- Calamos S&P 500 Structured Alt Protection ETF – July
(CPSJ), offering an initial cap rate of 9.45% over a
one-year outcome period, launched today in response to investor
demand and following the success of Calamos' first S&P 500
capital-protected offering in May.
- The Calamos Structured Protection ETF suite combines
Calamos' decades-long alternatives and options investing expertise
with the liquid, cost-effective and tax-efficient ETF
structure.
- Calamos Structured Protection ETFs offer investors the most
comprehensive capital-protected suite across leading U.S. equity
indices (S&P 500®, Nasdaq-100® and
Russell 2000®)
METRO
CHICAGO, July 1, 2024
/PRNewswire/ -- Calamos Investments LLC ("Calamos"), a leading
alternatives manager, today announced the launch of the Calamos
S&P 500 Structured Alt Protection ETF – July (CPSJ), with 100%
downside protection over a one-year outcome period. CPSJ's initial
upside cap rate is 9.45% before fees and expenses.
CPSJ follows on the success of CPSM, the
first-ever ETF to offer 100% downside protection to the S&P 500
over a one-year period. Due to the positive response, Calamos will
now list its S&P 500 series each month, instead of quarterly as
originally planned.
"Calamos is a longstanding trusted provider of
alternatives and options-based strategies," said John Koudounis, President and CEO of Calamos
Investments. "Accelerating the launch of CPSJ was the natural next
step for meeting the strong investor demand we saw with our first
S&P 500 capital-protected series."
Calamos S&P
500® Structured Alt Protection ETF™ – July
(CPSJ)
|
Initial Cap
Rate
|
9.45 %
|
Initial NAV
|
$23.96
|
Outcome
Period
|
1 Year: 7/01/2024 to
6/30/2025
|
Reference
Asset
|
Price return of the
SPDR® S&P 500® ETF Trust (SPY),
based on the S&P 500® Index
|
Structured
Protection
|
100% downside
protection if held through the one-year outcome period
|
Annual Expense
Ratio
|
0.69 %
|
Portfolio
Management
|
Co-CIO
Eli Pars and the Alternatives Team
|
Benchmarks
|
S&P
500® Index, Price Return
MerQube Capital
Protected US Large Cap Index – July
|
Tax
Application
|
Gains in an ETF grow
tax-deferred and will be taxed at long-term capital gain rates if
held longer than one year
|
|
|
|
CPSJ resets annually, offering investors a new
upside cap with refreshed protection against negative returns in
their reference assets over the subsequent 12-month period. If
shares are held longer than one year, they can deliver significant
tax alpha as potential gains will grow tax-deferred and will be
taxed at long-term capital gains rates. Shares of Structured
Protection ETFs can be held indefinitely.
Learn more about the full suite of Calamos
Structured Protection ETFs™. For weekly updates on current caps and
protection levels for all of Calamos' Structured Protection ETFs,
advisors and investors can subscribe to the Weekly Rate Sheet.
About Calamos
Calamos Investments is a
diversified global investment firm offering innovative investment
strategies, including alternatives, multi-asset, convertible, fixed
income, private credit, equity, and sustainable equity. With
$38 billion in AUM, including more
than $16 billion in liquid
alternatives assets as of June 30,
2024, the firm offers strategies through ETFs, mutual funds,
closed-end funds, interval funds, UCITS funds and separately
managed portfolios. Clients include financial advisors, wealth
management platforms, pension funds, foundations & endowments,
and individuals, globally. Headquartered in
the Chicago metropolitan area, the firm also has offices
in New York, San
Francisco, Milwaukee, Portland, Oregon, and the Miami area. For more
information, visit us on LinkedIn, on Twitter (@Calamos),
on Instagram (@calamos_investments), or
at www.calamos.com.
The information in each fund's prospectus
and statement of additional information) is not complete and may be
changed. We may not sell the securities of any fund until such
fund's registration statement filed with the Securities and
Exchange Commission is effective. Each fund's prospectus and
statement of additional information is not an offer to sell such
fund's securities and is not soliciting an offer to buy such fund's
securities in any state where the offer or sale is not
permitted.
Before investing, carefully consider the
fund's investment objectives, risks, and charges and expenses.
Please see the prospectus and summary
prospectus containing this and other information
which can be obtained by calling 1-866-363-9219. Read it carefully
before investing.
Calamos Investments LLC, referred to herein
Calamos is a financial services company offering such services
through its subsidiaries: Calamos Advisors LLC, Calamos Wealth
Management LLC, Calamos Investments LLP, and Calamos Financial
Services LLC.
An investment in the Fund(s) is subject to
risks, and you could lose money on your investment in the
Fund(s). There can be no assurance that the Fund(s) will
achieve its investment objective. Your investment in the Fund(s) is
not a deposit in a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation (FDIC) or any other
government agency. The risks associated with an investment in the
Fund(s) can increase during times of significant market volatility.
The Fund(s) also has specific principal risks, which are described
below. More detailed information regarding these risks can be found
in the Fund's prospectus.
Investing involves risks. Loss of principal is
possible. The Fund(s) face numerous market trading risks,
including authorized participation concentration risk, cap change
risk, capital protection risk, capped upside risk, cash holdings
risk, clearing member default risk, correlation risk, derivatives
risk, equity securities risk, investment timing risk,
large-capitalization investing risk, liquidity risk, market maker
risk, market risk, non-diversification risk, options risk,
premium-discount risk, secondary market trading risk, sector risk,
tax risk, trading issues risk, underlying ETF risk and valuation
risk. For a detailed list of fund risks see the prospectus.
There are no assurances the Fund(s) will be
successful in providing the sought-after protection. The outcomes
that the Fund(s) seeks to provide may only be realized if you are
holding shares on the first day of the outcome period and continue
to hold them on the last day of the outcome period, approximately
one year. There is no guarantee that the outcomes for an outcome
period will be realized or that the Fund(s) will achieve its
investment objective. If the outcome period has begun and the
underlying ETF has increased in value, any appreciation of the
Fund(s) by virtue of increases in the underlying ETF since the
commencement of the outcome period will not be protected by the
sought-after protection, and an investor could experience losses
until the underlying ETF returns to the original price at the
commencement of the outcome period. Fund shareholders are subject
to an upside return cap (the "Cap") that represents the maximum
percentage return an investor can achieve from an investment in the
fund(s) for the outcome period, before fees and expenses. If the
outcome period has begun and the Fund(s) have increased in value to
a level near to the Cap, an investor purchasing at that price has
little or no ability to achieve gains but remains vulnerable to
downside risks. Additionally, the Cap may rise or fall from one
outcome period to the next. The Cap, and the Fund(s) position
relative to it, should be considered before investing in the
Fund(s). The Fund(s) website, www.calamos.com, provides important
Fund information as well information relating to the potential
outcomes of an investment in the Fund(s) on a daily
basis.
The Fund(s) are designed to provide
point-to-point exposure to the price return of the reference asset
via a basket of Flex Options. As a result, the ETFs are not
expected to move directly in line with the reference asset during
the interim period. Investors purchasing shares after an outcome
period has begun may experience very different results than fund's
investment objective. Initial outcome periods are approximately
1-year beginning on the fund's inception date. Following the
initial outcome period, each subsequent outcome period will begin
on the first day of the month the fund was incepted. After the
conclusion of an outcome period, another will begin.
FLEX Options Risk – The
Fund(s) will utilize FLEX Options issued and guaranteed for
settlement by the Options Clearing Corporation (OCC). In the
unlikely event that the OCC becomes insolvent or is otherwise
unable to meet its settlement obligations, the Fund(s) could suffer
significant losses. Additionally, FLEX Options may be less liquid
than standard options. In a less liquid market for the FLEX
Options, the Fund(s) may have difficulty closing out certain FLEX
Options positions at desired times and prices. The values of FLEX
Options do not increase or decrease at the same rate as the
reference asset and may vary due to factors other than the price of
reference asset. Shares are bought and sold at market price, not
net asset value (NAV), and are not individually redeemable from the
fund. NAV represents the value of each share's portion of the
fund's underlying assets and cash at the end of the trading day.
Market price returns reflect the midpoint of the bid/ask spread as
of the close of trading on the exchange where fund shares are
listed.
100% capital protection is over a one-year period
before fees and expenses. All caps are pre-determined.
Cap Rate – Maximum percentage return an
investor can achieve from an investment in the Fund if held over
the Outcome Period.
Protection Level – Amount of protection
the Fund is designed to achieve over the Days Remaining.
Outcome Period – Number of days in the
Outcome Period.
STRUCTURED ALT PROTECTION ETF and STRUCTURED
PROTECTION ETF are trademarks of Calamos Investments LLC.
Calamos Financial Services LLC, Distributor
© 2024 Calamos Investments LLC. All Rights
Reserved. Calamos® and Calamos Investments® are registered
trademarks of Calamos Investments LLC.
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SOURCE Calamos Investments