<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NORTH CAROLINA
TRUST 274
(NORTH CAROLINA TRADITIONAL TRUST 274)
Estimated Current Return
5.24% to 5.40%
as of 03/23/94
Estimated Long Term Return
5.31% to 5.47%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
670958 701 Monthly Payment Option
670958 719 Quarterly Payment Option
670958 727 Semi-Annual Payment Option
Registered in North Carolina
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street 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--NORTH CAROLINA TRADITIONAL TRUST 274
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 24, 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 North Carolina Municipal Power Agency Number 1, Catawba 2003 at 100 AAA Aaa
Electric Revenue Bonds, Series 1992, 5.75% Due 1/1/20.
(Original issue discount bonds delivered on or about
December 10, 1992 at a price of 92.75% of principal
amount.)(MBIA Insured.)
500,000 Metropolitan Sewerage District of Buncombe County (North 2003 at 102 AAA Aaa
Carolina), Sewerage System Revenue Refunding Bonds, Series
1993A, 5.50% Due 7/1/22. (FGIC Insured.)
500,000 County of Catawba, North Carolina, Hospital Revenue Bonds 2002 at 102 AAA Aaa
(Catawba Memorial Hospital Project), Series 1992, 6.00%
Due 10/1/17. (AMBAC Insured.)
425,000 City of Charlotte, North Carolina, General Obligation Bonds, 2003 at 102 AAA Aaa
Water and Sewer Bonds, Series 1993, 5.25% Due 2/1/11.
500,000 City of Charlotte, North Carolina, Refunding Certificates of 2003 at 102 AAA Aaa
Participation (Convention Facility Project), Series 1993C,
5.25% Due 12/1/20. (Original issue discount bonds
delivered on or about August 25, 1993 at a price of
93.801% of principal amount.)(AMBAC Insured.)
500,000 County of Cumberland, North Carolina, Hospital Facility 2003 at 100 AAA Aaa
Revenue Refunding Bonds (Cumberland County Hospital
System, Inc.), Series 1993, 5.50% Due 10/1/14. (MBIA
Insured.)
500,000 County of New Hanover, North Carolina Hospital Revenue Bonds 2003 at 102 AAA Aaa
(New Hanover Regional Medical Center Project), Series
1993, 4.75% Due 10/1/23. (Original issue discount bonds
delivered on or about October 26, 1993 at a price of
92.775% of principal amount.)(AMBAC Insured.)
75,000 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>
50-999 $5,000-$99,999 4.90 % $ 100.56 5.24% 5.27% 5.29%
1,000-2,499 100,000-249,999 4.50 100.14 5.26 5.30 5.31
2,500-4,999 250,000-499,999 4.25 99.87 5.28 5.31 5.33
5,000-9,999 500,000-999,999 3.50 99.10 5.32 5.35 5.37
10,000 and over 1,000,000 and over 3.00 98.59 5.35 5.38 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 % $ 100.56 5.31% 5.35% 5.36%
1,000-2,499 100,000-249,999 4.50 100.14 5.33 5.37 5.39
2,500-4,999 250,000-499,999 4.25 99.87 5.34 5.38 5.40
5,000-9,999 500,000-999,999 3.50 99.10 5.39 5.42 5.44
10,000 and over 1,000,000 and over 3.00 98.59 5.41 5.45 5.47
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
North Carolina Traditional Trust 1994 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............. $ .2613(1) $ 5.2709
-------- $.4392 every month --------
Quarterly Distribution Plan........... $ .2613(1) $ .8838(2) $ 1.3257 $ 1.3257 $ 1.3257 $ 5.3029
Semi-Annual Distribution Plan......... $ .2613(1) $ 2.2174(3) $ 2.6609 $ 5.3219
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01464 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.9808 per unit for the 67-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 $.2613, and the
remaining $.7195 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 - $0.01464 Quarterly - $0.01473
Semi-Annual - $0.01478
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.
- --------------------------------------------------------------------------------
721
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.6 years.
The first bond is scheduled to mature in February, 2011, with the last bond
maturity being October, 2023.
- -------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------
<TABLE>
<CAPTION>
Rating Percent of Portfolio
Category Par Value
<S> <C> <C>
- -------------------------------------------------------------
AAA 100%
---
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
VIRGINIA
TRUST 284
(VIRGINIA TRADITIONAL TRUST 284)
Estimated Current Return
5.44% to 5.60%
as of 03/23/94
Estimated Long Term Return
5.52% to 5.68%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 226 Monthly Payment Option
6706L5 234 Quarterly Payment Option
6706L5 242 Semi-Annual Payment Option
Registered in Virginia
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--VIRGINIA TRADITIONAL TRUST 284
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 24, 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 Virginia Resources Authority, Sewer System Revenue Bonds 2003 at 100 AA --
(Harrisonburg-Rockingham Regional Sewer Authority
Project), 1992 Series A, 6.00% Due 5/1/22.
500,000 Commonwealth Transportation Board, Commonwealth of Virginia, 2003 at 102 AA Aa
Transportation Revenue Bonds, Series 1993B (U.S. Route 58
Corridor Development Program), 5.50% Due 5/15/18.
525,000 Industrial Development Authority of Albemarle County, 2003 at 102 -- A
Virginia, Hospital Refunding Revenue Bonds (Martha
Jefferson Hospital), Series 1993, 5.50% Due 10/1/20.
(Original issue discount bonds delivered on or about July
1, 1993 at a price of 93.313% of principal amount.)
475,000 Industrial Development Authority of Fairfax County, No Optional AA- Aa
Virginia, Hospital Revenue Refunding Bonds (Inova Health Call
System Hospitals Project), Series 1993A, 5.00% Due
8/15/23. (Original issue discount bonds delivered on or
about November 3, 1993 at a price of 94.807% of principal
amount.)
500,000 Fairfax County (Virginia), Water Authority, Water Refunding 2002 at 100 AA- Aa
Revenue Bonds, Series 1992, 5.75% Due 4/1/29. (Original
issue discount bonds delivered on or about December 8,
1992 at a price of 92.25% of principal amount.)
500,000 Industrial Development Authority of the Town of Louisa, 2004 at 102 A A2
Virginia, Pollution Control Revenue Bonds (Virginia
Electric and Power Company Project), Series 1994, 5.45%
Due 1/1/24.
500,000 Richmond Metropolitan Authority (Virginia), Expressway 2002 at 100 AAA Aaa
Revenue and Refunding Bonds, Series 1992-A, 5.75% Due
7/15/22. (Original issue discount bonds delivered on or
about June 9, 1992 at a price of 91.375% of principal
amount.)(FGIC Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-999 $5,000-$99,999 4.90 % $ 99.26 5.44% 5.47% 5.49%
1,000-2,499 100,000-249,999 4.50 98.85 5.46 5.49 5.51
2,500-4,999 250,000-499,999 4.25 98.59 5.47 5.51 5.53
5,000-9,999 500,000-999,999 3.50 97.82 5.52 5.55 5.57
10,000 and over 1,000,000 and over 3.00 97.32 5.55 5.58 5.60
</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 % $ 99.26 5.52% 5.55% 5.57%
1,000-2,499 100,000-249,999 4.50 98.85 5.54 5.58 5.60
2,500-4,999 250,000-499,999 4.25 98.59 5.55 5.59 5.61
5,000-9,999 500,000-999,999 3.50 97.82 5.60 5.64 5.66
10,000 and over 1,000,000 and over 3.00 97.32 5.63 5.67 5.68
</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
Virginia 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............. $ .2860(1) $ 5.3968
-------- $.4497 every month --------
Quarterly Distribution Plan........... $ .2860(1) $ .9047(2) $ 1.3571 $ 1.3571 $ 1.3571 $ 5.4288
Semi-Annual Distribution Plan......... $ .2860(1) $ 2.2699(3) $ 2.7238 $ 5.4478
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01499 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.0043 per unit for the 67-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 $.2860, and the
remaining $.7183 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 - $0.01499 Quarterly - $0.01508
Semi-Annual - $0.01513
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.
- --------------------------------------------------------------------------------
721
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.7 years.
The first bond is scheduled to mature in May, 2018, with the last bond maturity
being April, 2029.
- -------------------------------------------------
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 14%
AA 57
A 29
---
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
SHORT INTERMEDIATE
INSURED
TRUST 29
Estimated Current Return
First
Year: 4.15% to 4.25%
Subsequent
Years: 4.16% to 4.26%
as of 03/23/94
Estimated Long Term Return
4.38% to 4.47%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 163 Monthly Payment Option
6710A0 171 Quarterly Payment Option
6710A0 189 Semi-Annual Payment Option
Registered in all states
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 Los Angeles
New York, New York 10022 Philadelphia
Telephone: 212.207.2000 Phoenix
San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, SHORT INTERMEDIATE INSURED TRUST 29
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 24, 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 Municipality of Anchorage, Alaska, 1993 General Obligation No Optional AAA Aaa
Refunding General Purpose Bonds, Series B, 4.25% Due Call
8/1/98.
1,500,000 City of Tucson, Arizona, Junior Lien Street and Highway User No Optional AAA Aaa
Revenue Refunding Bonds, Series 1993, 4.60% Due 7/1/99. Call
500,000 San Diego County Water Authority (California), Water Revenue No Optional AAA Aaa
Refunding Certificates of Participation, Series 1993A, Call
4.90% Due 5/1/99.
1,000,000 State of California, Various Purpose, General Obligation No Optional AAA Aaa
Bonds, 4.70% Due 3/1/99. Call
1,000,000 City of Tampa, Florida, Allegany Health System Revenue No Optional AAA Aaa
Bonds, St. Mary's Hospital, Inc. Issue, Series 1993, 3.95% Call
Due 12/1/98.
1,000,000 Public Building Commission of Chicago (Illinois), Building No Optional AAA Aaa
Revenue Bonds, Series A of 1993 (Board of Education of the Call
City of Chicago), 4.70% Due 12/1/99. (General Obligation
Bonds.)
1,000,000 Parish School Board of the Parish of Jefferson, State of No Optional AAA Aaa
Louisiana, Sales Tax School Bonds, Refunding Series 1994, Call
4.20% Due 2/1/99.
200,000 New Jersey Wastewater Treatment Trust, Wastewater Treatment No Optional AAA Aaa
Refunding Bonds, Series 1994A, 0.00% Due 9/1/98. (Original Call
issue discount bonds will be delivered on or about March
31, 1994 at a price of 81.615% of principal amount.)(When
issued.)
200,000 Dormitory Authority of the State of New York, State No Optional AAA Aaa
University Educational Facilities Revenue Bonds, Series Call
1994A, 0.00% Due 5/15/99. (Original issue discount bonds
delivered on or about March 3, 1994 at a price of 80.767%
of principal amount.)
1,000,000 Hospital Facility Authority of the Western Lane Hospital No Optional AAA Aaa
District (Oregon), Revenue Refunding Bonds, Series 1994, Call
(Sisters of St. Joseph of Peace, Health and Hospital
Services), 4.75% Due 8/1/99. (When issued.)
600,000 Washington Public Power Supply System, Nuclear Project No. 1 No Optional AAA Aaa
Refunding Revenue Bonds, Series 1993A, 4.625% Due 7/1/98. Call
1,000,000 Wisconsin Health and Educational Facilities Authority, No Optional AAA Aaa
Revenue Bonds, Series 1992 (Marquette University Project), Call
5.30% Due 12/1/98.
----------
$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 3.00 % $ 101.94 (4.15%) 4.16% (4.18%) 4.19% (4.20%) 4.21%
1,000-2,499 100,000-249,999 2.60 101.52 (4.17) 4.18 (4.20) 4.21 (4.22) 4.23
2,500-4,999 250,000-499,999 2.35 101.26 (4.18) 4.19 (4.21) 4.22 (4.23) 4.24
5,000-9,999 500,000-999,999 2.10 101.00 (4.19) 4.20 (4.22) 4.23 (4.24) 4.25
10,000 and over 1,000,000 and over 1.85 100.74 (4.20) 4.21 (4.23) 4.24 (4.25) 4.26
</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 3.00 % $ 101.94 4.38% 4.41% 4.42%
1,000-2,499 100,000-249,999 2.60 101.52 4.39 4.43 4.44
2,500-4,999 250,000-499,999 2.35 101.26 4.40 4.44 4.45
5,000-9,999 500,000-999,999 2.10 101.00 4.42 4.45 4.46
10,000 and over 1,000,000 and over 1.85 100.74 4.42 4.46 4.47
</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
Short 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............. $ .1769(1) $ 4.2410
-------- $.3534 every month --------
Quarterly Distribution Plan........... $ .1769(1) $ .7121(2) $ 1.0682 $ 1.0682 $ 1.0682 $ 4.2730
Semi-Annual Distribution Plan......... $ .1769(1) $ 1.7883(3) $ 2.1460 $ 4.2920
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.08 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01178 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.7892 per unit for the 67-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 $.1769, and the
remaining $.6123 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 - $0.01178 Quarterly - $0.01187
Semi-Annual - $0.01192
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 12 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 9 states.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Alaska 9.7
Arizona 15.5
California 16.3
Florida 9.0
Illinois 10.7
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Louisiana 9.6
Oregon 10.8
Washington 6.3
Wisconsin 12.1
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 4.9 years.
The first bond is scheduled to mature in July, 1998, with the last bond maturity
being December, 1999.
- -------------------------------------------------
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.
721
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
TENNESSEE
INSURED
TRUST 25
Estimated Current Return
First
Year: 5.25% to 5.41%
Subsequent
Years: 5.28% to 5.44%
as of 03/23/94
Estimated Long Term Return
5.32% to 5.47%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67100U 820 Monthly Payment Option
67100U 838 Quarterly Payment Option
67100U 846 Semi-Annual Payment Option
Registered in Tennessee
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street 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, TENNESSEE INSURED TRUST 25
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 24, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 475,000 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.)
50,000 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.
510,000 Cumberland Utility District of Roane and Morgan Counties, 2004 at 102 AAA Aaa
Tennessee, Waterworks Revenue Refunding Bonds, Series
1994, 5.90% Due 1/1/23. (When issued.)
500,000 The Health and Educational Facilities Board of the City of 2004 at 102 AAA Aaa
Johnson City, Tennessee, Hospital Revenue Refunding Bonds,
Series 1994 (Johnson City Medical Center Hospital), 5.00%
Due 7/1/13. (Original issue discount bonds delivered on or
about March 8, 1994 at a price of 94.484% of principal
amount.)
500,000 The Health, Educational and Housing Facilities Board of the 2003 at 102 AAA Aaa
County of Knox (Tennessee), Hospital Facilities Revenue
Refunding Bonds, Series 1993 B (Mercy Health System),
6.00% Due 9/1/19.
500,000 Memphis-Shelby County Airport Authority (Tennessee), Airport 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.65% Due 9/1/15.
500,000 The Health, Educational and Housing Facilities Board of the 2003 at 102 AAA Aaa
County of Sullivan, Tennessee, Hospital Revenue Bonds,
Series 1993 (Holston Valley Health Care, Inc.), 5.75% Due
2/15/13.
465,000 Williamson County, Tennessee, Series 1994, General 2004 at 102 AAA Aaa
Obligation School Bonds, 5.60% Due 9/1/12. (When issued.)
----------
$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 % $ 102.76 (5.25%) 5.28% (5.28%) 5.31% (5.30%) 5.33%
1,000-2,499 100,000-249,999 4.50 102.33 (5.27) 5.30 (5.30) 5.33 (5.32) 5.35
2,500-4,999 250,000-499,999 4.25 102.07 (5.29) 5.32 (5.32) 5.35 (5.34) 5.37
5,000-9,999 500,000-999,999 3.50 101.27 (5.33) 5.36 (5.36) 5.39 (5.38) 5.41
10,000 and over 1,000,000 and over 3.00 100.75 (5.36) 5.39 (5.39) 5.42 (5.41) 5.44
</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 % $ 102.76 5.32% 5.35% 5.36%
1,000-2,499 100,000-249,999 4.50 102.33 5.34 5.37 5.39
2,500-4,999 250,000-499,999 4.25 102.07 5.35 5.38 5.40
5,000-9,999 500,000-999,999 3.50 101.27 5.39 5.42 5.44
10,000 and over 1,000,000 and over 3.00 100.75 5.42 5.45 5.47
</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
Tennessee 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............. $ .2264(1) $ 5.4268
-------- $.4522 every month --------
Quarterly Distribution Plan........... $ .2264(1) $ .9098(2) $ 1.3647 $ 1.3647 $ 1.3647 $ 5.4588
Semi-Annual Distribution Plan......... $ .2264(1) $ 2.2824(3) $ 2.7389 $ 5.4778
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01507 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$1.0096 per unit for the 67-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 $.2264, and the
remaining $.7832 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 - $0.01507 Quarterly - $0.01516
Semi-Annual - $0.01522
721
<PAGE>
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
721
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.4 years.
The first bond is scheduled to mature in September, 2012, with the last bond
maturity being January, 2023.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
