<PAGE>
NUVEEN
NUVEEN VIRGINIA
TRADITIONAL UNIT TRUST 311 882
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.09 - 5.30% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.09 - 5.36% - Dependable Income
DATE OF DEPOSIT: August 7, 1996 - Diversified Portfolios
- Investment Grade 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 25.5 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.64 to $97.66 depending on the purchase amount
Cusip 6706LB 256 monthly payment plan
Numbers 6706LB 264 quarterly payment plan
6706LB 272 semi-annual payment plan
Ratings of As rated by Standard & Poor's, a division of The McGraw
Portfolio Hill Companies
or Moody's Investors Service, Inc.
AAA 69%
AA 17
A 14
---------
100%
Registration Registered in Virginia
</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 14.1%
2017-19 17.2%
2020-22 28.6%
2023-25 14.3%
2026+ 25.8%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/06/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.41%
Tax Equivalent Yield 5.09%
Treasury Bonds
Pre-Tax 7.17%
Tax Equivalent Yield 6.76%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.84%
</TABLE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 39.5% FEDERAL AND STATE INCOME TAX
RATE AND A 5.75% 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 7/31/96.
<PAGE>
- --------------------------------------------------------------------------------
BONDS THIS VIRGINIA TRADITIONAL 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 Industrial Development Authority of Brunswick County, Virginia, AAA Aaa
Correctional Facility Lease Revenue Bonds, Series 1996, 5.50% Due 7/1/17.
(Original issue discount bonds delivered on or about July 10, 1996 at a
price of 94.646% of principal amount.)(MBIA Insured.) 2006 at 102
500,000 Capital Region Airport Commission, Richmond (Virginia), International AAA Aaa
Airport Projects, Airport Revenue Bonds, Series 1995A, 5.625% Due 7/1/25.
(AMBAC Insured.) 2005 at 102
500,000 City of Chesapeake, Virginia, General Obligation Water and Sewer Bonds, AA Aa
Series of 1995A, 5.375% Due 12/1/20. 2005 at 102
100,000 Fairfax County Economic Development Authority (Virginia), Lease Revenue AA Aa
Bonds (Government Center Properties), Series 1994, 5.25% Due 11/15/18.
(Original issue discount bonds delivered on or about March 15, 1994 at a
price of 90.996% of principal amount.) 2004 at 102
400,000 Loudon County Sanitation Authority (Virginia), Water and Sewer System AAA Aaa
Revenue Bonds, Series 1996, 2007 at 102
240M-5.25% Due 1/1/26. (Original issue discount bonds will be delivered on
or about August 27, 1996 at a price of 94.292% of principal amount.)
160M-5.25% Due 1/1/30. (Original issue discount bonds will be delivered on
or about August 27, 1996 at a price of 93.309% of principal amount.)
(When issued.) (FGIC Insured.)
500,000 City of Richmond, Virginia, General Obligation Public Improvement Refunding AAA Aaa
Bonds, Series 1995B, 5.00% Due 1/15/21. (FGIC Insured.) 2006 at 102
500,000 Upper Occoquan Sewage Authority (Virginia), Regional Sewerage System AAA Aaa
Revenue Bonds, Series of 1995A, 4.75% Due 7/1/29. (Original issue discount
bonds delivered on or about January 9, 1996 at a price of 91.422% of
principal amount.)(MBIA Insured.) 2006 at 100
500,000 Industrial Development Authority of Washington County (Virginia), Hospital -- A
Facility First Mortgage Revenue Refunding Bonds (Johnston Memorial
Hospital), Series 1995, 6.00% Due 7/1/14. 2005 at 102
----------------------------------------------------------------------------------------------------------------
$ 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 08/06/96.
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 $ 100.64 4.90 % 5.09% 5.09% 5.12% 5.12% 5.14% 5.14 %
500 / $50,000 100.48 4.75 5.10 5.10 5.13 5.13 5.15 5.15
1,000 / $100,000 100.22 4.50 5.11 5.13 5.14 5.16 5.16 5.17
2,500 / $250,000 99.96 4.25 5.12 5.14 5.16 5.17 5.17 5.19
5,000 / $500,000 99.18 3.50 5.16 5.20 5.20 5.23 5.22 5.25
10,000 / $1,000,000 98.67 3.00 5.19 5.24 5.22 5.27 5.24 5.29
25,000 / $2,500,000 98.16 2.50 5.22 5.28 5.25 5.31 5.27 5.33
50,000 / $5,000,000 97.66 2.00 5.24 5.31 5.28 5.34 5.30 5.36
</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 32.0% 35.0% 39.5% 43.0%
<C> <S> <C> <C> <C> <C>
5.09 % 7.49% 7.83% 8.41% 8.93 %
5.10 7.50 7.85 8.43 8.95
5.11 7.51 7.86 8.45 8.96
5.12 7.53 7.88 8.46 8.98
5.16 7.59 7.94 8.53 9.05
5.19 7.63 7.98 8.58 9.11
5.22 7.68 8.03 8.63 9.16
5.24 7.71 8.06 8.66 9.19
</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
09/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 9/15/96 $ .3412
Monthly plan 10/15/96 .4266 $ 5.1217
Quarterly plan 11/15/96 .8586
2/15/97 1.2879 5.1537
Semi-annual plan 11/15/96 .8616
5/15/97 2.5848 5.1727
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.71 = 99.295
investment offering price # of units
(as of and accrued purchased
08/06/96) interest
99.295 X $5.1217 = $508.56
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN NATIONAL
INSURED UNIT TRUST 325 882
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.19 - 5.40% - Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.26 - 5.52% - Diversified Portfolios
DATE OF DEPOSIT: August 7, 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 27.3 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.44 to $97.47 depending on the purchase amount
Cusip 6710A5 162 monthly payment plan
Numbers 6710A5 170 quarterly payment plan
6710A5 188 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>
Florida 10.6 % Iowa 9.9 % Illinois 11.0 %
Louisiana 10.3 Massachusetts 10.6 Michigan 5.3
New York 10.6 Pennsylvania 21.4 Rhode Island 10.3
</TABLE>
<TABLE>
<S> <C>
MATURITY DATES (Descrtiption of Chart)
2019-21 30.0%
2022-24 25.0%
2025+ 45.0%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/06/96*
(Descrition of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.11%
Tax Equivalent Yield 5.19%
Treasury Bonds
Pre-Tax 7.12%
Tax Equivalent Yield 6.76%
Corporate Bonds
Yield 7.84%
</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 7/31/96.
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>
----------------------------------------------------------------------------------------------------------------
$ 1,000,000 Lee County, Florida, Transportation Facilities Revenue Bonds, Series 1995, 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.) 2005 at 102
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series 1994A AAA Aaa
(Northwestern Memorial Hospital), 6.00% Due 8/15/24. 2004 at 102
500,000 Metropolitan Pier and Exposition Authority (Illinois), McCormick Place AAA Aaa
Expansion Project Bonds, Series 1992A, 0.00% Due 6/15/19. (Original issue
discount bonds delivered on or about January 5, 1993 at a price of 17.281%
of principal amount.) No Optional
Call
1,000,000 Iowa Finance Authority, Private College Refunding Revenue Bonds (Drake AAA Aaa
University Project), Series 1996, 5.40% Due 12/1/21. 2005 at 102
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 Bay Transportation Authority, General Transportation System AAA Aaa
Bonds, 1995 Series A, 5.75% Due 3/1/25. (General Obligation Bonds.) 2005 at 102
500,000 The Economic Development Corporation of the City of Farmington Hills AAA Aaa
(Michigan), Revenue Bonds (Botsford Continuing Care Corporation Project),
Series 1995A, 5.75% Due 2/15/25. 2005 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, 5.75% Due 6/15/26.
(Original issue discount bonds delivered on or about May 16, 1996 at a
price of 93.892% of principal amount.) 2006 at 101
500,000 Pennsylvania Higher Educational Facilities Authority (Commonwealth of AAA Aaa
Pennsylvania), Revenue Bonds, State System of Higher Education, Series N,
5.80% Due 6/15/24. 2006 at 100
1,500,000 Allegheny County Hospital Development Authority (Allegheny County, AAA Aaa
Pennsylvania), Hospital Revenue Bonds, Series A of 1996 (South Hills Health
System), 5.85% Due 5/1/21. 2006 at 102
1,000,000 Rhode Island Health and Educational Building Corporation, Higher Education AAA Aaa
Facility Revenue Bonds, Rhode Island School of Design Issue, Series 1996,
5.625% Due 6/1/26. (Original issue discount bonds will be delivered on or
about August 20, 1996 at a price of 93.763% of principal amount.)(When
issued.) 2006 at 102
----------------------------------------------------------------------------------------------------------------
$10,000,000 TOTAL 11 BONDS FROM 9 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 08/06/96.
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 $ 100.44 4.90 % 5.19% 5.26% 5.22% 5.29% 5.24% 5.31 %
500 / $50,000 100.28 4.75 5.20 5.26 5.23 5.29 5.25 5.31
1,000 / $100,000 100.02 4.50 5.21 5.29 5.25 5.32 5.26 5.34
2,500 / $250,000 99.76 4.25 5.23 5.30 5.26 5.33 5.28 5.35
5,000 / $500,000 98.98 3.50 5.27 5.36 5.30 5.39 5.32 5.41
10,000 / $1,000,000 98.47 3.00 5.30 5.40 5.33 5.43 5.35 5.45
25,000 / $2,500,000 97.97 2.50 5.32 5.43 5.36 5.46 5.37 5.48
50,000 / $5,000,000 97.47 2.00 5.35 5.47 5.38 5.50 5.40 5.52
</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>
5.19 % 7.21% 7.52% 8.11% 8.59%
5.20 7.22 7.54 8.13 8.61
5.21 7.24 7.55 8.14 8.63
5.23 7.26 7.58 8.17 8.66
5.27 7.32 7.64 8.23 8.73
5.30 7.36 7.68 8.28 8.77
5.32 7.39 7.71 8.31 8.81
5.35 7.43 7.75 8.36 8.86
</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
09/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 9/15/96 $ .3475
Monthly plan 10/15/96 .4344 $ 5.2143
Quarterly plan 11/15/96 .8742
2/15/97 1.3113 5.2463
Semi-annual plan 11/15/96 .8772
5/15/97 2.6316 5.2653
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.51 = 99.492
investment offering price # of units
(as of and accrued purchased
08/06/96) interest
99.492 X $5.2143 = $518.78
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN CALIFORNIA
INSURED UNIT TRUST 270 882
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.07 - 5.28% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.18 - 5.45% - Diversified Portfolios
DATE OF DEPOSIT: August 7, 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 26.5 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.77 to $98.76 depending on the purchase amount
Cusip 67064W 796 monthly payment plan
Numbers 67064W 804 quarterly payment plan
67064W 812 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)
2006-10 7.1%
2011-15 0.0%
2016-20 14.3%
2021-25 35.7%
2026+ 42.9%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/06/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.74%
Tax Equivalent Yield 5.07%
Treasury Bonds
Pre-Tax 7.45%
Tax Equivalent Yield 6.76%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.84%
</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 7/31/96.
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 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>
----------------------------------------------------------------------------------------------------------------
$ 250,000 California Educational Facilities Authority, Revenue Bonds (Loyola 2004 at 102 AAA Aaa
Marymount University), Series 1994, 5.75% Due 10/1/24.
500,000 California State University, Sacramento Student Union Refunding Revenue 2005 at 102 AAA Aaa
Bonds, Series C, 5.625% Due 3/1/21.
500,000 Los Angeles County, California, Metropolitan Transportation Authority Sales 2006 at 101 AAA Aaa
Tax Revenue Bonds, Proposition A-1st Tier-Series A, 6.00% Due 7/1/26.
500,000 County of Madera, California, Certificates of Participation (Valley 2005 at 102 AAA Aaa
Children's Hospital Project), Series 1995, 6.125% Due 3/15/23.
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, 5.50% Due 5/1/26.
500,000 Santa Margarita/Dana Point Authority, Orange County, California, Revenue 2004 at 102 AAA Aaa
Bonds, Series B (1994 Improvement Districts Nos. 3, 3A, 4 and 4A General
Obligation Bond Refinancing), 5.75% Due 8/1/20. (Original issue discount
bonds delivered on or about July 28, 1994 at a price of 93.75% of principal
amount.)
250,000 Victor Elementary School District (County of San Bernardino, California), No Optional AAA Aaa
General Obligation Bonds, Election of 1995, Series A, Capital Appreciation Call
Bonds, 0.00% Due 6/1/09. (Original issue discount bonds delivered on or
about June 7, 1995 at a price of 44.348% 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 08/06/96.
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 $ 101.77 4.90 % 5.07% 5.18% 5.11% 5.21% 5.12% 5.23 %
500 / $50,000 101.61 4.75 5.08 5.19 5.11 5.22 5.13 5.24
1,000 / $100,000 101.34 4.50 5.10 5.21 5.13 5.24 5.15 5.26
2,500 / $250,000 101.08 4.25 5.11 5.23 5.14 5.26 5.16 5.28
5,000 / $500,000 100.29 3.50 5.15 5.29 5.18 5.32 5.20 5.34
10,000 / $1,000,000 99.77 3.00 5.18 5.32 5.21 5.35 5.23 5.37
25,000 / $2,500,000 99.26 2.50 5.20 5.36 5.23 5.39 5.25 5.41
50,000 / $5,000,000 98.76 2.00 5.23 5.40 5.26 5.43 5.28 5.45
</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>
5.07 % 7.74% 8.11% 8.74% 9.22 %
5.08 7.76 8.13 8.76 9.24
5.10 7.79 8.16 8.79 9.27
5.11 7.80 8.18 8.81 9.29
5.15 7.86 8.24 8.88 9.36
5.18 7.91 8.29 8.93 9.42
5.20 7.94 8.32 8.97 9.45
5.23 7.98 8.37 9.02 9.51
</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
09/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 9/15/96 $ .3441
Monthly plan 10/15/96 .4302 $ 5.1637
Quarterly plan 11/15/96 .8658
2/15/97 1.2987 5.1957
Semi-annual plan 11/15/96 .8688
5/15/97 2.6064 5.2147
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.84 = 98.193
investment offering price # of units
(as of and accrued purchased
08/06/96) interest
98.193 X $5.1637 = $507.04
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN MICHIGAN
INSURED UNIT TRUST 66 882
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.11 - 5.32% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.18 - 5.45% - Diversified Portfolios
DATE OF DEPOSIT: August 7, 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 26.2 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.17 to $96.23 depending on the purchase amount
Cusip 67095E 492 monthly payment plan
Numbers 67095E 500 quarterly payment plan
67095E 518 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 Michigan
</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 18.6%
2021-22 38.6%
2023-24 14.3%
2025+ 28.5%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/06/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.52%
Tax Equivalent Yield 5.11%
Treasury Bonds
Pre-Tax 7.20%
Tax Equivalent Yield 6.76%
Corporate Bonds
Yield 7.84%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 40.0% FEDERAL AND STATE INCOME TAX
RATE AND A 6.15% 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 7/31/96.
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 MICHIGAN 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 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds 2004 at 102 AAA Aaa
(Mercy Memorial Hospital, Monroe, Michigan), Series 1994, 5.25% Due 6/1/21.
500,000 Michigan Municipal Bond Authority, State Revolving Fund Revenue Bonds, 2006 at 102 AAA Aaa
Pooled Project Series 1996B, 5.625% Due 10/1/19. (Original issue discount
bonds delivered on or about May 7, 1996 at a price of 94.114% of principal
amount.)
500,000 Byron Center Public Schools, County of Kent, State of Michigan, 1995 School 2005 at 101 AAA Aaa
Building and Site and Refunding Bonds, 5.875% Due 5/1/24. (General
Obligation Bonds.)
500,000 City of Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series 2005 at 100 AAA Aaa
1995-A, 5.00% Due 7/1/25. (Original issue discount bonds delivered on or
about November 21, 1995 at a price of 90.125% of principal amount.)
500,000 The Economic Development Corporation of the City of Farmington Hills 2005 at 102 AAA Aaa
(Michigan), Revenue Bonds (Botsford Continuing Care Corporation Project),
Series 1995A, 5.75% Due 2/15/25.
500,000 Huron Valley School District, Counties of Oakland and Livingston, State of 2007 at 100 AAA Aaa
Michigan, 1996 School Building and Site Bonds, 5.75% Due 5/1/22. (General
Obligation Bonds.)
350,000 Ovid-Elsie Area Schools, Counties of Clinton, Shiawassee, Saginaw and 2005 at 101 AAA Aaa
Gratiot, State of Michigan, 1995 School Building and Site Bonds, 5.60% Due
5/1/21. (Original issue discount bonds delivered on or about August 10,
1995 at a price of 93.539% of principal amount.)(General Obligation Bonds.)
150,000 West Ottawa Public Schools, County of Ottawa, State of Michigan, 1992 No Optional AAA Aaa
Refunding Bonds, 0.00% Due 5/1/20. (Original issue discount bonds delivered Call
on or about September 29, 1992 at a price of 17.586% of principal
amount.)(General Obligation Bonds.)
----------------------------------------------------------------------------------------------------------------
$ 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 08/06/96.
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 $ 99.17 4.90 % 5.11% 5.18% 5.15% 5.21% 5.17% 5.23 %
500 / $50,000 99.01 4.75 5.12 5.19 5.15 5.22 5.17 5.24
1,000 / $100,000 98.75 4.50 5.14 5.21 5.17 5.24 5.19 5.26
2,500 / $250,000 98.50 4.25 5.15 5.22 5.18 5.25 5.20 5.27
5,000 / $500,000 97.73 3.50 5.19 5.28 5.22 5.31 5.24 5.33
10,000 / $1,000,000 97.23 3.00 5.22 5.32 5.25 5.35 5.27 5.37
25,000 / $2,500,000 96.73 2.50 5.24 5.36 5.28 5.39 5.30 5.41
50,000 / $5,000,000 96.23 2.00 5.27 5.40 5.30 5.43 5.32 5.45
</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 32.5% 35.0% 40.0% 43.5%
<C> <S> <C> <C> <C> <C>
5.11 % 7.57% 7.86% 8.52% 9.04 %
5.12 7.59 7.88 8.53 9.06
5.14 7.61 7.91 8.57 9.10
5.15 7.63 7.92 8.58 9.12
5.19 7.69 7.98 8.65 9.19
5.22 7.73 8.03 8.70 9.24
5.24 7.76 8.06 8.73 9.27
5.27 7.81 8.11 8.78 9.33
</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
09/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 9/15/96 $ .3379
Monthly plan 10/15/96 .4224 $ 5.0716
Quarterly plan 11/15/96 .8502
2/15/97 1.2753 5.1036
Semi-annual plan 11/15/96 .8532
5/15/97 2.5596 5.1226
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.24 = 100.765
investment offering price # of units
(as of and accrued purchased
08/06/96) interest
100.765 X $5.0716 = $511.04
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
