<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 296
(MARYLAND TRADITIONAL TRUST 296)
Estimated Current Return
5.55% to 5.77%
as of 06/29/94
Estimated Long Term Return
5.70% to 5.93%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 589 Monthly Payment Option
67101L 597 Quarterly Payment Option
67101L 605 Semi-Annual Payment Option
Registered in Maryland
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--MARYLAND TRADITIONAL TRUST 296
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 30, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 395,000 Maryland Health and Higher Educational Facilities Authority 2004 at 102 AAA Aaa
Revenue Bonds, Maryland General Hospital Issue, Series
1994, 6.20% Due 7/1/24. (MBIA Insured.)
500,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 AAA Aaa
Project and Refunding Revenue Bonds, Mercy Medical Center
Issue, Series 1993, 5.50% Due 7/1/22. (Original issue
discount bonds delivered on or about February 17, 1993 at
a price of 92.25% of principal amount.)(AMBAC Insured.)
105,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 A A1
Refunding Revenue Bonds, Suburban Hospital Issue, Series
1993, 5.125% Due 7/1/21. (Original issue discount bonds
delivered on or about October 14, 1993 at a price of
94.689% of principal amount.)
500,000 Anne Arundel County, Maryland, Pollution Control Revenue 2004 at 102 A A2
Refunding Bonds (Baltimore Gas and Electric Company
Project), Series 1994, 6.00% Due 4/1/24.
500,000 Montgomery County, Maryland, Pollution Control Revenue 2004 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1994 Series,
5.375% Due 2/15/24.
500,000 Morgan State University, Maryland, Academic Fees and No Optional AAA Aaa
Auxiliary Facilities Fees, Revenue Refunding Bonds, 1993 Call
Series, 6.05% Due 7/1/15. (MBIA Insured.)
500,000 Prince George's County, Maryland, General Obligation, 2003 at 102 AA Aa
Stormwater Management Bonds, Series 1993, 5.50% Due
3/15/13.
500,000 Prince George's County, Maryland, Solid Waste Management 2003 at 102 A A
System Revenue Bonds, Series 1993, 5.25% Due 6/15/13.
(Original issue discount bonds delivered on or about June
30, 1993 at a price of 94.673% 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 % $ 98.17 5.55% 5.58% 5.60%
500-999 50,000-99,999 4.75 98.02 5.56 5.59 5.61
1,000-2,499 100,000-249,999 4.50 97.76 5.57 5.61 5.63
2,500-4,999 250,000-499,999 4.25 97.50 5.59 5.62 5.64
5,000-9,999 500,000-999,999 3.50 96.75 5.63 5.67 5.68
10,000-24,999 1,000,000-2,499,999 3.00 96.25 5.66 5.69 5.71
25,000-49,999 2,500,000-4,999,999 2.50 95.75 5.69 5.72 5.74
50,000 and over 5,000,000 and over 2.00 95.27 5.72 5.75 5.77
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.17 5.70% 5.74% 5.75%
500-999 50,000-99,999 4.75 98.02 5.70 5.74 5.76
1,000-2,499 100,000-249,999 4.50 97.76 5.72 5.76 5.78
2,500-4,999 250,000-499,999 4.25 97.50 5.73 5.77 5.79
5,000-9,999 500,000-999,999 3.50 96.75 5.78 5.82 5.84
10,000-24,999 1,000,000-2,499,999 3.00 96.25 5.81 5.85 5.87
25,000-49,999 2,500,000-4,999,999 2.50 95.75 5.84 5.88 5.90
50,000 and over 5,000,000 and over 2.00 95.27 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
Maryland Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4690(1) $ 5.4490
-------- $.4539 every month --------
Quarterly Distribution Plan........... $ .4690(1) $ 1.3698(2) $ 1.3698 $ 1.3698 $ 5.4810
Semi-Annual Distribution Plan......... $ .4690(1) $ 1.3743(3) $ 2.7486 $ 5.5000
- --------------------------------------------------------------------------------------------------------------------
<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) The second distribution under the semi-annual distribution plan represents a 3-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 $.01513 per unit per day.
Consequently, on the first Record Date (08/01/94), accrued interest will total
$0.4690 per unit for the 31-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 08/01/94 is $.4690 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01513 Quarterly - $0.01522
Semi-Annual - $0.01527
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.
- --------------------------------------------------------------------------------
736
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.1 years.
The first bond is scheduled to mature in March, 2013, with the last bond
maturity being July, 2024.
- -------------------------------------------------
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 40%
AA 14
A1/A+ 17
A 29
---
100%
</TABLE>
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 271
Estimated Current Return
5.83% to 6.06%
as of 06/29/94
Estimated Long Term Return
5.89% to 6.12%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101X 708 Monthly Payment Option
67101X 716 Quarterly Payment Option
67101X 724 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 271
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 30, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 Los Angeles County Transportation Commission (California), 2002 at 102 AAA Aaa
Proposition C Sales Tax Revenue Bonds, Second Senior
Bonds, Series 1992-A, 6.00% Due 7/1/23. (Original issue
discount bonds delivered on or about November 17, 1992 at
a price of 91.172% of principal amount.)
750,000 City of Los Angeles, California, Wastewater System Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994-A, 5.875% Due 6/1/24.
750,000 Illinois Health Facilities Authority Revenue Bonds, Series 2004 at 102 AAA Aaa
1994A (The University of Chicago Hospitals Project),
6.125% Due 8/15/21.
1,000,000 Metropolitan Pier and Exposition Authority (Illinois), 2003 at 102 AAA Aaa
McCormick Place Expansion Project Bonds, Series 1992A,
6.50% Due 6/15/27.
500,000 Massachusetts Bay Transportation Authority, General 2004 at 102 AAA Aaa
Transportation System Bonds, 1994 Series B Bonds, 5.875%
Due 3/1/19. (General Obligation Bonds.)
750,000 New Hampshire Higher Educational and Health Facilities 2004 at 102 AAA Aaa
Authority Revenue Bonds, The Hitchcock Clinic Issue,
Series 1994, 6.00% Due 7/1/24.
750,000 The Pollution Control Financing Authority of Salem County 2004 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds of
1994 Series B (Public Service Electric and Gas Company
Project), 6.25% Due 6/1/31.
750,000 Piedmont Municipal Power Agency (South Carolina), Electric 2003 at 102 AAA Aaa
Revenue Bonds, 1992 Refunding Series, 6.30% Due 1/1/22.
750,000 Municipality of Metropolitan Seattle (Seattle, Washington), 2003 at 102 AAA Aaa
Sewer Revenue Bonds, Series W, 6.30% Due 1/1/33.
750,000 Washington Public Power Supply System, Nuclear Project No. 1 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.70% Due 7/1/17.
----------
$7,500,000
----------
----------
</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 % $ 101.11 5.83% 5.86% 5.88%
500-999 50,000-99,999 4.75 100.96 5.84 5.87 5.89
1,000-2,499 100,000-249,999 4.50 100.69 5.86 5.89 5.91
2,500-4,999 250,000-499,999 4.25 100.43 5.87 5.90 5.92
5,000-9,999 500,000-999,999 3.50 99.65 5.92 5.95 5.97
10,000-24,999 1,000,000-2,499,999 3.00 99.13 5.95 5.98 6.00
25,000-49,999 2,500,000-4,999,999 2.50 98.63 5.98 6.01 6.03
50,000 and over 5,000,000 and over 2.00 98.12 6.01 6.04 6.06
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 101.11 5.89% 5.92% 5.93%
500-999 50,000-99,999 4.75 100.96 5.89 5.92 5.94
1,000-2,499 100,000-249,999 4.50 100.69 5.91 5.94 5.96
2,500-4,999 250,000-499,999 4.25 100.43 5.92 5.95 5.97
5,000-9,999 500,000-999,999 3.50 99.65 5.97 6.00 6.02
10,000-24,999 1,000,000-2,499,999 3.00 99.13 6.00 6.03 6.05
25,000-49,999 2,500,000-4,999,999 2.50 98.63 6.04 6.07 6.08
50,000 and over 5,000,000 and over 2.00 98.12 6.07 6.10 6.12
</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
National Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5077(1) $ 5.8968
-------- $.4914 every month --------
Quarterly Distribution Plan........... $ .5077(1) $ 1.4814(2) $ 1.4814 $ 1.4814 $ 5.9288
Semi-Annual Distribution Plan......... $ .5077(1) $ 1.4868(3) $ 2.9736 $ 5.9478
- --------------------------------------------------------------------------------------------------------------------
<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) The second distribution under the semi-annual distribution plan represents a 3-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 $.13 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 $.01638 per unit per day.
Consequently, on the first Record Date (08/01/94), accrued interest will total
$0.5077 per unit for the 31-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 08/01/94 is $.5077 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01638 Quarterly - $0.01646
Semi-Annual - $0.01652
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 7 states.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 19.4
Illinois 24.3
Massachusetts 6.4
New Hampshire 9.8
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New Jersey 10.2
South Carolina 10.3
Washington 19.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 30.2 years. The first bond is scheduled to mature in July,
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.
736
