<PAGE>
NUVEEN FLORIDA NUVEEN
INSURED UNIT TRUST 238 906
- --------------------------------------------------------------------------------
<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: December 17, 1996
ESTIMATED CURRENT RETURN:
4.97 - 5.18%
ESTIMATED LONG-TERM RETURN:
5.03 - 5.30%
</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 24.3 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.25 to $97.29 depending on the purchase amount
Cusip 6706H6 161 monthly payment plan
Numbers 6706H6 179 quarterly payment plan
6706H6 187 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)
2017-18 14.3%
2019-20 28.6%
2021-22 42.8%
2023-24 0.0%
2025+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 12/16/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.97%
Tax Equivalent Yield 7.77%
Treasury Bonds
Yield 6.56%
Tax Equivalent Yield
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.40%
</TABLE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 12/13/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 12/13/96. 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>
----------------------------------------------------------------------------------------------------------------
$ 500,000 State of Florida, Full Faith and Credit, State Board of Education, Public 2005 at 101 AAA Aaa
Education Capital Outlay Refunding Bonds, 1995 Series D, 4.75% Due 6/1/22.
(Original issue discount bonds delivered on or about December 28, 1995 at a
price of 93.028% of principal amount.)(General Obligation Bonds.)
500,000 State of Florida, Board of Regents, Florida State University, Housing 2006 at 101 AAA Aaa
Facility Revenue Bonds, Series 1996, 5.375% Due 5/1/21. (When issued.)
500,000 Dade County, Florida, Water and Sewer System Revenue Bonds, Series 1995, 2005 at 102 AAA Aaa
5.50% Due 10/1/25. (Original issue discount bonds delivered on or about
October 19, 1995 at a price of 94.942% of principal amount.)
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 Reedy Creek Improvement District (Florida), (Located in Orange and Osceola 2005 at 101 AAA Aaa
Counties), Ad Valorem Tax Bonds, Series 1995C, 5.00% Due 6/1/19. (General
Obligation Bonds.)
500,000 South Broward Hospital District (Florida), Hospital Refunding Revenue 2006 at 102 AAA Aaa
Bonds, Series 1996, 5.25% Due 5/1/21.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1996 (General 2006 at 101 AAA Aaa
Obligation Bonds.), 5.50% Due 7/1/17. 1/2
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 6 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 12/16/96.
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 $ 100.25 4.90 % 4.97% 5.03% 5.01% 5.06% 5.03% 5.08 %
500 / $50,000 100.09 4.75 4.98 5.04 5.01 5.07 5.03 5.09
1,000 / $100,000 99.83 4.50 5.00 5.06 5.03 5.09 5.05 5.11
2,500 / $250,000 99.57 4.25 5.01 5.07 5.04 5.10 5.06 5.12
5,000 / $500,000 98.80 3.50 5.05 5.14 5.08 5.17 5.10 5.18
10,000 / $1,000,000 98.29 3.00 5.07 5.17 5.11 5.20 5.13 5.22
25,000 / $2,500,000 97.78 2.50 5.10 5.21 5.13 5.24 5.15 5.26
50,000 / $5,000,000 97.29 2.00 5.13 5.25 5.16 5.28 5.18 5.30
</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>
4.97 % 6.90% 7.20% 7.77% 8.23 %
4.98 6.92 7.22 7.78 8.25
5.00 6.94 7.25 7.81 8.28
5.01 6.96 7.26 7.83 8.29
5.05 7.01 7.32 7.89 8.36
5.07 7.04 7.35 7.92 8.39
5.10 7.08 7.39 7.97 8.44
5.13 7.13 7.43 8.02 8.49
</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
02/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 2/15/97 $ .6094
Monthly plan 3/15/97 .4155 $ 4.9871
Quarterly plan 5/15/97 1.2546
8/15/97 1.2546 5.0191
Semi-annual plan 5/15/97 1.2591
11/15/97 2.5182 5.0381
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.29 = 99.710
investment offering price # of units
(as of and accrued purchased
12/16/96) interest
99.710 X $4.9871 = $497.26
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN NEW JERSEY NUVEEN
INSURED UNIT TRUST 215 906
- --------------------------------------------------------------------------------
<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: December 17, 1996
ESTIMATED CURRENT RETURN:
4.99 - 5.20%
ESTIMATED LONG-TERM RETURN:
5.00 - 5.26%
</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 25.6 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $102.16 to $99.13 depending on the purchase amount
Cusip 6706LA 704 monthly payment plan
Numbers 6706LA 712 quarterly payment plan
6706LA 720 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 New Jersey
</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)
2017-19 28.5%
2020-22 14.3%
2023-25 28.6%
2026+ 28.6%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 12/16/96*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.99%
Tax Equivalent Yield 8.32%
Treasury Bonds
Yield 6.56%
Tax Equivalent Yield 7.01%
Corporate Bonds
Yield 7.40%
</TABLE>
<PAGE>
*COMPARES TRUST WITH 30-YEAR TREASURY BONDS AS OF 12/13/96 AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 12/13/96. ASSUMES 40.0%
FEDERAL AND STATE INCOME TAX RATE AND A 6.37% 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 NEW JERSEY 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 New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey 2005 at 101 AAA Aaa
Institute of Technology, Series 1995 E, 5.375% Due 7/1/20.
500,000 New Jersey Educational Facilities Authority, Revenue Bonds, The Richard 2006 at 101 AAA Aaa
Stockton College of New Jersey Issue, Series 1996 F, 5.40% Due 7/1/27.
500,000 The Port Authority of New York and New Jersey, Consolidated Bonds, One 2006 at 101 AAA Aaa
Hundred Fourth Series, 4.75% Due 1/15/26. (Original issue discount bonds
delivered on or about February 14, 1996 at a price of 91.788% of principal
amount.)
500,000 The Essex County Improvement Authority (Essex County, New Jersey), County 2006 at 102 AAA Aaa
of Essex General Obligation Lease Revenue Refunding Bonds, Series 1996
(County Jail and Youth House Projects), 5.35% Due 12/1/24.
500,000 Gloucester County Utilities Authority, New Jersey, Sewer Revenue Refunding 2006 at 101 AAA Aaa
Bonds, 1996 Series, 5.45% Due 1/1/24. (General Obligation Bonds.)
500,000 The Board of Education of the Borough of Highland Park, in the County of 2007 at 101 AAA Aaa
Middlesex, New Jersey, School Refunding Bonds (New Jersey School Bond
Reserve Act, P.L. 1980 c.72), 5.625% Due 2/15/17. (General Obligation
Bonds.) (When issued.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1996 (General 2006 at 101 AAA Aaa
Obligation Bonds.), 5.50% Due 7/1/17. 1/2
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 6 BONDS FROM NEW JERSEY 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 12/16/96.
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 $ 102.16 4.90 % 4.99% 5.00% 5.03% 5.03% 5.04% 5.05 %
500 / $50,000 101.99 4.75 5.00 5.01 5.03 5.03 5.05 5.05
1,000 / $100,000 101.73 4.50 5.02 5.03 5.05 5.06 5.07 5.08
2,500 / $250,000 101.46 4.25 5.03 5.04 5.06 5.07 5.08 5.09
5,000 / $500,000 100.67 3.50 5.07 5.10 5.10 5.13 5.12 5.15
10,000 / $1,000,000 100.15 3.00 5.10 5.14 5.13 5.17 5.15 5.19
25,000 / $2,500,000 99.64 2.50 5.12 5.18 5.15 5.21 5.17 5.23
50,000 / $5,000,000 99.13 2.00 5.15 5.21 5.18 5.24 5.20 5.26
</TABLE>
HOW TO DETERMINE YOUR
TAXABLE EQUIVALENT YIELD
The table shows the approximate yield an investor must get from a taxable
investment to match the estimated current return from this Unit Trust.
<TABLE>
<CAPTION>
Taxable Equivalent Yield (by tax
UNIT TRUST bracket)
RETURN 32.0% 35.0% 40.0% 43.5%
<C> <S> <C> <C> <C> <C>
4.99 % 7.34% 7.68% 8.32% 8.83 %
5.00 7.35 7.69 8.33 8.85
5.02 7.38 7.72 8.37 8.88
5.03 7.40 7.74 8.38 8.90
5.07 7.46 7.80 8.45 8.97
5.10 7.50 7.85 8.50 9.03
5.12 7.53 7.88 8.53 9.06
5.15 7.57 7.92 8.58 9.12
</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
02/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 2/15/97 $ .6234
Monthly plan 3/15/97 .4251 $ 5.1028
Quarterly plan 5/15/97 1.2834
8/15/97 1.2834 5.1348
Semi-annual plan 5/15/97 1.2879
11/15/97 2.5758 5.1538
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 102.20 = 97.847
investment offering price # of units
(as of and accrued purchased
12/16/96) interest
97.847 X $5.1028 = $499.29
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
