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Enron Mail |
Friday, 11/22/00 was an Exchange holiday. "Preceding" is fine as the
business day convention as long as the change is made in all of the relevant swaps. SS Greg Johnston 12/27/2000 09:00 AM To: Sara Shackleton/HOU/ECT@ECT cc: Tana Jones/HOU/ECT@ECT Subject: RBC Commodity Swap Sara, I assume that the below is okay. Can you let me know if you have dealt with this, as I have been out of the office until today. Thanks Greg ---------------------- Forwarded by Greg Johnston/CAL/ECT on 12/27/2000 07:58 AM --------------------------- "Ross, Tracy " <TRACY.ROSS@ROYALBANK.COM< on 12/22/2000 08:30:36 AM To: "'sarah.shackleton@enron.com'" <sarah.shackleton@enron.com<, "'tana.jones@enron.com'" <tana.jones@enron.com<, "'greg.johnston@enron.com'" <greg.johnston@enron.com< cc: Subject: RBC Commodity Swap I am not sure which of you handles the commodity swaps so I am sending this to all of you.? The final Pricing Date for the Commodity Swap (your reference Q19197) is today and we noticed a discrepancy in the swap we have with you and the one with Chase.? In our Chase swap we specified that the Pricing Dates for Floating Price are each Friday in the Calculation Period subject to adjustment in accordance with the Preceding Business Day Convention.? No Business Day Convention was specified in the swap we have with you and it will be an issue as US Thanksgiving in November was on a Friday.? Since the Floating Payments we make to Chase (which flow back to you) need to match the payments you give to us, we need to amend our swap with you to specify Preceding Business Day Convention.? Can you let me know if this is acceptable and I will prepare an amendment or please call me to discuss. Thanks Tracy Ross, Counsel, Royal Bank of Canada Phone: 416-974-5503; Fax: 416-974-2217 File - SW Enron This email may be privileged and confidential.? Any dissemination or use of this information by a person other than the intended recipient(s) is unauthorized.? If you receive this in error, please advise me immediately.
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