<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CONNECTICUT
TRUST 263
(CONNECTICUT TRADITIONAL TRUST 263)
Estimated Current Return
First
Year: 5.25% to 5.41%
Subsequent
Years: 5.26% to 5.42%
as of 03/16/94
Estimated Long Term Return
5.34% to 5.50%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67094E 378 Monthly Payment Option
67094E 386 Quarterly Payment Option
67094E 394 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 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--CONNECTICUT TRADITIONAL TRUST 263
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 State of Connecticut, General Obligation Bonds (1994 Series 2004 at 101 AA- Aa
A), 5.65% Due 3/15/12. (When issued.) 1/2
525,000 State of Connecticut, Special Tax Obligation Bonds, 2004 at 101 AAA Aaa
Transportation Infrastructure Purposes, 1994 Series A, 1/2
5.65% Due 4/1/13. (When issued.) (FGIC Insured.)
525,000 Connecticut Development Authority, Water Facilities Revenue 2003 at 100 AAA Aaa
Refunding Bonds (The Connecticut Water Company
Project-1993B Series), 5.30% Due 9/1/28. (MBIA Insured.)
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.)
500,000 State of Connecticut Health and Educational Facilities 2003 at 101 AAA Aaa
Authority Revenue Bonds, Manchester Memorial Hospital
Issue, Series D, 5.75% Due 7/1/22. (MBIA Insured.)
500,000 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.)
450,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2002 at 101 AAA Aaa
1993 (General Obligation Bonds.), 5.875% Due 7/1/18. 1/2
(AMBAC 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> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.41 (5.25%) 5.26% (5.28%) 5.29% (5.30%) 5.31%
1,000-2,499 100,000-249,999 4.50 99.99 (5.27) 5.28 (5.30) 5.32 (5.32) 5.34
2,500-4,999 250,000-499,999 4.25 99.73 (5.29) 5.30 (5.32) 5.33 (5.34) 5.35
5,000-9,999 500,000-999,999 3.50 98.95 (5.33) 5.34 (5.36) 5.37 (5.38) 5.39
10,000 and over 1,000,000 and over 3.00 98.44 (5.35) 5.37 (5.39) 5.40 (5.41) 5.42
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.41 5.34% 5.37% 5.39%
1,000-2,499 100,000-249,999 4.50 99.99 5.36 5.40 5.42
2,500-4,999 250,000-499,999 4.25 99.73 5.37 5.41 5.43
5,000-9,999 500,000-999,999 3.50 98.95 5.41 5.45 5.47
10,000 and over 1,000,000 and over 3.00 98.44 5.44 5.48 5.50
</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
Connecticut Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3872(1) $ 5.2839
-------- $.4403 every month --------
Quarterly Distribution Plan........... $ .3872(1) $ .8859(2) $ 1.3289 $ 1.3289 $ 1.3289 $ 5.3159
Semi-Annual Distribution Plan......... $ .3872(1) $ 2.2228(3) $ 2.6674 $ 5.3349
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01468 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.0863 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 06/01/94 is $.3872, and the
remaining $.6991 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 - $0.01468 Quarterly - $0.01477
Semi-Annual - $0.01482
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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.0 years.
The first bond is scheduled to mature in March, 2012, with the last bond
maturity being September, 2028.
- -------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------
<TABLE>
<CAPTION>
Rating Percent of Portfolio
Category Par Value
<S> <C> <C>
- -------------------------------------------------------------
AAA 86%
AA 14
---
100%
</TABLE>
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
INTERMEDIATE
INSURED
TRUST 73
Estimated Current Return
First
Year: 4.75% to 4.85%
Subsequent
Years: 4.77% to 4.88%
as of 03/16/94
Estimated Long Term Return
4.91% to 5.02%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67093H 711 Monthly Payment Option
67093H 729 Quarterly Payment Option
67093H 737 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--INSURED, INTERMEDIATE INSURED TRUST 73
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 Matanuska-Susitna Borough, Alaska, General Obligation School No Optional AAA Aaa
Construction Bonds, 1994 Series A, Call
500M-5.20% Due 5/1/03,
500M-5.30% Due 5/1/04. (When issued.)
500,000 State Board of Directors for Community Colleges of Arizona, No Optional AAA Aaa
Maricopa County Community College District, Revenue Call
Refunding Bonds, Series 1993, 4.95% Due 7/15/03.
1,000,000 County of Alameda, California, 1993 Refunding Certificates No Optional AAA Aaa
of Participation (Santa Rita Jail Project), 5.25% Due Call
12/1/04.
1,000,000 State of California, Various Purpose General Obligation No Optional AAA Aaa
Bonds, 5.125% Due 3/1/04. (When issued.) Call
500,000 Board of Trustees of the State Colleges in Colorado, Western No Optional AAA Aaa
State College of Colorado Project, Series C 1994, 5.10% Call
Due 5/15/04. (When issued.)
125,000 School District No. 1 in the City and County of Denver, and No Optional AAA Aaa
State of Colorado, General Obligation Refunding Bonds, Call
Series 1994A, 0.00% Due 12/1/04. (Original issue discount
bonds delivered on or about February 22, 1994 at a price
of 58.735% of principal amount.)
1,000,000 District of Columbia, Hospital Revenue Refunding Bonds No Optional AAA Aaa
(Medlantic Healthcare Group, Inc. Issue), Series 1993A, Call
5.40% Due 8/15/04.
1,000,000 District of Columbia (Washington, D.C.), General Obligation No Optional AAA Aaa
Refunding Bonds, Series 1993B, 5.10% Due 6/1/03. Call
385,000 Solid Waste Agency of Northern Cook County (Illinois), AAA Aaa
Contract Revenue Bonds, Series 1994,
210M-4.90% Due 5/1/03, No Optional
Call
175M-5.00% Due 5/1/04. (When issued.) 2003 at 100
100,000 Massachusetts Bay Transportation Authority, General No Optional AAA Aaa
Transportation System Bonds, 1993 Series A Refunding, Call
5.00% Due 3/1/03. (General Obligation Bonds.)
250,000 Boston Water and Sewer Commission (Massachusetts), General 2003 at 102 AAA Aaa
Revenue Bonds, 1993 Series A (Senior Series), 5.00% Due
11/1/04.
140,000 Dormitory Authority of the State of New York, State No Optional AAA Aaa
University Educational Facilities Revenue Bonds, Series Call
1994A, 0.00% Due 5/15/03. (Original issue discount bonds
delivered on or about March 3, 1994 at a price of 64.927%
of principal amount.)
1,000,000 Rhode Island Public Buildings Authority, State Public 2003 at 102 AAA Aaa
Projects Revenue Bonds, 1993 Series A, 5.00% Due 2/1/04.
1,000,000 Washington Public Power Supply System, Nuclear Project No. 3 No Optional AAA Aaa
Refunding Revenue Bonds, Series 1993C, 4.90% Due 7/1/04. Call
1,000,000 Wisconsin Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993A (Lutheran Hospital-La Crosse,
Inc.), 5.60% Due 2/15/04.
----------
$10,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 3.90 % $ 102.17 (4.75%) 4.77% (4.78%) 4.80% (4.80%) 4.82%
1,000-2,499 100,000-249,999 3.50 101.75 (4.77) 4.79 (4.80) 4.82 (4.82) 4.84
2,500-4,999 250,000-499,999 3.25 101.49 (4.78) 4.80 (4.81) 4.83 (4.83) 4.85
5,000-9,999 500,000-999,999 3.00 101.23 (4.79) 4.81 (4.82) 4.85 (4.84) 4.87
10,000 and over 1,000,000 and over 2.75 100.97 (4.80) 4.83 (4.83) 4.86 (4.85) 4.88
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 3.90 % $ 102.17 4.91% 4.94% 4.96%
1,000-2,499 100,000-249,999 3.50 101.75 4.93 4.96 4.98
2,500-4,999 250,000-499,999 3.25 101.49 4.94 4.97 4.99
5,000-9,999 500,000-999,999 3.00 101.23 4.96 4.99 5.01
10,000 and over 1,000,000 and over 2.75 100.97 4.97 5.00 5.02
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Intermediate Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2774(1) $ 4.8739
-------- $.4061 every month --------
Quarterly Distribution Plan........... $ .2774(1) $ .8176(2) $ 1.2264 $ 1.2264 $ 1.2264 $ 4.9059
Semi-Annual Distribution Plan......... $ .2774(1) $ 2.0520(3) $ 2.4624 $ 4.9249
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-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 $.09 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 (06/01/94), accrued interest will total
$1.0019 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 06/01/94 is $.2774, and the
remaining $.7245 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 - $0.01354 Quarterly - $0.01363
Semi-Annual - $0.01368
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 15 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 10 states and the District of Columbia.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Alaska 10.4
Arizona 4.9
California 20.7
Colorado 5.1
Washington D.C. 20.9
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Illinois 3.8
Massachusetts 3.5
Rhode Island 9.9
Washington 9.7
Wisconsin 11.1
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 10.0 years.
The first bond is scheduled to mature in March, 2003, with the last bond
maturity being December, 2004.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
720
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 222
Estimated Current Return
5.50% to 5.66%
as of 03/16/94
Estimated Long Term Return
5.50% to 5.66%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 139 Monthly Payment Option
67064U 147 Quarterly Payment Option
67064U 154 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 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, CALIFORNIA INSURED TRUST 222
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$ 530,000 California Health Facilities Financing Authority, Kaiser 2002 at 101 AAA Aaa
Permanente, Medical Care Program, Semiannual Tender
Revenue Bonds, 1985 Tender Bonds, 5.55% Due 8/15/25.
525,000 The Regents of the University of California, University of 2003 at 102 AAA Aaa
California Housing System Revenue Bonds, Series A, 5.50%
Due 11/1/18.
525,000 The City of Los Angeles, California, Wastewater System 2003 at 102 AAA Aaa
Revenue Bonds, Refunding Series 1993-A, 5.70% Due 6/1/20.
530,000 Department of Water and Power of the City of Los Angeles, 2003 at 102 AAA Aaa
California, Electric Plant Refunding Revenue Bonds, Issue
of 1993, 5.875% Due 9/1/30.
530,000 San Bernardino County, California, Certificates of 2002 at 102 AAA Aaa
Participation (1992 West Valley Detention Center
Refinancing Project), 6.00% Due 11/1/18. (Original issue
discount bonds delivered on or about May 14, 1992 at a
price of 93.719% of principal amount.)
360,000 San Diego Regional Building Authority (California), 2003 at 102 AAA Aaa
Refunding Lease Revenue Bonds, Series 1993A (San Miguel
Consolidated Fire Protection District Project), 5.65% Due
1/1/20.
500,000 Walnut Public Financing Authority (Los Angeles County, 2002 at 102 AAA Aaa
California), 1992 Tax Allocation Revenue Bonds (Walnut
Improvement Project), 6.50% Due 9/1/22.
----------
$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 % $ 102.79 5.50% 5.53% 5.55%
1,000-2,499 100,000-249,999 4.50 102.36 5.52 5.55 5.57
2,500-4,999 250,000-499,999 4.25 102.09 5.54 5.57 5.59
5,000-9,999 500,000-999,999 3.50 101.30 5.58 5.61 5.63
10,000 and over 1,000,000 and over 3.00 100.77 5.61 5.64 5.66
</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 % $ 102.79 5.50% 5.54% 5.54%
1,000-2,499 100,000-249,999 4.50 102.36 5.52 5.56 5.57
2,500-4,999 250,000-499,999 4.25 102.09 5.53 5.57 5.58
5,000-9,999 500,000-999,999 3.50 101.30 5.58 5.62 5.63
10,000 and over 1,000,000 and over 3.00 100.77 5.61 5.65 5.66
</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 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3231(1) $ 5.6533
-------- $.4711 every month --------
Quarterly Distribution Plan........... $ .3231(1) $ .9475(2) $ 1.4213 $ 1.4213 $ 1.4213 $ 5.6853
Semi-Annual Distribution Plan......... $ .3231(1) $ 2.3767(3) $ 2.8521 $ 5.7043
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01570 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.1618 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 06/01/94 is $.3231, and the
remaining $.8387 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 - $0.01570 Quarterly - $0.01579
Semi-Annual - $0.01585
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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.3 years.
The first bond is scheduled to mature in November, 2018, with the last bond
maturity being September, 2030.
- -------------------------------------------------
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 187
Estimated Current Return
First
Year: 5.31% to 5.47%
Subsequent
Years: 5.33% to 5.49%
as of 03/16/94
Estimated Long Term Return
5.39% to 5.55%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 192 Monthly Payment Option
6706H3 200 Quarterly Payment Option
6706H3 218 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 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, FLORIDA INSURED TRUST 187
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$ 415,000 State of Florida, State Board of Education, Public Education 2003 at 101 AAA Aaa
Capital Outlay Bonds, 1993 Series C, 5.50% Due 6/1/23.
(General Obligation Bonds.)
525,000 Florida Municipal Power Agency, St, Lucie Project Refunding 2002 at 102 AAA Aaa
Revenue Bonds, Series 1992, 5.25% Due 10/1/21. (Original
issue discount bonds delivered on or about September 1,
1992 at a price of 91.655% of principal amount.)
525,000 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 Hillsborough County Aviation Authority, Florida, Tampa 2003 at 102 AAA Aaa
International Airport Revenue Refunding, 1993 Series B,
5.60% Due 10/1/19.
325,000 Hillsborough County Industrial Development Authority 2004 at 102 AAA Aaa
(Florida), Industrial Development Revenue Bonds, Series
1994 (University Community Hospital), 5.75% Due 8/15/14.
(When issued.)
160,000 Orlando Utilities Commission (Florida), Water and Electric 2002 at 101 AAA Aaa
Revenue Bonds, Series 1993, 5.125% Due 10/1/19.
500,000 Pinellas County (Florida), Health Facilities Authority 2003 at 102 AAA Aaa
Hospital Revenue Bonds, Series 1993 (Morton Plant Health
System Project), 5.625% Due 11/15/23.
525,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.00% Due 1/2
7/1/14.
----------
$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 % $ 100.64 (5.31%) 5.33% (5.35%) 5.36% (5.36%) 5.38%
1,000-2,499 100,000-249,999 4.50 100.22 (5.34) 5.35 (5.37) 5.38 (5.39) 5.40
2,500-4,999 250,000-499,999 4.25 99.96 (5.35) 5.37 (5.38) 5.40 (5.40) 5.42
5,000-9,999 500,000-999,999 3.50 99.18 (5.39) 5.41 (5.42) 5.44 (5.44) 5.46
10,000 and over 1,000,000 and over 3.00 98.67 (5.42) 5.44 (5.45) 5.47 (5.47) 5.49
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.64 5.39% 5.42% 5.44%
1,000-2,499 100,000-249,999 4.50 100.22 5.42 5.44 5.46
2,500-4,999 250,000-499,999 4.25 99.96 5.43 5.46 5.47
5,000-9,999 500,000-999,999 3.50 99.18 5.47 5.50 5.52
10,000 and over 1,000,000 and over 3.00 98.67 5.50 5.53 5.55
</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> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3016(1) $ 5.3638
-------- $.4469 every month --------
Quarterly Distribution Plan........... $ .3016(1) $ .8993(2) $ 1.3489 $ 1.3489 $ 1.3489 $ 5.3958
Semi-Annual Distribution Plan......... $ .3016(1) $ 2.2561(3) $ 2.7074 $ 5.4148
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01490 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.1026 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 06/01/94 is $.3016, and the
remaining $.8010 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 - $0.01490 Quarterly - $0.01499
Semi-Annual - $0.01504
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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.8 years.
The first bond is scheduled to mature in July, 2014, with the last bond maturity
being November, 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 111
Estimated Current Return
5.38% to 5.54%
as of 03/16/94
Estimated Long Term Return
5.41% to 5.57%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670946 706 Monthly Payment Option
670946 714 Quarterly Payment Option
670946 722 Semi-Annual Payment Option
Registered in Massachusetts
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, MASSACHUSETTS INSURED TRUST 111
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Massachusetts Bay Transportation Authority, General 2002 at 102 AAA Aaa
Transportation System Bonds, 1992 Series C, 6.10% Due
3/1/23. (General Obligation Bonds.)
500,000 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, 2003 at 102 AAA Aaa
Revenue Bonds, Massachusetts General Hospital Issue,
Series G, 5.25% Due 7/1/23.
500,000 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 Turnpike Authority, Turnpike Revenue Bonds, 2003 at 102 AAA Aaa
1993 Series A, 5.125% Due 1/1/23.
500,000 Massachusetts Port Authority, Revenue Bonds, Series 1992-B, 2003 at 102 AAA Aaa
6.00% Due 7/1/23.
450,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.00% Due 1/2
7/1/14.
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.67 5.38% 5.41% 5.43%
1,000-2,499 100,000-249,999 4.50 100.25 5.40 5.44 5.45
2,500-4,999 250,000-499,999 4.25 99.99 5.42 5.45 5.47
5,000-9,999 500,000-999,999 3.50 99.21 5.46 5.49 5.51
10,000 and over 1,000,000 and over 3.00 98.70 5.49 5.52 5.54
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 100.67 5.41% 5.44% 5.46%
1,000-2,499 100,000-249,999 4.50 100.25 5.43 5.46 5.48
2,500-4,999 250,000-499,999 4.25 99.99 5.45 5.47 5.49
5,000-9,999 500,000-999,999 3.50 99.21 5.49 5.52 5.54
10,000 and over 1,000,000 and over 3.00 98.70 5.52 5.55 5.57
</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
Massachusetts Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3773(1) $ 5.4169
-------- $.4514 every month --------
Quarterly Distribution Plan........... $ .3773(1) $ .9081(2) $ 1.3622 $ 1.3622 $ 1.3622 $ 5.4489
Semi-Annual Distribution Plan......... $ .3773(1) $ 2.2782(3) $ 2.7339 $ 5.4679
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01505 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.1137 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 06/01/94 is $.3773, and the
remaining $.7364 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 - $0.01505 Quarterly - $0.01514
Semi-Annual - $0.01519
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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.2 years.
The first bond is scheduled to mature in July, 2014, 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
MICHIGAN
INSURED
TRUST 53
Estimated Current Return
5.31% to 5.47%
as of 03/16/94
Estimated Long Term Return
5.42% to 5.58%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67095E 104 Monthly Payment Option
67095E 112 Quarterly Payment Option
67095E 120 Semi-Annual Payment Option
Registered in Michigan
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street 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, MICHIGAN INSURED TRUST 53
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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 Michigan State Housing Development Authority, Limited 2004 at 102 AAA Aaa
Obligation Revenue Bonds (Charter Square Project), Series
1994, 5.50% Due 1/15/21.
525,000 State of Michigan, State Trunk Line Fund Refunding Bonds, 2002 at 100 AAA Aaa
Series 1992B-2, 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.)
525,000 Chippewa Valley Schools, County of Macomb, State of 2003 at 102 AAA Aaa
Michigan, 1993 Refunding Bonds, 5.00% Due 5/1/21.
(Original issue discount bonds delivered on or about
September 7, 1993 at a price of 91.867% of principal
amount.)(General Obligation Bonds.)
375,000 The City of Grand Haven, Michigan, Electric System Revenue 2003 at 102 AAA Aaa
Refunding Bonds, 1993 Series, 5.25% Due 7/1/13.
525,000 City of Kalamazoo Hospital Finance Authority (Michigan), 2004 at 102 AAA Aaa
Hospital Revenue Refunding Bonds (Borgess Medical Center),
Series 1994A, 5.25% Due 6/1/17.
525,000 Warren Consolidated Schools, Counties of Macomb and Oakland, 2003 at 102 AAA Aaa
State of Michigan, 1993 Refunding Bonds, 5.50% Due 5/1/21.
(General Obligation Bonds.)
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.00% Due 1/2
7/1/14.
----------
$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 % $ 99.01 5.31% 5.34% 5.36%
1,000-2,499 100,000-249,999 4.50 98.60 5.33 5.36 5.38
2,500-4,999 250,000-499,999 4.25 98.34 5.35 5.38 5.40
5,000-9,999 500,000-999,999 3.50 97.58 5.39 5.42 5.44
10,000 and over 1,000,000 and over 3.00 97.07 5.42 5.45 5.47
</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 % $ 99.01 5.42% 5.45% 5.47%
1,000-2,499 100,000-249,999 4.50 98.60 5.44 5.47 5.49
2,500-4,999 250,000-499,999 4.25 98.34 5.46 5.48 5.50
5,000-9,999 500,000-999,999 3.50 97.58 5.50 5.53 5.55
10,000 and over 1,000,000 and over 3.00 97.07 5.53 5.56 5.58
</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
Michigan Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4380(1) $ 5.2570
-------- $.4380 every month --------
Quarterly Distribution Plan........... $ .4380(1) $ .8815(2) $ 1.3222 $ 1.3222 $ 1.3222 $ 5.2890
Semi-Annual Distribution Plan......... $ .4380(1) $ 2.2116(3) $ 2.6540 $ 5.3080
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01460 per unit per day.
Consequently, on the first Record Date (06/01/94), 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 06/01/94 is $.4380, and the
remaining $.6424 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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.7 years.
The first bond is scheduled to mature in July, 2013, with the last bond maturity
being October, 2021.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 173
Estimated Current Return
First
Year: 5.22% to 5.37%
Subsequent
Years: 5.24% to 5.40%
as of 03/16/94
Estimated Long Term Return
5.31% to 5.46%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706L6 224 Monthly Payment Option
6706L6 232 Quarterly Payment Option
6706L6 240 Semi-Annual Payment Option
Registered in New Jersey
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, NEW JERSEY INSURED TRUST 173
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 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>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 New Jersey Building Authority, State Building Revenue Bonds, 2003 at 102 AAA Aaa
1994 Series, 5.00% Due 6/15/17.
500,000 New Jersey Health Care Facilities Financing Authority, 2003 at 102 AAA Aaa
Revenue Bonds, The Mountainside Hospital Issue, Series
1993, 5.50% Due 7/1/14.
500,000 New Jersey Health Care Facilities, Financing Authority 2003 at 102 AAA Aaa
Revenue Bonds, Allegany Health System-Our Lady of Lourdes
Medical Center Issue, Series 1993, 5.20% Due 7/1/18.
425,000 New Jersey Health Care Facilities Financing Authority, 2004 at 102 AAA Aaa
Revenue Bonds, Riverview Medical Center Issue, Series
1994, 5.50% Due 7/1/18. (When issued.)
525,000 New Jersey Sports and Exposition Authority, State Contract 2003 at 101 AAA Aaa
Bonds, 1993 Series A, 5.50% Due 9/1/23.
525,000 The Pollution Control Financing Authority of Salem County 2003 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1993 Series C (Public Service Electric and Gas Company
Project), 5.55% Due 11/1/33.
525,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.00% Due 1/2
7/1/14.
----------
$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 % $ 101.00 (5.22%) 5.24% (5.25%) 5.27% (5.27%) 5.29%
1,000-2,499 100,000-249,999 4.50 100.58 (5.24) 5.26 (5.27) 5.29 (5.29) 5.31
2,500-4,999 250,000-499,999 4.25 100.31 (5.25) 5.28 (5.29) 5.31 (5.31) 5.33
5,000-9,999 500,000-999,999 3.50 99.53 (5.30) 5.32 (5.33) 5.35 (5.35) 5.37
10,000 and over 1,000,000 and over 3.00 99.02 (5.32) 5.35 (5.36) 5.38 (5.37) 5.40
</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 % $ 101.00 5.31% 5.34% 5.35%
1,000-2,499 100,000-249,999 4.50 100.58 5.33 5.36 5.38
2,500-4,999 250,000-499,999 4.25 100.31 5.34 5.37 5.39
5,000-9,999 500,000-999,999 3.50 99.53 5.39 5.41 5.43
10,000 and over 1,000,000 and over 3.00 99.02 5.41 5.44 5.46
</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
New Jersey Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3247(1) $ 5.2931
-------- $.4410 every month --------
Quarterly Distribution Plan........... $ .3247(1) $ .8875(2) $ 1.3312 $ 1.3312 $ 1.3312 $ 5.3251
Semi-Annual Distribution Plan......... $ .3247(1) $ 2.2267(3) $ 2.6720 $ 5.3441
- ---------------------------------------------------------------------------------------------------------------------------------
<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 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01470 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.0878 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 06/01/94 is $.3247, and the
remaining $.7631 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 - $0.01470 Quarterly - $0.01479
Semi-Annual - $0.01484
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.
- --------------------------------------------------------------------------------
720
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.0 years.
The first bond is scheduled to mature in July, 2014, with the last bond maturity
being November, 2033.
- -------------------------------------------------
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.
