<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 290 951
- --------------------------------------------------------------------------------
<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: July 16, 1997
4.84 - 5.04%
ESTIMATED LONG-TERM RETURN:
4.85 - 5.13%
</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 24.4 years
Call Protection Earliest ordinary optional call is 2006
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.05 to $98.06 depending on the purchase amount
Cusip 67065A 611 monthly payment plan
Numbers 67065A 629 quarterly payment plan
67065A 637 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 28.6%
2019-20 28.5%
2021-22 0.0%
2023-24 14.3%
2025+ 28.6%
The earliest ordinary optional call date is 2006
YIELD COMPARISON AS OF 07/15/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.84%
Tax Equivalent Yield 8.34%
Treasury Bonds
Yield 6.57%
Tax Equivalent Yield 7.24%
Corporate Bonds
Yield 7.27%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 07/15/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 07/14/97. 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.
320,000 California Health Facilities Financing Authority, Insured Refunding Revenue 2007 at 102 AAA Aaa
Bonds (Pomona Valley Hospital Medical Center), 1997 Series A, 5.625% Due
7/1/19.
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
500,000 Palm Desert Financing Authority, California, Tax Allocation Refunding 2007 at 102 AAA Aaa
Revenue Bonds (Project Area No. 1, As Amended), Series 1997, 5.45% Due
4/1/18. (When issued.)
500,000 Rio Linda Union School District, Sacramento County, California, 1997 2008 at 100 AAA Aaa
General Obligation Refunding Bonds, 5.25% Due 8/1/17.
500,000 County of Sacramento, California, Certificates of Participation, 1997 2007 at 102 AAA Aaa
Public Facilities Project (Solid Waste Facilities), 5.375% Due 2/1/19.
180,000 Saddleback Valley Unified School District, Public Financing Authority, No Optional AAA Aaa
Special Tax Revenue Bonds (County of Orange, State of California), 1996 Call
Series A Bonds, 0.00% Due 9/1/20. (Original issue discount bonds delivered
on or about January 16, 1997 at a price of 25.027% of principal amount.)
500,000 Public Facilities Financing Authority of the City of San Diego, California, 2007 at 101 AAA Aaa
Sewer Revenue Bonds, Series 1997B, 5.25% Due 5/15/27. (Original issue
discount bonds delivered on or about March 6, 1997 at a price of 94.781% of
principal amount.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 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 07/15/97.
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 $ 101.05 4.90 % 4.84% 4.85% 4.87% 4.89% 4.89% 4.91 %
500 / $50,000 100.89 4.75 4.85 4.86 4.88 4.90 4.90 4.92
1,000 / $100,000 100.63 4.50 4.86 4.88 4.89 4.92 4.91 4.94
2,500 / $250,000 100.37 4.25 4.87 4.90 4.91 4.94 4.92 4.96
5,000 / $500,000 99.59 3.50 4.91 4.96 4.94 5.00 4.96 5.02
10,000 / $1,000,000 99.07 3.00 4.94 4.99 4.97 5.03 4.99 5.05
25,000 / $2,500,000 98.56 2.50 4.96 5.03 5.00 5.07 5.01 5.09
50,000 / $5,000,000 98.06 2.00 4.99 5.07 5.02 5.11 5.04 5.13
</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>
4.84 % 7.39% 7.74% 8.34% 8.80 %
4.85 7.40 7.76 8.36 8.82
4.86 7.42 7.78 8.38 8.84
4.87 7.44 7.79 8.40 8.85
4.91 7.50 7.86 8.47 8.93
4.94 7.54 7.90 8.52 8.98
4.96 7.57 7.94 8.55 9.02
4.99 7.62 7.98 8.60 9.07
</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
09/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 9/15/97 $ .6111
Monthly plan 10/15/97 .4074 $ 4.8916
Quarterly plan 11/15/97 .8202
2/15/98 1.2303 4.9236
Semi-annual plan 11/15/97 .8232
5/15/98 2.4696 4.9426
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.12 = 98.892
investment offering price # of units
(as of and accrued purchased
07/15/97) interest
98.892 X $4.8916 = $483.74
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN NEW JERSEY NUVEEN
INSURED UNIT TRUST 221 951
- --------------------------------------------------------------------------------
<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: July 16, 1997
4.80 - 5.00%
ESTIMATED LONG-TERM RETURN:
4.81 - 5.07%
</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 27.0 years
Call Protection Earliest ordinary optional call is 2004
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.88 to $98.87 depending on the purchase amount
Cusip 6706LC 106 monthly payment plan
Numbers 6706LC 114 quarterly payment plan
6706LC 122 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)
2020-22 28.5%
2023-25 28.6%
2026+ 42.9%
The earliest ordinary optional call date is 2004
YIELD COMPARISON AS OF 07/15/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.80%
Tax Equivalent Yield 8.00%
Treasury Bonds
Yield 6.57%
Tax Equivalent Yield 7.02%
Corporate Bonds
Yield 7.27%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 07/15/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 07/14/97. 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>
----------------------------------------------------------------------------------------------------------------
$ 500,000 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, Revenue Bonds, Trenton State 2006 at 101 AAA Aaa
College Issue, Series 1996 A, 5.125% Due 7/1/24.
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, Revenue Bonds (Delaware and New 2004 at 102 AAA Aaa
Jersey), Series 1993, 4.75% Due 1/1/24. (Original issue discount bonds
delivered on or about October 27, 1993 at a price of 94.631% of principal
amount.)
500,000 Delaware River Port Authority (New Jersey and Pennsylvania), Revenue Bonds, 2006 at 102 AAA Aaa
Series of 1995, 5.50% Due 1/1/26.
500,000 The Board of Education of the Township of Freehold, in the County of 2006 at 100 AAA Aaa
Monmouth, New Jersey, School Bonds, 5.40% Due 7/15/27. (General Obligation
Bonds.) (When issued.)
500,000 North Jersey District Water Supply Commission of the State of New Jersey, 2007 at 101 AAA Aaa
Wanaque North Project, Revenue Refunding Bonds, Series 1997, 5.125% Due
11/15/21. (When issued.)
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 7 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 07/15/97.
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 $ 101.88 4.90 % 4.80% 4.81% 4.83% 4.84% 4.85% 4.86 %
500 / $50,000 101.72 4.75 4.81 4.82 4.84 4.85 4.86 4.87
1,000 / $100,000 101.46 4.50 4.82 4.84 4.85 4.87 4.87 4.89
2,500 / $250,000 101.19 4.25 4.83 4.85 4.87 4.88 4.89 4.90
5,000 / $500,000 100.40 3.50 4.87 4.91 4.90 4.94 4.92 4.96
10,000 / $1,000,000 99.89 3.00 4.90 4.94 4.93 4.97 4.95 5.00
25,000 / $2,500,000 99.37 2.50 4.92 4.98 4.96 5.01 4.97 5.03
50,000 / $5,000,000 98.87 2.00 4.95 5.01 4.98 5.04 5.00 5.07
</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>
4.80 % 7.06% 7.44% 8.00% 8.50 %
4.81 7.07 7.46 8.02 8.51
4.82 7.09 7.47 8.03 8.53
4.83 7.10 7.49 8.05 8.55
4.87 7.16 7.55 8.12 8.62
4.90 7.21 7.60 8.17 8.67
4.92 7.24 7.63 8.20 8.71
4.95 7.28 7.67 8.25 8.76
</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
09/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 9/15/97 $ .6111
Monthly plan 10/15/97 .4074 $ 4.8923
Quarterly plan 11/15/97 .8202
2/15/98 1.2303 4.9243
Semi-annual plan 11/15/97 .8238
5/15/98 2.4714 4.9433
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.95 = 98.087
investment offering price # of units
(as of and accrued purchased
07/15/97) interest
98.087 X $4.8923 = $479.87
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
