Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 51

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 51
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 as a percentage of our average net assets as of January 31, 2025, and not as a percentage of gross assets or managed assets. By showing expenses as a percentage of average net assets, expenses are not expressed as a percentage of all of the assets we invest. The table and example are based on our capital structure as of January 31, 2025. As of January 31, 2025, the Fund had utilized $341 million of the $480 million available under the SSB Agreement ($276 million of advances outstanding, and $65 million in structural leverage consisting of collateral received from counterparties via SSB in connection with securities on loan), representing 25.6% of the Fund’s managed assets as of that date, and had $145 million of MRP Shares outstanding, representing 10.9% of the Fund’s managed assets. Combined, the borrowings under the SSB Agreement and the outstanding MRP Shares represented 36.5% of the Fund’s managed assets.

| Shareholder Transaction Expenses                                        
 Sales Load (as a percentage of offering price)                          
 Offering Expenses Borne by the Fund (as a percentage of offering price) |     |   |     — 
     — | (1) 
 (1) |
|:------------------------------------------------------------------------|:----|:--|------:|:----|
| Dividend Reinvestment Plan Fees (per sales transaction fee)(2)          |     | $ | 15.00 |     |

| Annual Expenses                        |     | Percentage             
 of Average Net         
 Assets Attributable to 
 Common Shareholders    |      |   |
| Management Fee(3)                      |     |                        | 1.27 | % |
| Interest Payments on Borrowed Funds(4) |     |                        | 2.19 | % |
| Preferred Stock Dividend Payments(5)   |     |                        | 0.71 | % |
| Other Expenses(6)                      |     |                        | 0.09 | % |
| Total Annual Expenses                  |     |                        | 4.26 | % |

Example: The following example illustrates the expenses that common shareholders would pay on a $1,000 investment in common shares, assuming (1) total annual expenses of 4.26% of net assets attributable to common shareholders; (2) a 5% annual return; and (3) all distributions are reinvested at net asset value:

|                                               |     | 1 Year |    |     |