Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 26

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 26
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 date of May 24, 2027, and 1,440,000 Series G MRP Shares, with an aggregate liquidation preference of $36,000,000 and a mandatory redemption date of September 9, 2029. The Series C, Series D, Series E, and Series G MRP Shares are to pay monthly cash dividends initially at rates of 4.24%, 2.45%, 2.68%, and 6.24%, respectively, subject to adjustment under certain circumstances. Additional details regarding the SSB Agreement and the MRP Shares are included under “Leverage.” 6 As of January 31, 2025, the Fund had utilized $341 million of the $480 million available under the SSB Agreement ($276 million in advances outstanding, and $65 million in structural leverage consisting of collateral received from counterparties to securities lending transactions through SSB in connection with securities on loan), representing 25.6% of the Fund’s managed assets as of that date, and had $145 million in liquidation preference of MRP Shares outstanding, representing 10.9% of the Fund’s managed assets. Combined, the proceeds of borrowings and structured leverage under the SSB Agreement and the current liquidation preference of outstanding MRP Shares represented 36.5% of the Fund’s managed assets. The Fund may make further use of financial leverage through the issuance of additional preferred shares or may borrow money or issue additional debt securities to the extent permitted under the 1940 Act and under the SSB Agreement. As a non-fundamental policy, the Fund may not issue preferred shares or borrow money and/or issue debt securities with an aggregate liquidation preference and aggregate principal amount exceeding 38% of the Fund’s managed assets measured at the time of borrowing or issuance of the new securities. However, the Board of Trustees reserves the right to issue preferred shares or debt securities or borrow to the extent permitted by the 1940 Act. See “Leverage.” The holders of preferred shares or debt, if any, on the one hand, and the holders of the common shares, on the other, may have interests that conflict with each other in certain situations. See “Description of Securities - Preferred Shares” and “Certain Provisions of the Agreement and Declaration of Trust and By-Laws, Including Antitakeover Provisions.” Because Calamos’ investment management fee is a percentage of the Fund’s managed assets, Calamos’ fee will be higher if the Fund is leveraged