<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 283 924
- --------------------------------------------------------------------------------
<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: March 11, 1997
ESTIMATED CURRENT RETURN:
5.09 - 5.30%
ESTIMATED LONG-TERM RETURN:
5.14 - 5.41%
</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 $5,000,000 in 50,000 units
Average Life 27.3 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.27 to $97.31 depending on the purchase amount
Cusip 67065A 405 monthly payment plan
Numbers 67065A 413 quarterly payment plan
67065A 421 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)
2019-20 2.8%
2021-22 40.0%
2023-24 12.2%
2025-26 30.0%
2027+ 15.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/10/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.09%
Tax Equivalent Yield 8.78%
Treasury Bonds
Yield 6.81%
Tax Equivalent Yield 7.51%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.60%
</TABLE>
*COMPARES TRUST AS OF 03/10/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/07/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 750,000 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.)
610,000 California Health Facilities Financing Authority, Insured Revenue Bonds 2006 at 102 AAA Aaa
(Catholic Healthcare West), 1996 Series E, 5.25% Due 7/1/23. (Original
issue discount bonds delivered on or about December 12, 1996 at a price of
94.924% of principal amount.)
140,000 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 California State University, Sacramento Student Union Refunding Revenue 2005 at 102 AAA Aaa
Bonds, Series C, 5.625% Due 3/1/21.
750,000 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
750,000 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.
750,000 East Bay Municipal Utility District (Alameda and Contra Costa Counties, 2006 at 102 AAA Aaa
California), Wastewater System Subordinated Revenue/Refunding Bonds, Series
1996, 5.00% Due 6/1/26. (Original issue discount bonds delivered on or
about February 15, 1996 at a price of 94.20% of principal amount.)
750,000 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.)
----------------------------------------------------------------------------------------------------------------
$ 5,000,000 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 03/10/97.
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 $.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 $ 100.27 4.90 % 5.09% 5.14% 5.13% 5.18% 5.15% 5.20 %
500 / $50,000 100.12 4.75 5.10 5.14 5.13 5.18 5.15 5.20
1,000 / $100,000 99.85 4.50 5.12 5.17 5.15 5.21 5.17 5.23
2,500 / $250,000 99.59 4.25 5.13 5.18 5.16 5.22 5.18 5.24
5,000 / $500,000 98.82 3.50 5.17 5.24 5.20 5.28 5.22 5.30
10,000 / $1,000,000 98.31 3.00 5.20 5.28 5.23 5.32 5.25 5.33
25,000 / $2,500,000 97.81 2.50 5.22 5.31 5.26 5.35 5.27 5.37
50,000 / $5,000,000 97.31 2.00 5.25 5.35 5.28 5.39 5.30 5.41
</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>
5.09 % 7.77% 8.14% 8.78% 9.25 %
5.10 7.79 8.16 8.79 9.27
5.12 7.82 8.19 8.83 9.31
5.13 7.83 8.21 8.84 9.33
5.17 7.89 8.27 8.91 9.40
5.20 7.94 8.32 8.97 9.45
5.22 7.97 8.35 9.00 9.49
5.25 8.02 8.40 9.05 9.55
</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 $ .2836
Monthly plan 5/15/97 .4254 $ 5.1082
Quarterly plan 5/15/97 .4281
8/15/97 1.2843 5.1402
Semi-annual plan 5/15/97 .4299
11/15/97 2.5794 5.1592
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.31 = 99.690
investment offering price # of units
(as of and accrued purchased
03/10/97) interest
99.690 X $5.1082 = $509.24
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN FLORIDA NUVEEN
INSURED UNIT TRUST 241 924
- --------------------------------------------------------------------------------
<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: March 11, 1997
ESTIMATED CURRENT RETURN:
5.04 - 5.24%
ESTIMATED LONG-TERM RETURN:
5.13 - 5.39%
</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 27.3 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.97 to $97.01 depending on the purchase amount
Cusip 6706H6 252 monthly payment plan
Numbers 6706H6 260 quarterly payment plan
6706H6 278 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 14.3%
2021-22 28.6%
2023-24 0.0%
2025+ 42.8%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/10/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.04%
Tax Equivalent Yield 7.88%
Treasury Bonds
Yield 6.81%
Tax Equivalent Yield
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.60%
</TABLE>
*COMPARES TRUST AS OF 03/10/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/07/97. 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 State of Florida, Full Faith and Credit, State Board of Education, Public 2005 at 101 AAA Aaa
Education Capital Outlay Refunding Bonds, 1995 Series E, 4.75% Due 6/1/22.
(Original issue discount bonds delivered on or about February 8, 1996 at a
price of 91.969% of principal amount.)(General Obligation Bonds.)
500,000 State of Florida, Correctional Privatization Commission, Certificates of 2005 at 102 AAA Aaa
Participation (350 Bed Youthful Offender Correctional Facility, Polk County
Project), Series 1995B, 5.00% Due 8/1/17. (Original issue discount bonds
delivered on or about December 28, 1995 at a price of 93.50% of principal
amount.)
500,000 State of Florida, Board of Regents, University of South Florida, Housing 2006 at 101 AAA Aaa
Facility Revenue Bonds, Series 1996A, 5.50% Due 7/1/21.
475,000 Dade County, Florida, Aviation Revenue Bonds, Series 1996B, 5.60% Due 2006 at 102 AAA Aaa
10/1/26.
525,000 Dade County, Florida, Seaport Revenue Bonds, Series 1996, 5.50% Due 2006 at 102 AAA Aaa
10/1/26.
500,000 City of Lakeland, Florida, Electric and Water Revenue Bonds, Series 1996, 2006 at 102 AAA Aaa
5.625% Due 10/1/36.
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.)
----------------------------------------------------------------------------------------------------------------
$ 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 03/10/97.
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 $.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 $ 99.97 4.90 % 5.04% 5.13% 5.07% 5.16% 5.09% 5.18 %
500 / $50,000 99.81 4.75 5.05 5.14 5.08 5.16 5.10 5.18
1,000 / $100,000 99.55 4.50 5.06 5.16 5.09 5.19 5.11 5.21
2,500 / $250,000 99.29 4.25 5.07 5.17 5.10 5.20 5.12 5.22
5,000 / $500,000 98.52 3.50 5.11 5.23 5.14 5.26 5.16 5.28
10,000 / $1,000,000 98.01 3.00 5.14 5.27 5.17 5.30 5.19 5.32
25,000 / $2,500,000 97.51 2.50 5.16 5.30 5.20 5.33 5.22 5.35
50,000 / $5,000,000 97.01 2.00 5.19 5.34 5.22 5.37 5.24 5.39
</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
5.07 7.04 7.35 7.92 8.39
5.11 7.10 7.41 7.98 8.46
5.14 7.14 7.45 8.03 8.51
5.16 7.17 7.48 8.06 8.54
5.19 7.21 7.52 8.11 8.59
</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 $ .2796
Monthly plan 5/15/97 .4194 $ 5.0362
Quarterly plan 5/15/97 .4221
8/15/97 1.2663 5.0682
Semi-annual plan 5/15/97 .4239
11/15/97 2.5434 5.0872
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.01 = 99.990
investment offering price # of units
(as of and accrued purchased
03/10/97) interest
99.990 X $5.0362 = $503.57
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
