<PAGE>
NUVEEN Tax-Exempt Unit Trusts
Nuveen
National
Trust 527
(National Traditional Trust 527)
Estimated Current Return
5.10% to 5.25%
as of 01/12/94
Estimated Long Term Return
5.15% to 5.32%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds
Cusip:
67101E 700 Monthly Payment Option
67101E 718 Quarterly Payment Option
67101E 726 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--NATIONAL TRADITIONAL TRUST 527
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 State Public Works Board of the State of California, Lease 2003 at 102 A A1
Revenue Bonds (The Regents of the University of
California), 1993 Series B (Various University of
California Projects), 5.50% Due 6/1/19.
500,000 Jefferson County School District No. R-1 (Jefferson County, 2002 at 101 AAA Aaa
Colorado), General Obligation Bonds, Series 1992, 6.00%
Due 12/15/12. (AMBAC Insured.)
260,000 City of Thornton, Colorado, General Obligation Water No Optional AAA Aaa
Refunding Capital Appreciation Bonds, Series 1991, 0.00% Call
Due 12/1/13. (Original issue discount bonds delivered on
or about March 14, 1991 at a price of 21.656% of principal
amount.)(FGIC Insured.)
410,000 Illinois Health Facilities Authority, Central DuPage Health 2002 at 102 AAA Aaa
System Revenue Bonds, Series 1992 (Wyndemere Retirement
Community Project), 5.75% Due 11/1/22. (Original issue
discount bonds delivered on or about February 20, 1992 at
a price of 88.924% of principal amount.)(MBIA Insured.)
750,000 The Illinois State Toll Highway Authority, Toll Highway 2003 at 102 AAA Aaa
Priority Revenue Bonds, 1992 Series A, 5.75% Due 1/1/17.
(Original issue discount bonds delivered on or about
October 14, 1992 at a price of 92.619% of principal
amount.)(FGIC Insured.)
470,000 Illinois Development Finance Authority, Pollution Control 2003 at 102 AA Aa2
Revenue Refunding Bonds (Central Illinois Public Service
Company), 1993 Series B-2, 5.90% Due 6/1/28.
300,000 Illinois Educational Facilities Authority, Revenue Bonds, 2003 at 102 A A1
Illinois Wesleyan University, Series 1993, 5.625% Due
9/1/18.
475,000 Illinois Health Facilities Authority Revenue Refunding 2003 at 102 A- A
Bonds, Series 1993 (Illinois Masonic Medical Center),
5.50% Due 10/1/19. (Original issue discount bonds
delivered on or about November 18, 1993 at a price of
94.719% of principal amount.)
730,000 Indiana Health Facility Financing Authority, Hospital 2003 at 102 A --
Refunding Revenue Bonds, Series 1993 (Welborn Memorial
Baptist Hospital Project), 5.625% Due 7/1/23.
280,000 County Commissioners of Charles County, Maryland, Mortgage 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1994A (Holly Station III
Townhouses Project-FHA Insured Mortgage Loan), 5.875% Due
7/1/25. (When issued.) (MBIA Insured.)
740,000 State of Michigan, State Trunk Line Fund Refunding Bonds, 2002 at 100 AA- A1
Series 1992B-1, 5.50% Due 10/1/21. (Original issue
discount bonds delivered on or about July 30, 1992 at a
price of 90.625% of principal amount.)
750,000 Medical Center Educational Building Corporation 2004 at 102 A- --
(Mississippi), Revenue Bonds, Series 1993 (University of
Mississippi Medical Center Project), 5.90% Due 12/1/23.
750,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 A- A
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal
1994 Series B, 5.50% Due 6/15/19.
125,000 City of Charlotte, North Carolina, Refunding Certificates of 2003 at 102 AAA Aaa
Participation (Convention Facility Project), Series 1993C,
5.25% Due 12/1/20. (Original issue discount bonds
delivered on or about August 25, 1993 at a price of
93.801% of principal amount.)(AMBAC Insured.)
750,000 Gregg County Health Facilities Development Corporation 2003 at 102 AAA Aaa
(Texas), Hospital Revenue Refunding Bonds (Good Shepherd
Medical Center Project), Series 1993, 5.50% Due 10/1/15.
(Original issue discount bonds delivered on or about June
2, 1993 at a price of 94.75% of principal amount.)(AMBAC
Insured.)
250,000 Texas Municipal Power Agency, Refunding Revenue Bonds, No Optional AAA Aaa
Series 1993, 0.00% Due 9/1/17. (Original issue discount Call
bonds delivered on or about June 29, 1993 at a price of
23.126% of principal amount.)(MBIA Insured.)
210,000 Intermountain Power Agency (Utah), Power Supply Revenue 2003 at 102 AA Aa
Refunding Bonds, 1993 Series A, 5.50% Due 7/1/20.
750,000 Washington Public Power Supply System, Nuclear Project No. 3 2003 at 102 AA Aa
Refunding Revenue Bonds, Series 1993B, 5.625% Due 7/1/12.
750,000 Wisconsin Health and Educational Facilities Authority 2003 at 102 AAA Aaa
Revenue Bonds (Sisters of the Sorrowful Mother-Ministry
Corporation), Series 1993C, 5.50% Due 8/15/19. (When
issued.) (MBIA Insured.)
----------
$10,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 101.91 5.10% 5.13% 5.15%
1,000-2,499 100,000-249,999 4.50 101.49 5.12 5.15 5.17
2,500-4,999 250,000-499,999 4.25 101.22 5.14 5.17 5.19
5,000-9,999 500,000-999,999 3.50 100.44 5.18 5.21 5.23
10,000 and over 1,000,000 and over 3.00 99.92 5.20 5.24 5.25
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 101.91 5.15% 5.19% 5.21%
1,000-2,499 100,000-249,999 4.50 101.49 5.18 5.21 5.23
2,500-4,999 250,000-499,999 4.25 101.22 5.19 5.23 5.24
5,000-9,999 500,000-999,999 3.50 100.44 5.23 5.27 5.29
10,000 and over 1,000,000 and over 3.00 99.92 5.26 5.30 5.32
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National Traditional Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3511(1) $ 5.1994
-------- $.4332 every month --------
Quarterly Distribution Plan........... $ .3511(1) $ .4359(2) $ 1.3078 $ 1.3078 $ 5.2314
Semi-Annual Distribution Plan......... $ .3511(1) $ .4375(3) $ 2.6252 $ 5.2504
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01444 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$1.1263 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.3511, and the
remaining $.7752 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01444 Quarterly - $0.01453
Semi-Annual - $0.01458
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 19 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 13 states.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 7.7
Colorado 5.6
Illinois 25.6
Indiana 7.7
Maryland 3.1
Michigan 7.6
Mississippi 8.3
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
North Carolina 1.2
New York 7.7
Texas 7.7
Utah 2.2
Washington 7.9
Wisconsin 7.7
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE
The average maturity of portfolio bonds is 25.5 years. The first bond is
scheduled to mature in July, 2012, with the last bond maturity being June, 2028.
- -------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------
<TABLE>
<CAPTION>
Rating Percent of Portfolio
Category Par Value
<S> <C> <C>
- -------------------------------------------------------------
AAA 41%
AA 22
A1/A+ 10
A 27
---
100%
</TABLE>
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
712
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NORTH CAROLINA
TRUST 272
(NORTH CAROLINA TRADITIONAL TRUST 272)
Estimated Current Return
4.78% to 4.93%
as of 01/12/94
Estimated Long Term Return
4.83% to 4.98%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
670958 644 Monthly Payment Option
670958 651 Quarterly Payment Option
670958 669 Semi-Annual Payment Option
Registered in North Carolina
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--NORTH CAROLINA TRADITIONAL TRUST 272
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 150,000 North Carolina Medical Care Commission, Hospital Revenue 2004 at 102 AA --
Bonds (Scotland Memorial Hospital Project), Series 1993,
5.375% Due 10/1/11. (ASSET GUARANTEED.)
525,000 North Carolina Municipal Power Agency Number 1, Catawba 2003 at 100 AAA Aaa
Electric Revenue Bonds, Series 1992, 5.75% Due 1/1/20.
(Original issue discount bonds delivered on or about
December 10, 1992 at a price of 92.75% of principal
amount.)(MBIA Insured.)
115,000 County of Caswell, North Carolina, General Obligation 2003 at 102 AAA Aaa
Refunding Bonds, Series 1993, 4.80% Due 6/1/11. (FGIC
Insured.)
150,000 City of Charlotte, North Carolina, Certificates of No Optional AAA Aaa
Participation, Series 1991 (Convention Facility Project), Call
0.00% Due 12/1/09. (Original issue discount bonds
delivered on or about July 2, 1991 at a price of 27.672%
of principal amount.)(AMBAC Insured.)
375,000 City of Charlotte, North Carolina, Refunding Certificates of 2003 at 102 AAA Aaa
Participation (Convention Facility Project), Series 1993C,
5.25% Due 12/1/20. (Original issue discount bonds
delivered on or about August 25, 1993 at a price of
93.801% of principal amount.)(AMBAC Insured.)
335,000 Craven Regional Medical Authority (North Carolina), Insured 2003 at 102 AAA Aaa
Health Care Facilities Revenue Bonds, Series 1993, 5.625%
Due 10/1/17. (MBIA Insured.)
500,000 County of Cumberland, North Carolina, Hospital Facility 2003 at 100 AAA Aaa
Revenue Refunding Bonds (Cumberland County Hospital
System, Inc.), Series 1993, 5.50% Due 10/1/14. (MBIA
Insured.)
165,000 City of Fayetteville, North Carolina, Public Works 2003 at 100 AAA Aaa
Commission Revenue Refunding Bonds, Series 1993, 4.75% Due
3/1/14. (Original issue discount bonds delivered on or
about November 23, 1993 at a price of 94.037% of principal
amount.)(FGIC Insured.)
525,000 County of New Hanover, North Carolina Hospital Revenue Bonds 2003 at 102 AAA Aaa
(New Hanover Regional Medical Center Project), Series
1993, 4.75% Due 10/1/23. (Original issue discount bonds
delivered on or about October 26, 1993 at a price of
92.775% of principal amount.)(AMBAC Insured.)
160,000 New Hanover County Water and Sewer District, North Carolina, 2003 at 102 A A1
General Obligation Refunding Bonds, Series 1994, 5.00% Due
6/1/12. (When issued.)
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% of principal
amount.)(MBIA Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 102.05 4.78% 4.81% 4.83%
1,000-2,499 100,000-249,999 4.50 101.62 4.80 4.83 4.85
2,500-4,999 250,000-499,999 4.25 101.36 4.82 4.85 4.87
5,000-9,999 500,000-999,999 3.50 100.57 4.85 4.89 4.90
10,000 and over 1,000,000 and over 3.00 100.05 4.88 4.91 4.93
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 102.05 4.83% 4.86% 4.88%
1,000-2,499 100,000-249,999 4.50 101.62 4.85 4.88 4.90
2,500-4,999 250,000-499,999 4.25 101.36 4.86 4.89 4.91
5,000-9,999 500,000-999,999 3.50 100.57 4.90 4.93 4.95
10,000 and over 1,000,000 and over 3.00 100.05 4.93 4.96 4.98
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
North Carolina Traditional Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3958(1) $ 4.8811
-------- $.4067 every month --------
Quarterly Distribution Plan........... $ .3958(1) $ .4094(2) $ 1.2282 $ 1.2282 $ 4.9131
Semi-Annual Distribution Plan......... $ .3958(1) $ .4110(3) $ 2.4660 $ 4.9321
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01356 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$1.0576 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.3958, and the
remaining $.6618 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01356 Quarterly - $0.01365
Semi-Annual - $0.01370
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
712
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.8 years.
The first bond is scheduled to mature in December, 2009, with the last bond
maturity being October, 2023.
- -------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------
<TABLE>
<CAPTION>
Rating Percent of Portfolio
Category Par Value
<S> <C> <C>
- -------------------------------------------------------------
AAA 91%
AA 4
A1/A+ 5
---
100%
</TABLE>
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
INTERMEDIATE
INSURED
TRUST 72
Estimated Current Return
First
Year: 4.15% to 4.25%
Subsequent
Years: 4.20% to 4.31%
as of 01/12/94
Estimated Long Term Return
4.34% to 4.44%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67093H 687 Monthly Payment Option
67093H 695 Quarterly Payment Option
67093H 703 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, INTERMEDIATE INSURED TRUST 72
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 Alabama Corrections Institution Finance Authority, Revenue 2003 at 102 AAA Aaa
Bonds, Series 1993-A, 5.00% Due 4/1/04.
500,000 North Slope Borough, Alaska, General Obligation Bonds, No Optional AAA Aaa
Series 1993B, 0.00% Due 1/1/03. (Original issue discount Call
bonds delivered on or about October 5, 1993 at a price of
62.233% of principal amount.)
1,000,000 The Industrial Development Authority of the County of Pima, No Optional AAA Aaa
Arizona, Health Care System Revenue Bonds, Carondelet Call
Health Care Corporation of Arizona Issue, Series 1993,
4.75% Due 7/1/03.
1,000,000 California Health Facilities Financing Authority, Insured No Optional AAA Aaa
Health Facility Refunding Revenue Bonds (Catholic Call
Healthcare West), 1994 Series A, 4.70% Due 7/1/03. (When
issued.)
445,000 Southern California Public Power Authority, San Juan Power 2003 at 102 AAA Aaa
Project Revenue Bonds, 1993 Series A (San Juan Unit 3),
5.00% Due 1/1/04.
1,000,000 The Regents of the University Of California, Refunding 2003 at 102 AAA Aaa
Revenue Bonds, (1989 Multiple Purpose Projects), Series C,
4.80% Due 9/1/04.
615,000 District of Columbia (Washington, D.C.), General Obligation 2003 at 102 AAA Aaa
Refunding Bonds, Series 1993C, 5.25% Due 12/1/04.
650,000 The Economic Development Corporation of the City of Dearborn No Optional AAA Aaa
(Michigan), Hospital Revenue Refunding Bonds (Oakwood Call
Obligated Group), Series 1993B, 4.90% Due 8/15/04. (When
issued.)
1,000,000 The Industrial Development Authority of the County of No Optional AAA Aaa
Jackson, State of Missouri Health Care System Revenue Call
Bonds, Saint Joseph Health Center Issue, Series 1993,
4.85% Due 7/1/04.
715,000 South Dakota Board of Regents, South Dakota State University No Optional AAA Aaa
Housing and Auxiliary Facilities, Revenue Bonds, Series Call
1994A,
360M-4.70% Due 4/1/03,
355M-4.80% Due 4/1/04.
(When issued.)
725,000 City of Austin, Texas, Hotel Occupancy Tax Revenue Refunding No Optional AAA Aaa
Bonds, Series 1993A, 4.60% Due 11/15/03. Call
1,000,000 Harris County, Texas, Toll Road Senior Lien Revenue No Optional AAA Aaa
Refunding Bonds, Series 1994, 4.65% Due 8/15/03. (When Call
issued.)
100,000 Washington Public Power Supply System, Nuclear Project No. 2 No Optional AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.25% Due 7/1/03. Call
250,000 Washington Public Power Supply System, Nuclear Project No. 3 No Optional AAA Aaa
Refunding Revenue Bonds, Series 1990B, 0.00% Due 7/1/04. Call
(Original issue discount bonds delivered on or about June
21, 1990 at a price of 35.841% of principal amount.)
----------
$10,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 3.90 % $ 102.47 (4.15%) 4.20% (4.18%) 4.24% (4.20%) 4.25%
1,000-2,499 100,000-249,999 3.50 102.04 (4.17) 4.22 (4.20) 4.25 (4.22) 4.27
2,500-4,999 250,000-499,999 3.25 101.78 (4.18) 4.23 (4.21) 4.26 (4.23) 4.28
5,000-9,999 500,000-999,999 3.00 101.52 (4.19) 4.24 (4.22) 4.27 (4.24) 4.29
10,000 and over 1,000,000 and over 2.75 101.25 (4.20) 4.25 (4.23) 4.29 (4.25) 4.31
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 3.90 % $ 102.47 4.34% 4.37% 4.39%
1,000-2,499 100,000-249,999 3.50 102.04 4.36 4.39 4.41
2,500-4,999 250,000-499,999 3.25 101.78 4.37 4.40 4.42
5,000-9,999 500,000-999,999 3.00 101.52 4.38 4.41 4.43
10,000 and over 1,000,000 and over 2.75 101.25 4.39 4.42 4.44
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Intermediate Insured Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2853(1) $ 4.3080
-------- $.3589 every month --------
Quarterly Distribution Plan........... $ .2853(1) $ .3616(2) $ 1.0849 $ 1.0849 $ 4.3400
Semi-Annual Distribution Plan......... $ .2853(1) $ .3632(3) $ 2.1794 $ 4.3590
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01197 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$0.9336 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.2853, and the
remaining $.6483 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01197 Quarterly - $0.01206
Semi-Annual - $0.01211
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 14 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 8 states and the District of Columbia.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Alabama 11.2
Arizona 10.6
California 26.3
Washington D.C. 7.2
Michigan 7.1
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Missouri 10.9
South Dakota 7.6
Texas 17.9
Washington 1.2
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 10.0 years.
The first bond is scheduled to mature in January, 2003, with the last bond
maturity being December, 2004.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
712
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MICHIGAN
INSURED
TRUST 52
Estimated Current Return
First
Year: 4.89% to 5.04%
Subsequent
Years: 4.90% to 5.05%
as of 01/12/94
Estimated Long Term Return
4.92% to 5.06%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67095D 858 Monthly Payment Option
67095D 866 Quarterly Payment Option
67095D 874 Semi-Annual Payment Option
Registered in Michigan
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, MICHIGAN INSURED TRUST 52
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 395,000 Michigan Public Power Agency, Belle River Project Refunding 2003 at 102 AAA Aaa
Revenue Bonds, 1993 Series A, 5.25% Due 1/1/18. (Original
issue discount bonds delivered on or about April 14, 1993
at a price of 92.50% of principal amount.)
525,000 State of Michigan, State Trunk Line Fund Refunding Bonds, 2002 at 100 AAA Aaa
Series 1992B-1, 5.50% Due 10/1/21. (Original issue
discount bonds delivered on or about July 30, 1992 at a
price of 90.625% of principal amount.)
330,000 Regents of the University of Michigan, Hospital Revenue 2002 at 102 AAA Aaa
Refunding Bonds, Series 1993A, 5.50% Due 12/1/21.
(Original issue discount bonds delivered on or about
January 19, 1993 at a price of 89.412% of principal
amount.)
525,000 The Economic Development Corporation of the City of Dearborn 2004 at 102 AAA Aaa
(Michigan), Hospital Revenue Refunding Bonds (Oakwood
Obligated Group), Series 1993B, 5.25% Due 8/15/21. (When
issued.)
475,000 City of Kalamazoo Building Authority, Kalamazoo County, 2002 at 101 AAA Aaa
Michigan, Building Authority Bonds, Series 1993 A, 5.90% 1/2
Due 10/1/13. (General Obligation Bonds.)
200,000 Okemos Public Schools, County of Ingham, State of Michigan, No Optional AAA Aaa
1993 Refunding Bonds, 0.00% Due 5/1/20. (Original issue Call
discount bonds delivered on or about February 2, 1993 at a
price of 17.271% of principal amount.)(General Obligation
Bonds.)
525,000 City of Royal Oak Hospital Finance Authority (Michigan), 2003 at 102 AAA Aaa
Hospital Revenue Refunding Bonds (William Beaumont
Hospital), Series 1993G, 5.50% Due 11/15/13.
525,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% of principal
amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 101.27 (4.89%) 4.90% (4.92%) 4.93% (4.94%) 4.95%
1,000-2,499 100,000-249,999 4.50 100.85 (4.91) 4.92 (4.94) 4.95 (4.96) 4.97
2,500-4,999 250,000-499,999 4.25 100.59 (4.92) 4.93 (4.95) 4.96 (4.97) 4.98
5,000-9,999 500,000-999,999 3.50 99.80 (4.96) 4.97 (4.99) 5.00 (5.01) 5.02
10,000 and over 1,000,000 and over 3.00 99.29 (4.98) 5.00 (5.02) 5.03 (5.04) 5.05
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 101.27 4.92% 4.95% 4.96%
1,000-2,499 100,000-249,999 4.50 100.85 4.94 4.97 4.99
2,500-4,999 250,000-499,999 4.25 100.59 4.95 4.98 5.00
5,000-9,999 500,000-999,999 3.50 99.80 4.99 5.02 5.04
10,000 and over 1,000,000 and over 3.00 99.29 5.02 5.04 5.06
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Michigan Insured Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4134(1) $ 4.9617
-------- $.4134 every month --------
Quarterly Distribution Plan........... $ .4134(1) $ .4161(2) $ 1.2484 $ 1.2484 $ 4.9937
Semi-Annual Distribution Plan......... $ .4134(1) $ .4177(3) $ 2.5063 $ 5.0127
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01378 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$1.0748 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.4134, and the
remaining $.6614 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01378 Quarterly - $0.01387
Semi-Annual - $0.01392
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
712
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.5 years.
The first bond is scheduled to mature in October, 2013, with the last bond
maturity being December, 2021.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
OHIO
INSURED
TRUST 111
Estimated Current Return
4.74% to 4.89%
as of 01/12/94
Estimated Long Term Return
4.77% to 4.91%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 284 Monthly Payment Option
67101Y 292 Quarterly Payment Option
67101Y 300 Semi-Annual Payment Option
Registered in Ohio
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, OHIO INSURED TRUST 111
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 110,000 State of Ohio, Full Faith and Credit, Series 1993, College No Optional AAA Aaa
Savings Bonds, 0.00% Due 8/1/10. (Original issue discount Call
bonds delivered on or about December 9, 1993 at a price of
40.861% of principal amount.)(General Obligation Bonds.)
500,000 Ohio Air Quality Development Authority, State of Ohio, % 2004 at 102 AAA Aaa
Collateralized Air Quality Development Revenue Refunding
Bonds, 1994 Series B (The Cincinnati Gas & Electric
Company Project), 5.45% Due 1/1/24.
525,000 Ohio Water Development Authority, Water Development Revenue 2002 at 102 AAA Aaa
Refunding Bonds, Pure Water Refunding and Improvement
Series, 5.50% Due 12/1/11. (Original issue discount bonds
delivered on or about October 14, 1992 at a price of
91.688% of principal amount.)
425,000 Hamilton County, Ohio, Sewer System Improvement and 2003 at 100 AAA Aaa
Refunding Revenue Bonds, 1993 Series A (The Metropolitan
Sewer District of Greater Cincinnati), 5.00% Due 12/1/14.
(Original issue discount bonds delivered on or about May
4, 1993 at a price of 92.50% of principal amount.)
525,000 County of Lucas, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993C (St. Vincent Medical Center), 5.25% Due
8/15/22.
460,000 County of Lucas, Ohio, Hospital Improvement and Refunding 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993 (The Toledo Hospital), 5.00%
Due 11/15/22. (Original issue discount bonds delivered on
or about July 29, 1993 at a price of 91.402% of principal
amount.)
430,000 City of Warren, Ohio, General Obligation Multiple Purpose 2003 at 102 AAA Aaa
Bonds, Series 1993, 5.20% Due 11/15/13.
525,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% of principal
amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 103.45 4.74% 4.77% 4.79%
1,000-2,499 100,000-249,999 4.50 103.02 4.76 4.79 4.81
2,500-4,999 250,000-499,999 4.25 102.75 4.78 4.81 4.82
5,000-9,999 500,000-999,999 3.50 101.95 4.81 4.84 4.86
10,000 and over 1,000,000 and over 3.00 101.42 4.84 4.87 4.89
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 103.45 4.77% 4.80% 4.81%
1,000-2,499 100,000-249,999 4.50 103.02 4.79 4.82 4.83
2,500-4,999 250,000-499,999 4.25 102.75 4.80 4.83 4.84
5,000-9,999 500,000-999,999 3.50 101.95 4.84 4.87 4.88
10,000 and over 1,000,000 and over 3.00 101.42 4.86 4.90 4.91
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Ohio Insured Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3810(1) $ 4.9066
-------- $.4088 every month --------
Quarterly Distribution Plan........... $ .3810(1) $ .4115(2) $ 1.2346 $ 1.2346 $ 4.9386
Semi-Annual Distribution Plan......... $ .3810(1) $ .4131(3) $ 2.4788 $ 4.9576
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01363 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$1.0631 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.3810, and the
remaining $.6821 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01363 Quarterly - $0.01372
Semi-Annual - $0.01377
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
712
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.2 years.
The first bond is scheduled to mature in August, 2010, with the last bond
maturity being January, 2024.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
TENNESSEE
INSURED
TRUST 24
Estimated Current Return
4.76% to 4.91%
as of 01/12/94
Estimated Long Term Return
4.84% to 4.99%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67100U 796 Monthly Payment Option
67100U 804 Quarterly Payment Option
67100U 812 Semi-Annual Payment Option
Registered in Tennessee
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, TENNESSEE INSURED TRUST 24
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 525,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% of principal
amount.)
525,000 The Health and Educational Facilities Board of the City of 2003 at 102 AAA Aaa
Bristol, Tennessee, Hospital Revenue Refunding Bonds,
Series 1993 (Bristol Memorial Hospital), 5.125% Due
9/1/13.
250,000 City of Clarksville, Tennessee, Water, Sewer and Gas Revenue No Optional AAA Aaa
Refunding and Improvement Bonds, Series 1992, 0.00% Due Call
2/1/15. (Original issue discount bonds delivered on or
about December 8, 1992 at a price of 22.986% of principal
amount.)
150,000 The Health, Educational and Housing Facilities Board of the 2003 at 102 AAA Aaa
County of Knox (Tennessee), Hospital Revenue Refunding
Bonds, Series 1993 (Fort Sanders Alliance Obligated
Group), 5.25% Due 1/1/23.
500,000 Memphis-Shelby County Airport Authority (Tennessee), Airport 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.65% Due 9/1/15.
525,000 The Health and Educational Facilities Board of the 2003 at 102 AAA Aaa
Metropolitan Government of Nashville and Davidson County,
Tennessee, The Vanderbilt University Revenue Refunding
Bonds, 1993 Series A, 5.20% Due 7/1/18.
525,000 Putnam County, Tennessee, School Bonds and General 2003 at 102 AAA Aaa
Obligation Public Improvement Bonds, Series 1993, 5.125%
Due 4/1/12.
500,000 The Health, Educational and Housing Facilities Board of the 2003 at 102 AAA Aaa
County of Sullivan, Tennessee, Hospital Revenue Bonds,
Series 1993 (Holston Valley Health Care, Inc.), 5.75% Due
2/15/20.
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.53 4.76% 4.79% 4.81%
1,000-2,499 100,000-249,999 4.50 100.10 4.78 4.81 4.83
2,500-4,999 250,000-499,999 4.25 99.84 4.79 4.82 4.84
5,000-9,999 500,000-999,999 3.50 99.07 4.83 4.86 4.88
10,000 and over 1,000,000 and over 3.00 98.56 4.85 4.89 4.91
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.53 4.84% 4.87% 4.89%
1,000-2,499 100,000-249,999 4.50 100.10 4.86 4.89 4.91
2,500-4,999 250,000-499,999 4.25 99.84 4.87 4.90 4.92
5,000-9,999 500,000-999,999 3.50 99.07 4.91 4.94 4.96
10,000 and over 1,000,000 and over 3.00 98.56 4.94 4.97 4.99
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Tennessee Insured Trust 1994 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3015(1) $ 4.7835
-------- $.3986 every month --------
Quarterly Distribution Plan........... $ .3015(1) $ .4012(2) $ 1.2038 $ 1.2038 $ 4.8155
Semi-Annual Distribution Plan......... $ .3015(1) $ .4028(3) $ 2.4172 $ 4.8345
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01329 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$1.0366 per unit for the 78-day period. Because a substantial portion of this
interest will not yet be due from the issuers of the bonds in the Fund, the
first payment to all Unitholders of Record on 04/01/94 is $.3015, and the
remaining $.7351 of accrued interest will remain an asset of the Trust and be
distributed in subsequent periods as portfolio bonds mature, or are redeemed, or
sold and the accrued interest on these bonds is collected. After the first
Record Date daily rates of accrual are:
Monthly - $0.01329 Quarterly - $0.01338
Semi-Annual - $0.01343
712
<PAGE>
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
712
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.6 years.
The first bond is scheduled to mature in April, 2012, with the last bond
maturity being January, 2023.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
