<PAGE>
NUVEEN ARIZONA NUVEEN
INSURED UNIT TRUST 50 914
- --------------------------------------------------------------------------------
<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: January 23, 1997
ESTIMATED CURRENT RETURN:
4.94 - 5.14%
ESTIMATED LONG-TERM RETURN:
4.97 - 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 21.9 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.95 to $97.96 depending on the purchase amount
Cusip 67101J 790 monthly payment plan
Numbers 67101J 808 quarterly payment plan
67101J 816 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)
2014-15 11.0%
2016-17 53.3%
2018-19 14.3%
2020-21 0.0%
2022+ 21.4%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 01/22/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.94%
Tax Equivalent Yield 8.17%
Treasury Bonds
Yield 6.78%
Tax Equivalent Yield 7.15%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.57%
</TABLE>
*COMPARES TRUST AS OF 01/22/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 01/21/97. 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.
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>
----------------------------------------------------------------------------------------------------------------
$ 365,000 City of Chandler, Arizona, Water and Sewer Revenue Bonds, Series 1996, 2006 at 101 AAA Aaa
5.25% Due 7/1/16.
250,000 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 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.)
385,000 City of Phoenix Civic Improvement Corporation (Arizona), Municipal 2007 at 100 AAA Aaa
Facilities Subordinated Excise Tax Revenue Refunding Bonds, Series 1997,
5.25% Due 7/1/15. (When issued.)
500,000 City of Phoenix, Arizona, Civic Improvement Corporation, Junior Lien Water 2006 at 100 AAA Aaa
System Revenue Bonds, Series 1996, 5.60% Due 7/1/17.
500,000 City of Scottsdale, Arizona, General Obligation Bonds, Series 1997, 5.00% 2005 at 101 AAA Aaa
Due 7/1/16. (Original issue discount bonds will be delivered on or about
January 30, 1997 at a price of 94.074% of principal amount.)(When issued.)
500,000 Washington Elementary School District No. 6 of Maricopa County, Arizona, 2006 at 101 AAA Aaa
School Improvement Bonds (Projects of 1996), Series A (1996), 5.00% Due
7/1/16. (Original issue discount bonds delivered on or about August 7, 1996
at a price of 91.393% of principal amount.)(General Obligation Bonds.)
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 ARIZONA 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 01/22/97.
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 $ 100.95 4.90 % 4.94% 4.97% 4.97% 5.01% 4.99% 5.03 %
500 / $50,000 100.79 4.75 4.95 4.98 4.98 5.02 5.00 5.04
1,000 / $100,000 100.52 4.50 4.96 5.00 4.99 5.04 5.01 5.06
2,500 / $250,000 100.26 4.25 4.97 5.02 5.00 5.06 5.02 5.08
5,000 / $500,000 99.48 3.50 5.01 5.08 5.04 5.12 5.06 5.14
10,000 / $1,000,000 98.97 3.00 5.04 5.12 5.07 5.16 5.09 5.18
25,000 / $2,500,000 98.46 2.50 5.06 5.16 5.09 5.20 5.11 5.22
50,000 / $5,000,000 97.96 2.00 5.09 5.20 5.12 5.24 5.14 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 31.0% 34.5% 39.5% 43.0%
<C> <S> <C> <C> <C> <C>
4.94 % 7.16% 7.54% 8.17% 8.67 %
4.95 7.17 7.56 8.18 8.68
4.96 7.19 7.57 8.20 8.70
4.97 7.20 7.59 8.21 8.72
5.01 7.26 7.65 8.28 8.79
5.04 7.30 7.69 8.33 8.84
5.06 7.33 7.73 8.36 8.88
5.09 7.38 7.77 8.41 8.93
</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
03/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 3/15/97 $ .5259
Monthly plan 4/15/97 .4152 $ 4.9844
Quarterly plan 5/15/97 .8358
8/15/97 1.2537 5.0164
Semi-annual plan 5/15/97 .8388
11/15/97 2.5164 5.0354
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.02 = 98.990
investment offering price # of units
(as of and accrued purchased
01/22/97) interest
98.990 X $4.9844 = $493.41
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 280 914
- --------------------------------------------------------------------------------
<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: January 23, 1997
ESTIMATED CURRENT RETURN:
5.08 - 5.29%
ESTIMATED LONG-TERM RETURN:
5.17 - 5.45%
</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 25.9 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.06 to $96.13 depending on the purchase amount
Cusip 67065A 314 monthly payment plan
Numbers 67065A 322 quarterly payment plan
67065A 330 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)
2017-19 28.6%
2020-22 14.3%
2023-25 14.3%
2026+ 37.1%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 01/22/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.08%
Tax Equivalent Yield 8.76%
Treasury Bonds
Yield 6.78%
Tax Equivalent Yield 7.48%
Corporate Bonds
Yield 7.57%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 01/22/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 01/21/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 300,000 California Educational Facilities Authority, Revenue Bonds (Occidental 2007 at 102 AAA Aaa
College), Series 1997, 5.70% Due 10/1/27.
500,000 California Educational Facilities Authority Revenue Bonds (Santa Clara 2006 at 102 AAA Aaa
University), Series 1996, 5.75% Due 9/1/26.
500,000 California Health Facilities Financing Authority, Insured Hospital Revenue 2006 at 102 AAA Aaa
Refunding Bonds (Children's Hospital-San Diego), Series 1996, 5.375% Due
7/1/20.
500,000 State Public Works Board of the State of California, Lease Revenue 2006 at 102 AAA Aaa
Refunding Bonds (Department of Corrections), 1996 Series B, California
State Prison-Monterey County (Soledad II), 5.625% Due 11/1/19.
500,000 Los Angeles County Metropolitan Transportation Authority (California), 2006 at 101 AAA Aaa
Sales Tax Revenue Refunding Bonds, Proposition A-2nd Tier, Series 1996,
5.75% Due 7/1/18.
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 Public Facilities Financing Authority of the City of San Diego 2005 at 101 AAA Aaa
(California), Sewer Revenue Bonds, Series 1995, 5.00% Due 5/15/25.
200,000 Sulphur Springs Union School District (County of Los Angeles, California), No Optional AAA Aaa
General Obligation Bonds, Election 1991, Series A, 0.00% Due 9/1/16. Call
(Original issue discount bonds delivered on or about September 18, 1991 at
a price of 17.963% of principal amount.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 8 BONDS FROM CALIFORNIA.
</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 01/22/97.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.07. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 99.06 4.90 % 5.08% 5.17% 5.11% 5.21% 5.13% 5.23 %
500 / $50,000 98.91 4.75 5.09 5.18 5.12 5.22 5.14 5.24
1,000 / $100,000 98.65 4.50 5.10 5.20 5.13 5.24 5.15 5.26
2,500 / $250,000 98.39 4.25 5.11 5.21 5.14 5.25 5.16 5.27
5,000 / $500,000 97.63 3.50 5.15 5.27 5.18 5.31 5.20 5.33
10,000 / $1,000,000 97.12 3.00 5.18 5.31 5.21 5.35 5.23 5.37
25,000 / $2,500,000 96.63 2.50 5.21 5.35 5.24 5.39 5.26 5.41
50,000 / $5,000,000 96.13 2.00 5.23 5.39 5.27 5.43 5.29 5.45
</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
5.10 7.79 8.16 8.79 9.27
5.11 7.80 8.18 8.81 9.29
5.15 7.86 8.24 8.88 9.36
5.18 7.91 8.29 8.93 9.42
5.21 7.95 8.34 8.98 9.47
5.23 7.98 8.37 9.02 9.51
</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
03/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 3/15/97 $ .5308
Monthly plan 4/15/97 .4191 $ 5.0297
Quarterly plan 5/15/97 .8436
8/15/97 1.2654 5.0617
Semi-annual plan 5/15/97 .8466
11/15/97 2.5398 5.0807
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.13 = 100.877
investment offering price # of units
(as of and accrued purchased
01/22/97) interest
100.877 X $5.0297 = $507.38
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN FLORIDA NUVEEN
INSURED UNIT TRUST 239 914
- --------------------------------------------------------------------------------
<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: January 23, 1997
ESTIMATED CURRENT RETURN:
5.10 - 5.30%
ESTIMATED LONG-TERM RETURN:
5.16 - 5.42%
</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 27.5 years
Call Protection Earliest ordinary optional call is 2006
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.08 to $97.12 depending on the purchase amount
Cusip 6706H6 195 monthly payment plan
Numbers 6706H6 203 quarterly payment plan
6706H6 211 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 28.6%
2022-23 14.3%
2024-25 14.3%
2026+ 42.8%
The earliest ordinary optional call date is 2006
YIELD COMPARISON AS OF 01/22/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.10%
Tax Equivalent Yield 7.97%
Treasury Bonds
Yield 6.78%
Tax Equivalent Yield
Corporate Bonds
Yield 7.57%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 01/22/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 01/21/97. 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 Dade County, Florida, Aviation Revenue Bonds, Series 1996B, 5.60% Due 2006 at 102 AAA Aaa
10/1/26.
500,000 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 City of Gainesville, Florida, Utilities System Revenue Bonds, 1996 Series 2006 at 102 AAA Aaa
A, 5.20% Due 10/1/22.
500,000 City of Lakeland, Florida, Hospital Revenue Refunding Bonds (Lakeland 2006 at 102 AAA Aaa
Regional Medical Center Project), Series 1996, 5.25% Due 11/15/25.
500,000 Okaloosa County Gas District (Florida), Gas System Revenue Bonds, Series 2006 at 101 AAA Aaa
1996, 5.50% Due 10/1/21.
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 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.
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS FROM FLORIDA.
</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 01/22/97.
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 $ 100.08 4.90 % 5.10% 5.16% 5.13% 5.19% 5.15% 5.21 %
500 / $50,000 99.93 4.75 5.10 5.16 5.14 5.19 5.16 5.21
1,000 / $100,000 99.66 4.50 5.12 5.19 5.15 5.22 5.17 5.24
2,500 / $250,000 99.40 4.25 5.13 5.20 5.16 5.23 5.18 5.25
5,000 / $500,000 98.63 3.50 5.17 5.26 5.20 5.29 5.22 5.31
10,000 / $1,000,000 98.12 3.00 5.20 5.30 5.23 5.33 5.25 5.35
25,000 / $2,500,000 97.62 2.50 5.23 5.33 5.26 5.36 5.28 5.38
50,000 / $5,000,000 97.12 2.00 5.25 5.37 5.28 5.40 5.30 5.42
</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>
5.10 % 7.08% 7.39% 7.97% 8.44 %
5.10 7.08 7.39 7.97 8.44
5.12 7.11 7.42 8.00 8.48
5.13 7.13 7.43 8.02 8.49
5.17 7.18 7.49 8.08 8.56
5.20 7.22 7.54 8.13 8.61
5.23 7.26 7.58 8.17 8.66
5.25 7.29 7.61 8.20 8.69
</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
03/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 3/15/97 $ .5380
Monthly plan 4/15/97 .4248 $ 5.1007
Quarterly plan 5/15/97 .8550
8/15/97 1.2825 5.1327
Semi-annual plan 5/15/97 .8586
11/15/97 2.5758 5.1517
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.15 = 99.850
investment offering price # of units
(as of and accrued purchased
01/22/97) interest
99.850 X $5.1007 = $509.30
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN PENNSYLVANIA NUVEEN
INSURED UNIT TRUST 221 914
- --------------------------------------------------------------------------------
<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: January 23, 1997
ESTIMATED CURRENT RETURN:
5.11 - 5.32%
ESTIMATED LONG-TERM RETURN:
5.17 - 5.44%
</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 26.7 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.81 to $96.86 depending on the purchase amount
Cusip 6706H8 852 monthly payment plan
Numbers 6706H8 860 quarterly payment plan
6706H8 878 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)
2016-18 23.2%
2019-21 5.4%
2022-24 14.3%
2025-27 42.8%
2028+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 01/22/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.11%
Tax Equivalent Yield 8.24%
Treasury Bonds
Yield 6.78%
Tax Equivalent Yield 6.98%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.57%
</TABLE>
*COMPARES TRUST AS OF 01/22/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 01/21/97. 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.
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>
----------------------------------------------------------------------------------------------------------------
$ 310,000 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 6/15/16.
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.
500,000 Lehigh County Industrial Development Authority, Pollution Control Revenue 2005 at 102 AAA Aaa
Refunding Bonds, 1995 Series A (Pennsylvania Power & Light Company
Project), 6.15% Due 8/1/29.
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.
500,000 Luzerne County Flood Protection Authority (Pennsylvania), Guaranteed Flood 2006 at 100 AAA Aaa
Protection Bonds, Series of 1996, 5.65% Due 7/15/26. (General Obligation
Bonds.)
190,000 Montour School District (Allegheny County, Pennsylvania), General No Optional AAA Aaa
Obligation Bonds, Series B of 1993, 0.00% Due 1/1/19. (Original issue Call
discount bonds delivered on or about August 19, 1993 at a price of 22.598%
of principal amount.)
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.
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 8 BONDS FROM PENNSYLVANIA.
</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 01/22/97.
divided by the offering price. Estimated long-term As of this date, Units are offered at the public
return is a measure of the return to the investor offering price plus accrued interest to the
expected to be earned over the estimated life of settlement date of $.07. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
</TABLE>
<TABLE>
<CAPTION>
Public Estimated Return (CURRENT/Long Term)
Breakpoints Offering Sales -------------------------------------------------
Units / Dollars Price Charge Monthly Plan Quarterly Plan Semi-Annual Plan
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 / $5,000 $ 99.81 4.90 % 5.11% 5.17% 5.14% 5.20% 5.16% 5.22 %
500 / $50,000 99.65 4.75 5.12 5.18 5.15 5.21 5.17 5.23
1,000 / $100,000 99.39 4.50 5.13 5.20 5.16 5.23 5.18 5.25
2,500 / $250,000 99.13 4.25 5.14 5.22 5.18 5.25 5.19 5.27
5,000 / $500,000 98.36 3.50 5.18 5.28 5.22 5.31 5.24 5.33
10,000 / $1,000,000 97.86 3.00 5.21 5.31 5.24 5.34 5.26 5.36
25,000 / $2,500,000 97.35 2.50 5.24 5.35 5.27 5.38 5.29 5.40
50,000 / $5,000,000 96.86 2.00 5.26 5.39 5.30 5.42 5.32 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 30.0% 33.0% 38.0% 41.5%
<C> <S> <C> <C> <C> <C>
5.11 % 7.30% 7.63% 8.24% 8.74 %
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
5.18 7.40 7.73 8.35 8.85
5.21 7.44 7.78 8.40 8.91
5.24 7.49 7.82 8.45 8.96
5.26 7.51 7.85 8.48 8.99
</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
03/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 3/15/97 $ .5380
Monthly plan 4/15/97 .4248 $ 5.0987
Quarterly plan 5/15/97 .8550
8/15/97 1.2825 5.1307
Semi-annual plan 5/15/97 .8580
11/15/97 2.5740 5.1497
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.88 = 100.120
investment offering price # of units
(as of and accrued purchased
01/22/97) interest
100.120 X $5.0987 = $510.48
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
