Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 84

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 84
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36.5% of the Fund’s managed assets. Interest on the SSB Agreement is charged on the drawn amount at the rate of the Overnight Bank Financing Rate (OBFR) plus 0.52%, payable monthly in arrears. Interest on overdue amounts or interest on the drawn amount paid during an event of default will be charged at OBFR plus 2.52%. These rates represent floating rates of interest that may change over time. The SSB Agreement also provides that if the Fund restricts SSB’s ability to lend securities to multiple otherwise eligible counterparties that, on a historical basis, have accounted for more than 25% up to 50% of the Fund’s historical securities lending transactions, the borrowing cost under the SSB Agreement will increase by .25% per annum, and that if the Fund restricts SSB’s ability to lend securities to multiple otherwise eligible counterparties that, on a historical basis, have accounted for more than 50% of the Fund’s historical securities lending transactions, the borrowing cost under the SSB Agreement will increase by 0.45% per annum, Further, if the Fund restricts securities comprising more than 5% of its total assets from being available to lend for purposes of the securities lending program (excluding certain categories of ordinary course restrictions or as otherwise agreed by SSB), the costs of leverage to the Fund will be increased by 0.20% per annum. The SSB Agreement has a commitment fee of 0.10% of any undrawn amount. As of January 31, 2025, the interest rate charged under the SSB Agreement was 5.35%. The Fund’s MRP Shareholders are entitled to receive monthly cash dividends, at a currently effective dividend rate per annum for each series of MRP Shares as follows (subject to adjustment as described above in “Mandatory Redeemable Preferred Shares”): 4.24% for Series C MRP Shares, 2.45% for Series D MRP Shares, 2.68% for Series E MRP Shares, and 6.24% for Series G MRP Shares. To cover the interest expense on the borrowings under the SSB Agreement and the dividend payments associated with the MRP Shares, based on rates in effect on January 31, 2025, the Fund’s portfolio would need to experience an annual return of 1.71% (before giving effect to expenses associated with senior securities). Leverage is a speculative technique that could adversely affect the returns