<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CONNECTICUT
TRUST 262
(CONNECTICUT TRADITIONAL TRUST 262)
Estimated Current Return
4.71% to 4.85%
as of 01/26/94
Estimated Long Term Return
4.75% to 4.89%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67094E 345 Monthly Payment Option
67094E 352 Quarterly Payment Option
67094E 360 Semi-Annual Payment Option
Registered in Connecticut
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--CONNECTICUT TRADITIONAL TRUST 262
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 27, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 250,000 State of Connecticut, General Obligation Capital No Optional AA- Aa
Appreciation Bonds (College Savings Plan, 1993 Series B), Call
0.00% Due 12/1/11. (Original issue discount bonds
delivered on or about November 16, 1993 at a price of
39.259% of principal amount.)
500,000 State of Connecticut Health and Educational Facilities 2003 at 102 AAA Aaa
Authority Revenue Bonds, Lawrence and Memorial Hospital
Issue, Series D, 5.00% Due 7/1/22. (Original issue
discount bonds delivered on or about December 29, 1993 at
a price of 94.491% of principal amount.)(MBIA Insured.)
525,000 State of Connecticut Health and Educational Facilities 2003 at 102 AAA Aaa
Authority, Revenue Bonds, Saint Francis Hospital and
Medical Center Issue, Series C, 5.00% Due 7/1/23. (FGIC
Insured.)
500,000 State of Connecticut, Special Tax Obligation Bonds, No Optional AA- A1
Transportation Infrastructure Purposes, 1992 Series B, Call
6.125% Due 9/1/12.
115,000 State of Connecticut, Clean Water Fund Revenue Bonds, 1992 2002 at 102 AA Aa
Series, 6.125% Due 2/1/12.
400,000 Town of Cheshire, Connecticut, General Obligation Bonds, 2003 at 102 -- Aa
Issue of 1993, 5.25% Due 8/15/12.
525,000 South Central Connecticut Regional Water Authority, Water 2003 at 102 AAA Aaa
System Revenue Bonds, Eleventh Series, 5.75% Due 8/1/12.
(FGIC Insured.)
220,000 Town of Westbrook, Connecticut, General Obligation Bonds, No Optional AAA Aaa
5.00% Due 6/15/13. (FGIC Insured.) Call
465,000 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 % $ 102.94 4.71% 4.74% 4.75%
1,000-2,499 100,000-249,999 4.50 102.51 4.73 4.76 4.77
2,500-4,999 250,000-499,999 4.25 102.25 4.74 4.77 4.79
5,000-9,999 500,000-999,999 3.50 101.45 4.77 4.81 4.82
10,000 and over 1,000,000 and over 3.00 100.93 4.80 4.83 4.85
</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 % $ 102.94 4.75% 4.77% 4.79%
1,000-2,499 100,000-249,999 4.50 102.51 4.77 4.79 4.81
2,500-4,999 250,000-499,999 4.25 102.25 4.78 4.80 4.82
5,000-9,999 500,000-999,999 3.50 101.45 4.82 4.84 4.86
10,000 and over 1,000,000 and over 3.00 100.93 4.84 4.87 4.89
</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
Connecticut 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............. $ .2088(1) $ 4.8437
-------- $.4036 every month --------
Quarterly Distribution Plan........... $ .2088(1) $ .4063(2) $ 1.2189 $ 1.2189 $ 4.8757
Semi-Annual Distribution Plan......... $ .2088(1) $ .4078(3) $ 2.4473 $ 4.8947
- ----------------------------------------------------------------------------------------------------------------
<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 $.08 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 $.01345 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$0.8608 per unit for the 64-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 $.2088, and the
remaining $.6520 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 - $0.01345 Quarterly - $0.01354
Semi-Annual - $0.01360
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.
- --------------------------------------------------------------------------------
714
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.4 years.
The first bond is scheduled to mature in December, 2011, with the last bond
maturity being July, 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 64%
AA 36
---
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
CALIFORNIA
INSURED
TRUST 220
Estimated Current Return
4.88% to 5.02%
as of 01/26/94
Estimated Long Term Return
4.94% to 5.08%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101G 853 Monthly Payment Option
67101G 861 Quarterly Payment Option
67101G 879 Semi-Annual Payment Option
Registered in California
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, CALIFORNIA INSURED TRUST 220
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 27, 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 California Health Facilities Financing Authority, Insured 2004 at 102 AAA Aaa
Health Facility Refunding Revenue Bonds (Catholic
Healthcare West), 1994 Series B, 5.00% Due 7/1/21.
(Original issue discount bonds delivered on or about
January 27, 1994 at a price of 93.359% of principal
amount.)
525,000 State Public Works Board of the State of California, Lease 2003 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1993 Series B
(California State Prison-Fresno County, Coalinga), 5.375%
Due 12/1/19. (Original issue discount bonds delivered on
or about April 14, 1993 at a price of 94.522% of principal
amount.)
525,000 California Statewide Communities Development Authority, 2004 at 100 AAA Aaa
Insured Revenue Certificates of Participation (Childrens
Hospital of Los Angeles), Series 1993, 4.75% Due 6/1/21.
(Original issue discount bonds delivered on or about
December 23, 1993 at a price of 90.749% of principal
amount.)
200,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Certificates of Participation, Sutter Health Obligated
Group, 5.50% Due 8/15/23.
525,000 The Regents of the University of California, University of 2003 at 102 AAA Aaa
California Housing System Revenue Bonds, Series A, 5.00%
Due 11/1/13. (Original issue discount bonds delivered on
or about June 29, 1993 at a price of 92.192% of principal
amount.)
525,000 Los Angeles Convention and Exhibition Center Authority 2003 at 102 AAA Aaa
(California), Lease Revenue Bonds, 1993 Refunding Series
A, 5.125% Due 8/15/21. (Original issue discount bonds
delivered on or about September 14, 1993 at a price of
94.949% of principal amount.)
525,000 Department of Water and Power of The City of Los Angeles, 2003 at 102 AAA Aaa
California, Electric Plant Refunding Revenue Bonds, Second
Issue of 1993, 5.40% Due 11/15/31.
150,000 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 % $ 101.77 4.88% 4.91% 4.93%
1,000-2,499 100,000-249,999 4.50 101.34 4.90 4.93 4.95
2,500-4,999 250,000-499,999 4.25 101.08 4.91 4.94 4.96
5,000-9,999 500,000-999,999 3.50 100.29 4.95 4.98 5.00
10,000 and over 1,000,000 and over 3.00 99.77 4.97 5.01 5.02
</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 % $ 101.77 4.94% 4.96% 4.98%
1,000-2,499 100,000-249,999 4.50 101.34 4.96 4.99 5.00
2,500-4,999 250,000-499,999 4.25 101.08 4.97 5.00 5.02
5,000-9,999 500,000-999,999 3.50 100.29 5.01 5.04 5.06
10,000 and over 1,000,000 and over 3.00 99.77 5.03 5.06 5.08
</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
California 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............. $ .2068(1) $ 4.9617
-------- $.4134 every month --------
Quarterly Distribution Plan........... $ .2068(1) $ .4161(2) $ 1.2484 $ 1.2484 $ 4.9937
Semi-Annual Distribution Plan......... $ .2068(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 $.08 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
$0.8819 per unit for the 64-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 $.2068, and the
remaining $.6751 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.
- --------------------------------------------------------------------------------
714
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.6 years.
The first bond is scheduled to mature in November, 2013, with the last bond
maturity being November, 2031.
- -------------------------------------------------
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
COLORADO
INSURED
TRUST 52
Estimated Current Return
First
Year: 4.69% to 4.83%
Subsequent
Years: 4.71% to 4.85%
as of 01/26/94
Estimated Long Term Return
4.64% to 4.79%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67097C 858 Monthly Payment Option
67097C 866 Quarterly Payment Option
67097C 874 Semi-Annual Payment Option
Registered in Colorado
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, COLORADO INSURED TRUST 52
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 27, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 400,000 Colorado Health Facilities Authority, Hospital Revenue Bonds 2003 at 102 AAA Aaa
(North Colorado Medical Center), Series 1993, 5.95% Due
5/15/12.
125,000 Adams County, Colorado, Pollution Control Refunding Revenue 2003 at 101 AAA Aaa
Bonds, 1993 Series A (Public Service Company of Colorado
Project), 5.875% Due 4/1/14.
195,000 St. Vrain Valley School District No. RE-1J, Boulder, Larimer 2002 at 101 AAA Aaa
and Weld Counties, Colorado, General Obligation Refunding
Bonds, Series 1992A, 6.00% Due 12/15/10.
525,000 City of Colorado Springs, Colorado, Utilities System 2004 at 100 AAA Aaa
Improvement and Refunding Revenue Bonds, Series 1994A,
5.125% Due 11/15/23. (When issued.)
525,000 Mesa County, Colorado, Revenue Bonds, Series 1994 (Sisters 2003 at 102 AAA Aaa
of Charity of Leavenworth Health Services Corporation),
5.00% Due 12/1/23. (Original issue discount bonds will be
delivered on or about February 2, 1994 at a price of
94.00% of principal amount.)(When issued.)
500,000 Metro Wastewater Reclamation District, Colorado, Sewer 2003 at 100 AAA Aaa
Refunding Bonds, Series 1993B, 4.75% Due 4/1/12. (Original
issue discount bonds delivered on or about December 29,
1993 at a price of 94.39% of principal amount.)
390,000 Morgan County, Colorado, Pollution Control Refunding Revenue 2003 at 101 AAA Aaa
Bonds, 1993 Series A (Public Service Company of Colorado
Project), 5.50% Due 6/1/12.
210,000 The Poudre Valley Hospital District, Larimer County, 2003 at 101 AAA Aaa
Colorado, Hospital Revenue Refunding Bonds, Series 1993,
5.20% Due 12/1/11.
150,000 City of Thornton, Colorado, General Obligation Water No Optional AAA Aaa
Refunding Capital Appreciation Bonds, Series 1991, 0.00% Call
Due 12/1/15. (Original issue discount bonds delivered on
or about March 14, 1991 at a price of 18.927% of principal
amount.)
480,000 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 % $ 103.85 (4.69%) 4.71% (4.72%) 4.74% (4.74%) 4.76%
1,000-2,499 100,000-249,999 4.50 103.41 (4.71) 4.73 (4.74) 4.76 (4.76) 4.78
2,500-4,999 250,000-499,999 4.25 103.14 (4.72) 4.74 (4.75) 4.77 (4.77) 4.79
5,000-9,999 500,000-999,999 3.50 102.34 (4.76) 4.78 (4.79) 4.81 (4.81) 4.83
10,000 and over 1,000,000 and over 3.00 101.81 (4.78) 4.80 (4.81) 4.84 (4.83) 4.85
</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 % $ 103.85 4.64% 4.68% 4.70%
1,000-2,499 100,000-249,999 4.50 103.41 4.66 4.70 4.72
2,500-4,999 250,000-499,999 4.25 103.14 4.67 4.71 4.73
5,000-9,999 500,000-999,999 3.50 102.34 4.71 4.75 4.77
10,000 and over 1,000,000 and over 3.00 101.81 4.73 4.77 4.79
</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
Colorado 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............. $ .2097(1) $ 4.8912
-------- $.4076 every month --------
Quarterly Distribution Plan........... $ .2097(1) $ .4102(2) $ 1.2308 $ 1.2308 $ 4.9232
Semi-Annual Distribution Plan......... $ .2097(1) $ .4118(3) $ 2.4711 $ 4.9422
- ----------------------------------------------------------------------------------------------------------------
<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 $.08 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 $.01359 per unit per day.
Consequently, on the first Record Date (04/01/94), accrued interest will total
$0.8697 per unit for the 64-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 $.2097, and the
remaining $.6600 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 - $0.01359 Quarterly - $0.01368
Semi-Annual - $0.01373
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.
- --------------------------------------------------------------------------------
714
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.7 years.
The first bond is scheduled to mature in December, 2010, with the last bond
maturity being December, 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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 185
Estimated Current Return
First
Year: 4.80% to 4.95%
Subsequent
Years: 4.82% to 4.96%
as of 01/26/94
Estimated Long Term Return
4.89% to 5.03%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 135 Monthly Payment Option
6706H3 143 Quarterly Payment Option
6706H3 150 Semi-Annual Payment Option
Registered in Florida
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, FLORIDA INSURED TRUST 185
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 27, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 305,000 Florida Municipal Power Agency, All-Requirements Power 2003 at 101 AAA Aaa
Supply Project Revenue Bonds, Series 1993, 5.10% Due
10/1/25.
525,000 The City of Altamonte Springs, Florida, Health Facilities 2003 at 102 AAA Aaa
Authority Hospital Revenue Bonds, Series 1993-B (Adventist
Health System/Sunbelt, Inc.), 5.375% Due 11/15/23.
100,000 Dade County Health Facilities Authority (Florida), Hospital 2003 at 101 AAA Aaa
Revenue Refunding Bonds, Series 1993A (Baptist Hospital of
Miami Project), 5.25% Due 5/15/21. (Original issue
discount bonds delivered on or about March 17, 1993 at a
price of 94.118% of principal amount.)
525,000 Lee County, Florida, Capital and Transportation Facilities 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.60% Due 10/1/21.
100,000 Manatee County, Florida, Public Utilities Revenue Refunding No Optional AAA Aaa
and Improvement Bonds, Series 1991 C, 0.00% Due 10/1/12. Call
(Original issue discount bonds delivered on or about July
2, 1991 at a price of 22.021% of principal amount.)
500,000 Orlando Utilities Commission (Florida), Water and Electric 2004 at 101 AAA Aaa
Subordinated Revenue Refunding Bonds, Series 1994A, 5.00%
Due 10/1/20. (When issued.)
400,000 City of Palm Bay, Florida, Utility System Refunding Revenue 2003 at 102 AAA Aaa
Bonds, Series 1994 (Palm Bay Utility Corporation Project),
5.00% Due 10/1/22. (When issued.)
525,000 City of Tampa, Florida, Allegany Health System Revenue 2003 at 102 AAA Aaa
Bonds, St. Joseph's Hospital, Inc. Issue, Series 1993,
5.125% Due 12/1/23. (Original issue discount bonds
delivered on or about January 4, 1994 at a price of
94.522% of principal amount.)
520,000 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 % $ 101.75 (4.80%) 4.82% (4.84%) 4.85% (4.85%) 4.87%
1,000-2,499 100,000-249,999 4.50 101.32 (4.83) 4.84 (4.86) 4.87 (4.88) 4.89
2,500-4,999 250,000-499,999 4.25 101.06 (4.84) 4.85 (4.87) 4.88 (4.89) 4.90
5,000-9,999 500,000-999,999 3.50 100.27 (4.88) 4.89 (4.91) 4.92 (4.93) 4.94
10,000 and over 1,000,000 and over 3.00 99.75 (4.90) 4.91 (4.93) 4.94 (4.95) 4.96
</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 % $ 101.75 4.89% 4.92% 4.94%
1,000-2,499 100,000-249,999 4.50 101.32 4.91 4.94 4.96
2,500-4,999 250,000-499,999 4.25 101.06 4.92 4.95 4.97
5,000-9,999 500,000-999,999 3.50 100.27 4.96 4.99 5.01
10,000 and over 1,000,000 and over 3.00 99.75 4.99 5.02 5.03
</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
Florida Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4083(1) $ 4.9000
-------- $.4083 every month --------
Quarterly Distribution Plan........... $ .4083(1) $ 1.2330(2) $ 1.2330 $ 1.2330 $ 4.9320
Semi-Annual Distribution Plan......... $ .4083(1) $ 2.4755(3) $ 4.9510
- --------------------------------------------------------------------------------------------------------------------
<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) Regular 3-month distribution.
(3) Regular 6-month distribution.
</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 $.08 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 $.01354 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$1.2729 per unit for the 94-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 05/01/94 is $.4083, and the
remaining $.8646 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 - $0.01361 Quarterly - $0.01370
Semi-Annual - $0.01375
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.
- --------------------------------------------------------------------------------
714
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.9 years.
The first bond is scheduled to mature in October, 2012, with the last bond
maturity being October, 2025.
- -------------------------------------------------
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.
