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NUVEEN NATIONAL NUVEEN
INSURED UNIT TRUST 338 919
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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: February 14, 1997
ESTIMATED CURRENT RETURN:
5.13 - 5.33%
ESTIMATED LONG-TERM RETURN:
5.19 - 5.45%
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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.
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QUICK FACTS ABOUT THIS UNIT TRUST
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Tax Status Income is exempt from federal income tax but may
be subject to state and local tax. Capital gains
are taxable.
Total Principal $7,500,000 in 75,000 units
Average Life 27.7 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.94 to $97.95 depending on the purchase amount
Cusip 6710A5 550 monthly payment plan
Numbers 6710A5 568 quarterly payment plan
6710A5 576 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 all states
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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 $50,000.
Redemptions Units can be redeemed on any business day at no
charge. Units are redeemed at their current market
value.
Reinvestment Interest income and returned principal can be
reinvested with no sales charge into Nuveen tax-
free mutual or money market funds. For more
information obtain a prospectus.
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PORTFOLIO INCOME DIVERSIFICATION
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Colorado 10.6 % Illinois 10.4 % Massachusetts 5.0 %
North Dakota 10.4 New York 11.1 Oklahoma 14.2
Pennsylvania 10.4 Washington 10.4 Wisconsin 17.5
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MATURITY DATES (Description of Chart)
2018-19 0.0%
2020-21 10.0%
2022-23 0.0%
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2024-25 48.0%
2026+ 30.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 02/13/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.13%
Tax Equivalent Yield 8.02%
Treasury Bonds
Yield 6.70%
Tax Equivalent Yield 7.05%
Corporate Bonds
Yield 7.49%
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*COMPARES TRUST AS OF 02/13/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 02/12/97. ASSUMES 36.0%
FEDERAL AND 5.0% STATE INCOME TAX RATES. TREASURY BONDS ARE SUBJECT TO FEDERAL
BUT NOT STATE INCOME TAXES; CORPORATE BONDS ARE GENERALLY SUBJECT TO BOTH.
TREASURY BONDS, UNLIKE MUNICIPAL BONDS, ARE GUARANTEED BY THE U.S. GOVERNMENT.
CALL 1.800.257.8787 FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION
INCLUDING CHARGES AND EXPENSES.
READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
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BONDS THIS NATIONAL INSURED UNIT TRUST CONTAINS
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RATINGS
PRINCIPAL EARLIEST CALL ----------
AMOUNT BOND ISSUE DATE AND PRICE S&P MOODY'S
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$ 750,000 City and County of Denver, Colorado, Airport System Revenue Bonds, Series AAA Aaa
1995A, 5.70% Due 11/15/25. 2005 at 102
750,000 Chicago Park District, Illinois, General Obligation Unlimited Tax Park AAA Aaa
Bonds, Series 1996 (Personal Property Replacement Tax Alternate Revenue
Source), 5.60% Due 1/1/21. 2007 at 101
400,000 Metropolitan Pier and Exposition Authority (Illinois), McCormick Place AAA Aaa
Expansion Project Refunding Bonds, Series 1996A, 0.00% Due 12/15/17.
(Original issue discount bonds delivered on or about October 8, 1996 at a
price of 27.711% of principal amount.) No Optional
Call
350,000 Massachusetts Bay Transportation Authority, General Transportation System AAA Aaa
Bonds, 1995 Series A, 5.75% Due 3/1/25. (General Obligation Bonds.) 2005 at 102
750,000 Dormitory Authority of the State of New York, State University Educational AAA Aaa
Facilities Revenue Bonds, Series 1995A, 6.00% Due 5/15/25. 2005 at 102
750,000 City of Grand Forks, North Dakota, Sales Tax Revenue Bonds (The Aurora AAA Aaa
Project), Series 1997A, 5.625% Due 12/15/29. (When issued.) 2007 at 100
1,000,000 Tulsa Metropolitan Utility Authority (Tulsa, Oklahoma), Utility Revenue AAA Aaa
Bonds, Series 1995, 5.75% Due 9/1/25. 2005 at 102
750,000 Lehigh County (Pennsylvania), General Purpose Authority, Hospital Revenue AAA Aaa
Bonds (Lehigh Valley Hospital), Series B of 1995, 5.625% Due 7/1/25. 2005 at 102
750,000 Public Utility District No. 2 of Grant County, Washington, Priest Rapids AAA Aaa
Hydroelectric Development, Second Series Revenue Bonds, 1996A, 5.625% Due
1/1/26. 2006 at 102
750,000 Wisconsin Health and Educational Facilities Authority, Revenue Bonds, AAA Aaa
Series 1996 (The Medical College of Wisconsin, Inc. Project), 5.50% Due
12/1/26. 2006 at 102
500,000 Wisconsin Health and Educational Facilities Authority, Revenue Bonds, AAA Aaa
Series 1996 (Meriter Hospital, Inc.), 6.00% Due 12/1/17. 2006 at 102
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$ 7,500,000 TOTAL 11 BONDS FROM 9 STATES.
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HOW TO DETERMINE YOUR INCOME AND YIELD
HOW TO CALCULATE YOUR RETURN
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The estimated current return is the net income the sales charge, and returns are as of 02/13/97.
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 $.08. Returns and prices will
the Unit Trust. The public offering prices, which fluctuate.
include
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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 $ 100.94 4.90 % 5.13% 5.19% 5.16% 5.22% 5.18% 5.24 %
500 / $50,000 100.78 4.75 5.13 5.20 5.17 5.23 5.18 5.25
1,000 / $100,000 100.51 4.50 5.15 5.22 5.18 5.25 5.20 5.27
2,500 / $250,000 100.25 4.25 5.16 5.23 5.19 5.26 5.21 5.28
5,000 / $500,000 99.47 3.50 5.20 5.29 5.23 5.32 5.25 5.34
10,000 / $1,000,000 98.96 3.00 5.23 5.33 5.26 5.36 5.28 5.38
25,000 / $2,500,000 98.45 2.50 5.26 5.36 5.29 5.39 5.31 5.41
50,000 / $5,000,000 97.95 2.00 5.28 5.40 5.32 5.43 5.33 5.45
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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.
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Taxable Equivalent Yield (by
UNIT TRUST tax bracket)
RETURN 28.0% 31.0% 36.0% 39.6%
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5.13 % 7.13% 7.43% 8.02% 8.49%
5.13 7.13 7.43 8.02 8.49
5.15 7.15 7.46 8.05 8.53
5.16 7.17 7.48 8.06 8.54
5.20 7.22 7.54 8.13 8.61
5.23 7.26 7.58 8.17 8.66
5.26 7.31 7.62 8.22 8.71
5.28 7.33 7.65 8.25 8.74
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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.
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Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
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Initial partial
payment (all
plans) 3/15/97 $ .2427
Monthly plan 4/15/97 .4311 $ 5.1743
Quarterly plan 5/15/97 .8676
8/15/97 1.3014 5.2063
Semi-annual plan 5/15/97 .8706
11/15/97 2.6118 5.2253
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
02/13/97) interest
98.990 X $5.1743 = $512.20
# of units annual income annual income
purchased per unit
(monthly plan)
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