Company: CHY
Filing Date: 2025-06-27
Form Type: N-CSRS
Source: 0001104659-25-063497
Chunk: 34

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-06-27
Form: N-CSRS
Chunk 34
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 Income Trust  |     |               | 120.0 |     |               | 4.99 | % |     |                   |   120.0 |     |               | 4.85 | % |

Under the terms of the SSB Agreement, all securities lent through SSB must be secured continuously by collateral received in cash. Cash collateral received by SSB on behalf of the Fund is deposited by SSB in a custodial account of the Fund and then applied to repay borrowings under the SSB Agreement, such that the cash advanced to the Fund remains unchanged. The securities on loan are collateralized by cash collateral received and not securities as disclosed in the Statement of Assets and Liabilities and the Schedule of Investments. The contractual maturity of the collateral received under the securities lending agreement is classified as overnight and continuous. Upon termination of a securities loan, SSB will advance to the Fund the cash collateral required to be returned by the Fund, or secure the appropriate amount through one or more securities lending transactions as the Fund's agent, and deposit the amount to a custodial account of the Fund and then subsequently return such amount to the securities borrower against return of the securities on loan. Again, the net cash to the Fund is unaltered. Only the composition of the advance is changed, and regardless of the composition of advances as between cash collateral for securities lending transactions or borrowings from SSB, they are not reflected separately in the Statements of Assets and Liabilities but as a component of the Notes Payable. The Fund has the right to recall securities which have been lent at any time. The securities lending arrangement with SSB involves characteristics common in arm's length relationships in which one party may benefit at the expense of the other party. As of April 30, 2025, the Funds had securities on loan under the SSB Agreement which are reflected in the Investment in securities, at value on the Statement of Assets and Liabilities and are shown in the table below. The borrowings are categorized as Level 2 within the fair value hierarchy. The composition of the securities on loan was as follows:

| FUND                                      |     | SECURITIES    
 ON LOAN       
 (IN MIILIONS) |       |     | FIXED INCOME  
 SECURITIES    
 (IN MILLIONS) |       |     | EQUITY        
 SECURITIES    
 (IN MILLIONS) |       |
|:------------------------------------------|:----|:--------------|------:|:----|:--------------|------:|:----|