CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF MAY

Calamos S&P 500 Structured Alt Protection ETF — May (the “Fund”) seeks to provide investment results that, before taking fees and expenses into account, match the positive price return of the SPDR® S&P 500® ETF Trust (“Underlying ETF”) up to a cap of 9.81% (the “Cap”), while protecting against 100% of negative price return of the Underlying ETF (before fees and expenses), for the period from May 1, 2024 through April 30, 2025.