NUVEEN TAX FREE UNIT TRUST SERIES 883
497, 1996-08-08
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<PAGE>
                                                                          NUVEEN
   
NUVEEN NORTH CAROLINA
TRADITIONAL UNIT TRUST 300                                                   883
    
 
- --------------------------------------------------------------------------------
 
   
<TABLE>
<S>                                                 <C>
ESTIMATED CURRENT RETURN:                           NUVEEN TAX-FREE UNIT TRUSTS:
5.04 - 5.25%                                        For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN:                         - Double Tax-Free
5.08 - 5.36%                                        - Dependable Income
DATE OF DEPOSIT: August 8, 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    23.0 years
Call Protection Earliest ordinary optional call is 2005
Minimum         $5,000 or 50 units, whichever is lower
Investment
Offering Price  $101.32 to $98.33 depending on the purchase amount
Cusip           6710A2 706 monthly payment plan
Numbers         6710A2 714 quarterly payment plan
                6710A2 722 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               65%
                AA                21
                A1/A+             14
                                  ---------
                                  100%
Registration    Registered in North Carolina
</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)
2011-15                                            30.2%
2016-20                                            41.2%
2021-25                                            14.3%
2026+                                              14.3%
The earliest ordinary optional call date is 2005
 
YIELD COMPARISON AS OF 08/07/96*
  (Description of Yield Comparison Chart)
 
Nuveen UIT
     Pre-Tax                                       8.54%
     Tax Equivalent Yield                          5.04%
 
Treasury Bonds
     Pre-Tax                                       7.33%
     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 41.0% FEDERAL AND STATE INCOME TAX
  RATE AND A 7.75% 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.
 
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 NORTH CAROLINA 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>
 ----------------------------------------------------------------------------------------------------------------
 $   480,000  North Carolina Medical Care Commission, Hospital Revenue Bonds (Gaston                   A+    A
              Memorial Hospital Project), Series 1995, 5.50% Due 2/15/15.                 2006 at 102
     145,000  North Carolina Municipal Power Agency Number 1, Catawba Electric Revenue                 AAA   Aaa
              Bonds, Series 1995A, 5.375% Due 1/1/20. (AMBAC Insured.)                    2006 at 102
     500,000  Board of Governors of The University of North Carolina, University of North              AA   Aa
              Carolina Hospitals at Chapel Hill, Revenue Bonds, Series 1996, 5.00% Due
              2/15/29. (Original issue discount bonds delivered on or about March 20,
              1996 at a price of 91.16% of principal amount.)                             2006 at 101
     500,000  North Carolina Central University, Housing System Revenue Bonds, Series of               AAA   Aaa
              1996 of the Board of Governors of the University of North Carolina,         2006 at 102
              350M-5.80% Due 11/1/18,
              150M-5.80% Due 11/1/19.
              (MBIA Insured.)
     500,000  City of Concord, North Carolina, Utilities Systems Revenue Bonds, Series                 AAA   Aaa
              1995, 5.50% Due 12/1/19. (MBIA Insured.)                                    2005 at 102
     350,000  County of Forsyth, North Carolina, General Obligation School Bonds, Series               AAA   Aa1
              1996, 4.75% Due 2/1/11.                                                     2006 at 102
     295,000  County of Pasquotank, North Carolina, Certificates of Participation (1995                AAA   Aaa
              Elizabeth City-Pasquotank Public Schools Project), 5.00% Due 6/1/20.
              (Original issue discount bonds delivered on or about December 21, 1995 at a
              price of 93.624% of principal amount.)(MBIA Insured.)                       2006 at 102
     230,000  County of Pitt, North Carolina, Pitt County Memorial Hospital Revenue                    AA-   Aa
              Bonds, Series 1995, 5.50% Due 12/1/15.                                      2005 at 102
     500,000  County of Union, North Carolina, Enterprise Systems Revenue Bonds, Series                AAA   Aaa
              1996, 5.50% Due 6/1/21. (MBIA Insured.)                                     2006 at 102
 ----------------------------------------------------------------------------------------------------------------
 $ 3,500,000  TOTAL            9 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 08/07/96.
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           $    101.32     4.90 %      5.04%   5.08%   5.08%   5.11%   5.09%   5.13 %
 500 / $50,000              101.17     4.75        5.05    5.08    5.08    5.11    5.10    5.13
 1,000 / $100,000           100.90     4.50        5.06    5.11    5.10    5.14    5.12    5.16
 2,500 / $250,000           100.64     4.25        5.08    5.12    5.11    5.15    5.13    5.17
 5,000 / $500,000            99.86     3.50        5.12    5.19    5.15    5.22    5.17    5.24
 10,000 / $1,000,000         99.34     3.00        5.14    5.23    5.18    5.26    5.20    5.28
 25,000 / $2,500,000         98.83     2.50        5.17    5.27    5.20    5.30    5.22    5.32
 50,000 / $5,000,000         98.33     2.00        5.20    5.31    5.23    5.34    5.25    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      33.0%   36.5%   41.0%      44.5%
 <C>             <S>     <C>     <C>     <C>       <C>
         5.04  % 7.52%   7.94%   8.54%      9.08 %
         5.05    7.54    7.95    8.56       9.10
         5.06    7.55    7.97    8.58       9.12
         5.08    7.58    8.00    8.61       9.15
         5.12    7.64    8.06    8.68       9.23
         5.14    7.67    8.09    8.71       9.26
         5.17    7.72    8.14    8.76       9.32
         5.20    7.76    8.19    8.81       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
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   $   .3263
 Monthly plan           10/15/96       .4257   $ 5.1101
 Quarterly plan         11/15/96       .8568
                         2/15/97      1.2852     5.1421
 Semi-annual plan       11/15/96       .8598
                         5/15/97      2.5794     5.1611
 EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
 $10,000       DIVIDED  BY 101.39 =  98.629
 investment       offering price     # of units
 (as of           and accrued        purchased
 08/07/96)        interest
 98.629       X   $5.1101        =   $504.00
 # of units       annual income      annual income
 purchased        per unit
                  (monthly plan)
</TABLE>
<PAGE>
                                                                          NUVEEN
   
NUVEEN OHIO
INSURED UNIT TRUST 136                                                       883
    
 
- --------------------------------------------------------------------------------
 
   
<TABLE>
<S>                                                 <C>
RATED: "AAA"                                        NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN:                           For the tax-sensitive, conservative investor.
5.06 - 5.27%                                        - Double Tax-Free
ESTIMATED LONG-TERM RETURN:                         - Dependable Income
5.08 - 5.36%                                        - Diversified Portfolios
DATE OF DEPOSIT: August 8, 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    23.5 years
Call Protection Earliest ordinary optional call is 2005
Minimum         $5,000 or 50 units, whichever is lower
Investment
Offering Price  $99.84 to $96.89 depending on the purchase amount
Cusip           67102G 258 monthly payment plan
Numbers         67102G 266 quarterly payment plan
                67102G 274 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 Ohio
</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                                            21.4%
2017-19                                            21.4%
2020-22                                            50.1%
2023-25                                             7.1%
The earliest ordinary optional call date is 2005
 
YIELD COMPARISON AS OF 08/07/96*
  (Description of Yield Comparison Chart)
 
Nuveen UIT
     Pre-Tax                                       8.58%
     Tax Equivalent Yield                          5.06%
 
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 41.0% FEDERAL AND STATE INCOME TAX
  RATE AND A 7.5% 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 OHIO 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  State of Ohio (Ohio Building Authority), State Facilities Bonds (Adult      2006 at 101  AAA   Aaa
              Correctional Building Fund Projects), 1996 Series A, 5.50% Due 4/1/16.
     250,000  State of Ohio, Turnpike Revenue Bonds, 1996 Series A, Issued by the Ohio    2006 at 102  AAA   Aaa
              Turnpike Commission, 5.70% Due 2/15/17.
     500,000  Ohio Water Development Authority, State of Ohio, Water Development Revenue  2005 at 102  AAA   Aaa
              Bonds, 1995 Fresh Water Series, 5.90% Due 12/1/21.
     500,000  County of Cuyahoga, Ohio, Hospital Improvement and Refunding Revenue Bonds,  2006 at 102 AAA   Aaa
              Series 1996A (University Hospitals Health System, Inc. Project), 5.625% Due
              1/15/14.
     500,000  Hilliard City School District, Ohio, General Obligation Bonds, School       2005 at 102  AAA   Aaa
              Improvement Bonds, Series 1995A, 5.75% Due 12/1/19.
     250,000  City of Huber Heights, Ohio, Water System Revenue Bonds, Series 1995, 0.00%  No Optional AAA   Aaa
              Due 12/1/21. (Original issue discount bonds delivered on or about September      Call
              29, 1995 at a price of 20.229% of principal amount.)
     250,000  County of Mahoning, Ohio, Hospital Improvement Revenue Bonds, Series 1995   2005 at 102  AAA   Aaa
              (Western Reserve Care System Project), 5.50% Due 10/15/25.
     500,000  City of Middleburg Heights, Ohio, Hospital Improvement Refunding Revenue    2008 at 102  AAA   Aaa
              Bonds, Series 1995 (Southwest General Health Center Project), 5.75% Due
              8/15/21.
     500,000  Westerville City School District, Ohio, General Obligation Bonds, School    2006 at 102  AAA   Aaa
              Improvement Bonds, Series 1996, 5.65% Due 12/1/22. (When issued.)
 ----------------------------------------------------------------------------------------------------------------
 $ 3,500,000  TOTAL            9 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 08/07/96.
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           $     99.84     4.90 %      5.06%   5.08%   5.09%   5.11%   5.11%   5.13 %
 500 / $50,000               99.69     4.75        5.07    5.09    5.10    5.12    5.12    5.14
 1,000 / $100,000            99.42     4.50        5.08    5.11    5.12    5.14    5.13    5.16
 2,500 / $250,000            99.16     4.25        5.10    5.13    5.13    5.16    5.15    5.18
 5,000 / $500,000            98.39     3.50        5.14    5.19    5.17    5.22    5.19    5.24
 10,000 / $1,000,000         97.89     3.00        5.16    5.23    5.20    5.26    5.22    5.28
 25,000 / $2,500,000         97.38     2.50        5.19    5.27    5.22    5.30    5.24    5.32
 50,000 / $5,000,000         96.89     2.00        5.22    5.31    5.25    5.34    5.27    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      32.5%   36.0%   41.0%      44.0%
 <C>             <S>     <C>     <C>     <C>       <C>
         5.06  % 7.50%   7.91%   8.58%      9.04 %
         5.07    7.51    7.92    8.59       9.05
         5.08    7.53    7.94    8.61       9.07
         5.10    7.56    7.97    8.64       9.11
         5.14    7.61    8.03    8.71       9.18
         5.16    7.64    8.06    8.75       9.21
         5.19    7.69    8.11    8.80       9.27
         5.22    7.73    8.16    8.85       9.32
</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   $   .3226
 Monthly plan           10/15/96       .4209   $ 5.0541
 Quarterly plan         11/15/96       .8472
                         2/15/97      1.2708     5.0861
 Semi-annual plan       11/15/96       .8508
                         5/15/97      2.5524     5.1051
 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
 08/07/96)        interest
 100.090      X   $5.0541        =   $505.86
 # of units       annual income      annual income
 purchased        per unit
                  (monthly plan)
</TABLE>


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