<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 268
Estimated Current Return
First
Year: 5.78% to 6.01%
Subsequent
Years: 5.81% to 6.04%
as of 04/21/94
Estimated Long Term Return
5.82% to 6.05%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101X 617 Monthly Payment Option
67101X 625 Quarterly Payment Option
67101X 633 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NATIONAL INSURED TRUST 268
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 22, 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 Board of Governors of State Colleges and Universities, 2004 at 102 AAA Aaa
Chicago State University (Illinois), Auxiliary Facilities
System Revenue Bonds, Series 1994, 6.15% Due 12/1/23.
(When issued.)
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series 2004 at 102 AAA Aaa
1994 (Southern Illinois Hospital Services), 5.90% Due
3/1/20.
1,000,000 Clark-Pleasant Multi School Building Corporation (Johnson 2004 at 102 AAA Aaa
County, Indiana), First Mortgage Bonds, Series 1994, 6.45%
Due 1/15/17. (General Obligation Bonds.) (When issued.)
1,000,000 County of Boone, Kentucky, Collateralized Pollution Control 2002 at 102 AAA Aaa
Revenue Refunding Bonds, 1992 Series A (The Dayton Power
and Light Company Project), 6.50% Due 11/15/22.
250,000 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 Tulsa Industrial Authority (Oklahoma), Hospital Revenue 2004 at 102 AAA Aaa
Bonds (St. John Medical Center Project), Series 1994A,
6.25% Due 2/15/17. (When issued.)
1,000,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
250,000 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.
1,000,000 Lehigh County Industrial Development Authority 2002 at 102 AAA Aaa
(Pennsylvania), Pollution Control Revenue Refunding Bonds,
1992 Series A (Pennsylvania Power & Light Company
Project), 6.40% Due 11/1/21.
1,000,000 Matagorda County Navigation District Number One (Texas), 2003 at 102 AAA Aaa
Pollution Control Revenue Refunding Bonds (Central Power
and Light Company Project), Series 1993, 6.00% Due 7/1/28.
1,000,000 Municipality of Metropolitan Seattle (Seattle, Washington), 2003 at 102 AAA Aaa
Sewer Revenue Bonds, Series W, 6.30% Due 1/1/33.
1,000,000 Wisconsin Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds (Sisters of the Sorrowful Mother-Ministry
Corporation), Series 1993A, 6.125% Due 8/15/22.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 102.79 (5.78%) 5.81% (5.81%) 5.84% (5.83%) 5.86%
500-999 50,000-99,999 4.75 102.62 (5.79) 5.82 (5.82) 5.85 (5.84) 5.87
1,000-2,499 100,000-249,999 4.50 102.36 (5.81) 5.83 (5.84) 5.86 (5.86) 5.88
2,500-4,999 250,000-499,999 4.25 102.09 (5.82) 5.85 (5.85) 5.88 (5.87) 5.90
5,000-9,999 500,000-999,999 3.50 101.30 (5.87) 5.89 (5.90) 5.93 (5.92) 5.94
10,000-24,999 1,000,000-2,499,999 3.00 100.77 (5.90) 5.93 (5.93) 5.96 (5.95) 5.98
25,000-49,999 2,500,000-4,999,999 2.50 100.26 (5.93) 5.96 (5.96) 5.99 (5.98) 6.01
50,000 and over 5,000,000 and over 2.00 99.75 (5.96) 5.99 (5.99) 6.02 (6.01) 6.04
</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 % $ 102.79 5.82 % 5.86 % 5.87 %
500-999 50,000-99,999 4.75 102.62 5.83 5.86 5.87
1,000-2,499 100,000-249,999 4.50 102.36 5.85 5.88 5.89
2,500-4,999 250,000-499,999 4.25 102.09 5.86 5.90 5.91
5,000-9,999 500,000-999,999 3.50 101.30 5.91 5.94 5.95
10,000-24,999 1,000,000-2,499,999 3.00 100.77 5.94 5.98 5.99
25,000-49,999 2,500,000-4,999,999 2.50 100.26 5.97 6.01 6.02
50,000 and over 5,000,000 and over 2.00 99.75 6.00 6.04 6.05
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National 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............. $ .6466(1) $ 5.9710
-------- $.4974 every month --------
Quarterly Distribution Plan........... $ .6466(1) $ 1.0002(2) $ 1.5003 $ 1.5003 $ 1.5003 $ 6.0030
Semi-Annual Distribution Plan......... $ .6466(1) $ 2.5080(3) $ 3.0096 $ 6.0220
- ---------------------------------------------------------------------------------------------------------------------------------
<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) 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 $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01658 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.6466 per unit for the 39-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 06/01/94 is $.6466 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01658 Quarterly - $0.01667
Semi-Annual - $0.01672
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>
- ------------------------
%
Illinois 19.5
Indiana 10.4
Kentucky 10.5
Massachusetts 2.6
Oklahoma 5.1
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Pennsylvania 22.1
Texas 9.7
Washington 10.2
Wisconsin 9.9
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 29.0 years.
The first bond is scheduled to mature in January, 2017, with the last bond
maturity being January, 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.
- -------------------------------------------------
* 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
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
726
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
SHORT INTERMEDIATE
INSURED
TRUST 30
Estimated Current Return
4.56% to 4.68%
as of 04/21/94
Estimated Long Term Return
4.63% to 4.75%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 197 Monthly Payment Option
6710A0 205 Quarterly Payment Option
6710A0 213 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street 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 30
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 22, 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 North Slope Borough, Alaska, General Obligation Bonds, No Optional AAA Aaa
Series 1992A, 4.85% Due 6/30/98. Call
1,000,000 District of Columbia (Washington, D.C.), General Obligation No Optional AAA Aaa
Refunding Bonds, Series 1993C, 4.90% Due 12/1/98. Call
1,000,000 State of Florida, Department of Environmental Protection, No Optional AAA Aaa
Preservation 2000 Revenue Bonds, Series 1994A, 4.30% Due Call
7/1/98.
1,000,000 City of Chicago, Illinois, Water Revenue Bonds, Refunding No Optional AAA Aaa
Series 1992, 4.90% Due 11/1/98. Call
1,000,000 The Turnpike Authority of Kentucky, Economic Development No Optional AAA Aaa
Road Revenue Refunding Bonds (Revitalization Projects), Call
Series 1992, 5.375% Due 1/1/00.
1,000,000 Southfield Public Schools, Oakland County, Michigan, School No Optional AAA Aaa
Facilities Bonds, Series 1994, 4.75% Due 5/1/99. (General Call
Obligation Bonds.) (When issued.)
1,000,000 Charter County of Wayne, Michigan, Airport Revenue Refunding No Optional AAA Aaa
Bonds (Detroit Metropolitan Wayne County Airport), Series Call
1994A, 4.95% Due 12/1/99. (When issued.)
1,500,000 Las Vegas Valley Water District, Nevada, General Obligation, No Optional AAA Aaa
Water Improvement and Refunding Bonds, Series 9/1/92, Call
5.20% Due 9/1/99.
500,000 Tulsa Industrial Authority (Oklahoma), Hospital Revenue No Optional AAA Aaa
Bonds (St. John Medical Center Project), Series 1994A, Call
5.10% Due 2/15/99. (When issued.)
1,000,000 Dallas-Fort Worth International Airport (Texas), Dal- No Optional AAA Aaa
las-Fort Worth Regional Airport, Joint Revenue Refunding Call
Bonds, Series 1993, 4.50% Due 11/1/99.
----------
$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>
50-499 $5,000-$49,999 3.00 % $ 102.81 4.56% 4.60% 4.61%
500-999 50,000-99,999 2.80 102.60 4.57 4.60 4.62
1,000-2,499 100,000-249,999 2.60 102.39 4.58 4.61 4.63
2,500-4,999 250,000-499,999 2.35 102.13 4.59 4.63 4.64
5,000-9,999 500,000-999,999 2.10 101.87 4.61 4.64 4.66
10,000-24,999 1,000,000-2,499,999 1.85 101.61 4.62 4.65 4.67
25,000-49,999 2,500,000-4,999,999 1.80 101.56 4.62 4.65 4.67
50,000 and over 5,000,000 and over 1.50 101.25 4.63 4.67 4.68
</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 3.00 % $ 102.81 4.63 % 4.66 % 4.68 %
500-999 50,000-99,999 2.80 102.60 4.64 4.67 4.69
1,000-2,499 100,000-249,999 2.60 102.39 4.65 4.68 4.70
2,500-4,999 250,000-499,999 2.35 102.13 4.66 4.69 4.70
5,000-9,999 500,000-999,999 2.10 101.87 4.67 4.70 4.72
10,000-24,999 1,000,000-2,499,999 1.85 101.61 4.68 4.71 4.73
25,000-49,999 2,500,000-4,999,999 1.80 101.56 4.68 4.71 4.73
50,000 and over 5,000,000 and over 1.50 101.25 4.70 4.73 4.75
</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.
- --------------------------------------------------------------------------------
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............. $ .5081(1) $ 4.6923
-------- $.3909 every month --------
Quarterly Distribution Plan........... $ .5081(1) $ .7872(2) $ 1.1808 $ 1.1808 $ 1.1808 $ 4.7243
Semi-Annual Distribution Plan......... $ .5081(1) $ 1.9755(3) $ 2.3706 $ 4.7433
- ---------------------------------------------------------------------------------------------------------------------------------
<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) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01303 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.5081 per unit for the 39-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 06/01/94 is $.5081 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01303 Quarterly - $0.01312
Semi-Annual - $0.01317
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 10 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 8 states and the District of Columbia.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Alaska 9.9
Washington D.C. 10.0
Florida 8.8
Illinois 10.0
Kentucky 11.0
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Michigan 19.9
Nevada 16.0
Oklahoma 5.2
Texas 9.2
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 5.0 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
1998................................. 4,000 40.0%
1999................................. 5,000 50.0
2000................................. 1,000 10.0
</TABLE>
- -------------------------------------------------
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
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
726
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
ARIZONA
INSURED
TRUST 32
Estimated Current Return
First
Year: 5.54% to 5.76%
Subsequent
Years: 5.58% to 5.80%
as of 04/21/94
Estimated Long Term Return
5.64% to 5.86%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101J 253 Monthly Payment Option
67101J 261 Quarterly Payment Option
67101J 279 Semi-Annual Payment Option
Registered in Arizona
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, ARIZONA INSURED TRUST 32
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 22, 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 Central Arizona Water Conservation District (Central Arizona No Optional AAA Aaa
Project), Contract Revenue Refunding Bonds, Series A 1993, Call
5.50% Due 11/1/10.
350,000 City of Peoria, Arizona, General Obligation Bonds (Projects 2002 at 101 AAA Aaa
of 1990), Series 1994,
240M-6.40% Due 7/1/10,
110M-6.40% Due 7/1/11.
(When issued.)
500,000 Peoria Municipal Development Authority, Inc. (Arizona), 2002 at 101 AAA Aaa
Municipal Facilities (Utilities) Revenue Bonds, Series
1994, 5.75% Due 7/1/14. (Original issue discount bonds
will be delivered on or about May 4, 1994 at a price of
94.852% of principal amount.)(When issued.)
500,000 City of Phoenix (Arizona), Civic Improvement Corporation, 2004 at 102 AAA Aaa
Junior Lien Water System Revenue Bonds, Series 1994, 5.50%
Due 7/1/24.
500,000 City of Phoenix, Arizona, Junior Lien Street and Highway 2002 at 102 AAA Aaa
User Revenue Refunding Bonds, Series 1992, 6.25% Due
7/1/11. (Original issue discount bonds delivered on or
about April 21, 1992 at a price of 94.344% of principal
amount.)
500,000 Salt River Project Agricultural Improvement and Power 2002 at 100 AAA Aaa
District, Arizona, Salt River Project Electric System
Revenue Bonds, 1992 Series D, 5.50% Due 1/1/25. (Original
issue discount bonds delivered on or about July 30, 1992
at a price of 89.90% of principal amount.)
525,000 City of Tucson, Arizona, General Obligation Bonds, Series 2004 at 101 AAA Aaa
1984-G (1994), 6.25% Due 7/1/18. (When issued.)
125,000 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 101.20 (5.54%) 5.58% (5.57%) 5.61% (5.59%) 5.63%
500-999 50,000-99,999 4.75 101.04 (5.55) 5.59 (5.58) 5.62 (5.60) 5.64
1,000-2,499 100,000-249,999 4.50 100.78 (5.56) 5.60 (5.59) 5.63 (5.61) 5.65
2,500-4,999 250,000-499,999 4.25 100.51 (5.58) 5.62 (5.61) 5.65 (5.63) 5.67
5,000-9,999 500,000-999,999 3.50 99.73 (5.62) 5.66 (5.65) 5.69 (5.67) 5.71
10,000-24,999 1,000,000-2,499,999 3.00 99.22 (5.65) 5.69 (5.68) 5.72 (5.70) 5.74
25,000-49,999 2,500,000-4,999,999 2.50 98.71 (5.68) 5.72 (5.71) 5.75 (5.73) 5.77
50,000 and over 5,000,000 and over 2.00 98.20 (5.71) 5.75 (5.74) 5.78 (5.76) 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 % $ 101.20 5.64 % 5.67 % 5.69 %
500-999 50,000-99,999 4.75 101.04 5.65 5.67 5.69
1,000-2,499 100,000-249,999 4.50 100.78 5.66 5.69 5.71
2,500-4,999 250,000-499,999 4.25 100.51 5.68 5.70 5.72
5,000-9,999 500,000-999,999 3.50 99.73 5.72 5.75 5.77
10,000-24,999 1,000,000-2,499,999 3.00 99.22 5.75 5.78 5.80
25,000-49,999 2,500,000-4,999,999 2.50 98.71 5.78 5.81 5.83
50,000 and over 5,000,000 and over 2.00 98.20 5.81 5.84 5.86
</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
Arizona 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............. $ .6115(1) $ 5.6462
-------- $.4704 every month --------
Quarterly Distribution Plan........... $ .6115(1) $ .9462(2) $ 1.4193 $ 1.4193 $ 1.4193 $ 5.6782
Semi-Annual Distribution Plan......... $ .6115(1) $ 2.3730(3) $ 2.8476 $ 5.6972
- ---------------------------------------------------------------------------------------------------------------------------------
<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) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01568 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.6115 per unit for the 39-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 06/01/94 is $.6115 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.
- --------------------------------------------------------------------------------
726
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.3 years.
The first bond is scheduled to mature in July, 2010, with the last bond maturity
being January, 2025.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 224
Estimated Current Return
5.55% to 5.78%
as of 04/21/94
Estimated Long Term Return
5.70% to 5.93%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 196 Monthly Payment Option
67064U 204 Quarterly Payment Option
67064U 212 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 224
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 22, 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 The Regents of the University of California, University of 2003 at 102 AAA Aaa
California Housing System Revenue Bonds, Series A, 5.50%
Due 11/1/18.
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, 5.875% Due 9/1/30.
500,000 City of Stockton (California), Insured Health Facilities 2003 at 102 AAA Aaa
Revenue Bonds (St. Joseph's Medical Center of Stockton),
Series 1993A, 5.50% Due 6/1/23.
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 % $ 95.08 5.55% 5.59% 5.61%
500-999 50,000-99,999 4.75 94.93 5.56 5.60 5.62
1,000-2,499 100,000-249,999 4.50 94.68 5.58 5.61 5.63
2,500-4,999 250,000-499,999 4.25 94.43 5.59 5.63 5.65
5,000-9,999 500,000-999,999 3.50 93.70 5.64 5.67 5.69
10,000-24,999 1,000,000-2,499,999 3.00 93.22 5.66 5.70 5.72
25,000-49,999 2,500,000-4,999,999 2.50 92.74 5.69 5.73 5.75
50,000 and over 5,000,000 and over 2.00 92.27 5.72 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 % $ 95.08 5.70 % 5.74 % 5.75 %
500-999 50,000-99,999 4.75 94.93 5.70 5.74 5.76
1,000-2,499 100,000-249,999 4.50 94.68 5.72 5.76 5.78
2,500-4,999 250,000-499,999 4.25 94.43 5.73 5.77 5.79
5,000-9,999 500,000-999,999 3.50 93.70 5.78 5.82 5.84
10,000-24,999 1,000,000-2,499,999 3.00 93.22 5.81 5.85 5.87
25,000-49,999 2,500,000-4,999,999 2.50 92.74 5.84 5.88 5.90
50,000 and over 5,000,000 and over 2.00 92.27 5.87 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> <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............. $ .5717(1) $ 5.2801
-------- $.4398 every month --------
Quarterly Distribution Plan........... $ .5717(1) $ .8850(2) $ 1.3275 $ 1.3275 $ 1.3275 $ 5.3121
Semi-Annual Distribution Plan......... $ .5717(1) $ 2.2200(3) $ 2.6640 $ 5.3311
- ---------------------------------------------------------------------------------------------------------------------------------
<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) 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 $.01466 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.5717 per unit for the 39-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 06/01/94 is $.5717 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01466 Quarterly - $0.01475
Semi-Annual - $0.01480
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.
- --------------------------------------------------------------------------------
726
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 29.7 years.
The first bond is scheduled to mature in June, 2018, 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
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 216
Estimated Current Return
5.55% to 5.77%
as of 04/21/94
Estimated Long Term Return
5.64% to 5.86%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H5 551 Monthly Payment Option
6706H5 569 Quarterly Payment Option
6706H5 577 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 216
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 22, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 525,000 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.
380,000 New York State Energy Research and Development Authority, 2003 at 102 AAA Aaa
Facilities Refunding Revenue Bonds, Series 1993B
(Consolidated Edison Company of New York, Inc. Project),
5.25% Due 8/15/20.
500,000 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.
440,000 New York State Medical Care, Facilities Finance Agency, 2003 at 102 AAA Aaa
Mental Health Services Facilities Improvement Revenue
Bonds, 1993 Series A, 5.80% Due 8/15/22. (General
Obligation Bonds.)
130,000 New York State Urban Development Corporation, Correctional 2004 at 102 AAA Aaa
Facilities Revenue Bonds, 1993A Refunding Series, 5.50%
Due 1/1/16.
500,000 The City of New York, General Obligation Bonds, Fiscal 1994 2004 at 101 AAA Aaa
Series H, Subseries H-1, 6.125% Due 8/1/09. 1/2
525,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal 1/2
1994 Series F, 5.75% Due 6/15/20.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2002 at 101 AAA Aaa
Bonds, Series 1992A (General Obligation Bonds.), 6.00% Due 1/2
7/1/14.
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.44 5.55% 5.58% 5.60%
500-999 50,000-99,999 4.75 99.29 5.55 5.59 5.61
1,000-2,499 100,000-249,999 4.50 99.03 5.57 5.60 5.62
2,500-4,999 250,000-499,999 4.25 98.77 5.58 5.62 5.63
5,000-9,999 500,000-999,999 3.50 98.00 5.63 5.66 5.68
10,000-24,999 1,000,000-2,499,999 3.00 97.50 5.66 5.69 5.71
25,000-49,999 2,500,000-4,999,999 2.50 96.99 5.69 5.72 5.74
50,000 and over 5,000,000 and over 2.00 96.50 5.71 5.75 5.77
</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 % $ 99.44 5.64 % 5.67 % 5.69 %
500-999 50,000-99,999 4.75 99.29 5.65 5.67 5.69
1,000-2,499 100,000-249,999 4.50 99.03 5.66 5.69 5.71
2,500-4,999 250,000-499,999 4.25 98.77 5.68 5.70 5.72
5,000-9,999 500,000-999,999 3.50 98.00 5.72 5.75 5.77
10,000-24,999 1,000,000-2,499,999 3.00 97.50 5.75 5.78 5.80
25,000-49,999 2,500,000-4,999,999 2.50 96.99 5.78 5.81 5.83
50,000 and over 5,000,000 and over 2.00 96.50 5.81 5.84 5.86
</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> <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............. $ .5970(1) $ 5.5144
-------- $.4593 every month --------
Quarterly Distribution Plan........... $ .5970(1) $ .9240(2) $ 1.3860 $ 1.3860 $ 1.3860 $ 5.5464
Semi-Annual Distribution Plan......... $ .5970(1) $ 2.3175(3) $ 2.7810 $ 5.5654
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<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) 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 $.01531 per unit per day.
Consequently, on the first Record Date (06/01/94), accrued interest will total
$0.5970 per unit for the 39-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 06/01/94 is $.5970 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01531 Quarterly - $0.01540
Semi-Annual - $0.01545
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.
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726
<PAGE>
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AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.4 years.
The first bond is scheduled to mature in August, 2009, with the last bond
maturity being April, 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.
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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
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
