<PAGE>
NUVEEN
NUVEEN NATIONAL
INSURED UNIT TRUST 321 870
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.56 - 5.79% - Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.63 - 5.91% - Diversified Portfolios
DATE OF DEPOSIT: June 14, 1996 - Top-Rated Municipal Bonds
</TABLE>
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FDIC OR
ANY OTHER FEDERAL AGENCY AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL.
- --------------------------------------------------------------------------------
QUICK FACTS ABOUT THIS UNIT TRUST
<TABLE>
<S> <C>
Tax Status Income is exempt from federal income tax but may
be subject to state and local tax. Capital gains
are taxable.
Total Principal $10,000,000 in 100,000 units
Average Life 26.7 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.97 to $97.01 depending on the purchase amount
Cusip 6710A4 827 monthly payment plan
Numbers 6710A4 835 quarterly payment plan
6710A4 843 semi-annual payment plan
Insurance Individual bonds (not units) are fully insured by
MBIA Insurance Corporation, which guarantees
timely payment of interest and principal.
Registration Registered in all states
</TABLE>
<TABLE>
<S> <C>
Payment Investors may choose to receive monthly, quarterly
Plans or semi-annual interest payments.
Bond Calls Most municipal bonds are subject to optional bond
calls. Bonds are usually called at a premium price
and generally not below par value.
Sales Charge The sales charge is a one-time expense included in
the Public Offering Price.
Letter Investors may use a Letter of Intent to get
of Intent reduced sales charges on purchases made over a
(LOI) 13-month period (and to take advantage of dollar
cost averaging). Minimum LOI investment $50,000.
Redemptions Units can be redeemed on any business day at no
charge. Units are redeemed at their current market
value.
Reinvestment Interest income and returned principal can be
reinvested with no sales charge into Nuveen tax-
free mutual or money market funds. For more
information obtain a prospectus.
</TABLE>
- --------------------------------------------------------------------------------
PORTFOLIO INCOME DIVERSIFICATION
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Colorado 7.6 % Florida 9.7 % Illinois 12.4 %
Indiana 9.8 Louisiana 9.5 Massachusetts 0.5
Michigan 10.1 Nevada 9.8 New York 10.1
Pennsylvania 20.5
</TABLE>
<TABLE>
<S> <C>
MATURITY DATES (Descrtiption of Chart)
2018-20 19.8%
2021-23 41.7%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2024+ 38.5%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 06/13/96*
(Descrition of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.69%
Tax Equivalent Yield 5.56%
Treasury Bonds
Pre-Tax 7.51%
Tax Equivalent Yield 7.13%
Corporate Bonds
Yield 7.94%
</TABLE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 36.0% FEDERAL AND 5.0% STATE INCOME
TAX RATES. TREASURY BONDS ARE SUBJECT TO FEDERAL BUT NOT STATE INCOME TAXES;
CORPORATE BONDS ARE GENERALLY SUBJECT TO BOTH. TREASURY BONDS, UNLIKE
MUNICIPAL BONDS, ARE GUARANTEED BY THE U.S. GOVERNMENT. THE LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX IS CALCULATED AS OF 5/31/96.
CALL 1.800.257.8787 FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION
INCLUDING CHARGES AND EXPENSES.
READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
<PAGE>
- --------------------------------------------------------------------------------
BONDS THIS NATIONAL INSURED UNIT TRUST CONTAINS
<TABLE>
<CAPTION>
RATINGS
PRINCIPAL EARLIEST CALL ----------
AMOUNT BOND ISSUE DATE AND PRICE S&P MOODY'S
<C> <S> <C> <C><C>
----------------------------------------------------------------------------------------------------------------
$ 800,000 City and County of Denver, Colorado, Airport System Revenue Bonds, Series AAA Aaa
1996A, 5.50% Due 11/15/25. (Original issue discount bonds delivered on or
about March 28, 1996 at a price of 93.497% of principal amount.) 2006 at 101
1,000,000 Dade County, Florida, Aviation Revenue Bonds, Series 1996B, 5.60% Due AAA Aaa
10/1/26. 2006 at 102
1,170,000 Illinois Health Facilities Authority, Revenue Bonds, Series 1994A (The AAA Aaa
University of Chicago Hospitals Project), 6.125% Due 8/15/21. 2004 at 102
1,000,000 Indiana Health Facility Financing Authority, Hospital Revenue Refunding and AAA Aaa
Improvement Bonds, Series 1995 (Community Hospitals Projects), 5.70% Due
5/15/22. 2006 at 102
1,000,000 Ernest N. Morial-New Orleans (Louisiana), Exhibition Hall Authority, AAA Aaa
Special Tax Bonds, Series 1996-C, 5.50% Due 7/15/18. 2006 at 101
50,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, AAA Aaa
Newton-Wellesley Hospital Issue, Series E, 6.00% Due 7/1/25. 2005 at 102
1,000,000 Kenowa Hills Public Schools, Counties of Kent and Ottawa, State of AAA Aaa
Michigan, 1996 School Building and Site Bonds, 5.875% Due 5/1/21. (General
Obligation Bonds.) (When issued.) 2006 at 100
1,000,000 Airport Authority of Washoe County, Reno, Nevada, Airport Revenue Bonds, AAA Aaa
Series 1996A, 5.70% Due 7/1/26. 2006 at 102
1,000,000 New York City (New York), Municipal Water Finance Authority, Water and AAA Aaa
Sewer System Revenue Bonds, Fiscal 1996 Series B, 5.875% Due 6/15/26.
(Original issue discount bonds delivered on or about May 16, 1996 at a
price of 93.908% of principal amount.) 2006 at 101
980,000 Cambria County Industrial Development Authority (Pennsylvania), Pollution AAA Aaa
Control Revenue Refunding Bonds, 1995 Series A (Pennsylvania Electric
Company Project), 5.80% Due 11/1/20. 2005 at 102
1,000,000 Northampton County Industrial Development Authority (Pennsylvania), AAA Aaa
Pollution Control Revenue Refunding Bonds, 1995 Series A (Metropolitan
Edison Company Project), 6.10% Due 7/15/21. 2005 at 102
----------------------------------------------------------------------------------------------------------------
$10,000,000 TOTAL 11 BONDS FROM 10 STATES
</TABLE>
- --------------------------------------------------------------------------------
HOW TO DETERMINE YOUR INCOME AND YIELD
HOW TO CALCULATE YOUR RETURN
<TABLE>
<S> <C>
The estimated current return is the net income the sales charge, and returns are as of 06/13/96.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.08. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 99.97 4.90 % 5.56% 5.63% 5.59% 5.66% 5.61% 5.68 %
500 / $50,000 99.81 4.75 5.57 5.63 5.60 5.67 5.62 5.69
1,000 / $100,000 99.55 4.50 5.59 5.66 5.62 5.70 5.64 5.72
2,500 / $250,000 99.29 4.25 5.60 5.67 5.63 5.71 5.65 5.73
5,000 / $500,000 98.52 3.50 5.64 5.73 5.68 5.77 5.70 5.79
10,000 / $1,000,000 98.01 3.00 5.67 5.77 5.71 5.81 5.73 5.83
25,000 / $2,500,000 97.51 2.50 5.70 5.81 5.74 5.85 5.76 5.87
50,000 / $5,000,000 97.01 2.00 5.73 5.85 5.77 5.89 5.79 5.91
</TABLE>
HOW TO DETERMINE YOUR
TAXABLE EQUIVALENT YIELD
The table shows the approximate yield an investor must get from a taxable
investment to match the estimated current return from this Unit Trust.
<TABLE>
<CAPTION>
Taxable Equivalent Yield (by
UNIT TRUST tax bracket)
RETURN 28.0% 31.0% 36.0% 39.6%
<C> <S> <C> <C> <C> <C>
5.56 % 7.72% 8.06% 8.69% 9.21%
5.57 7.74 8.07 8.70 9.22
5.59 7.76 8.10 8.73 9.25
5.60 7.78 8.12 8.75 9.27
5.64 7.83 8.17 8.81 9.34
5.67 7.88 8.22 8.86 9.39
5.70 7.92 8.26 8.91 9.44
5.73 7.96 8.30 8.95 9.49
</TABLE>
JOHN NUVEEN & CO. INCORPORATED
333 WEST WACKER DRIVE, CHICAGO, IL 60606
HOW TO CALCULATE YOUR INCOME
The table shows expected interest payments for monthly, quarterly and
semi-annual plans. Payments will remain relatively constant as long as the Unit
Trust's size, composition and expenses remain the same. The first record date is
07/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 7/15/96 $ .2624
Monthly plan 8/15/96 .4632 $ 5.5611
Quarterly plan 8/15/96 .4659
11/15/96 1.3977 5.5931
Semi-annual plan 11/15/96 1.8696
5/15/97 2.8044 5.6121
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.05 = 99.950
investment offering price # of units
(as of and accrued purchased
06/13/96) interest
99.950 X $5.5611 = $555.83
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN FLORIDA
INSURED UNIT TRUST 229 870
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.38 - 5.59% - Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.50 - 5.77% - Diversified Portfolios
DATE OF DEPOSIT: June 14, 1996 - Top-Rated Municipal Bonds
</TABLE>
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FDIC OR
ANY OTHER FEDERAL AGENCY AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL.
- --------------------------------------------------------------------------------
QUICK FACTS ABOUT THIS UNIT TRUST
<TABLE>
<S> <C>
Tax Status Income is exempt from federal income tax. Capital
gains are taxable.
Total Principal $3,500,000 in 35,000 units
Average Life 26.1 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $97.37 to $94.49 depending on the purchase amount
Cusip 6706H4 679 monthly payment plan
Numbers 6706H4 687 quarterly payment plan
6706H4 695 semi-annual payment plan
Insurance Individual bonds (not units) are fully insured by
MBIA Insurance Corporation, which guarantees
timely payment of interest and principal.
Registration Registered in Florida
</TABLE>
<TABLE>
<S> <C>
Payment Investors may choose to receive monthly, quarterly
Plans or semi-annual interest payments.
Bond Calls Most municipal bonds are subject to optional bond
calls. Bonds are usually called at a premium price
and generally not below par value.
Sales Charge The sales charge is a one-time expense included in
the Public Offering Price.
Letter Investors may use a Letter of Intent to get
of Intent reduced sales charges on purchases made over a
(LOI) 13-month period (and to take advantage of dollar
cost averaging). Minimum LOI investment $50,000.
Redemptions Units can be redeemed on any business day at no
charge. Units are redeemed at their current market
value.
Reinvestment Interest income and returned principal can be
reinvested with no sales charge into Nuveen tax-
free mutual or money market funds. For more
information obtain a prospectus.
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
MATURITY DATES (Description of Chart)
2017-19 14.3%
2020-22 42.8%
2023+ 42.9%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 06/13/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.41%
Tax Equivalent Yield 5.38%
Treasury Bonds
Pre-Tax
Tax Equivalent Yield 7.13%
Corporate Bonds
Yield 7.94%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 36.0% FEDERAL INCOME TAX RATE.
TREASURY BONDS ARE SUBJECT TO FEDERAL BUT NOT STATE INCOME TAXES; CORPORATE
BONDS ARE GENERALLY SUBJECT TO BOTH. TREASURY BONDS, UNLIKE MUNICIPAL BONDS,
ARE GUARANTEED BY THE U.S. GOVERNMENT. THE LEHMAN BROTHERS INVESTMENT GRADE
LONG CORPORATE BOND INDEX IS CALCULATED AS OF 5/31/96.
CALL 1.800.257.8787 FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION
INCLUDING CHARGES AND EXPENSES.
READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
<PAGE>
- --------------------------------------------------------------------------------
BONDS THIS FLORIDA INSURED UNIT TRUST CONTAINS
<TABLE>
<CAPTION>
RATINGS
PRINCIPAL EARLIEST CALL ----------
AMOUNT BOND ISSUE DATE AND PRICE S&P MOODY'S
<C> <S> <C> <C><C>
----------------------------------------------------------------------------------------------------------------
$ 500,000 State of Florida, Full Faith and Credit, State Board of Education, Public 2005 at 101 AAA Aaa
Education Capital Outlay Refunding Bonds, 1995 Series E, 5.00% Due 6/1/20.
(General Obligation Bonds.)
500,000 City of Atlantic Beach, Florida, Utilities System Revenue Bonds, Series 2006 at 102 AAA Aaa
1996, 5.50% Due 10/1/25.
500,000 Correctional Privatization Commission (Florida), Certificates of 2005 at 102 AAA Aaa
Participation (South Bay Correctional Facility Project), Series 1995, 5.00%
Due 8/1/17.
500,000 Dade County, Florida, Aviation Revenue Bonds, Series 1995C, 5.75% Due 2005 at 102 AAA Aaa
10/1/25.
500,000 The School Board of Escambia County, Florida, Certificates of 2006 at 102 AAA Aaa
Participation, Series 1996-2, 5.50% Due 2/1/22. (Original issue discount
bonds delivered on or about April 25, 1996 at a price of 94.25% of
principal amount.)
500,000 Hillsborough County Aviation Authority, Florida, Tampa International 2006 at 102 AAA Aaa
Airport Revenue Bonds, 1996 Series B, 5.875% Due 10/1/23. (When issued.)
500,000 Lee County, Florida, Transportation Facilities Revenue Bonds, Series 1995, 2005 at 102 AAA Aaa
5.75% Due 10/1/22. (Original issue discount bonds delivered on or about May
16, 1995 at a price of 94.726% of principal amount.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS
</TABLE>
- --------------------------------------------------------------------------------
HOW TO DETERMINE YOUR INCOME AND YIELD
HOW TO CALCULATE YOUR RETURN
<TABLE>
<S> <C>
The estimated current return is the net income the sales charge, and returns are as of 06/13/96.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.07. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 97.37 4.90 % 5.38% 5.50% 5.41% 5.52% 5.43% 5.54 %
500 / $50,000 97.22 4.75 5.38 5.50 5.42 5.53 5.44 5.55
1,000 / $100,000 96.96 4.50 5.40 5.53 5.43 5.56 5.45 5.58
2,500 / $250,000 96.71 4.25 5.41 5.54 5.45 5.57 5.47 5.59
5,000 / $500,000 95.96 3.50 5.45 5.60 5.49 5.63 5.51 5.65
10,000 / $1,000,000 95.46 3.00 5.48 5.64 5.52 5.67 5.54 5.69
25,000 / $2,500,000 94.97 2.50 5.51 5.68 5.55 5.71 5.57 5.73
50,000 / $5,000,000 94.49 2.00 5.54 5.72 5.57 5.75 5.59 5.77
</TABLE>
HOW TO DETERMINE YOUR
TAXABLE EQUIVALENT YIELD
The table shows the approximate yield an investor must get from a taxable
investment to match the estimated current return from this Unit Trust.
<TABLE>
<CAPTION>
Taxable Equivalent Yield (by tax
UNIT TRUST bracket)
RETURN 28.0% 31.0% 36.0% 39.6%
<C> <S> <C> <C> <C> <C>
5.38 % 7.47% 7.80% 8.41% 8.91 %
5.38 7.47 7.80 8.41 8.91
5.40 7.50 7.83 8.44 8.94
5.41 7.51 7.84 8.45 8.96
5.45 7.57 7.90 8.52 9.02
5.48 7.61 7.94 8.56 9.07
5.51 7.65 7.99 8.61 9.12
5.54 7.69 8.03 8.66 9.17
</TABLE>
JOHN NUVEEN & CO. INCORPORATED
333 WEST WACKER DRIVE, CHICAGO, IL 60606
HOW TO CALCULATE YOUR INCOME
The table shows expected interest payments for monthly, quarterly and
semi-annual plans. Payments will remain relatively constant as long as the Unit
Trust's size, composition and expenses remain the same. The first record date is
07/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 7/15/96 $ .2471
Monthly plan 8/15/96 .4362 $ 5.2344
Quarterly plan 8/15/96 .4386
11/15/96 1.3158 5.2664
Semi-annual plan 11/15/96 1.7616
5/15/97 2.6424 5.2854
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 97.44 = 102.627
investment offering price # of units
(as of and accrued purchased
06/13/96) interest
102.627 X $5.2344 = $537.19
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN MASSACHUSETTS
INSURED UNIT TRUST 137 870
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.45 - 5.67% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.56 - 5.84% - Diversified Portfolios
DATE OF DEPOSIT: June 14, 1996 - Top-Rated Municipal Bonds
</TABLE>
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FDIC OR
ANY OTHER FEDERAL AGENCY AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL.
- --------------------------------------------------------------------------------
QUICK FACTS ABOUT THIS UNIT TRUST
<TABLE>
<S> <C>
Tax Status Income is exempt from federal and state income
taxes. Capital gains are taxable.
Total Principal $3,500,000 in 35,000 units
Average Life 27.3 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $98.35 to $95.44 depending on the purchase amount
Cusip 670947 704 monthly payment plan
Numbers 670947 712 quarterly payment plan
670947 720 semi-annual payment plan
Insurance Individual bonds (not units) are fully insured by
MBIA Insurance Corporation, which guarantees
timely payment of interest and principal.
Registration Registered in Massachusetts
</TABLE>
<TABLE>
<S> <C>
Payment Investors may choose to receive monthly, quarterly
Plans or semi-annual interest payments.
Bond Calls Most municipal bonds are subject to optional bond
calls. Bonds are usually called at a premium price
and generally not below par value.
Sales Charge The sales charge is a one-time expense included in
the Public Offering Price.
Letter Investors may use a Letter of Intent to get
of Intent reduced sales charges on purchases made over a
(LOI) 13-month period (and to take advantage of dollar
cost averaging). Minimum LOI investment $50,000.
Redemptions Units can be redeemed on any business day at no
charge. Units are redeemed at their current market
value.
Reinvestment Interest income and returned principal can be
reinvested with no sales charge into Nuveen tax-
free mutual or money market funds. For more
information obtain a prospectus.
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
MATURITY DATES (Description of Chart)
2015-19 14.3%
2020-24 42.8%
2025+ 42.9%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 06/13/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 9.65%
Tax Equivalent Yield 5.45%
Treasury Bonds
Pre-Tax 8.10%
Tax Equivalent Yield 7.13%
Corporate Bonds
Yield 7.94%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 43.5% FEDERAL AND STATE INCOME TAX
RATE AND A 12.0% STATE INCOME TAX RATE. TREASURY BONDS ARE SUBJECT TO FEDERAL
BUT NOT STATE INCOME TAXES; CORPORATE BONDS ARE GENERALLY SUBJECT TO BOTH.
TREASURY BONDS, UNLIKE MUNICIPAL BONDS, ARE GUARANTEED BY THE U.S. GOVERNMENT.
THE LEHMAN BROTHERS INVESTMENT GRADE LONG CORPORATE BOND INDEX IS CALCULATED
AS OF 5/31/96.
CALL 1.800.257.8787 FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION
INCLUDING CHARGES AND EXPENSES.
READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
<PAGE>
- --------------------------------------------------------------------------------
BONDS THIS MASSACHUSETTS INSURED UNIT TRUST CONTAINS
<TABLE>
<CAPTION>
RATINGS
PRINCIPAL EARLIEST CALL ----------
AMOUNT BOND ISSUE DATE AND PRICE S&P MOODY'S
<C> <S> <C> <C><C>
----------------------------------------------------------------------------------------------------------------
$ 500,000 Massachusetts Bay Transportation Authority, General Transportation System 2005 at 101 AAA Aaa
Bonds, 1995 Series B, 5.375% Due 3/1/25. (Original issue discount bonds
delivered on or about October 3, 1995 at a price of 92.994% of principal
amount.)(General Obligation Bonds.)
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2004 at 102 AAA Aaa
New England Medical Center Hospitals Issue, Series G-1, 5.375% Due 7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2005 at 102 AAA Aaa
Newton-Wellesley Hospital Issue, Series E, 6.00% Due 7/1/25.
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2004 at 102 AAA Aaa
Smith College Issue, Series D, 5.75% Due 7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2006 at 102 AAA Aaa
Suffolk University Issue, Series C, 5.75% Due 7/1/26.
500,000 Massachusetts Water Resources Authority, General Revenue Bonds, 1994 Series 2004 at 101 AAA Aaa
A, 6.00% Due 8/1/24. 1/2
500,000 Quabbin Regional School District, Massachusetts, General Obligation Bonds 2006 at 102 AAA Aaa
(Junior-Senior High School Project), 5.00% Due 6/15/15.
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS
</TABLE>
- --------------------------------------------------------------------------------
HOW TO DETERMINE YOUR INCOME AND YIELD
HOW TO CALCULATE YOUR RETURN
<TABLE>
<S> <C>
The estimated current return is the net income the sales charge, and returns are as of 06/13/96.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.07. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 98.35 4.90 % 5.45% 5.56% 5.48% 5.60% 5.50% 5.62 %
500 / $50,000 98.19 4.75 5.46 5.57 5.49 5.61 5.51 5.63
1,000 / $100,000 97.94 4.50 5.47 5.59 5.51 5.63 5.53 5.65
2,500 / $250,000 97.68 4.25 5.49 5.61 5.52 5.65 5.54 5.67
5,000 / $500,000 96.92 3.50 5.53 5.67 5.56 5.71 5.58 5.73
10,000 / $1,000,000 96.42 3.00 5.56 5.71 5.59 5.75 5.61 5.77
25,000 / $2,500,000 95.93 2.50 5.59 5.74 5.62 5.78 5.64 5.80
50,000 / $5,000,000 95.44 2.00 5.62 5.78 5.65 5.82 5.67 5.84
</TABLE>
HOW TO DETERMINE YOUR
TAXABLE EQUIVALENT YIELD
The table shows the approximate yield an investor must get from a taxable
investment to match the estimated current return from this Unit Trust.
<TABLE>
<CAPTION>
Taxable Equivalent Yield (by tax
UNIT TRUST bracket)
RETURN 36.5% 39.5% 43.5% 47.0%
<C> <S> <C> <C> <C> <C>
5.45 % 8.58% 9.01% 9.65% 10.28 %
5.46 8.60 9.02 9.66 10.30
5.47 8.61 9.04 9.68 10.32
5.49 8.65 9.07 9.72 10.36
5.53 8.71 9.14 9.79 10.43
5.56 8.76 9.19 9.84 10.49
5.59 8.80 9.24 9.89 10.55
5.62 8.85 9.29 9.95 10.60
</TABLE>
JOHN NUVEEN & CO. INCORPORATED
333 WEST WACKER DRIVE, CHICAGO, IL 60606
HOW TO CALCULATE YOUR INCOME
The table shows expected interest payments for monthly, quarterly and
semi-annual plans. Payments will remain relatively constant as long as the Unit
Trust's size, composition and expenses remain the same. The first record date is
07/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 7/15/96 $ .2531
Monthly plan 8/15/96 .4467 $ 5.3606
Quarterly plan 8/15/96 .4491
11/15/96 1.3473 5.3926
Semi-annual plan 11/15/96 1.8036
5/15/97 2.7054 5.4116
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 98.42 = 101.605
investment offering price # of units
(as of and accrued purchased
06/13/96) interest
101.605 X $5.3606 = $544.66
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>