DWT instruction address

Hello there,

As I was reading the arch TRM some doubts emerged in the DWT component. When it talks about instruction address watching I am not sure if this refers to the address of the instruction or instruction itself. For example, let's say that I have a branch instruction in the address 0x12000000. When I configure the comparator should I give it the address 0x12000000 or the opcode of the instruction?

Cheers