SYT » Topics » Business Day Convention

This excerpt taken from the SYT 20-F filed Feb 18, 2009.
Business Day Convention”, in relation to any particular date, has the meaning given in the relevant Final Terms and, if so specified in the relevant Final Terms, may have different meanings in relation to different dates and in this context, the following expressions shall have the following meanings:
 
(i)
Following Business Day Convention” means that the relevant date shall be postponed to the first following day that is a Business Day:
 
(ii)
Modified Following Business Day Convention” or “Modified Business Day Convention” means that the relevant date shall be postponed to the first following day that is a Business Day unless that day falls in the next calendar month in which case that date will be the first preceding day that is a Business Day;
 
(iii)
Preceding Business Day Convention” means that the relevant date shall be brought forward to the first preceding day that is a Business Day;
 
(iv)
FRN Convention”, “Floating Rate Convention” or “Eurodollar Convention” means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the relevant Final Terms as the Specified Period after the calendar month in which the preceding such date occurred provided, however, that:
 
 
(A)
if there is no such numerically corresponding day in the calendar month in which any such date should occur, then such date will be the last day which is a Business Day in that calendar month;
 
 
(B)
if any such date would otherwise fall on a day which is not a Business Day, then such date will be the first following day which is a Business Day unless that day falls in the next calendar month, in which case it will be the first preceding day which is a Business Day; and
 
 
(C)
if the preceding such date occurred on the last day in a calendar month which was a Business Day, then all subsequent such dates will be the last day which is a Business Day in the calendar month which is the specified number of months after the calendar month in which the preceding such date occurred; and
 
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(v)
No Adjustment” means that the relevant date shall not be adjusted in accordance with any Business Day Convention;
 
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