Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 36

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 36
---
 value of the Fund’s investments; |

| ● | the economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession; |

| ● | economic, political and social developments may adversely affect the securities markets in foreign jurisdictions, including expropriation 
 and nationalization;                                                                                                                      |

| ● | the difficulty in obtaining or enforcing a court judgment in non-U.S. countries; |

| ● | restrictions on foreign investments in non-U.S. jurisdictions; |

| ● | difficulties in effecting the repatriation of capital invested in non-U.S. countries; |

| ● | withholding and other non-U.S. taxes may decrease the Fund’s return; |

| ● | the ability for the Public Company Accounting Oversight Board, which regulates auditors of U.S. public companies, is unable to 
 inspect audit work papers in certain foreign countries;                                                                        |

| ● | often limited rights and few practical remedies to pursue shareholder claims, including class actions or fraud claims, and the       
 ability of the Commission, the U.S. Department of Justice and other authorities to bring and enforce actions against foreign issuers 
 or foreign persons is limited; and                                                                                                   |

| ● | dividend income the Fund receives from foreign securities may not be eligible for the special tax treatment applicable to qualified 
 dividend income.                                                                                                                    |

12 Based upon the Fund’s test for determining whether an issuer is a “foreign issuer” as described above, it is possible that an issuer of securities in which the Fund invests could be organized under the laws of a foreign country, yet still conduct a substantial portion of its business in the U.S. or have substantial assets in the U.S. In this case, such a “foreign issuer” may be subject to the market conditions in the U.S. to a greater extent than it may be subject to the market conditions in the country of its organization. See “Risk Factors - Fund Risks - Foreign Securities Risk.” See also ” - Non-U.S. Government Obligation Risk.” Forward Currency Exchange Contracts Risk.Forward contracts are contractual agreements to purchase or sell a specified currency at a specified future date (or within a specified time period) at a price set at the time of the contract. The Fund may not fully benefit from, or may lose money on, forward foreign currency transactions if changes in currency exchange rates do not occur as anticipated or do not correspond accurately to changes in the value of the Fund’s holdings. Geographic Concentration Risk.Investments in a particular country or geographic region may be