<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 287 938
- --------------------------------------------------------------------------------
<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. - Dependable Income
and/or AAA by Standard & Poor's, the highest - Diversified Portfolios
rating given by each agency. - Top-Rated Municipal Bonds
ESTIMATED CURRENT RETURN: DATE OF DEPOSIT: May 7, 1997
5.14 - 5.35%
ESTIMATED LONG-TERM RETURN:
5.18 - 5.45%
</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 25.4 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.30 to $97.34 depending on the purchase amount
Cusip 67065A 520 monthly payment plan
Numbers 67065A 538 quarterly payment plan
67065A 546 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)
2018-19 21.9%
2020-21 15.0%
2022-23 33.7%
2024-25 14.4%
2026+ 15.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 05/06/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.14%
Tax Equivalent Yield 8.86%
Treasury Bonds
Yield 6.87%
Tax Equivalent Yield 7.57%
Corporate Bonds
Yield 7.72%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 05/06/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 05/05/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 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.
350,000 State Public Works Board of the State of California, Lease Revenue 2006 at 102 AAA Aaa
Refunding Bonds (Department of Corrections), 1996 Series B, California
State Prison-Monterey County (Soledad II), 5.625% Due 11/1/19.
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
600,000 City of Modesto, California, Wastewater Treatment Facility Revenue Bonds, 2007 at 101 AAA Aaa
Series 1997, 5.75% Due 11/1/22.
150,000 Mountain View-Los Altos Union High School District (County of Santa Clara, No Optional AAA Aaa
California), 1995 General Obligation Bonds, Series C, 0.00% Due 5/1/22. Call
(Original issue discount bonds will be delivered on or about May 8, 1997 at
a price of 22.289% of principal amount.)(When issued.)
525,000 City of Oakland (California), General Obligation Bonds (Series 1997C, 2006 at 102 AAA Aaa
Measure K), 5.80% Due 12/15/19.
575,000 Airports Commission, City and County of San Francisco, California, San 2006 at 101 AAA Aaa
Francisco International Airport, Second Series Revenue Bonds, Issue 12B,
5.65% Due 5/1/24.
600,000 Y/S School Facilities Financing Authority (California), 1997 Sweetwater 2005 at 102 AAA Aaa
Special Tax Revenue Bonds, Series A (Rancho Del Rey Middle School), 5.75%
Due 9/1/22.
----------------------------------------------------------------------------------------------------------------
$ 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 05/06/97.
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 $ 100.30 4.90 % 5.14% 5.18% 5.17% 5.21% 5.19% 5.23 %
500 / $50,000 100.15 4.75 5.15 5.19 5.18 5.22 5.20 5.24
1,000 / $100,000 99.89 4.50 5.16 5.21 5.20 5.24 5.21 5.26
2,500 / $250,000 99.62 4.25 5.18 5.23 5.21 5.26 5.23 5.28
5,000 / $500,000 98.85 3.50 5.22 5.29 5.25 5.32 5.27 5.34
10,000 / $1,000,000 98.34 3.00 5.24 5.33 5.28 5.36 5.30 5.38
25,000 / $2,500,000 97.84 2.50 5.27 5.37 5.30 5.40 5.32 5.42
50,000 / $5,000,000 97.34 2.00 5.30 5.40 5.33 5.43 5.35 5.45
</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>
5.14 % 7.85% 8.22% 8.86% 9.35 %
5.15 7.86 8.24 8.88 9.36
5.16 7.88 8.26 8.90 9.38
5.18 7.91 8.29 8.93 9.42
5.22 7.97 8.35 9.00 9.49
5.24 8.00 8.38 9.03 9.53
5.27 8.05 8.43 9.09 9.58
5.30 8.09 8.48 9.14 9.64
</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
06/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 6/15/97 $ .3436
Monthly plan 7/15/97 .4296 $ 5.1573
Quarterly plan 8/15/97 .8646
11/15/97 1.2969 5.1893
Semi-annual plan 11/15/97 2.1690
5/15/98 2.6028 5.2083
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.37 = 99.631
investment offering price # of units
(as of and accrued purchased
05/06/97) interest
99.631 X $5.1573 = $513.83
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN NEW JERSEY NUVEEN
INSURED UNIT TRUST 219 938
- --------------------------------------------------------------------------------
<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. - Dependable Income
and/or AAA by Standard & Poor's, the highest - Diversified Portfolios
rating given by each agency. - Top-Rated Municipal Bonds
ESTIMATED CURRENT RETURN: DATE OF DEPOSIT: May 7, 1997
5.11 - 5.31%
ESTIMATED LONG-TERM RETURN:
5.13 - 5.40%
</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 27.4 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.89 to $97.91 depending on the purchase amount
Cusip 6706LA 829 monthly payment plan
Numbers 6706LA 837 quarterly payment plan
6706LA 845 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 Jersey
</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 14.3%
2021-22 11.4%
2023-24 7.1%
2025-26 52.9%
2027+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 05/06/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 5.11%
Tax Equivalent Yield 8.52%
Treasury Bonds
Yield 6.87%
Tax Equivalent Yield 7.34%
Corporate Bonds
Yield 7.72%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 05/06/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 05/05/97. ASSUMES 40.0%
FEDERAL AND STATE INCOME TAX RATE AND A 6.37% 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 JERSEY 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>
----------------------------------------------------------------------------------------------------------------
$ 400,000 New Jersey Educational Facilities Authority, Revenue Bonds, University of 2005 at 101 AAA Aaa
Medicine and Dentistry of New Jersey Issue, Series 1995 B, 5.25% Due
12/1/21.
500,000 New Jersey Educational Facilities Authority, Seton Hall University Project 2006 at 101 AAA Aaa
Revenue Refunding Bonds, 1996 Series, Project E, 5.625% Due 7/1/19.
500,000 New Jersey Health Care Facilities Financing Authority, Shoreline Behavioral 2007 at 102 AAA Aaa
Health Center, Series 1997, Revenue Refunding Bonds, 5.50% Due 7/1/27.
500,000 The Port Authority of New York and New Jersey, Consolidated Bonds, One 2006 at 101 AAA Aaa
Hundred Fourth Series, 4.75% Due 1/15/26. (Original issue discount bonds
delivered on or about February 14, 1996 at a price of 91.788% of principal
amount.)
500,000 The Delaware River and Bay Authority (Delaware and New Jersey), Revenue 2006 at 102 AAA Aaa
Bonds, Series 1996, 5.25% Due 1/1/26.
350,000 Delaware River Port Authority (New Jersey and Pennsylvania), Revenue Bonds, 2006 at 102 AAA Aaa
Series of 1995, 5.50% Due 1/1/26.
250,000 Gloucester County Utilities Authority, New Jersey, Sewer Revenue Refunding 2006 at 101 AAA Aaa
Bonds, 1996 Series, 5.45% Due 1/1/24. (General Obligation Bonds.)
500,000 The Board of Education of the Township of Middletown in the County of 2007 at 100 AAA Aaa
Monmouth, New Jersey, School Bonds, 5.85% Due 8/1/26. (General Obligation
Bonds.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 8 BONDS FROM NEW JERSEY.
</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 05/06/97.
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 $ 100.89 4.90 % 5.11% 5.13% 5.14% 5.17% 5.16% 5.19 %
500 / $50,000 100.73 4.75 5.11 5.13 5.15 5.17 5.17 5.19
1,000 / $100,000 100.47 4.50 5.13 5.16 5.16 5.20 5.18 5.22
2,500 / $250,000 100.21 4.25 5.14 5.17 5.17 5.21 5.19 5.23
5,000 / $500,000 99.43 3.50 5.18 5.23 5.21 5.27 5.23 5.29
10,000 / $1,000,000 98.92 3.00 5.21 5.27 5.24 5.31 5.26 5.33
25,000 / $2,500,000 98.41 2.50 5.24 5.30 5.27 5.34 5.29 5.36
50,000 / $5,000,000 97.91 2.00 5.26 5.34 5.29 5.38 5.31 5.40
</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% 35.5% 40.0% 43.5%
<C> <S> <C> <C> <C> <C>
5.11 % 7.51% 7.92% 8.52% 9.04 %
5.11 7.51 7.92 8.52 9.04
5.13 7.54 7.95 8.55 9.08
5.14 7.56 7.97 8.57 9.10
5.18 7.62 8.03 8.63 9.17
5.21 7.66 8.08 8.68 9.22
5.24 7.71 8.12 8.73 9.27
5.26 7.74 8.16 8.77 9.31
</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
06/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial partial
payment (all
plans) 6/15/97 $ .3434
Monthly plan 7/15/97 .4293 $ 5.1520
Quarterly plan 8/15/97 .8634
11/15/97 1.2951 5.1840
Semi-annual plan 11/15/97 2.1675
5/15/98 2.6010 5.2030
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.96 = 99.049
investment offering price # of units
(as of and accrued purchased
05/06/97) interest
99.049 X $5.1520 = $510.30
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
