<SEC-DOCUMENT>0001193125-13-026208.txt : 20130128
<SEC-HEADER>0001193125-13-026208.hdr.sgml : 20130128
<ACCEPTANCE-DATETIME>20130128164334
ACCESSION NUMBER:		0001193125-13-026208
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130128
DATE AS OF CHANGE:		20130128
EFFECTIVENESS DATE:		20130128

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAMOS GLOBAL TOTAL RETURN FUND
		CENTRAL INDEX KEY:			0001285650
		IRS NUMBER:				203377281
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-174431
		FILM NUMBER:		13552209

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
		BUSINESS PHONE:		6302451046

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
</SEC-HEADER>
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<TYPE>497
<SEQUENCE>1
<FILENAME>d473454d497.htm
<DESCRIPTION>497
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<TITLE>497</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px;padding-bottom:0px; " ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>C<SMALL>ALAMOS<FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">&reg;</SUP></FONT></SMALL> G<SMALL>LOBAL</SMALL> T<SMALL>OTAL</SMALL> R<SMALL>ETURN</SMALL> F<SMALL>UND</SMALL> </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Supplement dated January&nbsp;28, 2013 to the Prospectus and Statement of </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Additional Information each dated February&nbsp;29, 2012, as supplemented July&nbsp;2, 2012, and </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>August&nbsp;31, 2012 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>The following supplements the &#147;Prospectus Summary &#151; Use of Leverage&#148; section beginning on page 7 of the Base Prospectus, the
&#147;Leverage&#148; section beginning on page 30 of the Base Prospectus, and supplements the &#147;Description of Securities&#148; section beginning on page 59 of the Base Prospectus: </I></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On January&nbsp;22, 2013 the Fund diversified the source of its financial leverage by entering into a new credit agreement
(the &#147;SSB Agreement&#148;) with State Street Bank&nbsp;&amp; Trust Company (&#147;SSB&#148;), and revising its existing credit agreement with BNP Paribas Prime Brokerage Inc. (the &#147;BNP Agreement&#148;). Under the terms of the SSB
Agreement, the Fund may borrow up to an initial limit of $30,000,000. Interest is charged on the drawn amount at the rate of Overnight LIBOR (London Inter-bank Offered Rate) plus .80%, payable monthly in arrears. Interest on overdue amounts or
interest on the draw amount paid during an event of default will be charged at Overnight Libor plus 2.8%. The SSB Agreement has a commitment fee of .2% of any undrawn amount if the undrawn amount is more than 75% of the borrowing limit, otherwise
the commitment fee on the undrawn amount is .1%, payable quarterly in arrears. Under the terms of the revised BNP Agreement, BNP Paribas Prime Brokerage International, Ltd. (&#147;BNP&#148;) has replaced BNP Paribas Prime Brokerage Inc. as the
lender. Under the terms of the revised BNP Agreement, the Fund may borrow up to $30,000,000. All other terms of the original BNP Agreement, including interest rates, remain unchanged. The Lending Agreement between BNP Paribas Prime Broker Inc. and
the Fund has also been amended to substitute BNP, but otherwise remains unchanged. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The purpose of borrowings
made under the SSB Agreement will be to reduce borrowings under the BNP Agreement or for investment purposes. Borrowings under the SSB Agreement and the BNP Agreement are secured by assets of the Fund that are held with the Fund&#146;s custodian in
a separate account (the &#147;pledged collateral&#148;). BNP and SSB share an equal claim on the pledged collateral, subject to any adjustment that may be agreed upon between the lenders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>The section on Page 28 of the Base Prospectus captioned &#147;Lending of Portfolio Securities is amended to read as follows:</I> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Lending of Portfolio Securities.</I>&nbsp;&nbsp;&nbsp;&nbsp;In addition to the Lending Agreement with BNP, the Fund may lend portfolio securities through SSB as securities lending agent, or through
another securities lending agent, to registered broker-dealers or other institutional investors deemed by Calamos to be of good standing under agreements which require that the loans be secured continuously by collateral received in cash, cash
equivalents, or U.S.&nbsp;Treasury bills and maintained on a current basis at an amount at least equal to the market value of the securities loaned. The Fund does not use affiliated agents in </FONT></P>


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managing its lending program. The Fund continues to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned as well as the benefit of an increase and the
detriment of any decrease in the market value of the securities loaned and would also receive compensation based on investment of the collateral. The Fund would not, however, have the right to vote any securities having voting rights during the
existence of the loan, but could call the loan in advance of an important vote to be taken among holders of the securities or of the giving or withholding of consent on a material matter affecting the investment. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">As with other extensions of credit, there are risks of delay in recovery or even loss of rights in the collateral
should the borrower of the securities fail financially. At no time would the value of the securities loaned exceed 33<FONT SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">&nbsp;1</SUP></FONT><FONT SIZE="2">/</FONT><FONT
SIZE="1"><SUB STYLE="vertical-align:baseline; position:relative; top:.1ex">3</SUB></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">% of the value of the Fund&#146;s managed assets. See &#147;Description of Securities&#148; for more
information on lending of portfolio securities </FONT></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>The section beginning on page S-10 of the Fund&#146;s Statement of Additional
Information captioned &#147;Lending of Portfolio Securities is amended to read as follows:</I> </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Lending of Portfolio
Securities </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition to the Lending Agreement with BNP, the Fund may lend portfolio securities through SSB as securities
lending agent, or through another securities lending agent, to broker-dealers and banks. Any such loan must be continuously secured by collateral received in cash or cash equivalents maintained on a current basis in an amount at least equal to the
market value of the securities loaned by the Fund. The Fund would continue to receive the equivalent of the interest or dividends paid by the issuer on the securities loaned, and would also receive an additional return that may be in the form of a
fixed fee or a percentage of the collateral. The Fund may pay reasonable fees to persons unaffiliated with the Fund for services in arranging these loans. The Fund would have the right to call the loan and obtain the securities loaned at any time on
notice of not more than five business days. The Fund would not have the right to vote the securities during the existence of the loan but would call the loan to permit voting of the securities, if, in Calamos&#146; judgment, a material event
requiring a shareholder vote would otherwise occur before the loan was repaid. In the event of bankruptcy or other default of the borrower, the Fund could experience both delays in liquidating the loan collateral or recovering the loaned securities
and losses, including (a)&nbsp;possible decline in the value of the collateral or in the value of the securities loaned during the period while the Fund seeks to enforce its rights thereto, (b)&nbsp;possible subnormal levels of income and lack of
access to income during this period, and (c)&nbsp;expenses of enforcing its rights. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Please retain this supplement for
future reference. </B></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>

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