<PAGE>
NUVEEN
NUVEEN NATIONAL
INSURED UNIT TRUST 322 874
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.37 - 5.58% - Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.44 - 5.72% - Diversified Portfolios
DATE OF DEPOSIT: July 2, 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 27.0 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.96 to $97.00 depending on the purchase amount
Cusip 6710A4 850 monthly payment plan
Numbers 6710A4 868 quarterly payment plan
6710A4 876 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>
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PORTFOLIO INCOME DIVERSIFICATION
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
California 21.5 % Louisiana 10.0 % Massachusetts 9.6 %
Michigan 6.3 New York 21.5 Pennsylvania 11.3
Texas 19.8
</TABLE>
<TABLE>
<S> <C>
MATURITY DATES (Descrtiption of Chart)
2014-17 6.8%
2018-21 22.5%
2022-25 40.0%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2026+ 30.7%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 07/01/96*
(Descrition of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.39%
Tax Equivalent Yield 5.37%
Treasury Bonds
Pre-Tax 7.26%
Tax Equivalent Yield 6.90%
Corporate Bonds
Yield 7.79%
</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 6/30/96.
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>
----------------------------------------------------------------------------------------------------------------
$ 1,000,000 California State University, Sacramento Student Union Refunding Revenue AAA Aaa
Bonds, Series C, 6.00% Due 3/1/26. 2005 at 102
1,000,000 Los Angeles County, California, Metropolitan Transportation Authority Sales AAA Aaa
Tax Revenue Bonds, Proposition A-1st Tier-Series A, 6.00% Due 7/1/26. 2006 at 101
1,000,000 Ernest N. Morial-New Orleans (Louisiana), Exhibition Hall Authority, AAA Aaa
Special Tax Bonds, Series 1996-C, 5.60% Due 7/15/25. 2006 at 101
1,000,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, AAA Aaa
New England Medical Center Hospitals Issue, Series G-1, 5.375% Due 7/1/24. 2004 at 102
250,000 Huron Valley School District, Counties of Oakland and Livingston, State of AAA Aaa
Michigan, 1993 Refunding Bonds (General Obligation-Unlimited Tax), 0.00%
Due 5/1/19. (Original issue discount bonds delivered on or about February
9, 1993 at a price of 17.982% of principal amount.) No Optional
Call
675,000 City of Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series AAA Aaa
1995-A, 5.25% Due 7/1/15. 2005 at 101
1,000,000 New York Local Government Assistance Corporation (New York), Series 1995A AAA Aaa
Bonds, 6.00% Due 4/1/24. 2005 at 102
1,000,000 New York State Medical Care Facilities Finance Agency, Mental Health AAA Aaa
Services Facilities Improvement Revenue Bonds, 1995 Series A, 6.00% Due
2/15/25. (General Obligation Bonds.) 2005 at 102
1,075,000 Allegheny County Hospital Development Authority (Allegheny County, AAA Aaa
Pennsylvania), Hospital Revenue Bonds, Series A of 1996 (South Hills Health
System), 5.875% Due 5/1/26. 2006 at 102
1,000,000 Sabine River Authority of Texas, Pollution Control Revenue Refunding Bonds AAA Aaa
(Southwestern Electric Power Company Project), Series 1996, 6.10% Due
4/1/18. (When issued.) 2006 at 102
1,000,000 Travis County (Texas), Health Facilities Development Corporation Hospital AAA Aaa
Revenue Bonds (Daughters of Charity National Health System-Daughters of
Charity Health Services of Austin), Series 1995, 5.00% Due 11/1/20.
(Original issue discount bonds delivered on or about December 28, 1995 at a
price of 92.626% of principal amount.) 2005 at 101
----------------------------------------------------------------------------------------------------------------
$10,000,000 TOTAL 11 BONDS FROM 7 STATES
</TABLE>
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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 07/01/96.
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 $.09. 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 $ 99.96 4.90 % 5.37% 5.44% 5.40% 5.48% 5.42% 5.50 %
500 / $50,000 99.80 4.75 5.38 5.45 5.41 5.49 5.43 5.51
1,000 / $100,000 99.54 4.50 5.39 5.47 5.42 5.51 5.44 5.53
2,500 / $250,000 99.28 4.25 5.40 5.49 5.44 5.53 5.46 5.55
5,000 / $500,000 98.51 3.50 5.45 5.55 5.48 5.59 5.50 5.61
10,000 / $1,000,000 98.00 3.00 5.47 5.58 5.51 5.63 5.53 5.64
25,000 / $2,500,000 97.50 2.50 5.50 5.62 5.54 5.66 5.55 5.68
50,000 / $5,000,000 97.00 2.00 5.53 5.66 5.56 5.70 5.58 5.72
</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>
5.37 % 7.46% 7.78% 8.39% 8.89%
5.38 7.47 7.80 8.41 8.91
5.39 7.49 7.81 8.42 8.92
5.40 7.50 7.83 8.44 8.94
5.45 7.57 7.90 8.52 9.02
5.47 7.60 7.93 8.55 9.06
5.50 7.64 7.97 8.59 9.11
5.53 7.68 8.01 8.64 9.16
</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 $ .4321
Monthly plan 9/15/96 .4470 $ 5.3650
Quarterly plan 11/15/96 1.3491
2/15/97 1.3491 5.3970
Semi-annual plan 11/15/96 1.3536
5/15/97 2.7072 5.4160
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
07/01/96) interest
99.950 X $5.3650 = $536.23
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN CALIFORNIA
INSURED UNIT TRUST 268 874
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.28 - 5.50% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.36 - 5.64% - Diversified Portfolios
DATE OF DEPOSIT: July 2, 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 25.2 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.82 to $96.87 depending on the purchase amount
Cusip 67064W 739 monthly payment plan
Numbers 67064W 747 quarterly payment plan
67064W 754 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 California
</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)
2014-16 28.6%
2017-19 14.3%
2020-22 00.0%
2023-25 28.5%
2026+ 28.6%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 07/01/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 9.10%
Tax Equivalent Yield 5.28%
Treasury Bonds
Pre-Tax 7.61%
Tax Equivalent Yield 6.90%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.79%
</TABLE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 42.0% FEDERAL AND STATE INCOME TAX
RATE AND A 9.30% 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 6/30/96.
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 CALIFORNIA 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 California, Various Purpose General Obligation Bonds, 5.90% Due 2005 at 101 AAA Aaa
3/1/25.
500,000 California Health Facilities Financing Authority, Insured Hospital Revenue 2006 at 102 AAA Aaa
Refunding Bonds (Children's Hospital-San Diego), Series 1996, 5.375% Due
7/1/16.
500,000 California State University, Sacramento Student Union Refunding Revenue 2005 at 102 AAA Aaa
Bonds, Series C, 6.00% Due 3/1/26.
500,000 State of California, Department of Water Resources, Central Valley Project, 2005 at 101 AAA Aaa
Water System Revenue Bonds, Series O, 4.75% Due 12/1/25. (Original issue
discount bonds delivered on or about December 20, 1995 at a price of
91.786% of principal amount.)
500,000 County of Orange, California, 1996 Recovery Certificates of Participation, 2006 at 102 AAA Aaa
Series A, 6.00% Due 7/1/26.
500,000 Airports Commission of the City and County of San Francisco, California, 2006 at 102 AAA Aaa
San Francisco International Airport, Second Series Revenue Bonds, Issue
10B, 5.375% Due 5/1/17.
500,000 County of Stanislaus (California), Refunding Certificates of Participation 2006 at 102 AAA Aaa
(Capital Improvement Program), Series A of 1996, 5.25% Due 5/1/14.
----------------------------------------------------------------------------------------------------------------
$ 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 07/01/96.
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 $.09. 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 $ 99.82 4.90 % 5.28% 5.36% 5.32% 5.40% 5.33% 5.42 %
500 / $50,000 99.66 4.75 5.29 5.37 5.32 5.41 5.34 5.43
1,000 / $100,000 99.40 4.50 5.31 5.39 5.34 5.43 5.36 5.45
2,500 / $250,000 99.14 4.25 5.32 5.41 5.35 5.45 5.37 5.47
5,000 / $500,000 98.37 3.50 5.36 5.47 5.39 5.51 5.41 5.53
10,000 / $1,000,000 97.87 3.00 5.39 5.51 5.42 5.55 5.44 5.57
25,000 / $2,500,000 97.36 2.50 5.42 5.55 5.45 5.59 5.47 5.61
50,000 / $5,000,000 96.87 2.00 5.44 5.58 5.48 5.63 5.50 5.64
</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 34.5% 37.5% 42.0% 45.0%
<C> <S> <C> <C> <C> <C>
5.28 % 8.06% 8.45% 9.10% 9.60 %
5.29 8.08 8.46 9.12 9.62
5.31 8.11 8.50 9.16 9.65
5.32 8.12 8.51 9.17 9.67
5.36 8.18 8.58 9.24 9.75
5.39 8.23 8.62 9.29 9.80
5.42 8.27 8.67 9.34 9.85
5.44 8.31 8.70 9.38 9.89
</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 $ .4248
Monthly plan 9/15/96 .4395 $ 5.2743
Quarterly plan 11/15/96 1.3257
2/15/97 1.3257 5.3063
Semi-annual plan 11/15/96 1.3311
5/15/97 2.6622 5.3253
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.91 = 100.090
investment offering price # of units
(as of and accrued purchased
07/01/96) interest
100.090 X $5.2743 = $527.90
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
