<PAGE>
NUVEEN FLORIDA NUVEEN
INSURED UNIT TRUST 245 947
- --------------------------------------------------------------------------------
<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. - 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: June 23, 1997
4.85 - 5.05%
ESTIMATED LONG-TERM RETURN:
4.90 - 5.15%
</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 26.5 years
Call Protection Earliest ordinary optional call is 2006
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $100.90 to $97.92 depending on the purchase amount
Cusip 6706H6 377 monthly payment plan
Numbers 6706H6 385 quarterly payment plan
6706H6 393 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)
2018-19 4.0%
2020-21 0.0%
2022-23 52.8%
2024-25 14.3%
2026+ 28.9%
The earliest ordinary optional call date is 2006
YIELD COMPARISON AS OF 06/20/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.85%
Tax Equivalent Yield 7.58%
Treasury Bonds
Yield 6.68%
Tax Equivalent Yield
Corporate Bonds
Yield 7.43%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 06/20/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 06/19/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 400,000 State of Florida, Full Faith and Credit, State Board of Education, Public 2006 at 101 AAA Aaa
Education Capital Outlay Bonds, 1996 Series A, 5.25% Due 6/1/22. (Original
issue discount bonds delivered on or about October 17, 1996 at a price of
94.611% of principal amount.)(General Obligation Bonds.)
510,000 Dade County, Florida, Water and Sewer System Revenue Bonds, Series 1997, 2007 at 101 AAA Aaa
5.25% Due 10/1/26. (Original issue discount bonds delivered on or about
January 30, 1997 at a price of 93.586% of principal amount.)
425,000 The School Board of Escambia County, Florida, Certificates of 2006 at 102 AAA Aaa
Participation, Series 1996-2, 5.50% Due 2/1/22. (Original issue discount
bonds delivered on or about April 25, 1996 at a price of 94.25% of
principal amount.)
525,000 City of Gainesville, Florida, Utilities System Revenue Bonds, 1996 Series 2006 at 102 AAA Aaa
A, 5.20% Due 10/1/22.
500,000 School Board of Orange County, Florida, Master Lease Program, Certificates 2007 at 101 AAA Aaa
of Participation, Series 1997A, 5.375% Due 8/1/22. (Original issue discount
bonds delivered on or about May 22, 1997 at a price of 94.626% of principal
amount.)
140,000 City of Sunrise, Florida, Public Facilities Revenue Bonds, Series 1992B, No Optional AAA Aaa
0.00% Due 10/1/18. (Original issue discount bonds delivered on or about Call
March 10, 1992 at a price of 16.932% of principal amount.)
500,000 Volusia County Educational Facilities Authority (Florida), Educational 2006 at 102 AAA Aaa
Facilities Revenue Bonds (Stetson University, Inc. Project), Series 1996A,
5.50% Due 6/1/26.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1997, 5.375% Due 2007 at 100 AAA Aaa
7/1/25. (Original issue discount bonds delivered on or about April 3, 1997
at a price of 93.725% of principal amount.)(General Obligation Bonds.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS FROM FLORIDA AND ONE BOND FROM THE TERRITORY OF PUERTO RICO.
</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 06/20/97.
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 $.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 $ 100.90 4.90 % 4.85% 4.90% 4.88% 4.93% 4.90% 4.95 %
500 / $50,000 100.75 4.75 4.86 4.90 4.89 4.93 4.91 4.95
1,000 / $100,000 100.48 4.50 4.87 4.92 4.90 4.95 4.92 4.97
2,500 / $250,000 100.22 4.25 4.88 4.94 4.91 4.97 4.93 4.99
5,000 / $500,000 99.44 3.50 4.92 5.00 4.95 5.03 4.97 5.05
10,000 / $1,000,000 98.93 3.00 4.95 5.03 4.98 5.06 5.00 5.08
25,000 / $2,500,000 98.42 2.50 4.97 5.07 5.00 5.10 5.02 5.12
50,000 / $5,000,000 97.92 2.00 5.00 5.10 5.03 5.14 5.05 5.15
</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>
4.85 % 6.74% 7.03% 7.58% 8.03 %
4.86 6.75 7.04 7.59 8.05
4.87 6.76 7.06 7.61 8.06
4.88 6.78 7.07 7.63 8.08
4.92 6.83 7.13 7.69 8.15
4.95 6.88 7.17 7.73 8.20
4.97 6.90 7.20 7.77 8.23
5.00 6.94 7.25 7.81 8.28
</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
08/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 8/15/97 $ .5164
Monthly plan 9/15/97 .4077 $ 4.8926
Quarterly plan 11/15/97 1.2303
2/15/98 1.2303 4.9246
Semi-annual plan 11/15/97 1.2357
5/15/98 2.4714 4.9436
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.94 = 99.068
investment offering price # of units
(as of and accrued purchased
06/20/97) interest
99.068 X $4.8926 = $484.70
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN MASSACHUSETTS NUVEEN
INSURED UNIT TRUST 147 947
- --------------------------------------------------------------------------------
<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: June 23, 1997
4.89 - 5.10%
ESTIMATED LONG-TERM RETURN:
4.91 - 5.17%
</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 26.2 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.83 to $98.82 depending on the purchase amount
Cusip 67065D 227 monthly payment plan
Numbers 67065D 235 quarterly payment plan
67065D 243 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 Massachusetts
</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 14.3%
2020-21 20.0%
2022-23 15.0%
2024-25 35.7%
2026+ 15.0%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 06/20/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.89%
Tax Equivalent Yield 8.65%
Treasury Bonds
Yield 6.68%
Tax Equivalent Yield 7.59%
Corporate Bonds
Yield 7.43%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 06/20/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 06/19/97. ASSUMES 43.5%
FEDERAL AND STATE INCOME TAX RATE AND A 12.0% 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 MASSACHUSETTS 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>
----------------------------------------------------------------------------------------------------------------
$ 525,000 Massachusetts Bay Transportation Authority, General Transportation System 2007 at 101 AAA Aaa
Bonds, 1997 Series A, 5.00% Due 3/1/23. (Original issue discount bonds will
be delivered on or about June 25, 1997 at a price of 93.81% of principal
amount.)(General Obligation Bonds.) (When issued.)
500,000 Massachusetts Health and Educational Facilities Authority, Revenue Bonds, 2005 at 101 AAA Aaa
Mary Hitchcock Memorial Hospital Obligated Group (Cooley Dickinson Hospital
Issue), Series B, 5.50% Due 11/15/25.
525,000 Massachusetts Industrial Finance Agency, Revenue Bonds, Babson College 2007 at 102 AAA Aaa
Issue, Series 1997A, 5.25% Due 10/1/27. (Original issue discount bonds
delivered on or about January 15, 1997 at a price of 92.82% of principal
amount.)
200,000 Massachusetts Industrial Finance Agency, Revenue Bonds (College of the Holy 2006 at 102 AAA Aaa
Cross-1996 Issue), 5.50% Due 3/1/20.
500,000 Massachusetts Industrial Finance Agency, Education Revenue Bonds (Dexter 2007 at 102 AAA Aaa
School Project-Series 1997), 5.45% Due 5/1/19.
500,000 Massachusetts Water Resources Authority, General Revenue Bonds, 1995 Series 2005 at 102 AAA Aaa
B, 4.75% Due 12/1/21. (Original issue discount bonds delivered on or about
January 4, 1996 at a price of 92.294% of principal amount.)
500,000 South Essex Sewerage District, Massachusetts, General Obligation Sewer 2006 at 102 AAA Aaa
Bonds, 1996 Series A, 5.25% Due 6/15/24.
250,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 1997, 5.375% Due 2007 at 100 AAA Aaa
7/1/25. (Original issue discount bonds delivered on or about April 3, 1997
at a price of 93.725% of principal amount.)(General Obligation Bonds.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 BONDS FROM MASSACHUSETTS 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 06/20/97.
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 $.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 $ 101.83 4.90 % 4.89% 4.91% 4.93% 4.94% 4.94% 4.96 %
500 / $50,000 101.67 4.75 4.90 4.92 4.93 4.95 4.95 4.97
1,000 / $100,000 101.40 4.50 4.92 4.94 4.95 4.97 4.97 4.99
2,500 / $250,000 101.14 4.25 4.93 4.96 4.96 4.99 4.98 5.01
5,000 / $500,000 100.35 3.50 4.97 5.02 5.00 5.05 5.02 5.07
10,000 / $1,000,000 99.84 3.00 4.99 5.05 5.02 5.08 5.04 5.10
25,000 / $2,500,000 99.32 2.50 5.02 5.09 5.05 5.12 5.07 5.14
50,000 / $5,000,000 98.82 2.00 5.04 5.12 5.08 5.15 5.10 5.17
</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 36.5% 39.5% 43.5% 47.0%
<C> <S> <C> <C> <C> <C>
4.89 % 7.70% 8.08% 8.65% 9.23 %
4.90 7.72 8.10 8.67 9.25
4.92 7.75 8.13 8.71 9.28
4.93 7.76 8.15 8.73 9.30
4.97 7.83 8.21 8.80 9.38
4.99 7.86 8.25 8.83 9.42
5.02 7.91 8.30 8.88 9.47
5.04 7.94 8.33 8.92 9.51
</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
08/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 8/15/97 $ .5259
Monthly plan 9/15/97 .4152 $ 4.9843
Quarterly plan 11/15/97 1.2537
2/15/98 1.2537 5.0163
Semi-annual plan 11/15/97 1.2582
5/15/98 2.5164 5.0353
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.87 = 98.164
investment offering price # of units
(as of and accrued purchased
06/20/97) interest
98.164 X $4.9843 = $489.28
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
