My guess is it is not a 5% chance of spawning. 1% sounds far more likely.
At 1% chance of spawning
After 100 kills: 36% chance of not getting spawn
After 200 kills: 13% chance of not getting spawn
After 300 kills: 5% chance of not getting spawn
At 2% chance of spawning
After 100 kills: 13% chance of not getting spawn
After 200 kills: 1.7% chance of not getting spawn
After 300 kills: .2% chance of not getting spawn
At 5% chance of spawning
After 10 kills: 59% chance of not getting spawn
After 25 kills: 28% chance of not getting spawn
After 50 kills: 8% chance of not getting spawn
After 75 kills: 2% chance of not getting spawn
After 100 kills: .5% chance of not getting spawn
After 200 kills: .0035% chance of not getting spawn
After 300 kills: .000020753% chance of not getting spawn
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