Enjoy periodic coupons and redemption at maturity

A bond is a recognition of the issuing body's debt. The bond has a fixed term, an interest rate that entitles the holder to periodic coupons and a redemption at maturity.

  • Fixed term

    A bond has a fixed borrowing term. In practice, its issuer borrows the funds for a set period of time, and you can then take out one or several bonds. Each bond represents a participation in this loan.

  • Periodic coupon

    A bond is a recognition of the issuer's debt to you, the bondholder. You can therefore receive any interest in the form of coupons. In this case the applied interest rate may be fixed or variable.

  • Redemption

    A bond gives a right to repayment of the initial capital invested by the Issuer at Maturity. In general, this is 100% of the nominal value of the bond (excluding fees and charges).

  • Risks

    The main risks are market risk, insolvency risk of the Issuer, risk of capital losses, exchange rate risk and liquidity risk. You can find this information further down this page under 'Main risks'.

Let's take an issuer. This could be: a large private company (Belgian or foreign), a bank, an institution, a public organisation (Belgian or foreign) or an international organisation.

This issuer issues a long-term loan facility; in other words it borrows money. You can then subscribe to one or several bonds. Each bond represents a participation in this loan. In concrete terms, a bond is a recognition of the issuer's debt to you, the bondholder. You can then receive any interest (coupons).

A bond has:

  • a fixed borrowing term
  • an issue price (if bought during the subscription period on the primary market) or a purchase price (if bought on the secondary market)
  • an interest rate that entitles the holder to payment of a periodic coupon
  • a redemption price at maturity (in general, 100% of the nominal value of the bond).

Bonds are issued on the primary market. It is possible to subscribe to them during a subscription period. A bond may be issued at par (issue price = 100% of nominal value), above par (e.g. 102%) or below par (e.g. 98%).

Once they have been issued, bonds may be traded (purchased/sold) on the secondary market, where prices vary daily: when interest rates rise, prices fall and vice-versa.

  • Market risk: the value of bonds may fluctuate as a result of various factors, including changes in interest rates. Investors wishing to sell their bonds prior to the final maturity must do so at the market price. This may result in a gain or loss from the par value, favourably or unfavourably, due to various factors.
  • Insolvency risk of the issuer: Is the risk that the invested capital and the coupons will be partially or not repaid in the event of bankruptcy or default by the issuer.
  • Risk of capital losses: Due to various factors, the value of the bond will rise or fall on the secondary market over time. If the investor sells before the maturity date this may incur capital gains or losses. No guarantee is provided as to the recovery of your initial investment.
  • Exchange rate risk: The exchange risk has to do with the possibility that the return on the investment will fall as a result of an unfavorable evolution of the currency in which the obligation is listed.
  • Liquidity risk: The liquidity risk is related to the possibility that the investor may encounter difficulties in recovering his entire invested capital before the maturity date.
  • Contact us online:, call us: +32 2 464 60 04 or send us a letter: ING Complaint Management, Cours Saint Michel/Sint-Michielswarande 60, 1040 Brussels.
  • Have you already been in touch with ING? You can also contact Ombudsfin, North Gate II, Avenue Roi Albert II/Koning Albert II-laan 8/bt 2, 1000 Brussels, call +32 2 545 77 70 or send an email to

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