<PAGE>
NUVEEN NATIONAL NUVEEN
INSURED UNIT TRUST 339 922
- --------------------------------------------------------------------------------
<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: February 27, 1997
ESTIMATED CURRENT RETURN:
5.14 - 5.35%
ESTIMATED LONG-TERM RETURN:
5.20 - 5.46%
</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 but may
be subject to state and local tax. Capital gains
are taxable.
Total Principal $7,500,000 in 75,000 units
Average Life 28.4 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.03 to $97.07 depending on the purchase amount
Cusip 6710A5 584 monthly payment plan
Numbers 6710A5 592 quarterly payment plan
6710A5 600 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
</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>
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PORTFOLIO INCOME DIVERSIFICATION
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Colorado 10.4 % Florida 10.5 % Georgia 1.2 %
Illinois 19.7 Nevada 7.1 New Hampshire 10.7
North Dakota 10.5 Pennsylvania 4.7 Wisconsin 25.2
</TABLE>
<TABLE>
<S> <C>
MATURITY DATES (Description of Chart)
2017-19 6.7%
2020-22 34.0%
2023-25 4.7%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2026-28 34.6%
2029+ 20.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 02/26/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.14%
Tax Equivalent Yield 8.03%
Treasury Bonds
Yield 6.65%
Tax Equivalent Yield 7.00%
Corporate Bonds
Yield 7.44%
</TABLE>
*COMPARES TRUST AS OF 02/26/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 02/25/97. 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.
<PAGE>
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BONDS THIS NATIONAL 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>
----------------------------------------------------------------------------------------------------------------
$ 750,000 City and County of Denver, Colorado, Airport System Revenue Bonds, Series AAA Aaa
1995A, 5.60% Due 11/15/20. 2005 at 102
750,000 City of Lakeland, Florida, Electric and Water Revenue Bonds, Series 1996, AAA Aaa
5.625% Due 10/1/36. 2006 at 102
100,000 The Hospital Authority of Clarke County, Georgia, Hospital Revenue AAA Aaa
Certificates (Athens Regional Medical Center Project), Series 1996, 5.00%
Due 1/1/27. (Original issue discount bonds delivered on or about December
18, 1996 at a price of 90.504% of principal amount.)(General Obligation
Bonds.) 2007 at 100
750,000 Illinois Health Facilities Authority, Revenue Refunding Bonds, Series 1996B AAA Aaa
(Decatur Memorial Hospital), 5.375% Due 11/15/21. (Original issue discount
bonds delivered on or about December 5, 1996 at a price of 94.428% of
principal amount.) 2006 at 102
700,000 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
350,000 Metropolitan Pier and Exposition Authority (Illinois), McCormick Place AAA Aaa
Expansion Project Bonds, Series 1992A, 0.00% Due 6/15/20. (Original issue
discount bonds delivered on or about January 5, 1993 at a price of 16.171%
of principal amount.) No Optional
Call
500,000 Airport Authority of Washoe County, Reno, Nevada, Airport Revenue Bonds, AAA Aaa
Series 1996A, 5.70% Due 7/1/26. 2006 at 102
750,000 New Hampshire Higher Educational and Health Facilities Authority, Revenue AAA Aaa
Bonds, Saint Anselm College Issue, Series 1996, 5.75% Due 7/1/26. 2006 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
350,000 Allegheny County Hospital Development Authority (Pennsylvania), Health AAA Aaa
Center Revenue Bonds, Series of 1995 (University of Pittsburgh Medical
Center System), 5.375% Due 12/1/25. 2005 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
1,000,000 Wisconsin Health and Educational Facilities Authority, Revenue Bonds, AAA Aaa
Series 1996 (Meriter Hospital, Inc.), 2006 at 102
500M-6.00% Due 12/1/17,
500M-6.00% Due 12/1/26.
----------------------------------------------------------------------------------------------------------------
$ 7,500,000 TOTAL 12 BONDS FROM 9 STATES.
</TABLE>
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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 02/26/97.
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 $.10. 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 $ 100.03 4.90 % 5.14% 5.20% 5.17% 5.23% 5.19% 5.25 %
500 / $50,000 99.87 4.75 5.15 5.21 5.18 5.24 5.20 5.26
1,000 / $100,000 99.61 4.50 5.16 5.23 5.19 5.26 5.21 5.28
2,500 / $250,000 99.35 4.25 5.17 5.25 5.21 5.28 5.23 5.30
5,000 / $500,000 98.58 3.50 5.22 5.30 5.25 5.33 5.27 5.35
10,000 / $1,000,000 98.07 3.00 5.24 5.34 5.28 5.37 5.29 5.39
25,000 / $2,500,000 97.57 2.50 5.27 5.38 5.30 5.41 5.32 5.43
50,000 / $5,000,000 97.07 2.00 5.30 5.41 5.33 5.44 5.35 5.46
</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
UNIT TRUST tax bracket)
RETURN 28.0% 31.0% 36.0% 39.6%
<C> <S> <C> <C> <C> <C>
5.14 % 7.14% 7.45% 8.03% 8.51%
5.15 7.15 7.46 8.05 8.53
5.16 7.17 7.48 8.06 8.54
5.17 7.18 7.49 8.08 8.56
5.22 7.25 7.57 8.16 8.64
5.24 7.28 7.59 8.19 8.68
5.27 7.32 7.64 8.23 8.73
5.30 7.36 7.68 8.28 8.77
</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
04/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 4/15/97 $ .4855
Monthly plan 5/15/97 .4284 $ 5.1413
Quarterly plan 5/15/97 .4311
8/15/97 1.2933 5.1733
Semi-annual plan 5/15/97 .4326
11/15/97 2.5956 5.1923
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.13 = 99.870
investment offering price # of units
(as of and accrued purchased
02/26/97) interest
99.870 X $5.1413 = $513.46
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 282 922
- --------------------------------------------------------------------------------
<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: February 27, 1997
ESTIMATED CURRENT RETURN:
5.04 - 5.25%
ESTIMATED LONG-TERM RETURN:
5.10 - 5.37%
</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 27.6 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.44 to $97.47 depending on the purchase amount
Cusip 67065A 371 monthly payment plan
Numbers 67065A 389 quarterly payment plan
67065A 397 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)
2015-17 1.8%
2018-20 15.0%
2021-23 20.0%
2024-26 48.2%
2027+ 15.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 02/26/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.04%
Tax Equivalent Yield 8.69%
Treasury Bonds
Yield 6.65%
Tax Equivalent Yield 7.33%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.44%
</TABLE>
*COMPARES TRUST AS OF 02/26/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 02/25/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 500,000 State of California, Various Purpose General Obligation Bonds, 5.375% Due 2006 at 101 AAA Aaa
6/1/26. (Original issue discount bonds delivered on or about November 7,
1996 at a price of 94.694% of principal amount.)
600,000 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.
600,000 State of California, Department of Water Resources, Central Valley Project, 2006 at 101 AAA Aaa
Water System Revenue Bonds, Series Q, 5.375% Due 12/1/27. 1/2
200,000 County of Contra Costa, California, Certificates of Participation 2007 at 102 AAA Aaa
(Merrithew Memorial Hospital Replacement Project), Refunding Series of
1997, 5.50% Due 11/1/22.
600,000 Redevelopment Agency of the City of El Centro, California (Imperial 2006 at 102 AAA Aaa
County), El Centro Redevelopment Project, Tax Allocation Refunding Bonds,
Series 1996, 5.50% Due 11/1/26. (Original issue discount bonds delivered on
or about October 15, 1996 at a price of 94.869% of principal amount.)
600,000 City of Rancho Mirage (California), Joint Powers Financing Authority, 2007 at 102 AAA Aaa
Certificates of Participation, Eisenhower Medical Center, Series 1997A,
5.375% Due 7/1/22. (Original issue discount bonds delivered on or about
February 19, 1997 at a price of 94.383% of principal amount.)
600,000 Sacramento Area Flood Control Agency (California), North Area Local 2005 at 102 AAA Aaa
Project, Capital Assessment District No. 2 Bonds, Series 1995, 5.375% Due
10/1/25.
70,000 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.)
230,000 Thousand Oaks Redevelopment Agency (Ventura County, California), Thousand 2005 at 102 AAA Aaa
Oaks Boulevard Redevelopment Project, 1995 Tax Allocation Refunding Bonds,
5.375% Due 12/1/25. (Original issue discount bonds delivered on or about
November 21, 1995 at a price of 94.257% of principal amount.)
----------------------------------------------------------------------------------------------------------------
$ 4,000,000 TOTAL 9 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 02/26/97.
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 $.10. 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 $ 100.44 4.90 % 5.04% 5.10% 5.08% 5.14% 5.09% 5.16 %
500 / $50,000 100.28 4.75 5.05 5.11 5.08 5.15 5.10 5.17
1,000 / $100,000 100.02 4.50 5.06 5.13 5.10 5.17 5.12 5.19
2,500 / $250,000 99.76 4.25 5.08 5.14 5.11 5.18 5.13 5.20
5,000 / $500,000 98.98 3.50 5.12 5.20 5.15 5.24 5.17 5.26
10,000 / $1,000,000 98.47 3.00 5.14 5.24 5.18 5.28 5.20 5.30
25,000 / $2,500,000 97.97 2.50 5.17 5.27 5.20 5.31 5.22 5.33
50,000 / $5,000,000 97.47 2.00 5.20 5.31 5.23 5.35 5.25 5.37
</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>
5.04 % 7.69% 8.06% 8.69% 9.16 %
5.05 7.71 8.08 8.71 9.18
5.06 7.73 8.10 8.72 9.20
5.08 7.76 8.13 8.76 9.24
5.12 7.82 8.19 8.83 9.31
5.14 7.85 8.22 8.86 9.35
5.17 7.89 8.27 8.91 9.40
5.20 7.94 8.32 8.97 9.45
</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
04/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 4/15/97 $ .4783
Monthly plan 5/15/97 .4221 $ 5.0659
Quarterly plan 5/15/97 .4248
8/15/97 1.2744 5.0979
Semi-annual plan 5/15/97 .4263
11/15/97 2.5578 5.1169
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.54 = 99.462
investment offering price # of units
(as of and accrued purchased
02/26/97) interest
99.462 X $5.0659 = $503.86
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
