Supplement dated January 16, 1996 to prospectuses of all
PaineWebber Municipal Bond Trust Series
Effective immediately the Effective Sales Charge for
secondary market purchases of units of these
Series will be computed as follows:
As As
Percent Percent
of Bid of
Side Public
Time to Maturity Evaluat Offerin
ion g Price
Less than six 0 % 0 %
months
Six months to 0.503 0.50
less than 1 year
1 year to less 1.010 1.00
than 2 years
2 years to less 1.523 1.50
than 3 years
3 years to less 2.302 2.25
than 4 years
4 years to less 2.828 2.75
than 5 years
5 years to less 3.093 3.00
than 6 years
6 years to less 3.359 3.25
than 7 years
7 years to less 3.627 3.50
than 8 years
8 years to less 4.167 4.00
than 9 years
9 years to less 4.439 4.25
than 12 years
12 years to less 4.712 4.50
than 15 years
15 years or more 5.820 5.50
For this purpose, a Bond will be considered to mature on its
stated maturity date unless: it has been called for
redemption; (although not called) its yield to maturity is
more than 40 basis points higher than its yield to any call
date; funds or securities have been placed in escrow to
redeem it on an earlier date; or the Bond is subject to a
mandatory tender. In each of these cases the earlier date
will be considered the maturity date.
