Company: CHY
Filing Date: 2025-02-24
Form Type: 424B5
Source: 0001104659-25-016491
Chunk: 150

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-24
Form: 424B5
Chunk 150
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 Policy. 
 Finally, pursuant to the order, the Fund would not be permitted to make a public offering of common shares other than:               |

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| ● | a rights offering below NAV to holders of the Fund’s common shares; |

| ● | an offering in connection with a dividend reinvestment plan, merger, consolidation, acquisition, spin-off or reorganization of 
 the Fund; or                                                                                                                   |

| ● | an offering other than those described above, unless, with respect to such other offering: |

| ● | the transmittal letter accompanying any registration statement filed with the Commission in connection with such offering discloses  
 that the Fund has received an order under Section 19(b) of the 1940 Act to permit it to make periodic distributions of               
 long-term capital gains with respect to its common stock as frequently as twelve times each year, and as frequently as distributions 
 are specified in accordance with the terms of any outstanding preferred stock that such fund may issue.                              |

The relief described above will expire on the effective date of any amendment to Rule 19b-1 under the 1940 Act that provides relief permitting certain closed-end investment companies to make periodic distributions of long-term capital gains with respect to their outstanding common stock as frequently as twelve times each year. Under the Managed Distribution Policy, if, for any distribution, undistributed net investment income and net realized capital gains were less than the amount of the distribution, the difference would be distributed from the Fund’s other assets. In addition, in order to make such distributions, the Fund might have to sell a portion of its investment portfolio at a time when independent investment judgment might not dictate such action. Under the 1940 Act, the Fund is not permitted to incur indebtedness unless immediately after such incurrence the Fund has an asset coverage of at least 300% of the aggregate outstanding principal balance of indebtedness. Additionally, under the 1940 Act, the Fund generally may not declare any dividend or other distribution upon any class of its shares, or purchase any such shares, unless the aggregate indebtedness of the Fund has, at the time of the declaration of any such dividend or distribution or at the time of any such purchase, an asset coverage of at least 300% after deducting the amount of such dividend, distribution, or purchase price, as the case may be, except that dividends may be declared upon any preferred shares if such indebtedness has an asset coverage of at least 200% at the time of declaration thereof after deducting the amount of the