CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - JANUARY

Calamos S&P 500®​ Structured Alt Protection ETFTM​ — January (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 7.57% (the "Cap"), while protecting against 100% of negative price return of the Underlying ETF (before fees and expenses), for the period from January 1, 2025 through December 31, 2025.