<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 284 929
- --------------------------------------------------------------------------------
<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 26, 1997
ESTIMATED CURRENT RETURN:
5.16 - 5.37%
ESTIMATED LONG-TERM RETURN:
5.24 - 5.50%
</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 27.3 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.23 to $97.27 depending on the purchase amount
Cusip 67065A 439 monthly payment plan
Numbers 67065A 447 quarterly payment plan
67065A 454 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)
2017-18 2.5%
2019-20 0.0%
2021-22 45.0%
2023-24 12.5%
2025+ 40.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/25/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.16%
Tax Equivalent Yield 8.90%
Treasury Bonds
Yield 6.92%
Tax Equivalent Yield 7.63%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.73%
</TABLE>
*COMPARES TRUST AS OF 03/25/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/24/97. 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, 5.625% Due 2006 at 101 AAA Aaa
10/1/23. (When issued.)
605,000 California Statewide Communities Development Authority, Certificates of 2005 at 102 AAA Aaa
Participation (Sutter Health Obligated Group), 5.50% Due 8/15/22. (Original
issue discount bonds delivered on or about July 18, 1995 at a price of
92.464% of principal amount.)
500,000 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
100,000 Center Unified School District, Sacramento County, California, Election of No Optional AAA Aaa
1992 General Obligation Bonds, Series 1997C, 0.00% Due 9/1/17. (Original Call
issue discount bonds delivered on or about March 4, 1997 at a price of
31.296% of principal amount.)
500,000 Harbor Department of the City of Los Angeles (California), Revenue 2006 at 101 AAA Aaa
Refunding Bonds, Issue of 1996, Series C, 5.375% Due 11/1/25.
600,000 County of Madera, California, Certificates of Participation (Valley 2005 at 102 AAA Aaa
Children's Hospital Project), Series 1995, 5.75% Due 3/15/28. (Original
issue discount bonds delivered on or about August 2, 1995 at a price of
92.415% 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.)
595,000 The City of Turlock (California), Auxiliary Organization Revenue 2006 at 102 AAA Aaa
Certificates of Participation (California State University, Stanislaus
Foundation), Series 1995, 5.875% Due 6/1/22.
----------------------------------------------------------------------------------------------------------------
$ 4,000,000 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 03/25/97.
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 $ 100.23 4.90 % 5.16% 5.24% 5.20% 5.27% 5.21% 5.29 %
500 / $50,000 100.07 4.75 5.17 5.24 5.20 5.27 5.22 5.29
1,000 / $100,000 99.81 4.50 5.19 5.27 5.22 5.30 5.24 5.31
2,500 / $250,000 99.55 4.25 5.20 5.28 5.23 5.31 5.25 5.33
5,000 / $500,000 98.78 3.50 5.24 5.34 5.27 5.37 5.29 5.39
10,000 / $1,000,000 98.27 3.00 5.27 5.38 5.30 5.41 5.32 5.43
25,000 / $2,500,000 97.76 2.50 5.29 5.41 5.33 5.44 5.35 5.46
50,000 / $5,000,000 97.27 2.00 5.32 5.45 5.35 5.48 5.37 5.50
</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>
5.16 % 7.88% 8.26% 8.90% 9.38 %
5.17 7.89 8.27 8.91 9.40
5.19 7.92 8.30 8.95 9.44
5.20 7.94 8.32 8.97 9.45
5.24 8.00 8.38 9.03 9.53
5.27 8.05 8.43 9.09 9.58
5.29 8.08 8.46 9.12 9.62
5.32 8.12 8.51 9.17 9.67
</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 $ .5029
Monthly plan 6/15/97 .4311 $ 5.1757
Quarterly plan 8/15/97 1.3014
11/15/97 1.3014 5.2077
Semi-annual plan 11/15/97 2.6118
5/15/98 2.6118 5.2267
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.30 = 99.700
investment offering price # of units
(as of and accrued purchased
03/25/97) interest
99.700 X $5.1757 = $516.02
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN NEW YORK NUVEEN
INSURED UNIT TRUST 266 929
- --------------------------------------------------------------------------------
<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 26, 1997
ESTIMATED CURRENT RETURN:
5.23 - 5.44%
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 24.8 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.82 to $97.84 depending on the purchase amount
Cusip 67102K 499 monthly payment plan
Numbers 67102K 507 quarterly payment plan
67102K 515 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 New York
</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)
2016-18 28.6%
2019-21 14.3%
2022-24 42.8%
2025+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 03/25/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.23%
Tax Equivalent Yield 8.79%
Treasury Bonds
Yield 6.92%
Tax Equivalent Yield 7.43%
Corporate Bonds
Yield 7.73%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 03/25/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 03/24/97. ASSUMES 40.5%
FEDERAL AND STATE INCOME TAX RATE AND A 6.85% 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 NEW YORK 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>
----------------------------------------------------------------------------------------------------------------
$ 275,000 Dormitory Authority of the State of New York, City University System 2006 at 102 AAA Aaa
Consolidated Third General Resolution Revenue Bonds, 1996 Series 1, 5.50%
Due 7/1/24.
500,000 Dormitory Authority of the State of New York, State University Educational 2006 at 102 AAA Aaa
Facilities, Revenue Bonds, Series 1996, 6.00% Due 5/15/18.
500,000 New York State Energy Research and Development Authority, Facilities 2005 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1995 A (Consolidated Edison Company of New
York, Inc. Project), 6.10% Due 8/15/20.
500,000 New York Local Government Assistance Corporation (New York), Series 1995A 2005 at 102 AAA Aaa
Bonds, 6.00% Due 4/1/24.
500,000 New York State Thruway Authority, Local Highway and Bridge Service Contract 2006 at 102 AAA Aaa
Bonds, Series 1996, 5.75% Due 4/1/16. (General Obligation Bonds.)
500,000 The City of New York (New York), General Obligation Bonds, Fiscal 1997 2006 at 101 AAA Aaa
Series F, 5.875% Due 8/1/24. 1/2
500,000 New York City (New York), Municipal Water Finance Authority, Water and 2006 at 101 AAA Aaa
Sewer System Revenue Bonds, Fiscal 1996 Series B, 5.875% Due 6/15/26.
(Original issue discount bonds delivered on or about May 16, 1996 at a
price of 93.908% of principal amount.)
225,000 Triborough Bridge and Tunnel Authority (New York), General Purpose Revenue No Optional AAA Aaa
Bonds, Series 1993B, 0.00% Due 1/1/22. (Original issue discount bonds Call
delivered on or about November 9, 1993 at a price of 21.422% of principal
amount.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 8 BONDS FROM NEW YORK.
</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 03/25/97.
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 $ 100.82 4.90 % 5.23% 5.22% 5.26% 5.25% 5.28% 5.27 %
500 / $50,000 100.66 4.75 5.24 5.23 5.27 5.26 5.29 5.28
1,000 / $100,000 100.40 4.50 5.25 5.25 5.28 5.28 5.30 5.30
2,500 / $250,000 100.14 4.25 5.26 5.27 5.29 5.30 5.31 5.31
5,000 / $500,000 99.36 3.50 5.30 5.33 5.34 5.36 5.36 5.38
10,000 / $1,000,000 98.85 3.00 5.33 5.37 5.36 5.40 5.38 5.42
25,000 / $2,500,000 98.34 2.50 5.36 5.40 5.39 5.43 5.41 5.45
50,000 / $5,000,000 97.84 2.00 5.39 5.44 5.42 5.47 5.44 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 33.0% 35.5% 40.5% 43.5%
<C> <S> <C> <C> <C> <C>
5.23 % 7.81% 8.11% 8.79% 9.26 %
5.24 7.82 8.12 8.81 9.27
5.25 7.84 8.14 8.82 9.29
5.26 7.85 8.16 8.84 9.31
5.30 7.91 8.22 8.91 9.38
5.33 7.96 8.26 8.96 9.43
5.36 8.00 8.31 9.01 9.49
5.39 8.04 8.36 9.06 9.54
</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 $ .5120
Monthly plan 6/15/97 .4389 $ 5.2698
Quarterly plan 8/15/97 1.3248
11/15/97 1.3248 5.3018
Semi-annual plan 11/15/97 2.6586
5/15/98 2.6586 5.3208
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.89 = 99.117
investment offering price # of units
(as of and accrued purchased
03/25/97) interest
99.117 X $5.2698 = $522.33
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
