<PAGE>
NUVEEN Tax-Exempt Unit Trusts
Nuveen
National
Trust 532
(National Traditional Trust 532)
Estimated Current Return
5.88% to 6.11%
as of 07/18/94
Estimated Long Term Return
5.93% to 6.16%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds
Cusip:
67101E 858 Monthly Payment Option
67101E 866 Quarterly Payment Option
67101E 874 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--NATIONAL TRADITIONAL TRUST 532
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 19, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 550,000 State Public Works Board of the State of California, Lease 2003 at 102 A Con(A1)
Revenue Refunding Bonds (The Regents of the University of
California), 1993 Series A (Various University of
California Projects), 5.50% Due 6/1/21.
550,000 County of San Joaquin, California, Certificates of 2004 at 102 A --
Participation (1994 Solid Waste System Facilities
Project), 6.60% Due 4/1/19. (When issued.)
550,000 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. (MBIA Insured.)
550,000 Fulco Hospital Authority, Revenue Anticipation Certificates 2002 at 102 -- A
(Georgia Baptist Health Care System Project), Series
1992A, 6.375% Due 9/1/22.
440,000 Village of Bryant, Illinois, Pollution Control Refunding 2003 at 102 AA Aa2
Revenue Bonds (Central Illinois Light Company Project),
Series 1993, 5.90% Due 8/1/23.
550,000 Illinois Educational Facilities Authority, Revenue Bonds, 2003 at 102 A A1
Illinois Wesleyan University, Series 1993, 5.625% Due
9/1/18.
550,000 Illinois Health Facilities Authority Revenue Refunding 2003 at 102 A- A
Bonds, Series 1993 (Illinois Masonic Medical Center),
5.50% Due 10/1/19. (Original issue discount bonds
delivered on or about November 18, 1993 at a price of
94.719% of principal amount.)
550,000 The Indianapolis Local Public Improvement Bond Bank 2003 at 102 A+ --
(Indiana), Series 1992 D Bonds, 6.75% Due 2/1/20.
550,000 City of Council Bluffs, Iowa, Pollution Control Refunding 2003 at 102 AAA Aaa
Revenue Bonds (Midwest Power Systems Inc. Project), Series
1993, 5.95% Due 5/1/23. (MBIA Insured.)
270,000 Montgomery County, Maryland, Pollution Control Revenue 2004 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1994 Series,
5.375% Due 2/15/24.
240,000 Massachusetts Bay Transportation Authority, General 2004 at 102 A+ A
Transportation System Bonds, 1994 Series B Bonds, 5.875%
Due 3/1/19. (General Obligation Bonds.)
550,000 Medical Center Educational Building Corporation 2004 at 102 A- --
(Mississippi), Revenue Bonds, Series 1993 (University of
Mississippi Medical Center Project), 5.80% Due 12/1/14.
550,000 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. (MBIA Insured.)
550,000 New York State Energy Research and Development Authority, 2004 at 102 AAA Aaa
Pollution Control Refunding Revenue Bonds (New York State
Electric & Gas Corporation Project), 1994 Series A, 6.05%
Due 4/1/34. (MBIA Insured.)
500,000 North Carolina Medical Care Commission, Hospital Revenue 2002 at 102 A- --
Refunding Bonds (Mercy Hospital Project), Series 1992,
6.50% Due 8/1/15.
----------
$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 % $ 98.87 5.88% 5.91% 5.93%
500-999 50,000-99,999 4.75 98.72 5.89 5.92 5.94
1,000-2,499 100,000-249,999 4.50 98.46 5.90 5.93 5.95
2,500-4,999 250,000-499,999 4.25 98.20 5.92 5.95 5.97
5,000-9,999 500,000-999,999 3.50 97.44 5.96 6.00 6.02
10,000-24,999 1,000,000-2,499,999 3.00 96.94 5.99 6.03 6.05
25,000-49,999 2,500,000-4,999,999 2.50 96.44 6.02 6.06 6.08
50,000 and over 5,000,000 and over 2.00 95.95 6.06 6.09 6.11
</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 % $ 98.87 5.93% 5.96% 5.98%
500-999 50,000-99,999 4.75 98.72 5.94 5.97 5.99
1,000-2,499 100,000-249,999 4.50 98.46 5.96 5.99 6.01
2,500-4,999 250,000-499,999 4.25 98.20 5.97 6.00 6.02
5,000-9,999 500,000-999,999 3.50 97.44 6.02 6.05 6.07
10,000-24,999 1,000,000-2,499,999 3.00 96.94 6.05 6.08 6.10
25,000-49,999 2,500,000-4,999,999 2.50 96.44 6.08 6.11 6.13
50,000 and over 5,000,000 and over 2.00 95.95 6.12 6.15 6.16
</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 Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6774(1) $ 5.8100
-------- $.4839 every month --------
Quarterly Distribution Plan........... $ .6774(1) $ .9732(2) $ 1.4598 $ 1.4598 $ 5.8420
Semi-Annual Distribution Plan......... $ .6774(1) $ .9768(3) $ 2.9304 $ 5.8610
- --------------------------------------------------------------------------------------------------------------------
<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 2-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 $.01613 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.6774 per unit for the 42-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 09/01/94 is $.6774 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01613 Quarterly - $0.01622
Semi-Annual - $0.01628
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 15 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 11 states.
- -------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 21.9
Georgia 7.8
Iowa 7.2
Illinois 19.3
Indiana 8.2
Massachusetts 3.1
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Maryland 3.2
Mississippi 7.1
North Carolina 7.2
New Jersey 7.6
New York 7.4
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE
The average maturity of portfolio bonds is 28.2 years. The first bond is
scheduled to mature in December, 2014, with the last bond maturity being April,
2034.
- -------------------------------------------------
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 29%
AA 6
A1/A+ 29
A 36
---
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.
- -------------------------------------------------
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.
740
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 289
(VIRGINIA TRADITIONAL TRUST 289)
Estimated Current Return
5.69% to 5.91%
as of 07/18/94
Estimated Long Term Return
5.78% to 6.02%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 374 Monthly Payment Option
6706L5 382 Quarterly Payment Option
6706L5 390 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 289
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 19, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 400,000 Virginia Public School Authority, School Financing Bonds, 2004 at 102 AA Aa
Series 1994 A, 6.20% Due 8/1/13.
500,000 Industrial Development Authority of Albemarle County, 2003 at 102 -- A
Virginia, Hospital Refunding Revenue Bonds (Martha
Jefferson Hospital), Series 1993, 5.50% Due 10/1/20.
(Original issue discount bonds delivered on or about July
1, 1993 at a price of 93.313% of principal amount.)
500,000 City of Chesapeake, Virginia, Water and Sewer System Revenue 2004 at 102 A+ A
Refunding Bonds, Series of 1994, 5.125% Due 5/1/21.
500,000 Industrial Development Authority of the Town of Louisa, 2004 at 102 A A2
Virginia, Pollution Control Revenue Bonds (Virginia
Electric and Power Company Project), Series 1994, 5.45%
Due 1/1/24.
500,000 Peninsula Ports Authority of Virginia, Health System Revenue 2002 at 102 AA- Aa
and Refunding Bonds (Riverside Health System Project),
Series 1992-A, 6.625% Due 7/1/18.
500,000 City of Richmond, Virginia, General Obligation Public 2003 at 102 AA A1
Improvement Refunding Bonds, Series 1993A, 5.50% Due
1/15/22.
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.)
100,000 Industrial Development Authority of the City of Roanoke, 2003 at 102 AAA Aaa
Virginia, Hospital Revenue Refunding Bonds (Roanoke
Memorial Hospitals, Community Hospital of Roanoke Valley,
Franklin Memorial Hospital and Saint Albans Psychiatric
Hospital Project) Series 1993A, 5.25% Due 7/1/25.
(Original issue discount bonds delivered on or about May
20, 1993 at a price of 94.096% of principal amount.)(MBIA
Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 97.74 5.69% 5.72% 5.74%
500-999 50,000-99,999 4.75 97.59 5.70 5.73 5.75
1,000-2,499 100,000-249,999 4.50 97.33 5.71 5.74 5.76
2,500-4,999 250,000-499,999 4.25 97.08 5.73 5.76 5.78
5,000-9,999 500,000-999,999 3.50 96.32 5.77 5.80 5.82
10,000-24,999 1,000,000-2,499,999 3.00 95.83 5.80 5.83 5.85
25,000-49,999 2,500,000-4,999,999 2.50 95.33 5.83 5.86 5.88
50,000 and over 5,000,000 and over 2.00 94.85 5.86 5.89 5.91
</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 % $ 97.74 5.78% 5.82% 5.84%
500-999 50,000-99,999 4.75 97.59 5.79 5.83 5.85
1,000-2,499 100,000-249,999 4.50 97.33 5.81 5.85 5.86
2,500-4,999 250,000-499,999 4.25 97.08 5.82 5.86 5.88
5,000-9,999 500,000-999,999 3.50 96.32 5.87 5.91 5.93
10,000-24,999 1,000,000-2,499,999 3.00 95.83 5.90 5.94 5.96
25,000-49,999 2,500,000-4,999,999 2.50 95.33 5.93 5.97 5.99
50,000 and over 5,000,000 and over 2.00 94.85 5.96 6.00 6.02
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Virginia Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6484(1) $ 5.5584
-------- $.4632 every month --------
Quarterly Distribution Plan........... $ .6484(1) $ .9312(2) $ 1.3968 $ 1.3968 $ 5.5904
Semi-Annual Distribution Plan......... $ .6484(1) $ .9348(3) $ 2.8044 $ 5.6094
- --------------------------------------------------------------------------------------------------------------------
<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 2-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 $.01544 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.6484 per unit for the 42-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 09/01/94 is $.6484 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01544 Quarterly - $0.01552
Semi-Annual - $0.01558
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.
- --------------------------------------------------------------------------------
740
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.2 years.
The first bond is scheduled to mature in August, 2013, with the last bond
maturity being July, 2025.
- -------------------------------------------------
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 17%
AA 40
A1/A+ 14
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
GEORGIA
INSURED
TRUST 38
Estimated Current Return
5.59% to 5.81%
as of 07/18/94
Estimated Long Term Return
5.65% to 5.87%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101M 439 Monthly Payment Option
67101M 447 Quarterly Payment Option
67101M 454 Semi-Annual Payment Option
Registered in Georgia
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, GEORGIA INSURED TRUST 38
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 19, 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 Municipal Electric Authority of Georgia, Power Revenue 2004 at 102 AAA Aaa
Bonds, Series EE, 6.00% Due 1/1/22. (Original issue
discount bonds delivered on or about June 1, 1994 at a
price of 93.861% of principal amount.)
500,000 Cherokee County (Georgia), Water and Sewerage Authority, No Optional AAA Aaa
Water and Sewerage Revenue Bonds, Refunding and Call
Improvements Series 1993, 5.50% Due 8/1/23.
500,000 Housing Authority of Cobb County (Georgia), Multifamily 2004 at 102 AAA Aaa
Mortgage Revenue Refunding Bonds, Series 1994A (FHA
Insured Mortgage Loan-Garrison Plantation Development),
5.90% Due 7/1/26.
500,000 Cobb-Marietta Coliseum and Exhibit Hall Authority (Georgia), No Optional AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.50% Due 10/1/18. Call
500,000 The Fulton-DeKalb Hospital Authority (Georgia), Revenue 2003 at 102 AAA Aaa
Refunding Certificates, Series 1993, 5.50% Due 1/1/20.
(Original issue discount bonds delivered on or about June
15, 1993 at a price of 94.499% of principal
amount.)(General Obligation Bonds.)
500,000 Jackson County School District (Georgia), General Obligation 2004 at 102 AAA Aaa
School Bonds, Series 1994, 6.00% Due 7/1/14.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 1/2
----------
$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 % $ 100.57 5.59% 5.62% 5.64%
500-999 50,000-99,999 4.75 100.41 5.60 5.63 5.65
1,000-2,499 100,000-249,999 4.50 100.15 5.61 5.64 5.66
2,500-4,999 250,000-499,999 4.25 99.89 5.63 5.66 5.68
5,000-9,999 500,000-999,999 3.50 99.11 5.67 5.70 5.72
10,000-24,999 1,000,000-2,499,999 3.00 98.60 5.70 5.73 5.75
25,000-49,999 2,500,000-4,999,999 2.50 98.09 5.73 5.76 5.78
50,000 and over 5,000,000 and over 2.00 97.59 5.76 5.79 5.81
</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 % $ 100.57 5.65% 5.68% 5.70%
500-999 50,000-99,999 4.75 100.41 5.66 5.68 5.70
1,000-2,499 100,000-249,999 4.50 100.15 5.67 5.70 5.72
2,500-4,999 250,000-499,999 4.25 99.89 5.69 5.71 5.73
5,000-9,999 500,000-999,999 3.50 99.11 5.73 5.76 5.78
10,000-24,999 1,000,000-2,499,999 3.00 98.60 5.76 5.79 5.81
25,000-49,999 2,500,000-4,999,999 2.50 98.09 5.79 5.82 5.84
50,000 and over 5,000,000 and over 2.00 97.59 5.82 5.85 5.87
</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
Georgia Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6552(1) $ 5.6190
-------- $.4680 every month --------
Quarterly Distribution Plan........... $ .6552(1) $ .9414(2) $ 1.4121 $ 1.4121 $ 5.6510
Semi-Annual Distribution Plan......... $ .6552(1) $ .9444(3) $ 2.8332 $ 5.6700
- --------------------------------------------------------------------------------------------------------------------
<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 2-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 $.01560 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.6552 per unit for the 42-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 09/01/94 is $.6552 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01560 Quarterly - $0.01569
Semi-Annual - $0.01574
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.
- --------------------------------------------------------------------------------
740
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.7 years.
The first bond is scheduled to mature in July, 2014, with the last bond maturity
being July, 2026.
- -------------------------------------------------
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
OHIO
INSURED
TRUST 116
Estimated Current Return
5.51% to 5.73%
as of 07/18/94
Estimated Long Term Return
5.60% to 5.82%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 433 Monthly Payment Option
67101Y 441 Quarterly Payment Option
67101Y 458 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 116
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 19, 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 Water Development Authority, State Of Ohio, 2004 at 102 AAA Aaa
Collateralized Water Development Revenue Refunding Bonds,
1994 Series A (The Cincinnati Gas & Electric Company
Project), 5.45% Due 1/1/24.
500,000 Big Walnut Local School District, Delaware County, Ohio, 2003 at 102 AAA Aaa
1993 Refunding Bonds (General Obligation-Unlimited Tax),
5.70% Due 6/1/14.
500,000 Hamilton County, Ohio, Sewer System Improvement and 2003 at 100 AAA Aaa
Refunding Revenue Bonds, 1993 Series A (The Metropolitan
Sewer District of Greater Cincinnati), 5.25% Due 12/1/16.
(Original issue discount bonds delivered on or about May
4, 1993 at a price of 94.75% of principal amount.)
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 City of Marysville, Ohio, Water System Mortgage Revenue 2003 at 101 AAA Aaa
Refunding Bonds, Series 1993, 5.50% Due 12/1/18.
500,000 North Royalton City School District, Ohio, School 2004 at 102 AAA Aaa
Improvement Bonds, Series 1994, 6.10% Due 12/1/19.
(General Obligation Bonds.) (When issued.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 1/2
----------
$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 % $ 99.43 5.51% 5.54% 5.56%
500-999 50,000-99,999 4.75 99.28 5.52 5.55 5.57
1,000-2,499 100,000-249,999 4.50 99.02 5.53 5.56 5.58
2,500-4,999 250,000-499,999 4.25 98.76 5.55 5.58 5.60
5,000-9,999 500,000-999,999 3.50 97.99 5.59 5.62 5.64
10,000-24,999 1,000,000-2,499,999 3.00 97.48 5.62 5.65 5.67
25,000-49,999 2,500,000-4,999,999 2.50 96.98 5.65 5.68 5.70
50,000 and over 5,000,000 and over 2.00 96.49 5.68 5.71 5.73
</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 % $ 99.43 5.60% 5.63% 5.65%
500-999 50,000-99,999 4.75 99.28 5.61 5.64 5.66
1,000-2,499 100,000-249,999 4.50 99.02 5.63 5.65 5.67
2,500-4,999 250,000-499,999 4.25 98.76 5.64 5.67 5.69
5,000-9,999 500,000-999,999 3.50 97.99 5.68 5.71 5.73
10,000-24,999 1,000,000-2,499,999 3.00 97.48 5.71 5.74 5.76
25,000-49,999 2,500,000-4,999,999 2.50 96.98 5.74 5.77 5.79
50,000 and over 5,000,000 and over 2.00 96.49 5.77 5.80 5.82
</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*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6388(1) $ 5.4766
-------- $.4563 every month --------
Quarterly Distribution Plan........... $ .6388(1) $ .9180(2) $ 1.3770 $ 1.3770 $ 5.5086
Semi-Annual Distribution Plan......... $ .6388(1) $ .9210(3) $ 2.7630 $ 5.5276
- --------------------------------------------------------------------------------------------------------------------
<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 2-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 $.01521 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.6388 per unit for the 42-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 09/01/94 is $.6388 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01521 Quarterly - $0.01530
Semi-Annual - $0.01535
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.
- --------------------------------------------------------------------------------
740
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.8 years.
The first bond is scheduled to mature in June, 2014, 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
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
