<PAGE>
NUVEEN
NUVEEN NORTH CAROLINA
TRADITIONAL UNIT TRUST 302 898
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.02 - 5.22% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.01 - 5.28% - Dependable Income
DATE OF DEPOSIT: November 6, 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 $102.08 to $99.06 depending on the purchase amount
Cusip 6710A2 763 monthly payment plan
Numbers 6710A2 771 quarterly payment plan
6710A2 789 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 71%
AA 29
---------
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)
2015-16 28.5%
2017-18 28.6%
2019-20 0.0%
2021-22 28.6%
2023+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 11/05/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.02%
Tax Equivalent Yield 8.51%
Treasury Bonds
Yield 6.65%
Tax Equivalent Yield 7.21%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.39%
</TABLE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 11/04/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 11/04/96. 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.
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>
-----------------------------------------------------------------------------------------------------------------
$ 500,000 North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, AAA Aaa
Refunding Series 1996 B, 5.875% Due 1/1/21. (When issued.) (MBIA Insured.) 2007 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 County of Onslow, North Carolina, General Obligation Bonds, Series 1996, AAA Aaa
5.30% Due 5/1/17. (When issued.) (MBIA Insured.) 2006 at 102
500,000 County of Pasquotank, North Carolina, Certificates of Participation (1995 AAA Aaa
Elizabeth City-Pasquotank Public Schools Project), 5.00% Due 6/1/15.
(Original issue discount bonds delivered on or about December 21, 1995 at a
price of 94.871% of principal amount.)(MBIA Insured.) 2006 at 102
500,000 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 6/1/17. (MBIA Insured.) 2006 at 102
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 6 BONDS FROM NORTH CAROLINA AND ONE BOND FROM THE TERRITORY OF PUERTO RICO.
</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 11/05/96.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.09. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 102.08 4.90 % 5.02% 5.01% 5.05% 5.04% 5.07% 5.06 %
500 / $50,000 101.92 4.75 5.03 5.02 5.06 5.05 5.08 5.06
1,000 / $100,000 101.65 4.50 5.04 5.04 5.07 5.07 5.09 5.09
2,500 / $250,000 101.39 4.25 5.05 5.05 5.09 5.08 5.10 5.10
5,000 / $500,000 100.60 3.50 5.09 5.12 5.13 5.15 5.14 5.17
10,000 / $1,000,000 100.08 3.00 5.12 5.16 5.15 5.19 5.17 5.21
25,000 / $2,500,000 99.57 2.50 5.15 5.20 5.18 5.23 5.20 5.25
50,000 / $5,000,000 99.06 2.00 5.17 5.23 5.20 5.26 5.22 5.28
</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>
5.02 % 7.49% 7.91% 8.51% 9.05 %
5.03 7.51 7.92 8.53 9.06
5.04 7.52 7.94 8.54 9.08
5.05 7.54 7.95 8.56 9.10
5.09 7.60 8.02 8.63 9.17
5.12 7.64 8.06 8.68 9.23
5.15 7.69 8.11 8.73 9.28
5.17 7.72 8.14 8.76 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
12/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 12/15/96 $ .3557
Monthly plan 1/15/97 .4269 $ 5.1239
Quarterly plan 2/15/97 .8592
5/15/97 1.2888 5.1559
Semi-annual plan 5/15/97 2.1555
11/15/97 2.5866 5.1749
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 102.17 = 97.876
investment offering price # of units
(as of and accrued purchased
11/05/96) interest
97.876 X $5.1239 = $501.51
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN FLORIDA NUVEEN
INSURED UNIT TRUST 236 898
- --------------------------------------------------------------------------------
<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 - 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: November 6, 1996
ESTIMATED CURRENT RETURN:
5.04 - 5.25%
ESTIMATED LONG-TERM RETURN:
5.10 - 5.36%
</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. Capital
gains are taxable.
Total Principal $3,500,000 in 35,000 units
Average Life 27.8 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.77 to $96.82 depending on the purchase amount
Cusip 6706H6 104 monthly payment plan
Numbers 6706H6 112 quarterly payment plan
6706H6 120 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 Florida
</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)
2020-21 14.3%
2022-23 19.0%
2024-25 35.1%
2026+ 31.6%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 11/05/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.04%
Tax Equivalent Yield 7.88%
Treasury Bonds
Yield 6.65%
Tax Equivalent Yield
Corporate Bonds
Yield 7.39%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 11/04/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 11/04/96. ASSUMES 36.0%
FEDERAL 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 FLORIDA 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>
----------------------------------------------------------------------------------------------------------------
$ 525,000 State of Florida, Department of Transportation, Turnpike Revenue Bonds, 2005 at 101 AAA Aaa
Series 1995A, 5.625% Due 7/1/25.
105,000 Dade County, Florida, Seaport General Obligation Refunding Bonds, Series 2006 at 102 AAA Aaa
1996 (General Obligation Bonds.), 5.125% Due 10/1/26.
500,000 Dade County, Florida, Water and Sewer System Revenue Bonds, Series 1995, 2005 at 102 AAA Aaa
5.75% Due 10/1/22.
205,000 Okeechobee Utility Authority (Florida), Utility System Acquisition and 2005 at 102 AAA Aaa
Improvement Revenue Bonds, Series 1995, 5.60% Due 10/1/25.
500,000 Orange County (Florida), Health Facilities Authority, Hospital Revenue 2005 at 102 AAA Aaa
Bonds, Series 1995 (Adventist Health System/Sunbelt Obligated Group), 5.25%
Due 11/15/20. (Original issue discount bonds delivered on or about June 8,
1995 at a price of 91.00% of principal amount.)
500,000 City of Sunrise, Florida, Utility System Revenue Bonds, Series 1996A, 5.75% 2006 at 101 AAA Aaa
Due 10/1/26.
165,000 City of Tampa, Florida, Utilities Tax Improvement Bonds, Series 1996, 0.00% No Optional AAA Aaa
Due 10/1/22. (Original issue discount bonds delivered on or about July 2, Call
1996 at a price of 20.034% of principal amount.)
500,000 Volusia County Educational Facilities Authority (Florida), Educational 2006 at 102 AAA Aaa
Facilities Revenue Bonds (Stetson University, Inc. Project), Series 1996A,
5.50% Due 6/1/26.
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 FROM FLORIDA AND ONE BOND FROM THE TERRITORY OF PUERTO RICO.
</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 11/05/96.
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 $.08. 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 $ 99.77 4.90 % 5.04% 5.10% 5.07% 5.13% 5.09% 5.15 %
500 / $50,000 99.61 4.75 5.05 5.11 5.08 5.14 5.10 5.16
1,000 / $100,000 99.35 4.50 5.06 5.13 5.10 5.16 5.12 5.18
2,500 / $250,000 99.09 4.25 5.08 5.14 5.11 5.17 5.13 5.19
5,000 / $500,000 98.32 3.50 5.12 5.20 5.15 5.23 5.17 5.25
10,000 / $1,000,000 97.81 3.00 5.14 5.24 5.18 5.27 5.20 5.29
25,000 / $2,500,000 97.31 2.50 5.17 5.27 5.20 5.30 5.22 5.32
50,000 / $5,000,000 96.82 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 28.0% 31.0% 36.0% 39.6%
<C> <S> <C> <C> <C> <C>
5.04 % 7.00% 7.30% 7.88% 8.34 %
5.05 7.01 7.32 7.89 8.36
5.06 7.03 7.33 7.91 8.38
5.08 7.06 7.36 7.94 8.41
5.12 7.11 7.42 8.00 8.48
5.14 7.14 7.45 8.03 8.51
5.17 7.18 7.49 8.08 8.56
5.20 7.22 7.54 8.13 8.61
</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
12/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 12/15/96 $ .3492
Monthly plan 1/15/97 .4191 $ 5.0308
Quarterly plan 2/15/97 .8436
5/15/97 1.2654 5.0628
Semi-annual plan 5/15/97 2.1165
11/15/97 2.5398 5.0818
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.85 = 100.150
investment offering price # of units
(as of and accrued purchased
11/05/96) interest
100.150 X $5.0308 = $503.83
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN MICHIGAN NUVEEN
INSURED UNIT TRUST 67 898
- --------------------------------------------------------------------------------
<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: November 6, 1996
ESTIMATED CURRENT RETURN:
5.06 - 5.26%
ESTIMATED LONG-TERM RETURN:
5.10 - 5.38%
</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 26.0 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.30 to $97.34 depending on the purchase amount
Cusip 67095E 526 monthly payment plan
Numbers 67095E 534 quarterly payment plan
67095E 542 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 30.7%
2021-22 26.4%
2023-24 14.3%
2025+ 28.6%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 11/05/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.06%
Tax Equivalent Yield 8.43%
Treasury Bonds
Yield 6.65%
Tax Equivalent Yield 7.09%
Corporate Bonds
Yield 7.39%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 11/04/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 11/04/96. 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.
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 Bonds (St. John 2006 at 102 AAA Aaa
Hospital and Medical Center), Series 1996A, 5.25% Due 5/15/26. (Original
issue discount bonds delivered on or about January 24, 1996 at a price of
94.219% of principal amount.)
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 State of Michigan, State Trunk Line Fund Bonds, Series 1996A, 5.625% Due 2006 at 101 AAA Aaa
11/1/20. (When issued.)
425,000 Alpena Public Schools, Counties of Alpena and Presque Isle, State of 2007 at 100 AAA Aaa
Michigan, 1996 School Building and Site Bonds, 5.625% Due 5/1/22. (General
Obligation Bonds.)
500,000 City of Detroit, Michigan, Water Supply System Revenue and Revenue 2004 at 102 AAA Aaa
Refunding Bonds, Series 1993, 5.00% Due 7/1/23. (Original issue discount
bonds delivered on or about November 1, 1993 at a price of 93.684% of
principal amount.)
75,000 Romulus Community Schools, County of Wayne, State of Michigan, 1993 No Optional AAA Aaa
Refunding Bonds, 0.00% Due 5/1/19. (Original issue discount bonds delivered Call
on or about May 4, 1993 at a price of 20.975% of principal amount.)(General
Obligation Bonds.)
500,000 Walled Lake Consolidated School District, County of Oakland, State of 2007 at 100 AAA Aaa
Michigan, 1996 School Building and Site and Refunding Bonds, 5.50% Due
5/1/22. (General Obligation Bonds.) (When issued.)
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 FROM MICHIGAN AND ONE BOND FROM THE TERRITORY OF PUERTO RICO.
</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 11/05/96.
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 $.08. 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 $ 100.30 4.90 % 5.06% 5.10% 5.09% 5.14% 5.11% 5.16 %
500 / $50,000 100.15 4.75 5.07 5.11 5.10 5.15 5.12 5.17
1,000 / $100,000 99.88 4.50 5.08 5.13 5.11 5.17 5.13 5.19
2,500 / $250,000 99.62 4.25 5.09 5.14 5.12 5.18 5.14 5.20
5,000 / $500,000 98.85 3.50 5.13 5.20 5.16 5.24 5.18 5.26
10,000 / $1,000,000 98.34 3.00 5.16 5.24 5.19 5.28 5.21 5.30
25,000 / $2,500,000 97.84 2.50 5.18 5.28 5.22 5.32 5.24 5.34
50,000 / $5,000,000 97.34 2.00 5.21 5.31 5.24 5.35 5.26 5.38
</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>
5.06 % 7.50% 7.78% 8.43% 8.96 %
5.07 7.51 7.80 8.45 8.97
5.08 7.53 7.82 8.47 8.99
5.09 7.54 7.83 8.48 9.01
5.13 7.60 7.89 8.55 9.08
5.16 7.64 7.94 8.60 9.13
5.18 7.67 7.97 8.63 9.17
5.21 7.72 8.02 8.68 9.22
</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
12/01/96.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 12/15/96 $ .3522
Monthly plan 1/15/97 .4227 $ 5.0727
Quarterly plan 2/15/97 .8502
5/15/97 1.2753 5.1047
Semi-annual plan 5/15/97 2.1345
11/15/97 2.5614 5.1237
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.38 = 99.621
investment offering price # of units
(as of and accrued purchased
11/05/96) interest
99.621 X $5.0727 = $505.35
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
