The Deutsche Telekom Express 2 certificate provides the annual opportunity for early redemption and enables investors to obtain a profit of 9% per year (maximum 45%).

The certificate has a maximum term of 5 years (until June 2024). It is redeemed prior to the maturity date, if the closing price of the share of Deutsche Telekom AG quotes at or above the termination level (equals the starting value of 100%) at one of the annual valuation dates.

If the share closing price quotes below the termination level at the fixed annual date the term extends by another year to the next annual valuation date and the possible yield rises by 9%. In the fifth and final year the termination price is 145%. If the closing price of the share touches or undercuts the barrier of 60% at the final valuation date, the investor receives no yield and the predefined amount of Deutsche Telekom shares is delivered.

This certificates complies with the sustainability standard for Raiffeisen Certificates and takes into account important adverse impacts on sustainability factors ("PAIs").