Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 149

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 149
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 of, and Rule 19b-1 under, the 1940 Act to conditionally permit the Fund to make periodic distributions of long-term capital gains with respect to the Fund’s outstanding common shares as frequently as twelve times each year, so long as it complies with the conditions of the order and maintains in effect a distribution policy with respect to its common shares calling for periodic distributions of an amount equal to a fixed amount per share, a fixed percentage of market price per share or a fixed percentage of the Fund’s net asset value per share (the “Managed Distribution Policy”). As of the date of this Prospectus, as supplemented, the Fund is not using a Managed Distribution Policy. Pursuant to and in reliance on the order granted by the Commission, under the Managed Distribution Policy, the Fund is required to:

| ● | implement                                                                                   
 certain compliance review and reporting procedures with respect to the Managed Distribution 
 Policy;                                                                                     |

| ● | include in                                                                                 
 each notice to shareholders that accompanies distributions certain information in addition 
 to the information currently required by Section 19(a) of and Rule 19a-1 under             
 the 1940 Act;                                                                              |

| ● | include disclosure                                                                                 
 regarding the Managed Distribution Policy on the inside front cover of each annual and semi-annual 
 report to shareholders;                                                                            |

| ● | provide the                                                                           
 Fund’s total return in relation to changes in NAV in the financial highlights table   
 and in any discussion about the Fund’s total return in each prospectus and annual and 
 semi-annual report to shareholders;                                                   |

| ● | include the                                                                                                
 information contained in each notice to shareholders that accompanies distributions in: (a) communications 
 regarding the Managed Distribution Policy to shareholders, prospective shareholders and third-party        
 information providers; (b) a press release issued contemporaneously with the issuance                      
 of the notice; (c) an exhibit to the Fund’s next report filed with the Commission                          
 on Form N-CSR; and (d) a statement posted prominently on its website; and                                  |

| ● | take certain steps to ensure the delivery of the notices accompanying distributions to beneficial owners whose Fund shares are 
 held through a financial intermediary.                                                                                         |

| ● | In addition, if the Fund’s common shares were to trade at a significant premium to NAV following the implementation of               
 the Managed Distribution Policy, and certain other circumstances were present, the Fund’s Board of Trustees would be required        
 to determine whether to approve or disapprove the continuation, or continuation after amendment, of the Managed Distribution