Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 80

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 80
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 (“KBRA”).If the ratings of the MRP Shares are downgraded, the Fund’s dividend expense may increase, as described below. Liquidation Preference.In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Fund, the MRP Shareholders will be entitled to receive a preferential liquidating distribution equal to $25.00 per MRP Share plus accrued and unpaid dividends, after satisfaction of claims of creditors of the Fund, but before any distribution of assets is made to common shareholders. MRP Shares Dividends.If, on the first day of the monthly dividend period immediately preceding a Dividend Payment Date (each such period a “Dividend Period”), Series C MRP Shares, Series D MRP Shares, Series E MRP Shares or Series G MRP Shares are rated no less than “A” by KBRA (and no less than the equivalent of such rating by some other NRSRO, if any, other than KBRA, such as Fitch Ratings, Inc. (“Fitch”), providing a rating for the MRP Shares pursuant to the request of the Fund), then the dividend rate for such period (the “Dividend Rate”) will be equal to the Applicable Rate for such series. If, on the first day of a Dividend Period, the credit rating assigned on any date to the MRP Shares are rated lower than the equivalent “A” by KBRA (or lower than the equivalent of such rating by any Other Rating Agency), the Dividend Rate applicable to such series of outstanding MRP Shares for such Dividend Period shall be the Applicable Rate plus the enhanced dividend amount (which shall not be cumulative) set opposite the lowest of such ratings in the table below:

| KBRA Rating (or Equivalent by any Other Rating Agency) |     | Enhanced 
 Dividend 
 Amount   |     |   |
| “A-”                                                   |     |          | 0.5 | % |
| “BBB+” to “BBB-”                                       |     |          | 2.0 | % |
| “BB+” or below                                         |     |          | 4.0 | % |

A 4.0% premium in addition to the Applicable Rate may apply when the Fund fails to maintain a current credit rating, and a 5.0% premium may apply when the Fund fails to make timely payments with regard to the MRP Shares (subject to cure periods in each case). Limitation on Common Share Distributions.With regard to