John Koudounis, President and Chief Executive Officer of Calamos Investments, joined Julie Cooling, Founder and CEO of RIA Channel, at the New York Stock Exchange bell-ringing ceremony to celebrate the launch of the Calamos Autocallable Income ETF (CAIE).
CAIE is the market’s first autocallable income ETF. The fund reached $160 million in assets in the two months since its launch. Before this ETF, accredited investors and qualified purchasers wishing to earn autocallable income needed to invest in a portfolio of autocallable notes, each with a minimum investment of $250,000. Koudounis calls CAIE the “easy button” for investing in a portfolio of autocallable notes, which democratizes this product by making it available to retail investors.
Investors in CAIE earn a monthly income, which started at an annual rate of 14.7%. The coupon and principal value of the notes can decline when the US equity market declines by 40% or more.