<PAGE>
NUVEEN Tax-Exempt Unit Trusts
Nuveen
National
Trust 528
(National Traditional Trust 528)
Estimated Current Return
First
Year: 5.13% to 5.28%
Subsequent
Years: 5.14% to 5.29%
as of 02/16/94
Estimated Long Term Return
5.15% to 5.31%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds
Cusip:
67101E 734 Monthly Payment Option
67101E 742 Quarterly Payment Option
67101E 759 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 Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--NATIONAL TRADITIONAL TRUST 528
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT FEBRUARY 17, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 185,000 City of Phoenix (Arizona), Civic Improvement Corporation, 2004 at 102 AA- A1
Junior Lien Water System Revenue Bonds, Series 1994, 5.50%
Due 7/1/24. (When issued.)
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.
750,000 Anaheim Public Financing Authority, California, Revenue 2003 at 102 AAA Aaa
Bonds, Second Series 1993 (City of Anaheim Electric
Utility San Juan Unit 4 Project), 5.75% Due 10/1/22. (FGIC
Insured.)
600,000 City of Colorado Springs, Colorado, Utilities System 2002 at 100 AA Aa
Refunding Revenue Bonds, Series 1992A, 6.125% Due
11/15/20.
750,000 Orlando (Florida) Utilities Commission, Water and Electric 2002 at 100 AA- Aa
Subordinated Revenue Bonds, Series 1992A, 5.50% Due
10/1/27. (Original issue discount bonds delivered on or
about August 25, 1992 at a price of 91.50% of principal
amount.)
750,000 Chicago Metropolitan Housing Development Corporation 2004 at 100 -- Aaa
(Chicago, Illinois), Housing Development Revenue Refunding
Bonds (FHA-Insured Mortgage Loan-Section 8 Assisted
Project-Academy Square), Series 1993A, 5.60% Due 10/1/25.
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 91.469% of principal
amount.)(FGIC Insured.)
750,000 Massachusetts Bay Transportation Authority, General 2003 at 100 AAA Aaa
Transportation System Bonds, 1992 Series B Refunding,
5.50% Due 3/1/21. (Original issue discount bonds delivered
on or about January 19, 1993 at a price of 89.125% of
principal amount.)(General Obligation Bonds.) (MBIA
Insured.)
750,000 State of Michigan, State Trunk Line Fund Bonds, Series 2002 at 100 AA- A1
1992A, 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.)
35,000 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.) (MBIA Insured.)
350,000 Romulus Community Schools, County of Wayne, State of No Optional AAA Aaa
Michigan, 1993 Refunding Bonds, 0.00% Due 5/1/20. Call
(Original issue discount bonds delivered on or about May
4, 1993 at a price of 19.752% of principal
amount.)(General Obligation Bonds.) (FGIC Insured.)
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.
750,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series A
(Pennsylvania Power & Light Company Project), 5.50% Due
2/15/27. (When issued.) (MBIA Insured.)
330,000 South Carolina Public Service Authority Revenue Bonds, 1993 2003 at 102 A+ A1
Refunding Series C, 5.125% Due 1/1/32. (Original issue
discount bonds delivered on or about October 5, 1993 at a
price of 94.485% of principal amount.)
500,000 Intermountain Power Agency (Utah), Power Supply Revenue 2003 at 102 AA Aa
Refunding Bonds, 1993 Series A, 5.50% Due 7/1/20.
500,000 Industrial Development Authority of the City of Hampton, 2004 at 102 A A
Virginia, Hospital Revenue and Refunding Bonds (Sentara
Hampton General Hospital), Series 1994A, 6.50% Due
11/1/12. (When issued.)
750,000 Washington Public Power Supply System, Nuclear Project No. 3 2003 at 102 AA Aa
Refunding Revenue Bonds, Series 1993C, 5.50% Due 7/1/18.
----------
$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 4.90 % $ 102.28 (5.13%) 5.14% (5.16%) 5.17% (5.18%) 5.19%
1,000-2,499 100,000-249,999 4.50 101.85 (5.15) 5.16 (5.18) 5.19 (5.20) 5.21
2,500-4,999 250,000-499,999 4.25 101.59 (5.16) 5.17 (5.19) 5.21 (5.21) 5.22
5,000-9,999 500,000-999,999 3.50 100.80 (5.20) 5.21 (5.23) 5.25 (5.25) 5.26
10,000 and over 1,000,000 and over 3.00 100.28 (5.23) 5.24 (5.26) 5.27 (5.28) 5.29
</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 % $ 102.28 5.15% 5.18% 5.20%
1,000-2,499 100,000-249,999 4.50 101.85 5.17 5.21 5.22
2,500-4,999 250,000-499,999 4.25 101.59 5.18 5.22 5.24
5,000-9,999 500,000-999,999 3.50 100.80 5.22 5.26 5.28
10,000 and over 1,000,000 and over 3.00 100.28 5.25 5.29 5.31
</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
National Traditional 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............. $ .3040(1) $ 5.2559
-------- $.4379 every month --------
Quarterly Distribution Plan........... $ .3040(1) $ 1.3219(2) $ 1.3219 $ 1.3219 $ 5.2879
Semi-Annual Distribution Plan......... $ .3040(1) $ 2.6534(3) $ 5.3069
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01460 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$1.0804 per unit for the 74-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 $.3040, and the
remaining $.7764 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 - $0.01460 Quarterly - $0.01469
Semi-Annual - $0.01474
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 17 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>
- ------------------------
%
Arizona 1.9
California 15.8
Colorado 6.8
Florida 7.6
Illinois 15.7
Massachusetts 7.6
Michigan 7.6
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New York 7.6
Pennsylvania 7.6
South Carolina 3.1
Utah 5.1
Virginia 6.0
Washington 7.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE
The average maturity of portfolio bonds is 27.6 years. The first bond is
scheduled to mature in November, 2012, with the last bond maturity being
January, 2032.
- -------------------------------------------------
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 35
A1/A+ 11
A 13
---
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.
716
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
GEORGIA
INSURED
TRUST 34
Estimated Current Return
4.79% to 4.93%
as of 02/16/94
Estimated Long Term Return
4.91% to 5.05%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101M 314 Monthly Payment Option
67101M 322 Quarterly Payment Option
67101M 330 Semi-Annual Payment Option
Registered in Georgia
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 Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, GEORGIA INSURED TRUST 34
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT FEBRUARY 17, 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 Municipal Electric Authority of Georgia, General Power No Optional AAA Aaa
Revenue Bonds, 1992B Series, 6.25% Due 1/1/17. Call
500,000 The Dalton-Whitfield County Hospital Authority (Georgia), 2004 at 102 AAA Aaa
Refunding Revenue Anticipation Certificates, Series 1993,
5.375% Due 7/1/20.
320,000 DeKalb County, Georgia, Water and Sewerage Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993, 5.25% Due 10/1/23.
250,000 Building Authority of Fulton County (Georgia), Revenue No Optional AAA Aaa
Refunding Bonds (Judicial Center Facilities Project), Call
Series 1991, 0.00% Due 1/1/11. (Original issue discount
bonds delivered on or about November 7, 1991 at a price of
28.046% of principal amount.)(General Obligation Bonds.)
525,000 Hospital Authority of Fulton County (Georgia), Refunding 2004 at 102 AAA Aaa
Revenue Anticipation Certificates (Northside Hospital
Project), Series 1993A, 5.125% Due 10/1/16. (Original
issue discount bonds delivered on or about February 2,
1994 at a price of 94.795% of principal amount.)
400,000 The Fulton-DeKalb Hospital Authority (Georgia), Revenue 2003 at 102 AAA Aaa
Refunding Certificates, Series 1993, 5.50% Due 1/1/20.
(Original issue discount bonds delivered on or about June
15, 1993 at a price of 94.50% of principal
amount.)(General Obligation Bonds.)
480,000 City of Jesup (Georgia), Water and Sewer Revenue Refunding 2004 at 102 AAA Aaa
Bonds, Series 1994A, 5.25% Due 3/1/15. (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.)
----------
$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 % $ 101.92 4.79% 4.82% 4.84%
1,000-2,499 100,000-249,999 4.50 101.50 4.81 4.84 4.86
2,500-4,999 250,000-499,999 4.25 101.23 4.82 4.85 4.87
5,000-9,999 500,000-999,999 3.50 100.45 4.86 4.89 4.91
10,000 and over 1,000,000 and over 3.00 99.93 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 % $ 101.92 4.91% 4.94% 4.96%
1,000-2,499 100,000-249,999 4.50 101.50 4.93 4.96 4.98
2,500-4,999 250,000-499,999 4.25 101.23 4.94 4.97 4.99
5,000-9,999 500,000-999,999 3.50 100.45 4.98 5.01 5.03
10,000 and over 1,000,000 and over 3.00 99.93 5.01 5.03 5.05
</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
Georgia 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............. $ .3648(1) $ 4.8776
-------- $.4064 every month --------
Quarterly Distribution Plan........... $ .3648(1) $ 1.2274(2) $ 1.2274 $ 1.2274 $ 4.9096
Semi-Annual Distribution Plan......... $ .3648(1) $ 2.4643(3) $ 4.9286
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01355 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$1.0027 per unit for the 74-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 $.3648, and the
remaining $.6379 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 - $0.01355 Quarterly - $0.01364
Semi-Annual - $0.01369
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.
- --------------------------------------------------------------------------------
716
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.8 years.
The first bond is scheduled to mature in January, 2011, with the last bond
maturity being October, 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
MASSACHUSETTS
INSURED
TRUST 110
Estimated Current Return
First
Year: 4.87% to 5.02%
Subsequent
Years: 4.91% to 5.06%
as of 02/16/94
Estimated Long Term Return
4.95% to 5.09%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670946 672 Monthly Payment Option
670946 680 Quarterly Payment Option
670946 698 Semi-Annual Payment Option
Registered in Massachusetts
John Nuveen & Co. Incorporated
Investment Bankers
<PAGE>
<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 Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, MASSACHUSETTS INSURED TRUST 110
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT FEBRUARY 17, 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 Massachusetts Bay Transportation Authority, General 2003 at 100 AAA Aaa
Transportation System Bonds, 1992 Series B Refunding,
5.50% Due 3/1/21. (Original issue discount bonds delivered
on or about January 19, 1993 at a price of 89.125% of
principal amount.)(General Obligation Bonds.)
525,000 Massachusetts Health and Educational Facilities Authority 2003 at 102 AAA Aaa
Revenue Bonds, Boston College Issue, Series K, 5.25% Due
6/1/23. (Original issue discount bonds delivered on or
about November 16, 1993 at a price of 93.875% of principal
amount.)
525,000 Massachusetts Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Lahey Clinic Medical Center Issue, Series
B, 5.375% Due 7/1/23. (Original issue discount bonds
delivered on or about April 27, 1993 at a price of 94.511%
of principal amount.)
525,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, New England Medical Center Hospitals Issue,
Series G-1, 5.375% Due 7/1/24.
525,000 Massachusetts Municipal Wholesale Electric Company, Power 2004 at 102 AAA Aaa
Supply System Revenue Refunding Bonds, 1994 Series B,
5.00% Due 7/1/17. (When issued.)
375,000 Town of Leicester, Massachusetts, General Obligation School 2004 at 102 AAA Aaa
Bonds, 5.10% Due 1/15/13.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% 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 % $ 103.01 (4.87%) 4.91% (4.91%) 4.94% (4.92%) 4.96%
1,000-2,499 100,000-249,999 4.50 102.58 (4.89) 4.93 (4.93) 4.96 (4.94) 4.98
2,500-4,999 250,000-499,999 4.25 102.31 (4.91) 4.95 (4.94) 4.98 (4.96) 5.00
5,000-9,999 500,000-999,999 3.50 101.51 (4.95) 4.99 (4.98) 5.02 (5.00) 5.04
10,000 and over 1,000,000 and over 3.00 100.99 (4.97) 5.01 (5.00) 5.04 (5.02) 5.06
</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 % $ 103.01 4.95% 4.98% 4.99%
1,000-2,499 100,000-249,999 4.50 102.58 4.97 5.00 5.01
2,500-4,999 250,000-499,999 4.25 102.31 4.98 5.02 5.02
5,000-9,999 500,000-999,999 3.50 101.51 5.02 5.06 5.07
10,000 and over 1,000,000 and over 3.00 100.99 5.04 5.08 5.09
</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
Massachusetts 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............. $ .3509(1) $ 5.0606
-------- $.4217 every month --------
Quarterly Distribution Plan........... $ .3509(1) $ 1.2731(2) $ 1.2731 $ 1.2731 $ 5.0926
Semi-Annual Distribution Plan......... $ .3509(1) $ 2.5558(3) $ 5.1116
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01406 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$1.0404 per unit for the 74-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 $.3509, and the
remaining $.6895 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 - $0.01406 Quarterly - $0.01415
Semi-Annual - $0.01420
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.
- --------------------------------------------------------------------------------
716
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.9 years.
The first bond is scheduled to mature in January, 2013, with the last bond
maturity being July, 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
PENNSYLVANIA
INSURED
TRUST 176
Estimated Current Return
First
Year: 4.96% to 5.11%
Subsequent
Years: 4.97% to 5.12%
as of 02/16/94
Estimated Long Term Return
5.03% to 5.18%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H9 280 Monthly Payment Option
6706H9 298 Quarterly Payment Option
6706H9 306 Semi-Annual Payment Option
Registered in Pennsylvania & Florida
John Nuveen & Co. Incorporated
Investment Bankers
<PAGE>
<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 Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, PENNSYLVANIA INSURED TRUST 176
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT FEBRUARY 17, 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 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Refunding Bonds (City of Philadelphia
Funding Program) Series of 1993A, 5.00% Due 6/15/22.
(Original issue discount bonds delivered on or about
September 14, 1993 at a price of 92.134% of principal
amount.)
500,000 Dauphin County General Authority, Hospital Revenue Bonds, 2003 at 102 AAA Aaa
HAPSCO Group, Inc. Tax-Exempt Loan Program (The Western
Pennsylvania Hospital Project), Fixed Rate Bonds, 1993
Series A-1, 5.50% Due 7/1/23.
500,000 Delaware County Authority (Commonwealth of Pennsylvania), 2003 at 102 AAA Aaa
University Revenue Bonds, Series of 1993 (Villanova
University), 5.50% Due 8/1/23.
500,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series A
(Pennsylvania Power & Light Company Project), 5.50% Due
2/15/27. (When issued.)
125,000 City of Philadelphia, Pennsylvania, Gas Works Revenue Bonds, No Optional AAA Aaa
Twelfth Series B, 7.00% Due 5/15/20. (Escrow Secured.) Call
250,000 The Pittsburgh Water and Sewer Authority (Pennsylvania), 2003 at 102 AAA Aaa
Water and Sewer System Revenue Refunding Bonds, Series A
of 1993, 4.75% Due 9/1/16. (Original issue discount bonds
delivered on or about November 16, 1993 at a price of
92.144% of principal amount.)
500,000 Washington County Hospital Authority (Commonwealth of 2003 at 102 AAA Aaa
Pennsylvania), Hospital Revenue Bonds, Series of 1993 (The
Washington Hospital Project), 5.625% Due 7/1/23.
110,000 York City Sewer Authority, City of York, Pennsylvania, No Optional AAA Aaa
Guaranteed Sewer Revenue Bonds, Series of 1990, 0.00% Due Call
12/1/15. (Original issue discount bonds delivered on or
about December 20, 1990 at a price of 17.542% of principal
amount.)(General Obligation Bonds.)
490,000 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 % $ 101.84 (4.96%) 4.97% (4.99%) 5.00% (5.01%) 5.02%
1,000-2,499 100,000-249,999 4.50 101.41 (4.98) 4.99 (5.02) 5.02 (5.03) 5.04
2,500-4,999 250,000-499,999 4.25 101.15 (5.00) 5.00 (5.03) 5.03 (5.05) 5.05
5,000-9,999 500,000-999,999 3.50 100.36 (5.04) 5.04 (5.07) 5.07 (5.09) 5.09
10,000 and over 1,000,000 and over 3.00 99.85 (5.06) 5.07 (5.09) 5.10 (5.11) 5.12
</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 % $ 101.84 5.03% 5.06% 5.08%
1,000-2,499 100,000-249,999 4.50 101.41 5.05 5.08 5.10
2,500-4,999 250,000-499,999 4.25 101.15 5.06 5.09 5.11
5,000-9,999 500,000-999,999 3.50 100.36 5.11 5.13 5.15
10,000 and over 1,000,000 and over 3.00 99.85 5.13 5.16 5.18
</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
Pennsylvania 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............. $ .3376(1) $ 5.0599
-------- $.4216 every month --------
Quarterly Distribution Plan........... $ .3376(1) $ 1.2729(2) $ 1.2729 $ 1.2729 $ 5.0919
Semi-Annual Distribution Plan......... $ .3376(1) $ 2.5554(3) $ 5.1109
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01406 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$1.0404 per unit for the 74-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 $.3376, and the
remaining $.7028 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 - $0.01406 Quarterly - $0.01414
Semi-Annual - $0.01420
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.
- --------------------------------------------------------------------------------
716
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.2 years.
The first bond is scheduled to mature in December, 2015, with the last bond
maturity being February, 2027.
- -------------------------------------------------
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.
