NUVEEN TAX FREE UNIT TRUST SERIES 873
497, 1996-06-28
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<PAGE>
                                                                          NUVEEN
   
NUVEEN FLORIDA
INSURED UNIT TRUST 230                                                       873
    
 
- --------------------------------------------------------------------------------
 
   
<TABLE>
<S>                                                 <C>
RATED: "AAA"                                        NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN:                           For the tax-sensitive, conservative investor.
5.27 - 5.49%                                        - Tax-Free
ESTIMATED LONG-TERM RETURN:                         - Dependable Income
5.34 - 5.62%                                        - Diversified Portfolios
DATE OF DEPOSIT: June 28, 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    27.4 years
Call Protection Earliest ordinary optional call is 2005
Minimum         $5,000 or 50 units, whichever is lower
Investment
Offering Price  $99.54 to $96.59 depending on the purchase amount
Cusip           6706H4 703 monthly payment plan
Numbers         6706H4 711 quarterly payment plan
                6706H4 729 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)
2019-20                                            14.3%
2021-22                                            28.5%
2023-24                                            14.3%
2025+                                              42.9%
The earliest ordinary optional call date is 2005
 
YIELD COMPARISON AS OF 06/27/96*
  (Description of Yield Comparison Chart)
 
Nuveen UIT
     Pre-Tax                                       8.23%
     Tax Equivalent Yield                          5.27%
 
Treasury Bonds
     Pre-Tax
     Tax Equivalent Yield                          7.00%
 
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, Department of Transportation,      2005 at 101  AAA   Aaa
              Right-of-Way Acquisition and Bridge Construction Bonds, Series 1995, 5.875%
              Due 7/1/24. (General Obligation Bonds.)
     500,000  State of Florida, Department of Transportation, Turnpike Revenue Bonds,     2005 at 101  AAA   Aaa
              Series 1995A, 5.625% Due 7/1/25.
     500,000  Dade County, Florida, Aviation Revenue Bonds, Series 1996B, 5.60% Due       2006 at 102  AAA   Aaa
              10/1/26.
     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  Reedy Creek Improvement District (Florida), (Located in Orange and Osceola  2005 at 101  AAA   Aaa
              Counties), Ad Valorem Tax Bonds, Series 1995C, 5.00% Due 6/1/19. (General
              Obligation Bonds.)
     500,000  St. Johns County, Florida, Water and Sewer Revenue and Refunding Bonds,     2006 at 102  AAA   Aaa
              Series 1996, 5.50% Due 6/1/26.
     500,000  Commonwealth of Puerto Rico, Public Improvement Bonds of 1995 (General      2005 at 101  AAA   Aaa
              Obligation Bonds.), 5.375% Due 7/1/22. (Original issue discount bonds           1/2
              delivered on or about May 4, 1995 at a price of 93.916% 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 06/27/96.
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           $     99.54     4.90 %      5.27%   5.34%   5.30%   5.38%   5.32%   5.40 %
 500 / $50,000               99.38     4.75        5.28    5.35    5.31    5.39    5.33    5.41
 1,000 / $100,000            99.12     4.50        5.29    5.37    5.33    5.41    5.35    5.43
 2,500 / $250,000            98.86     4.25        5.31    5.39    5.34    5.43    5.36    5.45
 5,000 / $500,000            98.09     3.50        5.35    5.45    5.38    5.49    5.40    5.51
 10,000 / $1,000,000         97.59     3.00        5.38    5.49    5.41    5.53    5.43    5.55
 25,000 / $2,500,000         97.09     2.50        5.41    5.52    5.44    5.56    5.46    5.58
 50,000 / $5,000,000         96.59     2.00        5.43    5.56    5.47    5.60    5.49    5.62
</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>
         5.27  % 7.32%   7.64%   8.23%      8.73 %
         5.28    7.33    7.65    8.25       8.74
         5.29    7.35    7.67    8.27       8.76
         5.31    7.38    7.70    8.30       8.79
         5.35    7.43    7.75    8.36       8.86
         5.38    7.47    7.80    8.41       8.91
         5.41    7.51    7.84    8.45       8.96
         5.43    7.54    7.87    8.48       8.99
</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
08/01/96.
 
<TABLE>
<CAPTION>
                                                 Annual
                    First Payment   Payment      Income
 Payment Plan           Date       (per unit)  (per unit)
 <S>                <C>            <C>         <C>         <C>
 Initial partial
  payment (all
  plans)                 8/15/96   $   .4808
 Monthly plan            9/15/96       .4371   $ 5.2480
 Quarterly plan         11/15/96      1.3194
                         2/15/97      1.3194     5.2800
 Semi-annual plan       11/15/96      1.3239
                         5/15/97      2.6478     5.2990
 EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
 $10,000       DIVIDED  BY 99.61 =   100.391
 investment       offering price     # of units
 (as of           and accrued        purchased
 06/27/96)        interest
 100.391      X   $5.2480        =   $526.85
 # of units       annual income      annual income
 purchased        per unit
                  (monthly plan)
</TABLE>
<PAGE>
                                                                          NUVEEN
   
NUVEEN NEW YORK
INSURED UNIT TRUST 253                                                       873
    
 
- --------------------------------------------------------------------------------
 
   
<TABLE>
<S>                                                 <C>
RATED: "AAA"                                        NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN:                           For the tax-sensitive, conservative investor.
5.32 - 5.53%                                        - Double Tax-Free
ESTIMATED LONG-TERM RETURN:                         - Dependable Income
5.38 - 5.66%                                        - Diversified Portfolios
DATE OF DEPOSIT: June 28, 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    24.1 years
Call Protection Earliest ordinary optional call is 2004
Minimum         $5,000 or 50 units, whichever is lower
Investment
Offering Price  $101.44 to $98.44 depending on the purchase amount
Cusip           67102K 101 monthly payment plan
Numbers         67102K 119 quarterly payment plan
                67102K 127 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 New York
</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)
2011-14                                            14.2%
2015-18                                            28.6%
2019-22                                            11.4%
2023-26                                            31.5%
2027+                                              14.3%
The earliest ordinary optional call date is 2004
 
YIELD COMPARISON AS OF 06/27/96*
  (Description of Yield Comparison Chart)
 
Nuveen UIT
     Pre-Tax                                       8.94%
     Tax Equivalent Yield                          5.32%
 
Treasury Bonds
     Pre-Tax                                       7.54%
     Tax Equivalent Yield                          7.00%
 
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S>                          <C>
     Yield                   7.94%
</TABLE>
 
 *COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
  GRADE LONG CORPORATE BOND INDEX. ASSUMES 40.5% FEDERAL AND STATE INCOME TAX
  RATE AND A 7.125% 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 NEW YORK 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  The Port Authority of New York and New Jersey, Consolidated Bonds, One      2005 at 101  AAA   Aaa
              Hundredth Series, 5.75% Due 6/15/30.
     500,000  State of New York, General Obligation Bonds, Environmental Quality 1986     2006 at 101  AAA   Aaa
              Bonds, 5.00% Due 1/15/12.
     500,000  Dormitory Authority of the State of New York, Mount Sinai School of         2004 at 102  AAA   Aaa
              Medicine, Insured Revenue Bonds, Series 1994A, 5.00% Due 7/1/16.
     500,000  New York Local Government Assistance Corporation (New York), Series 1995A   2005 at 102  AAA   Aaa
              Bonds, 6.00% Due 4/1/24.
     500,000  New York State Medical Care Facilities Finance Agency, Mental Health        2005 at 102  AAA   Aaa
              Services Facilities Improvement Revenue Bonds, 1995 Series A, 6.00% Due
              2/15/25. (General Obligation Bonds.)
     400,000  City of New Rochelle, Westchester County, New York, General Obligations,    2004 at 102  AAA   Aaa
              Public Improvement Bonds, 1994 Series B, 6.15% Due 8/15/19.
     500,000  The City of New York (New York), General Obligation Bonds, Fiscal 1996      2006 at 101  AAA   Aaa
              Series F, 5.75% Due 2/1/15. (Original issue discount bonds delivered on or      1/2
              about January 9, 1996 at a price of 94.258% of principal amount.)
     100,000  New York City (New York), Municipal Water Finance Authority, Water and      2004 at 101  AAA   Aaa
              Sewer System Revenue Bonds, Fixed Rate Fiscal 1994 Series F, 5.50% Due          1/2
              6/15/23.
 ----------------------------------------------------------------------------------------------------------------
 $ 3,500,000  TOTAL            8 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 06/27/96.
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           $    101.44     4.90 %      5.32%   5.38%   5.35%   5.41%   5.37%   5.43 %
 500 / $50,000              101.28     4.75        5.33    5.39    5.36    5.42    5.38    5.44
 1,000 / $100,000           101.02     4.50        5.34    5.41    5.37    5.44    5.39    5.46
 2,500 / $250,000           100.75     4.25        5.36    5.43    5.39    5.46    5.41    5.48
 5,000 / $500,000            99.97     3.50        5.40    5.49    5.43    5.52    5.45    5.54
 10,000 / $1,000,000         99.45     3.00        5.43    5.53    5.46    5.56    5.48    5.58
 25,000 / $2,500,000         98.94     2.50        5.45    5.57    5.49    5.60    5.51    5.62
 50,000 / $5,000,000         98.44     2.00        5.48    5.61    5.51    5.64    5.53    5.66
</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      33.0%   36.0%   40.5%      44.0%
 <C>             <S>     <C>     <C>     <C>       <C>
         5.32  % 7.94%   8.31%   8.94%      9.50 %
         5.33    7.96    8.33    8.96       9.52
         5.34    7.97    8.34    8.97       9.54
         5.36    8.00    8.38    9.01       9.57
         5.40    8.06    8.44    9.08       9.64
         5.43    8.10    8.48    9.13       9.70
         5.45    8.13    8.52    9.16       9.73
         5.48    8.18    8.56    9.21       9.79
</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
08/01/96.
 
<TABLE>
<CAPTION>
                                                 Annual
                    First Payment   Payment      Income
 Payment Plan           Date       (per unit)  (per unit)
 <S>                <C>            <C>         <C>         <C>
 Initial partial
  payment (all
  plans)                 8/15/96   $   .4943
 Monthly plan            9/15/96       .4494   $ 5.3961
 Quarterly plan         11/15/96      1.3563
                         2/15/97      1.3563     5.4281
 Semi-annual plan       11/15/96      1.3617
                         5/15/97      2.7234     5.4471
 EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
 $10,000       DIVIDED  BY 101.51 =  98.512
 investment       offering price     # of units
 (as of           and accrued        purchased
 06/27/96)        interest
 98.512       X   $5.3961        =   $531.58
 # of units       annual income      annual income
 purchased        per unit
                  (monthly plan)
</TABLE>
<PAGE>
                                                                          NUVEEN
   
NUVEEN PENNSYLVANIA
INSURED UNIT TRUST 213                                                       873
    
 
- --------------------------------------------------------------------------------
 
   
<TABLE>
<S>                                                 <C>
RATED: "AAA"                                        NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN:                           For the tax-sensitive, conservative investor.
5.32 - 5.54%                                        - Double Tax-Free
ESTIMATED LONG-TERM RETURN:                         - Dependable Income
5.43 - 5.70%                                        - Diversified Portfolios
DATE OF DEPOSIT: June 28, 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    24.5 years
Call Protection Earliest ordinary optional call is 2005
Minimum         $5,000 or 50 units, whichever is lower
Investment
Offering Price  $99.66 to $96.71 depending on the purchase amount
Cusip           6706H8 613 monthly payment plan
Numbers         6706H8 621 quarterly payment plan
                6706H8 639 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 Pennsylvania
</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)
2013-16                                            17.2%
2017-20                                            25.7%
2021-24                                            42.8%
2025+                                              14.3%
The earliest ordinary optional call date is 2005
 
YIELD COMPARISON AS OF 06/27/96*
  (Description of Yield Comparison Chart)
 
Nuveen UIT
     Pre-Tax                                       8.58%
     Tax Equivalent Yield                          5.32%
 
Treasury Bonds
     Pre-Tax                                       7.20%
     Tax Equivalent Yield                          7.00%
 
Corporate Bonds
     Yield                   7.94%
</TABLE>
 
<PAGE>
 *COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
  GRADE LONG CORPORATE BOND INDEX. ASSUMES 38.0% FEDERAL AND STATE INCOME TAX
  RATE AND A 2.8% 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 PENNSYLVANIA 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  Pennsylvania Higher Educational Facilities Authority (Commonwealth of Penn-  2006 at 100 AAA   Aaa
              sylvania), Revenue Bonds, State System of Higher Education, Series N,
              5.875% Due 6/15/21.
     500,000  Pennsylvania Higher Educational Facilities Authority (Commonwealth of Penn-  2006 at 100 AAA   Aaa
              sylvania), Philadelphia College of Pharmacy and Science Revenue Bonds,
              Series of 1995, 5.40% Due 11/1/15.
     500,000  Allegheny County Hospital Development Authority (Allegheny County,          2006 at 102  AAA   Aaa
              Pennsylvania), Hospital Revenue Bonds, Series A of 1996 (South Hills Health
              System), 5.875% Due 5/1/26.
     500,000  The Cambria County Industrial Development Authority (Pennsylvania),         2005 at 102  AAA   Aaa
              Pollution Control Revenue Refunding Bonds, 1995 Series A (Pennsylvania
              Electric Company Project), 5.80% Due 11/1/20.
     400,000  Delaware County Authority (Commonwealth of Pennsylvania), Hospital Revenue  2005 at 102  AAA   Aaa
              Bonds, Series of 1995 (Delaware County Memorial Hospital), 5.50% Due
              8/15/19. (Original issue discount bonds delivered on or about July 27, 1995
              at a price of 94.645% of principal amount.)
     500,000  Northampton County Industrial Development Authority (Pennsylvania),         2005 at 102  AAA   Aaa
              Pollution Control Revenue Refunding Bonds, 1995 Series A (Metropolitan
              Edison Company Project), 6.10% Due 7/15/21.
     100,000  The Municipal Authority of the Township of Robinson (Pennsylvania), Water   No Optional  AAA   Aaa
              and Sewer System Revenue Refunding Bonds, Series A of 1995, 0.00% Due           Call
              5/15/13. (Original issue discount bonds delivered on or about November 9,
              1995 at a price of 36.421% of principal amount.)
     500,000  Commonwealth of Puerto Rico, Public Improvement Bonds of 1995 (General      2005 at 101  AAA   Aaa
              Obligation Bonds.), 5.375% Due 7/1/22. (Original issue discount bonds           1/2
              delivered on or about May 4, 1995 at a price of 93.916% of principal
              amount.)
 ----------------------------------------------------------------------------------------------------------------
 $ 3,500,000  TOTAL            8 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 06/27/96.
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           $     99.66     4.90 %      5.32%   5.43%   5.35%   5.45%   5.37%   5.47 %
 500 / $50,000               99.51     4.75        5.33    5.43    5.36    5.46    5.38    5.48
 1,000 / $100,000            99.25     4.50        5.34    5.46    5.37    5.49    5.39    5.51
 2,500 / $250,000            98.99     4.25        5.36    5.47    5.39    5.50    5.41    5.52
 5,000 / $500,000            98.22     3.50        5.40    5.54    5.43    5.57    5.45    5.59
 10,000 / $1,000,000         97.71     3.00        5.43    5.58    5.46    5.61    5.48    5.62
 25,000 / $2,500,000         97.21     2.50        5.45    5.61    5.49    5.64    5.51    5.66
 50,000 / $5,000,000         96.71     2.00        5.48    5.65    5.52    5.68    5.54    5.70
</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      30.0%   33.0%   38.0%      41.5%
 <C>             <S>     <C>     <C>     <C>       <C>
         5.32  % 7.60%   7.94%   8.58%      9.09 %
         5.33    7.61    7.96    8.60       9.11
         5.34    7.63    7.97    8.61       9.13
         5.36    7.66    8.00    8.65       9.16
         5.40    7.71    8.06    8.71       9.23
         5.43    7.76    8.10    8.76       9.28
         5.45    7.79    8.13    8.79       9.32
         5.48    7.83    8.18    8.84       9.37
</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
08/01/96.
 
<TABLE>
<CAPTION>
                                                 Annual
                    First Payment   Payment      Income
 Payment Plan           Date       (per unit)  (per unit)
 <S>                <C>            <C>         <C>         <C>
 Initial partial
  payment (all
  plans)                 8/15/96   $   .4857
 Monthly plan            9/15/96       .4416   $ 5.3022
 Quarterly plan         11/15/96      1.3329
                         2/15/97      1.3329     5.3342
 Semi-annual plan       11/15/96      1.3374
                         5/15/97      2.6748     5.3532
 EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
 $10,000       DIVIDED  BY 99.73 =   100.270
 investment       offering price     # of units
 (as of           and accrued        purchased
 06/27/96)        interest
 100.270      X   $5.3022        =   $531.65
 # of units       annual income      annual income
 purchased        per unit
                  (monthly plan)
</TABLE>


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