I would say that there are two schools of thought on this one:
One says that the CBM achieved at the end of step 1 is held (as a side lead) on step 2, and maintained again as the RF is placed in CBMP on step 3. This is more-or-less standard technique, and is reasonable, given the absence of turn.
The other says that the degree of rotation develops over the same steps, winding up the body, for release on the swing into the follow with CBM.
I think that many dancers would tend to prefer the latter interpretation, but that it is a matter of judgment, and certainly shouldn't be overdone.