<PAGE>
NUVEEN
NUVEEN VIRGINIA
TRADITIONAL UNIT TRUST 318 956
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ESTIMATED CURRENT RETURN: NUVEEN TAX-FREE UNIT TRUSTS:
4.87 - 5.07% For the tax-sensitive, conservative investor.
ESTIMATED LONG-TERM RETURN: - Double Tax-Free
4.90 - 5.16% - Dependable Income
DATE OF DEPOSIT: August 18, 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 25.4 years
Call Protection Earliest ordinary optional call is 2005
Minimum $5,000 or 50 units, whichever is lower
Investment
Offering Price $101.12 to $98.13 depending on the purchase amount
Cusip 6706LB 462 monthly payment plan
Numbers 6706LB 470 quarterly payment plan
6706LB 488 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 43%
AA 57
---------
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)
2015-17 28.5%
2018-20 14.3%
2021-23 14.3%
2024-26 14.3%
2027+ 28.6%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 08/15/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.87%
Tax Equivalent Yield 8.05%
Treasury Bonds
Yield 6.55%
Tax Equivalent Yield 6.95%
Corporate Bonds
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Yield 7.33%
</TABLE>
*COMPARES TRUST AS OF 08/15/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 08/14/97. 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 Metropolitan Washington (D.C.) Airports Authority, Airport System Revenue AA- Aa3
Bonds, Series 1997A, 5.375% Due 10/1/23. 2007 at 101
500,000 Commonwealth Transportation Board, Commonwealth of Virginia, Transportation AA Aa2
Program Revenue Bonds, Series 1997A (Oak Grove Connector, City of Chesa-
peake), 5.25% Due 5/15/16. 2007 at 101
500,000 Chesapeake Bay Bridge and Tunnel District (Virginia), General Resolution AAA Aaa
Revenue Bonds, Refunding Series 1996, 5.25% Due 7/1/19. (MBIA Insured.) 2005 at 102
500,000 Fairfax County Water Authority (Virginia), Water Refunding Revenue Bonds, AA Aa2
Series 1997, 5.00% Due 4/1/29. (When issued.) 2007 at 102
500,000 City of Norfolk, Virginia, General Obligation Capital Improvement Bonds, AA A1
Series 1996, 5.25% Due 6/1/16. (Original issue discount bonds delivered on
or about April 12, 1996 at a price of 94.073% of principal amount.) 2006 at 101
500,000 Industrial Development Authority of The City of Norfolk (Virginia), Health AAA Aaa
Care Revenue Bonds, Series 1997 (Bon Secours Health System), 5.25% Due
8/15/26. (MBIA Insured.) 2007 at 102
500,000 Upper Occoquan Sewage Authority (Virginia), Regional Sewerage System AAA Aaa
Revenue Bonds, Series of 1995A, 4.75% Due 7/1/29. (Original issue discount
bonds delivered on or about January 9, 1996 at a price of 91.422% of
principal amount.)(MBIA Insured.) 2006 at 100
----------------------------------------------------------------------------------------------------------------
$ 3,500,000 TOTAL 6 BONDS FROM VIRGINIA AND ONE BOND FROM THE DISTRICT OF COLUMBIA.
</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 08/15/97.
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 $.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 $ 101.12 4.90 % 4.87% 4.90% 4.90% 4.93% 4.92% 4.95 %
500 / $50,000 100.97 4.75 4.88 4.90 4.91 4.93 4.93 4.95
1,000 / $100,000 100.70 4.50 4.89 4.93 4.92 4.96 4.94 4.98
2,500 / $250,000 100.44 4.25 4.90 4.94 4.93 4.97 4.95 4.99
5,000 / $500,000 99.66 3.50 4.94 5.00 4.97 5.03 4.99 5.05
10,000 / $1,000,000 99.14 3.00 4.97 5.04 5.00 5.07 5.02 5.09
25,000 / $2,500,000 98.64 2.50 4.99 5.07 5.02 5.10 5.04 5.12
50,000 / $5,000,000 98.13 2.00 5.02 5.11 5.05 5.14 5.07 5.16
</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>
4.87 % 7.16% 7.49% 8.05% 8.54 %
4.88 7.18 7.51 8.07 8.56
4.89 7.19 7.52 8.08 8.58
4.90 7.21 7.54 8.10 8.60
4.94 7.26 7.60 8.17 8.67
4.97 7.31 7.65 8.21 8.72
4.99 7.34 7.68 8.25 8.75
5.02 7.38 7.72 8.30 8.81
</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
10/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 10/15/97 $ .5878
Monthly plan 11/15/97 .4101 $ 4.9242
Quarterly plan 11/15/97 .4128
2/15/98 1.2384 4.9562
Semi-annual plan 11/15/97 .4146
5/15/98 2.4876 4.9752
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 101.16 = 98.853
investment offering price # of units
(as of and accrued purchased
08/15/97) interest
98.853 X $4.9242 = $486.77
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
<PAGE>
NUVEEN CALIFORNIA NUVEEN
INSURED UNIT TRUST 291 956
- --------------------------------------------------------------------------------
<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: August 18, 1997
4.86 - 5.06%
ESTIMATED LONG-TERM RETURN:
4.88 - 5.14%
</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 67065A 645 monthly payment plan
Numbers 67065A 652 quarterly payment plan
67065A 660 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)
2019-20 28.6%
2021-22 17.9%
2023-24 14.3%
2025-26 24.9%
2027+ 14.3%
The earliest ordinary optional call date is 2005
YIELD COMPARISON AS OF 08/15/97*
(Description of Yield Comparison Chart)
Nuveen UIT
Yield 4.86%
Tax Equivalent Yield 8.38%
Treasury Bonds
Yield 6.55%
Tax Equivalent Yield 7.22%
Corporate Bonds
Yield 7.33%
</TABLE>
<PAGE>
*COMPARES TRUST AS OF 08/15/97 WITH 30-YEAR TREASURY BONDS AND LEHMAN BROTHERS
INVESTMENT GRADE LONG CORPORATE BOND INDEX AS OF 08/14/97. 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, Department of Water Resources, Central Valley Project, 2006 at 101.5 AAA Aaa
Water System Revenue Bonds, Series Q, 5.375% Due 12/1/27.
125,000 Burbank Unified School District (Los Angeles County, California), General No Optional AAA Aaa
Obligation Bonds, 1997 Election, Series A, 0.00% Due 8/1/22. (Original Call
issue discount bonds will be delivered on or about August 21, 1997 at a
price of 24.611% of principal amount.)(When issued.)
500,000 Eastern Municipal Water District (California), Water and Sewer Revenue 2007 at 101 AAA Aaa
Refunding Certificates of Participation, Series 1997A, 5.25% Due 7/1/23.
500,000 Los Angeles County Metropolitan Transportation Authority (California), 2005 at 100 AAA Aaa
Proposition C Sales Tax Revenue Bonds, Second Senior Bonds, Series 1995-A,
5.00% Due 7/1/25. (Original issue discount bonds delivered on or about July
26, 1995 at a price of 88.18% of principal amount.)
500,000 Port of Oakland, California, Refunding Revenue Bonds, 1997 Series I, 5.60% 2007 at 102 AAA Aaa
Due 11/1/19.
500,000 San Francisco State Building Authority (California), Lease Revenue Bonds 2006 at 102 AAA Aaa
(State Of California San Francisco Civic Center Complex), 1996 Series A,
5.25% Due 12/1/21.
500,000 San Jose-Santa Clara Clean Water Financing Authority (California), Sewer 2005 at 101 AAA Aaa
Revenue Series 1995A Bonds, 5.375% Due 11/15/20.
375,000 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 CALIFORNIA 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 08/15/97.
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 $.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 $ 100.60 4.90 % 4.86% 4.88% 4.89% 4.92% 4.91% 4.93 %
500 / $50,000 100.44 4.75 4.86 4.89 4.90 4.93 4.92 4.94
1,000 / $100,000 100.18 4.50 4.88 4.91 4.91 4.95 4.93 4.96
2,500 / $250,000 99.92 4.25 4.89 4.93 4.92 4.97 4.94 4.97
5,000 / $500,000 99.14 3.50 4.93 4.98 4.96 5.02 4.98 5.03
10,000 / $1,000,000 98.63 3.00 4.95 5.02 4.99 5.06 5.01 5.07
25,000 / $2,500,000 98.12 2.50 4.98 5.06 5.01 5.10 5.03 5.11
50,000 / $5,000,000 97.62 2.00 5.01 5.09 5.04 5.13 5.06 5.14
</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>
4.86 % 7.42% 7.78% 8.38% 8.84 %
4.86 7.42 7.78 8.38 8.84
4.88 7.45 7.81 8.41 8.87
4.89 7.47 7.82 8.43 8.89
4.93 7.53 7.89 8.50 8.96
4.95 7.56 7.92 8.53 9.00
4.98 7.60 7.97 8.59 9.05
5.01 7.65 8.02 8.64 9.11
</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
10/01/97.
<TABLE>
<CAPTION>
Annual
First Payment Payment Income
Payment Plan Date (per unit) (per unit)
<S> <C> <C> <C> <C>
Initial payment
(all plans) 10/15/97 $ .5835
Monthly plan 11/15/97 .4071 $ 4.8860
Quarterly plan 11/15/97 .4098
2/15/98 1.2294 4.9180
Semi-annual plan 11/15/97 .4113
5/15/98 2.4678 4.9370
EXAMPLE OF HOW TO CALCULATE YOUR ESTIMATED INCOME:
$10,000 DIVIDED BY 100.64 = 99.364
investment offering price # of units
(as of and accrued purchased
08/15/97) interest
99.364 X $4.8860 = $485.49
# of units annual income annual income
purchased per unit
(monthly plan)
</TABLE>
