<PAGE>
NUVEEN
NUVEEN MARYLAND
TRADITIONAL UNIT TRUST 317 885
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.04 - 5.24% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.04 - 5.32% - Dependable Income
DATE OF DEPOSIT: August 22, 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 23.8 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.73 to $97.75 depending on the purchase amount
Cusip 67102E 436 monthly payment plan
Numbers 67102E 444 quarterly payment plan
67102E 451 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 57%
AA 29
A 14
---------
100%
Registration Registered in Maryland
</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 28.5%
2017-20 17.7%
2021-24 28.6%
2025+ 25.2%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/21/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.26%
Tax Equivalent Yield 5.04%
Treasury Bonds
Pre-Tax 7.19%
Tax Equivalent Yield 6.83%
Corporate Bonds
Yield 7.84%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS INVESTMENT
GRADE LONG CORPORATE BOND INDEX. ASSUMES 39.0% FEDERAL AND STATE INCOME TAX
RATE AND A 5.0% STATE INCOME TAX RATE. TREASURY BONDS ARE SUBJECT TO FEDERAL
BUT NOT STATE INCOME TAXES; CORPORATE BONDS ARE GENERALLY SUBJECT TO BOTH.
TREASURY BONDS, UNLIKE MUNICIPAL BONDS, ARE GUARANTEED BY THE U.S. GOVERNMENT.
THE LEHMAN BROTHERS INVESTMENT GRADE LONG CORPORATE BOND INDEX IS CALCULATED
AS OF 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 MARYLAND 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>
----------------------------------------------------------------------------------------------------------------
$ 380,000 Maryland Health and Higher Educational Facilities Authority, Parking AAA Aaa
Revenue Bonds, The Johns Hopkins Medical Institutions Parking Facilities
Issue, Series 1996, 5.50% Due 7/1/26. (AMBAC Insured.) 2006 at 102
500,000 Anne Arundel County, Maryland, General Obligation Bonds, Consolidated Water AA+ Aa
and Sewer Series, 1996, 2006 at 101
235M-5.00% Due 9/1/22, (Original issue discount bonds delivered on or about
March 20, 1996 at a price of 93.731% of principal amount.)
265M-5.00% Due 9/1/23. (Original issue discount bonds delivered on or about
March 20, 1996 at a price of 93.627% of principal amount.)
500,000 City of Baltimore, Maryland (Mayor and City Council of Baltimore), AAA Aaa
Convention Center Revenue Bonds, Series 1994, 6.00% Due 9/1/17. (FGIC
Insured.) 2004 at 100
500,000 City of Baltimore, Maryland (Mayor and City Council of Baltimore), Project AAA Aaa
and Refunding Revenue Bonds (Water Projects), Series 1996-A, 5.50% Due
7/1/26. (Original issue discount bonds delivered on or about July 31, 1996
at a price of 93.74% of principal amount.)(FGIC Insured.) 2006 at 101
500,000 Calvert County, Maryland, Pollution Control Revenue Refunding Bonds A A2
(Baltimore Gas and Electric Company Project), Series 1993, 5.55% Due
7/15/14. 2004 at 102
500,000 Montgomery County Revenue Authority (Maryland), Lease Revenue Bonds (Human AA --
Services Headquarters Project), 2006 at 101
295M-5.55% Due 8/1/13,
205M-5.60% Due 8/1/14.
120,000 Washington County, Maryland, Water and Sewer Project and Refunding Bonds, AAA Aaa
Series 1996A (Capital Appreciation General Obligation Bonds), 0.00% Due
1/1/19. (Original issue discount bonds delivered on or about June 19, 1996
at a price of 26.682% of principal amount.)(FGIC Insured.) No Optional
Call
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1995 (General AAA Aaa
Obligation Bonds.), 5.375% Due 7/1/22. (Original issue discount bonds
delivered on or about May 4, 1995 at a price of 93.916% of principal
amount.)(MBIA Insured.) 2005 at 101
1/2
----------------------------------------------------------------------------------------------------------------
$ 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 08/21/96.
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 $ 100.73 4.90 % 5.04% 5.04% 5.07% 5.07% 5.09% 5.09 %
500 / $50,000 100.57 4.75 5.05 5.05 5.08 5.08 5.10 5.10
1,000 / $100,000 100.30 4.50 5.06 5.08 5.09 5.10 5.11 5.13
2,500 / $250,000 100.04 4.25 5.07 5.09 5.11 5.12 5.12 5.14
5,000 / $500,000 99.26 3.50 5.11 5.15 5.15 5.18 5.16 5.20
10,000 / $1,000,000 98.75 3.00 5.14 5.19 5.17 5.22 5.19 5.24
25,000 / $2,500,000 98.25 2.50 5.17 5.23 5.20 5.26 5.22 5.28
50,000 / $5,000,000 97.75 2.00 5.19 5.27 5.22 5.30 5.24 5.32
</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 31.5% 34.5% 39.0% 42.5%
<C> <S> <C> <C> <C> <C>
5.04 % 7.36% 7.69% 8.26% 8.77 %
5.05 7.37 7.71 8.28 8.78
5.06 7.39 7.73 8.30 8.80
5.07 7.40 7.74 8.31 8.82
5.11 7.46 7.80 8.38 8.89
5.14 7.50 7.85 8.43 8.94
5.17 7.55 7.89 8.48 8.99
5.19 7.58 7.92 8.51 9.03
</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
10/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 10/15/96 $ .5495
Monthly plan 11/15/96 .4227 $ 5.0753
Quarterly plan 11/15/96 .4254
2/15/97 1.2762 5.1073
Semi-annual plan 11/15/96 .4269
5/15/97 2.5614 5.1263
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.80 = 99.206
investment offering price # of units
(as of and accrued purchased
08/21/96) interest
99.206 X $5.0753 = $503.50
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN ARIZONA
INSURED UNIT TRUST 48 885
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
4.98 - 5.19% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.02 - 5.29% - Diversified Portfolios
DATE OF DEPOSIT: August 22, 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 25.1 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.53 to $97.55 depending on the purchase amount
Cusip 67101J 733 monthly payment plan
Numbers 67101J 741 quarterly payment plan
67101J 758 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 Arizona
</TABLE>
<TABLE>
<S> <C>
Payment Investors may choose to receive monthly, quarterly
Plans or semi-annual interest payments.
Bond Calls Most municipal bonds are subject to optional bond
calls. Bonds are usually called at a premium price
and generally not below par value.
Sales Charge The sales charge is a one-time expense included in
the Public Offering Price.
Letter Investors may use a Letter of Intent to get
of Intent reduced sales charges on purchases made over a
(LOI) 13-month period (and to take advantage of dollar
cost averaging). Minimum LOI investment $50,000.
Redemptions Units can be redeemed on any business day at no
charge. Units are redeemed at their current market
value.
Reinvestment Interest income and returned principal can be
reinvested with no sales charge into Nuveen tax-
free mutual or money market funds. For more
information obtain a prospectus.
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
MATURITY DATES (Description of Chart)
2015-17 28.5%
2018-20 14.3%
2021-23 14.3%
2024+ 42.9%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/21/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.23%
Tax Equivalent Yield 4.98%
Treasury Bonds
Pre-Tax 7.20%
Tax Equivalent Yield 6.83%
Corporate Bonds
Yield 7.84%
</TABLE>
<PAGE>
*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 5.20% 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 ARIZONA 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 Industrial Development Authority of The City of Glendale, Arizona, 2006 at 102 AAA Aaa
Revenue Bonds, Midwestern University, Series 1996A, 6.00% Due 5/15/26.
500,000 Town of Oro Valley Municipal Property Corporation (Arizona), Municipal 2008 at 101 AAA Aaa
Water System Acquisition Bonds, Series 1996 (Canada Hills and Rancho
Vistoso Water Utilities Acquisition Project), 5.375% Due 7/1/26.
500,000 Paradise Valley Unified School District No. 69 of Maricopa County, Arizona, 2005 at 101 AAA Aaa
School Improvement Bonds, Project of 1994, Series B (1995), 5.25% Due
7/1/15. (General Obligation Bonds.)
500,000 City of Phoenix, Arizona, General Obligation Refunding Bonds, Series 1995A, 2005 at 101 AAA Aaa
5.00% Due 7/1/19. (Original issue discount bonds delivered on or about July
6, 1995 at a price of 92.753% of principal amount.)
500,000 City of Phoenix Civic Improvement Corporation (Arizona), Wastewater System 2004 at 102 AAA Aaa
Lease Revenue Refunding Bonds, Series 1993, 4.75% Due 7/1/23. (Original
issue discount bonds delivered on or about November 4, 1993 at a price of
92.50% of principal amount.)
500,000 The Industrial Development Authority of the County of Pima, Arizona, 2004 at 102 AAA Aaa
Insured Refunding Revenue Bonds (Tucson Medical Center), Series 1993A,
5.00% Due 4/1/15. (Original issue discount bonds delivered on or about
December 2, 1993 at a price of 93.497% of principal amount.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1996 (General 2006 at 101 AAA Aaa
Obligation Bonds.), 5.40% Due 7/1/25. 1/2
----------------------------------------------------------------------------------------------------------------
$ 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 08/21/96.
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 $ 100.53 4.90 % 4.98% 5.02% 5.02% 5.05% 5.04% 5.07 %
500 / $50,000 100.37 4.75 4.99 5.03 5.02 5.06 5.04 5.08
1,000 / $100,000 100.10 4.50 5.01 5.05 5.04 5.08 5.06 5.10
2,500 / $250,000 99.84 4.25 5.02 5.07 5.05 5.10 5.07 5.12
5,000 / $500,000 99.07 3.50 5.06 5.13 5.09 5.16 5.11 5.18
10,000 / $1,000,000 98.56 3.00 5.08 5.17 5.12 5.20 5.14 5.22
25,000 / $2,500,000 98.05 2.50 5.11 5.20 5.14 5.23 5.16 5.25
50,000 / $5,000,000 97.55 2.00 5.14 5.24 5.17 5.27 5.19 5.29
</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 31.0% 34.5% 39.5% 43.0%
<C> <S> <C> <C> <C> <C>
4.98 % 7.22% 7.60% 8.23% 8.74 %
4.99 7.23 7.62 8.25 8.75
5.01 7.26 7.65 8.28 8.79
5.02 7.28 7.66 8.30 8.81
5.06 7.33 7.73 8.36 8.88
5.08 7.36 7.76 8.40 8.91
5.11 7.41 7.80 8.45 8.96
5.14 7.45 7.85 8.50 9.02
</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
10/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 10/15/96 $ .5424
Monthly plan 11/15/96 .4173 $ 5.0110
Quarterly plan 11/15/96 .4200
2/15/97 1.2600 5.0430
Semi-annual plan 11/15/96 .4218
5/15/97 2.5308 5.0620
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.60 = 99.403
investment offering price # of units
(as of and accrued purchased
08/21/96) interest
99.403 X $5.0110 = $498.11
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN CALIFORNIA
INSURED UNIT TRUST 271 885
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.08 - 5.29% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.18 - 5.44% - Diversified Portfolios
DATE OF DEPOSIT: August 22, 1996 - Top-Rated Municipal Bonds
</TABLE>
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FDIC OR
ANY OTHER FEDERAL AGENCY AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL.
- --------------------------------------------------------------------------------
QUICK FACTS ABOUT THIS UNIT TRUST
<TABLE>
<S> <C>
Tax Status Income is exempt from federal and state income
taxes. Capital gains are taxable.
Total Principal $3,500,000 in 35,000 units
Average Life 27.0 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.00 to $97.04 depending on the purchase amount
Cusip 67064W 820 monthly payment plan
Numbers 67064W 838 quarterly payment plan
67064W 846 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)
2013-15 7.1%
2016-18 0.0%
2019-21 14.3%
2022-24 42.9%
2025+ 35.7%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 08/21/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.76%
Tax Equivalent Yield 5.08%
Treasury Bonds
Pre-Tax 7.53%
Tax Equivalent Yield 6.83%
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>
----------------------------------------------------------------------------------------------------------------
$ 500,000 The City of Los Angeles, California, Wastewater System Revenue Bonds, 2004 at 102 AAA Aaa
Series 1994-A, 5.875% Due 6/1/24.
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 Sacramento Municipal Utility District (California), Electric Revenue Bonds, 2006 at 102 AAA Aaa
1996 Series J, 5.60% Due 8/15/24.
500,000 Saddleback Community College District (Orange County, California), 2006 at 102 AAA Aaa
Certificates of Participation (1996 Capital Improvement Financing Project),
5.50% Due 6/1/21. (Original issue discount bonds delivered on or about June
4, 1996 at a price of 94.555% of principal amount.)
500,000 The Metropolitan Water District of Southern California, Water Revenue 2005 at 102 AAA Aaa
Bonds, 1995 Series A, 5.50% Due 7/1/25. (Original issue discount bonds
delivered on or about July 13, 1995 at a price of 93.081% of principal
amount.)
250,000 Southern California Public Power Authority, Transmission Project Revenue No Optional AAA Aaa
Bonds, 1992 Subordinate Refunding Series (Southern Transmission Project), Call
0.00% Due 7/1/13. (Original issue discount bonds delivered on or about July
29, 1992 at a price of 27.038% of principal amount.)
250,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1996 (General 2006 at 101 AAA Aaa
Obligation Bonds.), 5.40% Due 7/1/25. 1/2
----------------------------------------------------------------------------------------------------------------
$ 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 08/21/96.
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 $ 100.00 4.90 % 5.08% 5.18% 5.12% 5.21% 5.13% 5.23 %
500 / $50,000 99.84 4.75 5.09 5.18 5.12 5.21 5.14 5.23
1,000 / $100,000 99.58 4.50 5.11 5.21 5.14 5.24 5.16 5.26
2,500 / $250,000 99.32 4.25 5.12 5.22 5.15 5.25 5.17 5.27
5,000 / $500,000 98.55 3.50 5.16 5.28 5.19 5.31 5.21 5.33
10,000 / $1,000,000 98.04 3.00 5.19 5.32 5.22 5.35 5.24 5.37
25,000 / $2,500,000 97.54 2.50 5.21 5.35 5.24 5.38 5.26 5.40
50,000 / $5,000,000 97.04 2.00 5.24 5.39 5.27 5.42 5.29 5.44
</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>
5.08 % 7.76% 8.13% 8.76% 9.24 %
5.09 7.77 8.14 8.78 9.25
5.11 7.80 8.18 8.81 9.29
5.12 7.82 8.19 8.83 9.31
5.16 7.88 8.26 8.90 9.38
5.19 7.92 8.30 8.95 9.44
5.21 7.95 8.34 8.98 9.47
5.24 8.00 8.38 9.03 9.53
</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
10/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 10/15/96 $ .5506
Monthly plan 11/15/96 .4236 $ 5.0837
Quarterly plan 11/15/96 .4263
2/15/97 1.2789 5.1157
Semi-annual plan 11/15/96 .4278
5/15/97 2.5668 5.1347
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.07 = 99.930
investment offering price # of units
(as of and accrued purchased
08/21/96) interest
99.930 X $5.0837 = $508.01
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN PENNSYLVANIA
INSURED UNIT TRUST 215 885
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
ESTIMATED CURRENT RETURN: For the tax-sensitive, conservative investor.
5.12 - 5.33% - Double Tax-Free
ESTIMATED LONG-TERM RETURN: - Dependable Income
5.16 - 5.43% - Diversified Portfolios
DATE OF DEPOSIT: August 22, 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 26.1 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.18 to $98.18 depending on the purchase amount
Cusip 6706H8 670 monthly payment plan
Numbers 6706H8 688 quarterly payment plan
6706H8 696 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)
2015-18 17.2%
2019-22 40.0%
2023+ 42.8%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 08/21/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Pre-Tax 8.26%
Tax Equivalent Yield 5.12%
Treasury Bonds
Pre-Tax 7.03%
Tax Equivalent Yield 6.83%
Corporate Bonds
Yield 7.84%
</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 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 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 Intergovernmental Cooperation Authority, Special Tax Revenue 2006 at 100 AAA Aaa
Refunding Bonds (City of Philadelphia Funding Program), Series of 1996,
5.50% Due 6/15/20.
500,000 Allegheny County Hospital Development Authority (Pennsylvania), Health 2005 at 102 AAA Aaa
Center Revenue Bonds, Series of 1995 (University of Pittsburgh Medical
Center System), 5.375% Due 12/1/25.
100,000 Hollidaysburg Area School District Blair County, Pennsylvania, General No Optional AAA Aaa
Obligation Bonds, Series of 1990, 0.00% Due 10/15/15. (Original issue Call
discount bonds delivered on or about December 20, 1990 at a price of
17.281% of principal amount.)
500,000 Lehigh County (Pennsylvania), General Purpose Authority, Hospital Revenue 2005 at 102 AAA Aaa
Bonds (Lehigh Valley Hospital), Series B of 1995, 5.625% Due 7/1/25.
400,000 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.
500,000 City of Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, 2005 at 102 AAA Aaa
Series 1995, 5.60% Due 8/1/18.
500,000 Pittsburgh (Pennsylvania), Water and Sewer Authority, Water and Sewer 2005 at 100 AAA Aaa
System First Lien Revenue Bonds, Series A of 1995, 5.60% Due 9/1/22.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1996 (General 2006 at 101 AAA Aaa
Obligation Bonds.), 5.40% Due 7/1/25. 1/2
----------------------------------------------------------------------------------------------------------------
$ 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 08/21/96.
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 $ 101.18 4.90 % 5.12% 5.16% 5.15% 5.19% 5.17% 5.21 %
500 / $50,000 101.02 4.75 5.13 5.17 5.16 5.20 5.18 5.22
1,000 / $100,000 100.75 4.50 5.14 5.19 5.18 5.22 5.20 5.24
2,500 / $250,000 100.49 4.25 5.16 5.20 5.19 5.23 5.21 5.25
5,000 / $500,000 99.71 3.50 5.20 5.26 5.23 5.29 5.25 5.31
10,000 / $1,000,000 99.20 3.00 5.22 5.30 5.26 5.33 5.28 5.35
25,000 / $2,500,000 98.69 2.50 5.25 5.34 5.28 5.37 5.30 5.39
50,000 / $5,000,000 98.18 2.00 5.28 5.38 5.31 5.41 5.33 5.43
</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>
5.12 % 7.31% 7.64% 8.26% 8.75 %
5.13 7.33 7.66 8.27 8.77
5.14 7.34 7.67 8.29 8.79
5.16 7.37 7.70 8.32 8.82
5.20 7.43 7.76 8.39 8.89
5.22 7.46 7.79 8.42 8.92
5.25 7.50 7.84 8.47 8.97
5.28 7.54 7.88 8.52 9.03
</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
10/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 10/15/96 $ .5612
Monthly plan 11/15/96 .4317 $ 5.1831
Quarterly plan 11/15/96 .4344
2/15/97 1.3032 5.2151
Semi-annual plan 11/15/96 .4359
5/15/97 2.6154 5.2341
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.25 = 98.765
investment offering price # of units
(as of and accrued purchased
08/21/96) interest
98.765 X $5.1831 = $511.91
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
