism Each year a gross coupon will be paid according to the performance (in percentage) of a basket of shares, with a maximum of 6.25% 1. The performance of will equal the arithmetical mean of the trend of its component shares. The performance of determines the rate of the gross coupon paid out. The trend of each share is calculated by comparing its closing price three business days before the relevant Coupon Payment Date 2 (i.e. the Observation Date 3 ) with its starting level. For each share, the starting price retained will correspond to its closing price on the Payment Date. To calculate the performance of, the positive trend of each share will be limited to 6.25% whereas the negative performance of each share will be limited to - 20%. If the performance of is higher than 0%, a coupon corresponding to the actual average performance of will be paid out with a maximum of 6.25% 1. If, conversely, the performance of is negative, no coupon will be paid out for the year. The gross actuarial return (before taxes and duties) is at least -0.33 % 1 and at most 5.82% 1 in the scenario where the investor holds on to the Note until Maturity. Such return takes into account the issue price of 102% (including a placement fee of 2% and a fee for structuring and distributing the Notes of a maximum of 1% on an annual basis), any coupons possibly paid out and a redemption price at Maturity of 100%. 1 The coupon amounts shown in this document are gross amounts before the deduction of any taxes and duties (see "Taxation" below). 2 For the Coupon Payment Dates see the Technical Data on the last page. 3 For the Observation Dates see the Technical Data on the last page. Shares which make up over one year 1 6.52% 6.25% 2 3.78% 3.78% 3 10.03% 6.25% 4 4.57% 4.57% 5 4.02% 4.02% 6 7.56% 6.25% 7 11.23% 6.25% 8-28.00% -20.00% 9 7.03% 6.25% 10 5.92% 5.92% 11-3.50% -3.50% 12 7.11% 6.25% 13 5.75% 5.75% 14 8.02% 6.25% 15-22.00% -20.00% 16 7.06% 6.25% 17 0.60% 0.60% 18 16.17% 6.25% 19-2.68% -2.68% 20 19.85% 6.25% of Gross coupon paid out 2.05% 2.05% The product offered is a debt instrument issued by ING Belgium International Finance and guaranteed by ING Belgium. When subscribing to this product you are lending to the Issuer who undertakes to pay coupons on the Coupon Payment Dates. At the Maturity of the Notes the Issuer also undertakes to repay 100% of the capital invested excluding costs (i.e. EUR 100 per Denomination). In the event of bankruptcy or default by the Issuer and/or the Guarantor, you might not receive the amounts to which you would have been entitled and could lose the capital invested. This instrument is for investors with sufficient experience to understand the product parameters and with sufficient knowledge to assess, based on their their financial situation, the advantages and risks inherent in an investment in this complex instrument, in particular knowledge of the underlying and interest rates.
ING 6Y EUR Strategy Notes 02/19 The basket of shares is made up as follows: Name Stock market BAYERISCHE MOTOREN WERKE AG Frankfurt BRISTOL-MYERS SQUIBB CO CIA VALE DO RIO DOCE-ADR DAIMLERCHRYSLER AG Frankfort DEUTSCHE POST AG-REG Frankfort DOW CHEMICAL DU PONT DE NEMOURS (ASAS) GENERAL ELECTRIC GLAXOSMITHKLINE PLC London Sector ISIN code DE0005190003 US1101221083 US91912E1055 DE0007100000 DE0005552004 US2605431038 US2635341090 US3696041033 GB0009252882 In line with ING Belgium's investment strategy, the basket is made up of shares from the Health, 4, and sectors. The shares in were selected mainly on the basis of the following criteria: Â which make up national benchmark indices (in the case of this basket: CAC40, DAX30, FTSE 100, Swiss Market 20, S&P 500, OMX Stockholm 30, Bovespa and Nikkei 225) Â anticipation of high dividends (investors do not benefit from the distribution of these dividends) Â at the time of selection, at least two thirds of the stock analysts who monitor such shares at the various financial institutions have given a positive or neutral opinion about such shares. Other parameters - such as correlation - which influence the selection of the shares of can restrict the potential return of the investment. Investors can enquire at any branch of ING in Belgium for further information about the choice of the sector, the shares in and the investment strategy. HENNES & MAURITZ AB-B SHS Stockholm McDonalds Corp NEWMONT MINING CORP NOVARTIS AG-REG SHS Zurich RENAULT SA Paris ROCHE HOLDING AG- GENUSSCHEIN Zurich SANOFI Paris SIEMENS AG Frankfurt TAKEDA PHARMACEUTICAL CO LTD Tokyo UNITED PARCEL SERVICES INC SE0000106270 US5801351017 US6516391066 CH0012005267 FR0000131906 CH0012032048 FR0000120578 DE0007236101 JP3463000004 US9113121068 UNITED TECHNOLOGIES CORP US9130171096 4 " " include media, clothing, durable consumer goods, retail, automobile, luxury, hotel and leisure companies. 2
ING 6Y EUR Strategy Notes 02/19 Examples showing how the coupon is calculated The figures below are purely hypothetical and serve only to inform investors about the calculation method of the gross annual coupons on the basis of different scenarios. The actual realisation of any of these scenarios in the future cannot be guaranteed. BEST-CASE SCENARIO Baseline scenario Worst-case scenario of of of Year 1 5.50% 5.50% Year 2 6.25% 6.25% Year 3 5.90% 5.90% Year 4 4.00% 4.00% Year 5 4.40% 4.40% Year 6 5.70% 5.70% simulation: 4.90% Year 1-0.80% 0.00% Year 2 1.27% 1.27% Year 3 5.51% 5.51% Year 4 4.99% 4.99% Year 5 4.42% 4.42% Year 6 3.75% 3.75% simulation: 2.88% Year 1-2.05% 0.00% Year 2-3.56% 0.00% Year 3-8.99% 0.00% Year 4-11.06% 0.00% Year 5-19.50% 0.00% Year 6-20% 0.00% simulation: -0.33% The actuarial return of these scenarios is a gross return, before taxes and duties, which takes account of the issue price of 102%. Risk class specific to ING Belgium SA/nv The model ING Belgium SA/nv uses to determine the risk class of a Structured Note analyses the trend of its price in different market scenarios (best-case, baseline, worst-case). This analysis is based on the extreme levels of the underlying observed historically on the market. The greater the price volatility, the higher the risk category. We differentiate between a total of seven risk classes, ranging from 0 (lowest risk) to 6 (highest risk). This model does not take into account certain major types of risk, such as the credit and liquidity risks inherent in ING Belgium SA/nv, or the market risk in the event of resale before the Maturity of the Note. The ING 6Y EUR Strategy Notes 02/19 are in the risk class 2: 0 1 2 3 4 5 6 Information subsequent to subscription After the end of the subscription period, ING Belgium SA/nv will communicate to investors via its website (ing.be) all important information relating to the ING 6Y EUR Strategy Notes 02/19. The value of the Notes which is adapted weekly will also be accessible to investors via the internet (ing.be > Retail > Investments > Useful information > Net asset values and prices). In a later stage, it is possible that ING Belgium SA/nv will use other communication channels to correctly inform investors. 3
ING 6Y EUR Strategy Notes 02/19 More information Please read the Technical data on the last page. Risks Several types of risks are inherent in this Note: Risk of fluctuation in the value of the Notes (market risk) Certain parameters such as: - the prospect of a review of the Guarantor's rating, - the trend in interest rates on financial markets (a rise in market interest rates impacts negatively on the value of the Notes and a drop in market interest rates impacts positively on the value of the Notes), - the trend in the prices of the shares which make up (a drop in their prices entails a drop in the value of the Notes and a rise in the prices of the shares impacts positively on the value of the Notes), impact positively or negatively on the value of the Notes during their lifetime and entail a capital gain or a capital loss in the event of resale of the Notes by investors before their maturity. Insolvency risk of the Issuer and/or the Guarantor Investors are exposed to the Issuer's and/or the Guarantor's risk of insolvency (bankruptcy or default), which may result in the partial or total loss of the capital initially invested as well as any coupons due but unpaid (see Rating below: Technical data). Liquidity risk The Notes are listed on the Luxembourg stock exchange. Nonetheless such listing does not ensure the development of an active market allowing resale before Maturity. Save in exceptional circumstances, ING Belgium SA/nv will guarantee investors of market liquidity by offering investors a redemption price. Such redemption price is determined by ING Belgium SA/nv on the basis of models specific to it and take account of the current market parameters (see "Fluctuation risk of the value of the Notes" above). The redemption price could be lower than the nominal value of the Notes (capital loss risk). Under normal trading conditions, the difference between the buying price and the selling price on the market will be approximately 1.00%. Furthermore the price offered by ING Belgium SA/nv does not include brokerage frees, the stock exchange tax and any taxes (see "Technical data"). Below-average performance risk In the event the performance of is each year negative or flat, investors will not receive any coupons (gross actuarial return of -0.33% taking account of an issue price of 102%). Prospectus The Base Prospectus relating to the EUR 10,000,000,000 Issuance Programme of the Issuer was approved by Luxembourg's Financial Sector Supervisory Commission (Commission de Surveillance du Secteur Financier) on 29 June 2012. The Prospectus consists of the Base Prospectus as well as the Final Terms of the ING 6Y EUR Strategy Notes 02/19 of 4 January 2013. The Prospectus is available only in English, with the exception of the summary of the Base Prospectus, which is also available in French. These documents can be consulted at the website ing. be, under the headings "Investments" and then "In the spotlight". A copy is available, free of charge, from any ING branch in Belgium or simply by phoning. Disclaimer This Promotional Document is produced and distributed by ING Belgium SA/nv. Therefore it is not and should not be interpreted as a recommendation to subscribe, or advice or recommendation to conclude any transaction. Moreover this Promotional Document is communicated or made available by ING Belgium SA/nv to some or all of its customers and is not based on an examination of the individual situation of a particular customer. Unless the decision to invest is the outcome of investment advice provided by ING Belgium SA/nv, it is up to the customer to decide whether the financial instrument concerned by this Promotional Document is suited to his/her situation, without prejudice to the obligation of ING Belgium SA/nv to provide the information required with regard to the customer's knowledge and experience of financial instruments. This Promotional Document is intended for the use of the original recipient and must not be reproduced, redistributed or passed on to any other person or published, in whole or in part. The financial instruments concerned will not be registered pursuant to the United States Securities Act of 1933, as amended, and cannot be offered or sold in the United States, nor to American citizens, even outside the United States, nor to Green Card holders. 4
ING 6Y EUR Strategy Notes 02/19 technical data Issuer Guarantor and Distributor Guarantor s current rating ING Belgium International Finance SA, 52 route d Esch, L-2965 Luxembourg. ING Belgium SA/nv, 24, avenue Marnix, B-1000 Brussels. Standard and Poor s: A+ (Negative outlook); Moody s: A2 (Negative outlook); Fitch: A+ (Stable). Ratings are given for purely information purposes and are not recommendations to buy, sell or keep securities of the Issuer. Rating agencies can suspend, change or withdraw them at any time. Rating notices can be viewed on the following website www.ing.com/our-company/investor-relations/ratings.htm. Nominal amount A minimum of EUR 5,000,000 Subscription period Denominations/nominal value Issue price Payment Date/Initial Observation Date From 7 January 2013 to 1 February 2013 (inclusive), unless closed early. EUR 100/100% 102% of the nominal value 7 February 2013 End maturity 15 February 2019 Gross coupon Each year a gross coupon will be paid according to the performance (in percentage) of of shares, with a maximum of 6.25% (see above). Observation Dates 12 February 2014, 11 February 2015, 10 February 2016, 10 February 2017, 12 February 2018 and 12 February 2019. Coupon payment dates 17 February 2014, 16 February 2015, 15 February 2016, 15 February 2017, 15 February 2018 and 15 February 2019. Redemption at Maturity Form Quotation Resale before Maturity Securities code The Notes will be redeemed at 100% of their nominal value at Maturity, except in the case of bankruptcy or default by the Issuer and/or the Guarantor. Delivery solely on a securities portfolio with a financial institution. Custody in an account with ING Belgium SA/nv is free. Please enquire with other financial institutions about the safe-custody fees they apply. Quotation of the Notes on the Luxembourg stock exchange has been requested. Under normal trading conditions, investors have the possibility to resell their Notes before Maturity to ING Belgium SA/nv once a week (see also "Liquidity risk" above). ISIN: XS0865492127 Taxation In the case of private individuals residing in Belgium for tax purposes: Withholding tax: the income from the Notes is liable to withholding tax, currently 25%. In the event of a sale on the secondary market, the Personal Income tax at the distinct rate of 25% will be owed on the amount of securities income received on that occasion and declared. Income from the Notes on which the 25% withholding tax has been levied does not need to be indicated in the Personal Income Tax return. Tax on stock market transactions: in the event of a sale on the secondary market, the stock market tax (TOB) will be levied, currently 0.09% (maximum 650). In the case of private individuals who reside in a Member State of the European Union other than Belgium: the income from this Note will come under the current scope of the Savings Directive. Belgium will transmit information about the interest payments of this Note to the relevant Member State. The chapter on Taxation on p. 91 and seq. of the Base Prospectus describes the taxation system more extensively. Fees and charges The Issuer pays the Distributor a placement fee of 2% included in the Issue Price. The latter also includes a fee for structuring and distributing the securities of a maximum of 1.00% on an annual basis. In the event of resale of the Notes before their Maturity, brokerage fees will be applied to the price established by ING Belgium SA/nv. The brokerage fee is available on the ING website (ing.be > Investments > Useful information > Charges and regulations > List of charges applied to the main securities transactions). The English version of this promotional document is a translation of the official versions in French and Dutch which, in the event of a dispute, prevail. To subscribe or for more information: call 02 464 60 04 visit ing.be go to an ING branch ING Belgium SA/nv Bank avenue Marnix 24, B-1000 Brussels Brussels RPM/RPR VAT: BE 0403.200.393 BIC: BBRUBEBB IBAN: BE45 3109 1560 2789. Publisher: Inge Ampe Cours Saint-Michel 60, B-1040 Brussels 706486E Editing Team & Graphic Studio - Marketing ING Belgium 04/01/2013. 5