<PAGE>
NUVEEN
NUVEEN MARYLAND
TRADITIONAL UNIT TRUST 320 928
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.05 - 5.26% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.11 - 5.38% - Dependable Income
DATE OF DEPOSIT: March 25, 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.
- --------------------------------------------------------------------------------
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 26.5 years
Call Protection Earliest ordinary optional call is 2006
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.00 to $98.01 depending on the purchase amount
Cusip 67102E 527 monthly payment plan
Numbers 67102E 535 quarterly payment plan
67102E 543 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 71%
AA 29
---------
100%
Registration Registered in Maryland
</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)
2015-18 28.6%
2019-22 0.0%
2023-26 42.8%
2027+ 28.6%
The earliest ordinary optional call date is 2006
YIELD COMPARISON AS OF 03/24/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.05%
Tax Equivalent Yield 8.28%
Treasury Bonds
Yield 6.96%
Tax Equivalent Yield 7.33%
Corporate Bonds
Yield 7.75%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 03/24/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/21/97. ASSUMES 39.0%
FEDERAL AND STATE INCOME TAX RATE AND A 5.0% 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 MARYLAND 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 Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, AAA Aaa
The Johns Hopkins Health System (Bayview Campus) Issue, Series 1996, 5.25%
Due 7/1/27. (AMBAC Insured.) 2007 at 102
500,000 Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, AAA Aaa
Loyola College Issue, Series 1996A, 5.375% Due 10/1/26. (Original issue
discount bonds delivered on or about November 14, 1996 at a price of
94.668% of principal amount.)(MBIA Insured.) 2006 at 102
500,000 The Maryland-National Capital Park and Planning Commission (Prince George's AA Aa2
County, Maryland), General Obligation Park Acquisition and Development
Bonds, Series T-2, 5.375% Due 1/15/17. 2007 at 101
500,000 Anne Arundel County, Maryland, General Obligation Bonds, Consolidated Water AA+ Aa
and Sewer Series, 1996, 5.00% Due 9/1/15. 2006 at 101
500,000 City of Baltimore, Maryland (Mayor and City Council of Baltimore), Project AAA Aaa
and Refunding Revenue Bonds (Wastewater Projects), Series 1996-A, 5.50% Due
7/1/26. (Original issue discount bonds delivered on or about July 31, 1996
at a price of 93.74% of principal amount.)(FGIC Insured.) 2006 at 101
500,000 Howard County, Maryland, Metropolitan District General Obligation Bonds, AA+ Aaa
1997 Series A, 5.50% Due 2/15/27. (When issued.) 2006 at 101
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1997, 5.375% Due AAA Aaa
7/1/25. (Original issue discount bonds will be delivered on or about April
3, 1997 at a price of 93.725% of principal amount.)(General Obligation
Bonds.) (When issued.) (MBIA Insured.) 2007 at 100
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 6 BONDS FROM MARYLAND 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 03/24/97.
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 $.09. 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 $ 101.00 4.90 % 5.05% 5.11% 5.08% 5.14% 5.10% 5.16 %
500 / $50,000 100.84 4.75 5.06 5.12 5.09 5.15 5.11 5.17
1,000 / $100,000 100.58 4.50 5.07 5.14 5.10 5.17 5.12 5.19
2,500 / $250,000 100.31 4.25 5.09 5.16 5.12 5.19 5.14 5.21
5,000 / $500,000 99.53 3.50 5.13 5.22 5.16 5.25 5.18 5.27
10,000 / $1,000,000 99.02 3.00 5.15 5.25 5.18 5.28 5.20 5.30
25,000 / $2,500,000 98.51 2.50 5.18 5.29 5.21 5.32 5.23 5.34
50,000 / $5,000,000 98.01 2.00 5.21 5.33 5.24 5.36 5.26 5.38
</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 31.5% 34.5% 39.0% 42.5%
<C> <S> <C> <C> <C> <C>
5.05 % 7.37% 7.71% 8.28% 8.78 %
5.06 7.39 7.73 8.30 8.80
5.07 7.40 7.74 8.31 8.82
5.09 7.43 7.77 8.34 8.85
5.13 7.49 7.83 8.41 8.92
5.15 7.52 7.86 8.44 8.96
5.18 7.56 7.91 8.49 9.01
5.21 7.61 7.95 8.54 9.06
</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 $ .5101
Monthly plan 6/15/97 .4251 $ 5.1020
Quarterly plan 8/15/97 1.2834
11/15/97 1.2834 5.1340
Semi-annual plan 11/15/97 2.5758
5/15/98 2.5758 5.1530
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.09 = 98.921
investment offering price # of units
(as of and accrued purchased
03/24/97) interest
98.921 X $5.1020 = $504.69
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN
NUVEEN VIRGINIA
TRADITIONAL UNIT TRUST 315 928
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
5.17 - 5.38% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
5.21 - 5.49% - Dependable Income
DATE OF DEPOSIT: March 25, 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.
- --------------------------------------------------------------------------------
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 25.8 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.60 to $97.62 depending on the purchase amount
Cusip 6706LB 371 monthly payment plan
Numbers 6706LB 389 quarterly payment plan
6706LB 397 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 71%
AA 29
---------
100%
Registration Registered in Virginia
</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)
2016-17 14.3%
2018-19 14.3%
2020-21 28.5%
2022-23 0.0%
2024+ 42.9%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/24/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.17%
Tax Equivalent Yield 8.55%
Treasury Bonds
Yield 6.96%
Tax Equivalent Yield 7.38%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.75%
</TABLE>
*COMPARES TRUST AS OF 03/24/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/21/97. ASSUMES 39.5%
FEDERAL AND STATE INCOME TAX RATE AND A 5.75% 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.
<PAGE>
- --------------------------------------------------------------------------------
BONDS THIS VIRGINIA 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 Virginia Commonwealth University, General Revenue Pledge Bonds, Series AA- A1
1996A, 5.75% Due 5/1/21. 2006 at 102
500,000 Industrial Development Authority of Brunswick County, Virginia, AAA Aaa
Correctional Facility Lease Revenue Bonds, Series 1996, 5.50% Due 7/1/17.
(Original issue discount bonds delivered on or about July 10, 1996 at a
price of 94.646% of principal amount.)(MBIA Insured.) 2006 at 102
500,000 Capital Region Airport Commission, Richmond (Virginia), International AAA Aaa
Airport Projects, Airport Revenue Bonds, Series 1995A, 5.625% Due 7/1/25.
(AMBAC Insured.) 2005 at 102
500,000 Industrial Development Authority of Fairfax County, Virginia, Hospital AA Aa2
Revenue Refunding Bonds (Inova Health System Hospitals Project), Series
1993A, 5.25% Due 8/15/19. No Optional
Call
500,000 County of Hanover, Virginia, Water and Sewer System Revenue Bonds, Series AAA Aaa
1996, 5.25% Due 2/1/26. (MBIA Insured.) 2006 at 102
500,000 Loudoun County Sanitation Authority (Virginia), Water and Sewer System AAA Aaa
Revenue Bonds, Series 1996, 5.25% Due 1/1/30. (Original issue discount
bonds delivered on or about August 27, 1996 at a price of 93.309% of
principal amount.)(FGIC Insured.) 2007 at 102
250,000 City of Norfolk, Virginia, Water Revenue Bonds, Series 1995, 5.875% Due AAA Aaa
11/1/20. (MBIA Insured.) 2005 at 102
250,000 City of Richmond, Virginia, General Obligation Public Improvement Refunding AAA Aaa
Bonds, Series 1995B, 5.00% Due 1/15/21. (FGIC Insured.) 2006 at 102
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 8 BONDS FROM VIRGINIA.
</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 03/24/97.
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 $.09. 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 $ 100.60 4.90 % 5.17% 5.21% 5.20% 5.25% 5.22% 5.27 %
500 / $50,000 100.44 4.75 5.17 5.21 5.21 5.25 5.23 5.27
1,000 / $100,000 100.18 4.50 5.19 5.24 5.22 5.28 5.24 5.30
2,500 / $250,000 99.92 4.25 5.20 5.25 5.23 5.29 5.25 5.31
5,000 / $500,000 99.14 3.50 5.24 5.31 5.27 5.35 5.29 5.37
10,000 / $1,000,000 98.63 3.00 5.27 5.35 5.30 5.39 5.32 5.41
25,000 / $2,500,000 98.12 2.50 5.30 5.39 5.33 5.43 5.35 5.45
50,000 / $5,000,000 97.62 2.00 5.32 5.42 5.36 5.46 5.38 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 32.0% 35.0% 39.5% 43.0%
<C> <S> <C> <C> <C> <C>
5.17 % 7.60% 7.95% 8.55% 9.07 %
5.17 7.60 7.95 8.55 9.07
5.19 7.63 7.98 8.58 9.11
5.20 7.65 8.00 8.60 9.12
5.24 7.71 8.06 8.66 9.19
5.27 7.75 8.11 8.71 9.25
5.30 7.79 8.15 8.76 9.30
5.32 7.82 8.18 8.79 9.33
</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 $ .5194
Monthly plan 6/15/97 .4329 $ 5.1975
Quarterly plan 8/15/97 1.3068
11/15/97 1.3068 5.2295
Semi-annual plan 11/15/97 2.6226
5/15/98 2.6226 5.2485
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.69 = 99.314
investment offering price # of units
(as of and accrued purchased
03/24/97) interest
99.314 X $5.1975 = $516.18
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
