<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 285
(VIRGINIA TRADITIONAL TRUST 285)
Estimated Current Return
First
Year: 5.68% to 5.91%
Subsequent
Years: 5.72% to 5.94%
as of 04/12/94
Estimated Long Term Return
5.76% to 6.00%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 259 Monthly Payment Option
6706L5 267 Quarterly Payment Option
6706L5 275 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 285
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Virginia Public School Authority, School Financing , Series 2004 at 102 AA Aa
1994 A, 6.20% Due 8/1/14. (When issued.)
500,000 Industrial Development Authority of the City of Alexandria, 2004 at 102 A+ A1
Virginia, Pollution Control Revenue Refunding Bonds
(Potomac Electric Project), 1994 Series, 5.375% Due
2/15/24.
500,000 Industrial Development Authority of Covington-Alleghany 2002 at 102 A- --
County, Virginia, Hospital Facility Revenue Bonds
(Alleghany Regional Hospital), Series 1992, 6.875% Due
4/1/22.
500,000 Fairfax County Economic Development Authority (Virginia), 2004 at 102 AA Aa
Lease Revenue Bonds (Government Center Properties), Series
1994, 5.50% Due 5/15/18. (Original issue discount bonds
delivered on or about March 15, 1994 at a price of 93.654%
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.)
300,000 Industrial Development Authority of the City of 2002 at 102 AAA Aaa
Harrisonburg, Virginia, Hospital Revenue Bonds (Rockingham
Memorial Hospital), Series 1993, 5.75% Due 12/1/13. (MBIA
Insured.)
200,000 Industrial Development Authority of the County of Prince 2003 at 102 -- A
William (Virginia), Hospital Revenue Refunding Bonds
(Prince William Hospital), Series 1993, 5.625% Due 4/1/12.
500,000 Richmond Metropolitan Authority (Virginia), Expressway 2002 at 102 AAA Aaa
Revenue and Refunding Bonds, Series 1992-B, 6.25% Due
7/15/22. (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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.29 (5.68%) 5.72% (5.71%) 5.75% (5.73%) 5.77%
500-999 50,000-99,999 4.75 100.14 (5.69) 5.72 (5.72) 5.76 (5.74) 5.78
1,000-2,499 100,000-249,999 4.50 99.87 (5.71) 5.74 (5.74) 5.77 (5.76) 5.79
2,500-4,999 250,000-499,999 4.25 99.61 (5.72) 5.76 (5.75) 5.79 (5.77) 5.81
5,000-9,999 500,000-999,999 3.50 98.84 (5.76) 5.80 (5.80) 5.83 (5.82) 5.85
10,000-24,999 1,000,000-2,499,999 3.00 98.33 (5.79) 5.83 (5.83) 5.86 (5.85) 5.88
25,000-49,999 2,500,000-4,999,999 2.50 97.83 (5.82) 5.86 (5.86) 5.89 (5.88) 5.91
50,000 and over 5,000,000 and over 2.00 97.33 (5.85) 5.89 (5.89) 5.92 (5.91) 5.94
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 100.29 5.76 % 5.80 % 5.82 %
500-999 50,000-99,999 4.75 100.14 5.77 5.81 5.83
1,000-2,499 100,000-249,999 4.50 99.87 5.79 5.83 5.85
2,500-4,999 250,000-499,999 4.25 99.61 5.80 5.84 5.86
5,000-9,999 500,000-999,999 3.50 98.84 5.85 5.89 5.91
10,000-24,999 1,000,000-2,499,999 3.00 98.33 5.88 5.92 5.94
25,000-49,999 2,500,000-4,999,999 2.50 97.83 5.91 5.95 5.97
50,000 and over 5,000,000 and over 2.00 97.33 5.94 5.98 6.00
</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
Virginia Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2865(1) $ 5.7328
-------- $.4776 every month --------
Quarterly Distribution Plan........... $ .2865(1) $ 1.4409(2) $ 1.4409 $ 1.4409 $ 5.7648
Semi-Annual Distribution Plan......... $ .2865(1) $ 2.8908(3) $ 5.7838
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01592 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2865 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2865 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01592 Quarterly - $0.01601
Semi-Annual - $0.01606
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.
724
<PAGE>
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.3 years.
The first bond is scheduled to mature in April, 2012, 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 23%
AA 43
A1/A+ 14
A 20
---
100%
</TABLE>
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 223
Estimated Current Return
5.55% to 5.78%
as of 04/12/94
Estimated Long Term Return
5.71% to 5.93%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 162 Monthly Payment Option
67064U 170 Quarterly Payment Option
67064U 188 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 223
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 California Health Facilities Financing Authority, Kaiser 2003 at 102 AAA Aaa
Permanente, Revenue Bonds, 1993 Series C, 5.60% Due
5/1/33.
500,000 State Public Works Board of the State of California Lease 2002 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1993 Series D
(California State Prison-Lassen County, Susanville),
5.375% Due 6/1/18.
500,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Insured Health Facilities Revenue Certificates of
Participation (UniHealth America), 1993 Series A, 5.50%
Due 10/1/14.
500,000 The City of Los Angeles (California), Wastewater System 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993-B, 5.70% Due 6/1/23.
500,000 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,
250M-5.875% Due 9/1/30,
250M-5.875% Due 9/1/30.
500,000 County of Sacramento, California (Sacramento County Public 2003 at 102 AAA Aaa
Facilities Financing Corporation), Refunding Certificates
of Participation (Sacramento Main Detention Facility
Project), 5.75% Due 6/1/15.
500,000 City of Walnut Creek, California, Certificates of 2004 at 102 AAA Aaa
Participation, Refunding Series 1994 (John Muir Medical
Center), 5.00% Due 2/15/20. (Original issue discount bonds
delivered on or about February 17, 1994 at a price of
94.047% of principal amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 95.79 5.55% 5.58% 5.60%
500-999 50,000-99,999 4.75 95.64 5.56 5.59 5.61
1,000-2,499 100,000-249,999 4.50 95.39 5.57 5.61 5.63
2,500-4,999 250,000-499,999 4.25 95.14 5.59 5.62 5.64
5,000-9,999 500,000-999,999 3.50 94.40 5.63 5.67 5.69
10,000-24,999 1,000,000-2,499,999 3.00 93.92 5.66 5.70 5.72
25,000-49,999 2,500,000-4,999,999 2.50 93.44 5.69 5.73 5.75
50,000 and over 5,000,000 and over 2.00 92.96 5.72 5.75 5.78
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 95.79 5.71 % 5.74 % 5.75 %
500-999 50,000-99,999 4.75 95.64 5.71 5.74 5.76
1,000-2,499 100,000-249,999 4.50 95.39 5.73 5.76 5.78
2,500-4,999 250,000-499,999 4.25 95.14 5.74 5.77 5.79
5,000-9,999 500,000-999,999 3.50 94.40 5.79 5.82 5.84
10,000-24,999 1,000,000-2,499,999 3.00 93.92 5.82 5.85 5.87
25,000-49,999 2,500,000-4,999,999 2.50 93.44 5.85 5.88 5.90
50,000 and over 5,000,000 and over 2.00 92.96 5.88 5.91 5.93
</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>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2658(1) $ 5.3177
-------- $.4431 every month --------
Quarterly Distribution Plan........... $ .2658(1) $ 1.3374(2) $ 1.3374 $ 1.3374 $ 5.3497
Semi-Annual Distribution Plan......... $ .2658(1) $ 2.6838(3) $ 5.3687
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.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 $.01477 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2658 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2658 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01477 Quarterly - $0.01486
Semi-Annual - $0.01491
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.0 years.
The first bond is scheduled to mature in October, 2014, with the last bond
maturity being May, 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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 188
Estimated Current Return
5.59% to 5.81%
as of 04/12/94
Estimated Long Term Return
5.69% to 5.92%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 226 Monthly Payment Option
6706H3 234 Quarterly Payment Option
6706H3 242 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 188
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 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.)
500,000 Jacksonville Electric Authority (Jacksonville, Florida), 2002 at 101 AAA Aaa
Bulk Power Supply System Revenue Bonds (Scherer 4 Project,
Refunding Issue, Series 1993 A), 5.25% Due 10/1/21.
500,000 Orange County, Florida, Water Utilities System Revenue 2002 at 102 AAA Aaa
Bonds, Series 1992, 6.25% Due 10/1/17.
500,000 Orlando (Florida) Utilities Commission, Water and Electric 2002 at 102 AAA Aaa
Subordinated Revenue Bonds, Series 1992A, 6.00% Due
10/1/20.
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.
500,000 Pinellas County, Florida, Sewer Revenue Bonds, Series 1994, 2002 at 102 AAA Aaa
5.875% Due 10/1/21.
500,000 South Broward Hospital District (Florida), Hospital Revenue 2003 at 102 AAA Aaa
and Refunding Revenue Bonds, Series 1993, 5.50% Due
5/1/22.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 97.67 5.59% 5.62% 5.64%
500-999 50,000-99,999 4.75 97.51 5.60 5.63 5.65
1,000-2,499 100,000-249,999 4.50 97.26 5.61 5.64 5.66
2,500-4,999 250,000-499,999 4.25 97.00 5.62 5.66 5.68
5,000-9,999 500,000-999,999 3.50 96.25 5.67 5.70 5.72
10,000-24,999 1,000,000-2,499,999 3.00 95.75 5.70 5.73 5.75
25,000-49,999 2,500,000-4,999,999 2.50 95.26 5.73 5.76 5.78
50,000 and over 5,000,000 and over 2.00 94.78 5.76 5.79 5.81
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 97.67 5.69 % 5.73 % 5.74 %
500-999 50,000-99,999 4.75 97.51 5.69 5.73 5.75
1,000-2,499 100,000-249,999 4.50 97.26 5.71 5.75 5.77
2,500-4,999 250,000-499,999 4.25 97.00 5.72 5.76 5.78
5,000-9,999 500,000-999,999 3.50 96.25 5.77 5.81 5.83
10,000-24,999 1,000,000-2,499,999 3.00 95.75 5.80 5.84 5.86
25,000-49,999 2,500,000-4,999,999 2.50 95.26 5.83 5.87 5.89
50,000 and over 5,000,000 and over 2.00 94.78 5.86 5.90 5.92
</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
Florida Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2727(1) $ 5.4560
-------- $.4545 every month --------
Quarterly Distribution Plan........... $ .2727(1) $ 1.3716(2) $ 1.3716 $ 1.3716 $ 5.4880
Semi-Annual Distribution Plan......... $ .2727(1) $ 2.7522(3) $ 5.5070
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01515 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2727 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2727 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01515 Quarterly - $0.01524
Semi-Annual - $0.01529
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.1 years.
The first bond is scheduled to mature in October, 2017, 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 112
Estimated Current Return
5.69% to 5.92%
as of 04/12/94
Estimated Long Term Return
5.73% to 5.95%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670946 730 Monthly Payment Option
670946 748 Quarterly Payment Option
670946 755 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 112
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Massachusetts Bay Transportation Authority, General 2003 at 102 AAA Aaa
Transportation System Bonds, 1993 Series A Refunding,
5.50% Due 3/1/22. (General Obligation Bonds.)
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.
500,000 Massachusetts Health and Educational Facilities Authority, 2002 at 102 AAA Aaa
Revenue Bonds, Northeastern University Issue, Series E,
6.55% Due 10/1/22.
500,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, Smith College Issue, Series D, 5.75% Due
7/1/16.
500,000 Massachusetts Health and Educational Facilities Authority, 2002 at 102 AAA Aaa
Revenue Bonds, South Shore Hospital Issue, Series D, 6.50%
Due 7/1/22.
500,000 Massachusetts Municipal Wholesale Electric Company, A Public 2002 at 102 AAA Aaa
Corporation of the Commonwealth of Massachusetts Power
Supply System Revenue Bonds, 1992 Series E, 6.125% Due
7/1/19.
500,000 City of Springfield, Massachusetts, General Obligation 2003 at 102 AAA Aaa
Municpal Purpose Loan of 1993 Bonds, Series B, 6.00% Due
1/15/13.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 100.97 5.69% 5.73% 5.74%
500-999 50,000-99,999 4.75 100.81 5.70 5.73 5.75
1,000-2,499 100,000-249,999 4.50 100.54 5.72 5.75 5.77
2,500-4,999 250,000-499,999 4.25 100.28 5.73 5.76 5.78
5,000-9,999 500,000-999,999 3.50 99.50 5.78 5.81 5.83
10,000-24,999 1,000,000-2,499,999 3.00 98.99 5.81 5.84 5.86
25,000-49,999 2,500,000-4,999,999 2.50 98.48 5.84 5.87 5.89
50,000 and over 5,000,000 and over 2.00 97.98 5.87 5.90 5.92
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 100.97 5.73 % 5.75 % 5.77 %
500-999 50,000-99,999 4.75 100.81 5.73 5.76 5.78
1,000-2,499 100,000-249,999 4.50 100.54 5.75 5.78 5.80
2,500-4,999 250,000-499,999 4.25 100.28 5.76 5.79 5.81
5,000-9,999 500,000-999,999 3.50 99.50 5.81 5.84 5.86
10,000-24,999 1,000,000-2,499,999 3.00 98.99 5.84 5.87 5.89
25,000-49,999 2,500,000-4,999,999 2.50 98.48 5.87 5.90 5.92
50,000 and over 5,000,000 and over 2.00 97.98 5.90 5.93 5.95
</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>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2872(1) $ 5.7486
-------- $.4788 every month --------
Quarterly Distribution Plan........... $ .2872(1) $ 1.4445(2) $ 1.4445 $ 1.4445 $ 5.7806
Semi-Annual Distribution Plan......... $ .2872(1) $ 2.8998(3) $ 5.7996
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01596 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2872 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2872 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01596 Quarterly - $0.01605
Semi-Annual - $0.01611
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.9 years.
The first bond is scheduled to mature in January, 2013, with the last bond
maturity being July, 2024.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 215
Estimated Current Return
5.58% to 5.80%
as of 04/12/94
Estimated Long Term Return
5.62% to 5.84%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H5 528 Monthly Payment Option
6706H5 536 Quarterly Payment Option
6706H5 544 Semi-Annual Payment Option
Registered in New York, Connecticut & 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, NEW YORK INSURED TRUST 215
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Dormitory Authority of the State of New York, State No Optional AAA Aaa
University Educational Facilities Revenue Bonds, Series Call
1993A, 5.875% Due 5/15/11.
500,000 Dormitory Authority of the State of New York, Revenue Bonds, 2004 at 102 AAA Aaa
Upstate Community Colleges, Series 1994A, 5.70% Due
7/1/21.
165,000 New York Local Government Assistance Corporation (A Public 2003 at 102 AAA Aaa
Benefit Corporation of the State of New York), Series
1993C Refunding Bonds, 5.50% Due 4/1/18.
335,000 New York Local Government Assistance Corporation (A Public 2004 at 101 AAA Aaa
Benefit Corporation of the State of New York), Series 1/2
1994A Bonds, 5.50% Due 4/1/23.
500,000 New York State Medical Care Facilities Finance Agency, 2004 at 102 AAA Aaa
Mental Health Services Facilities Improvement Revenue
Bonds, 1994 Series A, 5.25% Due 8/15/23. (Original issue
discount bonds delivered on or about February 24, 1994 at
a price of 92.804% of principal amount.)(General
Obligation Bonds.)
500,000 The City of New York (New York), General Obligation Bonds, 2002 at 101 AAA Aaa
Fiscal 1993 Series B, 7.00% Due 10/1/09. 1/2
500,000 Metropolitan Transportation Authority (New York), Transit 2003 at 101 AAA Aaa
Facilities Service Contract Bonds, Series P, 5.75% Due 1/2
7/1/15.
500,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal
1994 Series B, 5.50% Due 6/15/19.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 99.87 5.58% 5.61% 5.63%
500-999 50,000-99,999 4.75 99.72 5.59 5.62 5.64
1,000-2,499 100,000-249,999 4.50 99.46 5.60 5.64 5.66
2,500-4,999 250,000-499,999 4.25 99.20 5.62 5.65 5.67
5,000-9,999 500,000-999,999 3.50 98.42 5.66 5.70 5.71
10,000-24,999 1,000,000-2,499,999 3.00 97.92 5.69 5.72 5.74
25,000-49,999 2,500,000-4,999,999 2.50 97.42 5.72 5.75 5.77
50,000 and over 5,000,000 and over 2.00 96.92 5.75 5.78 5.80
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 99.87 5.62 % 5.65 % 5.67 %
500-999 50,000-99,999 4.75 99.72 5.63 5.66 5.67
1,000-2,499 100,000-249,999 4.50 99.46 5.64 5.67 5.69
2,500-4,999 250,000-499,999 4.25 99.20 5.66 5.69 5.70
5,000-9,999 500,000-999,999 3.50 98.42 5.70 5.73 5.75
10,000-24,999 1,000,000-2,499,999 3.00 97.92 5.73 5.76 5.78
25,000-49,999 2,500,000-4,999,999 2.50 97.42 5.76 5.79 5.81
50,000 and over 5,000,000 and over 2.00 96.92 5.79 5.82 5.84
</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
New York Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2786(1) $ 5.5736
-------- $.4644 every month --------
Quarterly Distribution Plan........... $ .2786(1) $ 1.4013(2) $ 1.4013 $ 1.4013 $ 5.6056
Semi-Annual Distribution Plan......... $ .2786(1) $ 2.8116(3) $ 5.6246
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01548 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2786 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2786 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01548 Quarterly - $0.01557
Semi-Annual - $0.01562
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.3 years.
The first bond is scheduled to mature in October, 2009, with the last bond
maturity being August, 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
OHIO
INSURED
TRUST 113
Estimated Current Return
5.56% to 5.78%
as of 04/12/94
Estimated Long Term Return
5.65% to 5.88%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 342 Monthly Payment Option
67101Y 359 Quarterly Payment Option
67101Y 367 Semi-Annual Payment Option
Registered in Ohio
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street 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, OHIO INSURED TRUST 113
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Ohio Air Quality Development Authority, State of Ohio, 2004 at 102 AAA Aaa
Collateralized Air Quality Development Revenue Refunding
Bonds, 1994 Series B (The Cincinnati Gas & Electric
Company Project), 5.45% Due 1/1/24.
500,000 Ohio Water Development Authority, Water Development Revenue 2002 at 102 AAA Aaa
Refunding Bonds, Pure Water Refunding and Improvement
Series, 5.50% Due 12/1/18. (Original issue discount bonds
delivered on or about October 14, 1992 at a price of
89.804% of principal amount.)
500,000 County of Cuyahoga, Ohio, Hospital Facilities Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993, Health Cleveland, Inc. (Fairview General
Hospital Project), 6.30% Due 8/15/15.
500,000 County of Lucas, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993B (St. Vincent Medical Center), 5.375% Due
8/15/17.
500,000 County of Lucas, Ohio, Hospital Improvement and Refunding 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993 (The Toledo Hospital), 5.00%
Due 11/15/22. (Original issue discount bonds delivered on
or about July 29, 1993 at a price of 91.402% of principal
amount.)
500,000 City of Newark, Ohio, Water System Improvement Bonds 2003 at 102 AAA Aaa
(Limited Tax General Obligation), 6.00% Due 12/1/18.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.25% Due 1/2
7/1/10.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 98.57 5.56% 5.59% 5.61%
500-999 50,000-99,999 4.75 98.41 5.57 5.60 5.62
1,000-2,499 100,000-249,999 4.50 98.16 5.58 5.62 5.64
2,500-4,999 250,000-499,999 4.25 97.90 5.60 5.63 5.65
5,000-9,999 500,000-999,999 3.50 97.14 5.64 5.68 5.69
10,000-24,999 1,000,000-2,499,999 3.00 96.64 5.67 5.70 5.72
25,000-49,999 2,500,000-4,999,999 2.50 96.14 5.70 5.73 5.75
50,000 and over 5,000,000 and over 2.00 95.65 5.73 5.76 5.78
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 98.57 5.65 % 5.69 % 5.71 %
500-999 50,000-99,999 4.75 98.41 5.66 5.69 5.71
1,000-2,499 100,000-249,999 4.50 98.16 5.67 5.71 5.73
2,500-4,999 250,000-499,999 4.25 97.90 5.69 5.72 5.74
5,000-9,999 500,000-999,999 3.50 97.14 5.73 5.77 5.79
10,000-24,999 1,000,000-2,499,999 3.00 96.64 5.76 5.80 5.82
25,000-49,999 2,500,000-4,999,999 2.50 96.14 5.79 5.83 5.85
50,000 and over 5,000,000 and over 2.00 95.65 5.82 5.86 5.88
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Ohio Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2739(1) $ 5.4811
-------- $.4566 every month --------
Quarterly Distribution Plan........... $ .2739(1) $ 1.3779(2) $ 1.3779 $ 1.3779 $ 5.5131
Semi-Annual Distribution Plan......... $ .2739(1) $ 2.7648(3) $ 5.5321
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01522 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2739 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2739 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01522 Quarterly - $0.01531
Semi-Annual - $0.01536
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.1 years.
The first bond is scheduled to mature in July, 2010, with the last bond maturity
being January, 2024.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
PENNSYLVANIA
INSURED
TRUST 178
Estimated Current Return
5.61% to 5.83%
as of 04/12/94
Estimated Long Term Return
5.69% to 5.91%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H9 348 Monthly Payment Option
6706H9 355 Quarterly Payment Option
6706H9 363 Semi-Annual Payment Option
Registered in Pennsylvania & 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, PENNSYLVANIA INSURED TRUST 178
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 13, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Allegheny County Hospital Development Authority 2002 at 100 AAA Aaa
(Pennsylvania), Health Center Revenue Bonds, Series 1992A
(Presbyterian University Health System, Inc. Project),
6.25% Due 11/1/23.
500,000 Bucks County Community College Authority, Bucks County, 2002 at 100 AAA Aaa
Pennsylvania, College Building Revenue and Refunding
Bonds, Series of 1992, 6.25% Due 6/15/14. (General
Obligation Bonds.)
500,000 Delaware County Authority (Commonwealth of Pennsylvania), 2002 at 102 AAA Aaa
University Revenue Bonds, Series of 1992 (Villanova
University), 6.00% Due 8/1/12.
500,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series A
(Pennsylvania Power & Light Company Project), 5.50% Due
2/15/27.
500,000 Lehigh-Northampton Airport Authority (Pennsylvania), Airport 2004 at 102 AAA Aaa
Revenue Bonds, Series 1993B (Allentown-Bethlehem-Easton
International Airport), 5.50% Due 1/1/18.
500,000 Oil City Area School District, Venango County, Pennsylvania, 2004 at 100 AAA Aaa
General Obligation Bonds, Series B of 1994, 5.45% Due
5/15/18.
500,000 City of Pittsburgh (Commonwealth of Pennsylvania), General 2002 at 102 AAA Aaa
Obligation Bonds, Series of 1992D, 6.125% Due 9/1/17.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 100.71 5.61% 5.64% 5.66%
500-999 50,000-99,999 4.75 100.56 5.61 5.65 5.67
1,000-2,499 100,000-249,999 4.50 100.29 5.63 5.66 5.68
2,500-4,999 250,000-499,999 4.25 100.03 5.64 5.68 5.70
5,000-9,999 500,000-999,999 3.50 99.25 5.69 5.72 5.74
10,000-24,999 1,000,000-2,499,999 3.00 98.74 5.72 5.75 5.77
25,000-49,999 2,500,000-4,999,999 2.50 98.24 5.75 5.78 5.80
50,000 and over 5,000,000 and over 2.00 97.73 5.78 5.81 5.83
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
AMOUNT PURCHASED
- -------------------------------------
Estimated Long Term Return (3)
Units -----------------------------------------------------
- ----------------
Public
Sales Offering Monthly Quarterly Semi-Annual
Dollars Charge Price (1) Payment Payment Payment
------------------- ------ ----------- ------------- ------------- -------------
50-499 $5,000-$49,999 4.90 % $ 100.71 5.69 % 5.72 % 5.74 %
500-999 50,000-99,999 4.75 100.56 5.69 5.72 5.74
1,000-2,499 100,000-249,999 4.50 100.29 5.71 5.74 5.76
2,500-4,999 250,000-499,999 4.25 100.03 5.72 5.75 5.77
5,000-9,999 500,000-999,999 3.50 99.25 5.77 5.80 5.82
10,000-24,999 1,000,000-2,499,999 3.00 98.74 5.80 5.83 5.85
25,000-49,999 2,500,000-4,999,999 2.50 98.24 5.83 5.86 5.88
50,000 and over 5,000,000 and over 2.00 97.73 5.86 5.89 5.91
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Pennsylvania Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2822(1) $ 5.6458
-------- $.4704 every month --------
Quarterly Distribution Plan........... $ .2822(1) $ 1.4193(2) $ 1.4193 $ 1.4193 $ 5.6778
Semi-Annual Distribution Plan......... $ .2822(1) $ 2.8476(3) $ 5.6968
- --------------------------------------------------------------------------------------------------------------------
<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. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01568 per unit per day.
Consequently, on the first Record Date (05/01/94), accrued interest will total
$0.2822 per unit for the 18-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 05/01/94 is $.2822 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01568 Quarterly - $0.01577
Semi-Annual - $0.01582
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.
- --------------------------------------------------------------------------------
724
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.6 years.
The first bond is scheduled to mature in August, 2012, with the last bond
maturity being February, 2027.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-351-4100
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
