<PAGE>
NUVEEN
NUVEEN CONNECTICUT
TRADITIONAL UNIT TRUST 287 927
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.12 - 5.33% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.19 - 5.46% - Dependable Income
DATE OF DEPOSIT: March 21, 1997 - Diversified Portfolios
- Investment Grade Municipal Bonds
</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.
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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 26.2 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.73 to $97.75 depending on the purchase amount
Cusip 67064X 315 monthly payment plan
Numbers 67064X 323 quarterly payment plan
67064X 331 semi-annual payment plan
Ratings of As rated by Standard & Poor's, a division of The McGraw
Portfolio Hill Companies
or Moody's Investors Service, Inc.
AAA 86%
AA 14
---------
100%
Registration Registered in Connecticut
</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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<TABLE>
<S> <C>
MATURITY DATES (Description of Chart)
2017-19 28.6%
2020-22 0.0%
2023-25 42.8%
2026+ 28.6%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/20/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.12%
Tax Equivalent Yield 8.39%
Treasury Bonds
Yield 6.98%
Tax Equivalent Yield 7.31%
Corporate Bonds
Yield 7.77%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 03/20/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/19/97. ASSUMES 39.0%
FEDERAL AND STATE INCOME TAX RATE AND A 4.5% 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>
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BONDS THIS CONNECTICUT TRADITIONAL 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 Connecticut, General Obligation Bonds (1997 Series A), 5.25% Due AA- Aa3
3/1/17. (When issued.) 2007 at 101
500,000 State of Connecticut, Clean Water Fund Revenue Bonds, 1996 Series, 5.125% AA+ Aaa
Due 5/1/18. 2005 at 101
500,000 State of Connecticut, Health and Educational Facilities Authority, Revenue AAA --
Bonds, Bridgeport Hospital Issue, Series C, 5.375% Due 7/1/25. (ConnieLee
Insured.) 2006 at 102
500,000 State of Connecticut, Health and Educational Facilities Authority, Revenue AAA Aaa
Bonds, Connecticut College Issue, Series C-1, 5.50% Due 7/1/27. (MBIA
Insured.) 2007 at 102
500,000 State of Connecticut, Health and Educational Facilities Authority, Revenue AAA Aaa
Bonds, Kent School Issue, Series B, 5.40% Due 7/1/23. (MBIA Insured.) 2005 at 101
500,000 State of Connecticut, Health and Educational Facilities Authority, Revenue AAA Aaa
Bonds, The Loomis Chaffee School Issue, Series C, 5.50% Due 7/1/26. (MBIA
Insured.) 2006 at 101
500,000 State of Connecticut, Health and Educational Facilities Authority, Revenue AAA Aaa
Bonds, Yale-New Haven Hospital Issue, Series H, 5.70% Due 7/1/25. (MBIA
Insured.) 2006 at 102
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS FROM CONNECTICUT.
</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 03/20/97.
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 $ 100.73 4.90 % 5.12% 5.19% 5.15% 5.22% 5.17% 5.24 %
500 / $50,000 100.57 4.75 5.13 5.20 5.16 5.23 5.18 5.25
1,000 / $100,000 100.30 4.50 5.14 5.22 5.18 5.25 5.20 5.27
2,500 / $250,000 100.04 4.25 5.16 5.23 5.19 5.26 5.21 5.28
5,000 / $500,000 99.26 3.50 5.20 5.29 5.23 5.32 5.25 5.34
10,000 / $1,000,000 98.75 3.00 5.23 5.33 5.26 5.36 5.28 5.38
25,000 / $2,500,000 98.25 2.50 5.25 5.37 5.28 5.40 5.30 5.42
50,000 / $5,000,000 97.75 2.00 5.28 5.41 5.31 5.44 5.33 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 tax
UNIT TRUST bracket)
RETURN 31.0% 34.0% 39.0% 42.5%
<C> <S> <C> <C> <C> <C>
5.12 % 7.42% 7.76% 8.39% 8.90 %
5.13 7.43 7.77 8.41 8.92
5.14 7.45 7.79 8.43 8.94
5.16 7.48 7.82 8.46 8.97
5.20 7.54 7.88 8.52 9.04
5.23 7.58 7.92 8.57 9.10
5.25 7.61 7.95 8.61 9.13
5.28 7.65 8.00 8.66 9.18
</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
05/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 5/15/97 $ .5732
Monthly plan 6/15/97 .4299 $ 5.1599
Quarterly plan 8/15/97 1.2978
11/15/97 1.2978 5.1919
Semi-annual plan 11/15/97 2.6046
5/15/98 2.6046 5.2109
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.80 = 99.206
investment offering price # of units
(as of and accrued purchased
03/20/97) interest
99.206 X $5.1599 = $511.89
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN PENNSYLVANIA NUVEEN
INSURED UNIT TRUST 223 927
- --------------------------------------------------------------------------------
<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 21, 1997
ESTIMATED CURRENT RETURN:
5.15 - 5.36%
ESTIMATED LONG-TERM RETURN:
5.22 - 5.49%
</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 25.0 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $99.71 to $96.76 depending on the purchase amount
Cusip 6706H7 136 monthly payment plan
Numbers 6706H7 144 quarterly payment plan
6706H7 151 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)
2017-18 28.6%
2019-20 14.3%
2021-22 14.3%
2023-24 0.0%
2025+ 42.8%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/20/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.15%
Tax Equivalent Yield 8.31%
Treasury Bonds
Yield 6.98%
Tax Equivalent Yield 7.18%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.77%
</TABLE>
*COMPARES TRUST AS OF 03/20/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/19/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 500,000 Allegheny County Higher Education Building Authority (Commonwealth of Penn- 2006 at 102 AAA Aaa
sylvania), University Revenue Bonds (Duquesne University Project), Series A
of 1996, 5.00% Due 3/1/21. (Original issue discount bonds delivered on or
about March 14, 1996 at a price of 92.996% of principal amount.)
500,000 Allegheny County Hospital Development Authority (Pennsylvania), Hospital 2006 at 102 AAA Aaa
Revenue Bonds, Series of 1996 (Children's Hospital of Pittsburgh), 5.30%
Due 7/1/26. (Original issue discount bonds delivered on or about December
11, 1996 at a price of 94.311% of principal amount.)
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 Bellefonte Area School District (Centre County, Pennsylvania), General 2006 at 100 AAA Aaa
Obligation Bonds, Series of 1996, 5.40% Due 5/15/20.
500,000 Hazleton City Authority (Luzerne County, Pennsylvania), Water Revenue 2006 at 100 AAA Aaa
Bonds, Refunding Series of 1996, 5.25% Due 4/1/17.
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 The Pittsburgh (Pennsylvania), Water and Sewer Authority, Water and Sewer 2005 at 100 AAA Aaa
System Subordinate Revenue Bonds, Series B of 1995, 5.75% Due 9/1/25.
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 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 03/20/97.
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 $ 99.71 4.90 % 5.15% 5.22% 5.19% 5.25% 5.21% 5.27 %
500 / $50,000 99.55 4.75 5.16 5.23 5.20 5.26 5.21 5.28
1,000 / $100,000 99.29 4.50 5.18 5.25 5.21 5.28 5.23 5.30
2,500 / $250,000 99.03 4.25 5.19 5.27 5.22 5.30 5.24 5.32
5,000 / $500,000 98.26 3.50 5.23 5.33 5.26 5.36 5.28 5.38
10,000 / $1,000,000 97.75 3.00 5.26 5.37 5.29 5.40 5.31 5.42
25,000 / $2,500,000 97.25 2.50 5.29 5.40 5.32 5.43 5.34 5.46
50,000 / $5,000,000 96.76 2.00 5.31 5.44 5.34 5.47 5.36 5.49
</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>
5.15 % 7.36% 7.69% 8.31% 8.80 %
5.16 7.37 7.70 8.32 8.82
5.18 7.40 7.73 8.35 8.85
5.19 7.41 7.75 8.37 8.87
5.23 7.47 7.81 8.44 8.94
5.26 7.51 7.85 8.48 8.99
5.29 7.56 7.90 8.53 9.04
5.31 7.59 7.93 8.56 9.08
</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
05/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 5/15/97 $ .5708
Monthly plan 6/15/97 .4281 $ 5.1397
Quarterly plan 8/15/97 1.2924
11/15/97 1.2924 5.1717
Semi-annual plan 11/15/97 2.5938
5/15/98 2.5938 5.1907
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 99.78 = 100.220
investment offering price # of units
(as of and accrued purchased
03/20/97) interest
100.220 X $5.1397 = $515.10
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
