Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 79

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 79
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 to liquidate investments at times and at prices that are not favorable to the Fund, or the Fund may be forced to forgo investments that Calamos otherwise views as favorable. The extent to which the Fund employs leverage will depend on many factors, the most important of which are investment outlook, market conditions and interest rates. Successful use of a leveraging strategy depends on Calamos’ ability to predict correctly interest rates and market movements. There is no assurance that a leveraging strategy will be successful during any period in which it is employed. Mandatory Redeemable Preferred Shares On September 6, 2017, the Fund completed a private placement of 1,480,000 Series C MRP Shares. On August 24, 2021, the Fund completed a private placement of 1,400,000 Series D MRP Shares and 1,460,000 Series E MRP Shares. On September 9, 2024, the Fund completed a private placement of 1,440,000 Series G MRP Shares. Each MRP Share has a liquidation preference of $25.00, resulting in an aggregate liquidation preference of $145 million for all MRP Shares. The holders of MRP Shares for the Fund (“MRP Shareholders”) are entitled to receive monthly cash dividends, payable on the first business day (a “Dividend Payment Date”) of each month following issuance. 37 Subject to adjustment as described below under “MRP Shares Dividends,” the dividend rate per annum (the “Applicable Rate”) for each series of MRP Shares is as follows:

| MRP Shares          |     | Applicable 
 Rate       |      |   |
| Series C MRP Shares |     |            | 4.24 | % |
| Series D MRP Shares |     |            | 2.45 | % |
| Series E MRP Shares |     |            | 2.68 | % |
| Series G MRP Shares |     |            | 6.24 | % |

The MRP Shares have a term redemption date of September 6, 2027 for the Series C MRP Shares, August 24, 2026 for the Series D MRP Shares, May 24, 2027 for the Series E MRP Shares, and September 9, 2029 for the Series G MRP Shares. During the year ended October 31, 2024, all MRP Shares were rated ‘AA-’ by Kroll Bond Rating Agency LLC