Fixed income securities are subject to interest-rate risk; as interest rates go up, the value of debt securities in the Fund’s portfolio generally will decline.
There are certain risks associated with an investment in a convertible bond such as default risk—that the company issuing a convertible security may be unable to repay principal and interest—and interest rate risk—that the convertible may decrease in value if interest rates increase. The Adviser will enter into the 10b5-1 Plan on behalf of itself and its affiliates under which Wells Fargo Securities, LLC, as agent for the Adviser, will buy up to million of our common shares in the aggregate during the period beginning after 45 days after the closing of this offering and ending conditions and daily purchase limits.
On an annualized basis this distribution reflects a current yield of 8.02% based upon an IPO price of .00 per share This prospectus supplement, together with the accompanying prospectus, sets forth concisely the information that you should know before investing.
Investments by the Fund in lower-rated securities involve substantial risk of loss and present greater risks than investments in higher rated securities, including less liquidity and increased price sensitivity to changing interest rates and to a deteriorating economic environment.If the Fund’s Board of Trustees believes that under then current market conditions it is in the best interests of the Fund to do so, the Fund may extend the Termination Date for one year, which is anticipated to be March 26th, 2031, without a shareholder vote, upon the affirmative vote of three-quarters of the Trustees then in office.Beginning one year before the Termination Date (the “wind-down period”), the Fund may begin liquidating all or a portion of the Fund’s portfolio.This prospectus supplement, together with the accompanying prospectus, sets forth concisely the information that you should know before investing.A presentation from the Calamos quarterly closed-end funds webcast that provides an update and overview of the closed-end funds marketplace, as well as positioning and performance review for the Calamos closed-end funds.Current Annualized Distribution Rate is the Fund’s most recent distribution, expressed as an annualized percentage of the Fund’s current market price per share.