<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 274 893
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
All bonds in this Unit Trust are insured by MBIA For the tax-sensitive, conservative investor.
Insurance Corporation. As a result, the bonds are - Double Tax-Free
rated Aaa by Moody's Investors Service, Inc. and - Dependable Income
both the bonds and the Units are rated AAA by - Diversified Portfolios
Standard & Poor's, the highest rating given by - Top-Rated Municipal Bonds
each agency. DATE OF DEPOSIT: October 1, 1996
ESTIMATED CURRENT RETURN:
5.15 - 5.36%
ESTIMATED LONG-TERM RETURN:
5.21 - 5.48%
</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 $4,000,000 in 40,000 units
Average Life 26.7 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.69 to $97.71 depending on the purchase amount
Cusip 67065A 132 monthly payment plan
Numbers 67065A 140 quarterly payment plan
67065A 157 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)
2016-20 20.0%
2021-25 52.5%
2026+ 27.5%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 09/30/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.15%
Tax Equivalent Yield 8.88%
Treasury Bonds
Yield 6.90%
Tax Equivalent Yield 7.61%
Corporate Bonds
Yield 7.74%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 09/27/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 09/27/96. 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.
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>
----------------------------------------------------------------------------------------------------------------
$ 600,000 State of California, Various Purpose General Obligation Bonds, 5.90% Due 2005 at 101 AAA Aaa
3/1/25.
600,000 California Health Facilities Financing Authority, Insured Health Facility 2006 at 102 AAA Aaa
Refunding Revenue Bonds (Catholic Healthcare West), 1996 Series A, 6.00%
Due 7/1/25.
200,000 Encinitas Union School District (San Diego County, California), General No Optional AAA Aaa
Obligation Bonds, Election of 1996, Series 1996, 0.00% Due 8/1/16. Call
(Original issue discount bonds delivered on or about August 22, 1996 at a
price of 31.668% of principal amount.)
600,000 County of Orange, California, 1996 Recovery Certificates of Participation, 2006 at 102 AAA Aaa
Series A, 6.00% Due 7/1/26.
500,000 Palm Desert Financing Authority, California, Tax Allocation Revenue Bonds 2005 at 102 AAA Aaa
(Project Area No. 1, As Amended), Series 1995, 5.85% Due 4/1/25.
500,000 County of Sacramento (California), Airport System PFC and Subordinated 2006 at 102 AAA Aaa
Revenue Bonds, Series 1996D, 5.75% Due 7/1/26. (Original issue discount
bonds delivered on or about July 2, 1996 at a price of 94.945% of principal
amount.)
400,000 Sacramento Municipal Utility District (California), Electric Revenue Bonds, 2006 at 102 AAA Aaa
1996 Series J, 5.50% Due 8/15/21.
600,000 City of Walnut Creek, California, Certificates of Participation, Refunding 2004 at 102 AAA Aaa
Series 1994 (John Muir Medical Center), 5.00% Due 2/15/16.
----------------------------------------------------------------------------------------------------------------
$ 4,000,000 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 09/30/96.
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 $.04. 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 $ 100.69 4.90 % 5.15% 5.21% 5.18% 5.24% 5.20% 5.26 %
500 / $50,000 100.54 4.75 5.16 5.22 5.19 5.25 5.21 5.27
1,000 / $100,000 100.27 4.50 5.17 5.24 5.21 5.27 5.23 5.29
2,500 / $250,000 100.01 4.25 5.19 5.26 5.22 5.29 5.24 5.31
5,000 / $500,000 99.23 3.50 5.23 5.32 5.26 5.35 5.28 5.37
10,000 / $1,000,000 98.72 3.00 5.26 5.35 5.29 5.38 5.31 5.40
25,000 / $2,500,000 98.22 2.50 5.28 5.39 5.31 5.42 5.33 5.44
50,000 / $5,000,000 97.71 2.00 5.31 5.43 5.34 5.46 5.36 5.48
</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>
5.15 % 7.86% 8.24% 8.88% 9.36 %
5.16 7.88 8.26 8.90 9.38
5.17 7.89 8.27 8.91 9.40
5.19 7.92 8.30 8.95 9.44
5.23 7.98 8.37 9.02 9.51
5.26 8.03 8.42 9.07 9.56
5.28 8.06 8.45 9.10 9.60
5.31 8.11 8.50 9.16 9.65
</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
11/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 11/15/96 $ .4323
Monthly plan 12/15/96 .4323 $ 5.1883
Quarterly plan 2/15/97 1.3050
5/15/97 1.3050 5.2203
Semi-annual plan 5/15/97 2.6190
11/15/97 2.6190 5.2393
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.73 = 99.275
investment offering price # of units
(as of and accrued purchased
09/30/96) interest
99.275 X $5.1883 = $515.07
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN MASSACHUSETTS NUVEEN
INSURED UNIT TRUST 141 893
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
RATED: "AAA" NUVEEN TAX-FREE UNIT TRUSTS:
All bonds in this Unit Trust are insured by MBIA For the tax-sensitive, conservative investor.
Insurance Corporation. As a result, the bonds are - Double Tax-Free
rated Aaa by Moody's Investors Service, Inc. and - Dependable Income
both the bonds and the Units are rated AAA by - Diversified Portfolios
Standard & Poor's, the highest rating given by - Top-Rated Municipal Bonds
each agency. DATE OF DEPOSIT: October 1, 1996
ESTIMATED CURRENT RETURN:
5.11 - 5.32%
ESTIMATED LONG-TERM RETURN:
5.15 - 5.41%
</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 25.7 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.45 to $97.48 depending on the purchase amount
Cusip 670947 829 monthly payment plan
Numbers 670947 837 quarterly payment plan
670947 845 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 Massachusetts
</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)
2014-17 21.5%
2018-21 21.4%
2022-25 42.8%
2026+ 14.3%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 09/30/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.11%
Tax Equivalent Yield 9.04%
Treasury Bonds
Yield 6.90%
Tax Equivalent Yield 7.84%
Corporate Bonds
Yield 7.74%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 09/27/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 09/27/96. ASSUMES 43.5%
FEDERAL AND STATE INCOME TAX RATE AND A 12.0% 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.
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 MASSACHUSETTS 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 Massachusetts Bay Transportation Authority, General Transportation System 2005 at 101 AAA Aaa
Bonds, 1995 Series B, 5.375% Due 3/1/20. (Original issue discount bonds
delivered on or about October 3, 1995 at a price of 93.615% of principal
amount.)(General Obligation Bonds.)
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2004 at 102 AAA Aaa
New England Medical Center Hospitals Issue, Series G-1, 5.375% Due 7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2005 at 102 AAA Aaa
Newton-Wellesley Hospital Issue, Series E, 6.00% Due 7/1/25.
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2006 at 101 AAA Aaa
Williams College Issue, Series F, 5.50% Due 7/1/26. (Original issue
discount bonds delivered on or about June 20, 1996 at a price of 92.945% of
principal amount.)
250,000 Massachusetts Industrial Finance Agency, Revenue Bonds (College of the Holy 2006 at 102 AAA Aaa
Cross-1996 Issue), 5.50% Due 3/1/20.
275,000 Massachusetts Municipal Wholesale Electric Company, Power Supply System 2004 at 102 AAA Aaa
Revenue Bonds, 1994 Series B, 5.00% Due 7/1/17.
500,000 Massachusetts Water Resources Authority, General Revenue Bonds, 1995 Series 2005 at 102 AAA Aaa
B, 5.00% Due 12/1/25. (Original issue discount bonds delivered on or about
January 4, 1996 at a price of 94.801% of principal amount.)
475,000 City of Attleboro, Massachusetts, General Obligation Bonds, 5.125% Due 2005 at 102 AAA Aaa
12/1/15. (Original issue discount bonds delivered on or about December 7,
1995 at a price of 94.329% 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 09/30/96.
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 $.04. 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 $ 100.45 4.90 % 5.11% 5.15% 5.14% 5.18% 5.16% 5.20 %
500 / $50,000 100.29 4.75 5.12 5.15 5.15 5.18 5.17 5.20
1,000 / $100,000 100.03 4.50 5.13 5.18 5.16 5.21 5.18 5.23
2,500 / $250,000 99.77 4.25 5.14 5.19 5.17 5.22 5.19 5.24
5,000 / $500,000 98.99 3.50 5.18 5.25 5.21 5.28 5.23 5.30
10,000 / $1,000,000 98.48 3.00 5.21 5.29 5.24 5.32 5.26 5.34
25,000 / $2,500,000 97.98 2.50 5.24 5.33 5.27 5.36 5.29 5.38
50,000 / $5,000,000 97.48 2.00 5.26 5.36 5.30 5.39 5.32 5.41
</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 36.5% 39.5% 43.5% 47.0%
<C> <S> <C> <C> <C> <C>
5.11 % 8.05% 8.45% 9.04% 9.64 %
5.12 8.06 8.46 9.06 9.66
5.13 8.08 8.48 9.08 9.68
5.14 8.09 8.50 9.10 9.70
5.18 8.16 8.56 9.17 9.77
5.21 8.20 8.61 9.22 9.83
5.24 8.25 8.66 9.27 9.89
5.26 8.28 8.69 9.31 9.92
</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
11/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 11/15/96 $ .4275
Monthly plan 12/15/96 .4275 $ 5.1301
Quarterly plan 2/15/97 1.2897
5/15/97 1.2897 5.1621
Semi-annual plan 5/15/97 2.5902
11/15/97 2.5902 5.1811
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.49 = 99.512
investment offering price # of units
(as of and accrued purchased
09/30/96) interest
99.512 X $5.1301 = $510.51
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
