<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 297
(MARYLAND TRADITIONAL TRUST 297)
Estimated Current Return
5.53% to 5.75%
as of 08/01/94
Estimated Long Term Return
5.68% to 5.90%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 613 Monthly Payment Option
67101L 621 Quarterly Payment Option
67101L 639 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 297
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 2, 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 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.)
500,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 A A
Project and Refunding Revenue Bonds, Peninsula Regional
Medical Center Issue, Series 1993, 5.00% Due 7/1/23.
(Original issue discount bonds delivered on or about
October 28, 1993 at a price of 93.41% of principal
amount.)
160,000 Maryland Water Quality Financing Administration, Revolving 2003 at 100 AA Aa
Loan Fund Revenue Bonds, Series 1993A, 5.40% Due 9/1/14.
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 Baltimore County Revenue Authority (Maryland), Revenue 2003 at 102 -- A
Refunding Bonds, 1993 Series, 5.375% Due 7/1/13.
500,000 Howard County, Maryland, Mortgage Revenue Refunding Bonds, 2004 at 102 AAA Aaa
Series 1994A (Beech's Farm Apartments Project-FHA Insured
Mortgage Loan), 6.50% Due 7/1/24. (MBIA Insured.)
100,000 Montgomery County, Maryland, Pollution Control Revenue 2004 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1994 Series,
5.375% Due 2/15/24.
285,000 Industrial Development Authority of Prince George's County, 2003 at 102 AAA Aaa
Maryland, Refunding Lease Revenue Bonds (Upper Marlboro
Justice Center Project), Series 1993, 5.25% Due 6/30/19.
(Original issue discount bonds delivered on or about
February 25, 1993 at a price of 91.667% of principal
amount.)(MBIA Insured.)
455,000 Washington Suburban Sanitary District, Maryland, General 2003 at 102 AA Aa1
Construction Refunding Bonds of 1993 (Second Series),
5.25% Due 6/1/15. (General Obligation Bonds.)
----------
$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 % $ 96.72 5.53% 5.56% 5.58%
500-999 50,000-99,999 4.75 96.57 5.54 5.57 5.59
1,000-2,499 100,000-249,999 4.50 96.31 5.55 5.59 5.61
2,500-4,999 250,000-499,999 4.25 96.06 5.57 5.60 5.62
5,000-9,999 500,000-999,999 3.50 95.32 5.61 5.64 5.66
10,000-24,999 1,000,000-2,499,999 3.00 94.82 5.64 5.67 5.69
25,000-49,999 2,500,000-4,999,999 2.50 94.34 5.67 5.70 5.72
50,000 and over 5,000,000 and over 2.00 93.86 5.70 5.73 5.75
</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 % $ 96.72 5.68% 5.71% 5.73%
500-999 50,000-99,999 4.75 96.57 5.68 5.71 5.73
1,000-2,499 100,000-249,999 4.50 96.31 5.70 5.73 5.75
2,500-4,999 250,000-499,999 4.25 96.06 5.71 5.74 5.76
5,000-9,999 500,000-999,999 3.50 95.32 5.76 5.79 5.81
10,000-24,999 1,000,000-2,499,999 3.00 94.82 5.79 5.82 5.84
25,000-49,999 2,500,000-4,999,999 2.50 94.34 5.82 5.85 5.87
50,000 and over 5,000,000 and over 2.00 93.86 5.85 5.88 5.90
</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*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4306(1) $ 5.3481
-------- $.4455 every month --------
Quarterly Distribution Plan........... $ .4306(1) $ .8964(2) $ 1.3446 $ 1.3446 $ 5.3801
Semi-Annual Distribution Plan......... $ .4306(1) $ .8994(3) $ 2.6982 $ 5.3991
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01485 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.4306 per unit for the 29-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 $.4306 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01485 Quarterly - $0.01494
Semi-Annual - $0.01499
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.
- --------------------------------------------------------------------------------
743
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.8 years.
The first bond is scheduled to mature in July, 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>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 37%
AA 18
A1/A+ 3
A 42
---
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.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
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
<PAGE>
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NORTH CAROLINA
TRUST 278
(NORTH CAROLINA TRADITIONAL TRUST 278)
Estimated Current Return
5.60% to 5.83%
as of 08/01/94
Estimated Long Term Return
5.64% to 5.86%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
670958 826 Monthly Payment Option
670958 834 Quarterly Payment Option
670958 842 Semi-Annual Payment Option
Registered in North Carolina
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--NORTH CAROLINA TRADITIONAL TRUST 278
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 2, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 125,000 North Carolina Medical Care Commission Hospital Revenue 2003 at 102 AAA Aaa
Bonds (Alamance Health Services, Inc. Project), Series
1993, 5.50% Due 8/15/24. (FSA 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.
525,000 North Carolina Municipal Power Agency Number 1, Catawba 2003 at 102 AAA Aaa
Electric Revenue Bonds, Series 1992, 6.20% Due 1/1/18.
(FSA Insured.)
500,000 Town of Chapel Hill, North Carolina, Parking Facilities 2003 at 102 A+ A1
Refunding Certificates of Participation, Series 1994,
6.45% Due 12/1/23.
500,000 Certificates of Participation (1994 Hospital and Office 2004 at 102 AA Aa
Facilities Project) County of Durham, North Carolina,
6.00% Due 5/1/17. (When issued.)
500,000 East Carolina University (North Carolina), Student Services 2003 at 102 A A
System Revenue Bonds, Series 1993 of the Board of
Governors of the University of North Carolina, 5.50% Due
5/1/19.
350,000 Orange Water and Sewer Authority (North Carolina), Water and 2003 at 102 AA Aa
Sewer System Revenue and Revenue Refunding Bonds, Series
1993, 5.20% Due 7/1/16.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% 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 % $ 100.47 5.60% 5.64% 5.66%
500-999 50,000-99,999 4.75 100.32 5.61 5.65 5.66
1,000-2,499 100,000-249,999 4.50 100.05 5.63 5.66 5.68
2,500-4,999 250,000-499,999 4.25 99.79 5.64 5.68 5.69
5,000-9,999 500,000-999,999 3.50 99.02 5.69 5.72 5.74
10,000-24,999 1,000,000-2,499,999 3.00 98.51 5.72 5.75 5.77
25,000-49,999 2,500,000-4,999,999 2.50 98.00 5.75 5.78 5.80
50,000 and over 5,000,000 and over 2.00 97.50 5.78 5.81 5.83
</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 % $ 100.47 5.64% 5.67% 5.69%
500-999 50,000-99,999 4.75 100.32 5.65 5.67 5.69
1,000-2,499 100,000-249,999 4.50 100.05 5.66 5.69 5.71
2,500-4,999 250,000-499,999 4.25 99.79 5.68 5.70 5.72
5,000-9,999 500,000-999,999 3.50 99.02 5.72 5.75 5.77
10,000-24,999 1,000,000-2,499,999 3.00 98.51 5.75 5.78 5.80
25,000-49,999 2,500,000-4,999,999 2.50 98.00 5.78 5.81 5.83
50,000 and over 5,000,000 and over 2.00 97.50 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
North Carolina 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............. $ .4535(1) $ 5.6311
-------- $.4692 every month --------
Quarterly Distribution Plan........... $ .4535(1) $ .9438(2) $ 1.4157 $ 1.4157 $ 5.6631
Semi-Annual Distribution Plan......... $ .4535(1) $ .9468(3) $ 2.8404 $ 5.6821
- --------------------------------------------------------------------------------------------------------------------
<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 $.01564 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.4535 per unit for the 29-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 $.4535 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01564 Quarterly - $0.01573
Semi-Annual - $0.01578
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.
- --------------------------------------------------------------------------------
743
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.6 years.
The first bond is scheduled to mature in August, 2015, with the last bond
maturity being August, 2024.
- -------------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------------
<TABLE>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 33%
AA 24
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.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
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
<PAGE>
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 229
Estimated Current Return
5.56% to 5.78%
as of 08/01/94
Estimated Long Term Return
5.67% to 5.89%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 345 Monthly Payment Option
67064U 352 Quarterly Payment Option
67064U 360 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 229
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 2, 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 California Health Facilities Financing Authority, Kaiser 2003 at 102 AAA Aaa
Permanente, Revenue Bonds, 1993 Series C, 5.60% Due
5/1/33.
525,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Certificates of Participation, Sutter Health Obligated
Group, 5.50% Due 8/15/23.
500,000 The City of Los Angeles, California, Wastewater System 2003 at 102 AAA Aaa
Revenue Bonds, Refunding Series 1993-A, 5.80% Due 6/1/21.
450,000 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.
400,000 Transmission Agency of Northern California, 2003 at 102 AAA Aaa
California-Oregon Transmission Project, Revenue Refunding
Bonds, 1993 Series A, 5.25% Due 5/1/20.
500,000 San Diego Regional Building Authority (California), 2003 at 102 AAA Aaa
Refunding Lease Revenue Bonds, Series 1993A (San Miguel
Consolidated Fire Protection District Project), 5.65% Due
1/1/20.
500,000 Airports Commission, City and County of San Francisco, 2003 at 102 AAA Aaa
California, San Francisco International Airport, Second
Series Refunding Revenue Bonds, Issue 4, 6.00% Due 5/1/14.
100,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% 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 % $ 97.65 5.56% 5.59% 5.61%
500-999 50,000-99,999 4.75 97.50 5.57 5.60 5.62
1,000-2,499 100,000-249,999 4.50 97.25 5.58 5.62 5.64
2,500-4,999 250,000-499,999 4.25 96.99 5.60 5.63 5.65
5,000-9,999 500,000-999,999 3.50 96.24 5.64 5.68 5.69
10,000-24,999 1,000,000-2,499,999 3.00 95.74 5.67 5.70 5.72
25,000-49,999 2,500,000-4,999,999 2.50 95.25 5.70 5.73 5.75
50,000 and over 5,000,000 and over 2.00 94.77 5.73 5.76 5.78
</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 % $ 97.65 5.67% 5.70% 5.72%
500-999 50,000-99,999 4.75 97.50 5.67 5.70 5.72
1,000-2,499 100,000-249,999 4.50 97.25 5.69 5.72 5.74
2,500-4,999 250,000-499,999 4.25 96.99 5.70 5.73 5.75
5,000-9,999 500,000-999,999 3.50 96.24 5.75 5.78 5.80
10,000-24,999 1,000,000-2,499,999 3.00 95.74 5.78 5.81 5.83
25,000-49,999 2,500,000-4,999,999 2.50 95.25 5.81 5.84 5.86
50,000 and over 5,000,000 and over 2.00 94.77 5.84 5.87 5.89
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
California Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4373(1) $ 5.4297
-------- $.4524 every month --------
Quarterly Distribution Plan........... $ .4373(1) $ .9102(2) $ 1.3653 $ 1.3653 $ 5.4617
Semi-Annual Distribution Plan......... $ .4373(1) $ .9132(3) $ 2.7396 $ 5.4807
- --------------------------------------------------------------------------------------------------------------------
<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 $.01508 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.4373 per unit for the 29-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 $.4373 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01508 Quarterly - $0.01517
Semi-Annual - $0.01522
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.
- --------------------------------------------------------------------------------
743
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.8 years.
The first bond is scheduled to mature in May, 2014, with the last bond maturity
being May, 2033.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* 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
<PAGE>
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 220
Estimated Current Return
5.62% to 5.84%
as of 08/01/94
Estimated Long Term Return
5.64% to 5.87%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H5 676 Monthly Payment Option
6706H5 684 Quarterly Payment Option
6706H5 692 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 220
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 2, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Dormitory Authority of the State of New York, University of 2004 at 102 AAA Aaa
Rochester, Strong Memorial Hospital Revenue Bonds, Series
1994, 5.90% Due 7/1/17.
510,000 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.
450,000 New York State Housing Finance Agency, Service Contract 2004 at 102 AAA Aaa
Obligation Revenue Bonds, 1994 Series A, 6.375% Due
9/15/16. (General Obligation Bonds.) (When issued.)
400,000 New York Local Government Assistance Corporation (A Public 2004 at 100 AAA Aaa
Benefit Corporation of the State of New York), Series
1993D Bonds, 5.00% Due 4/1/23. (Original issue discount
bonds delivered on or about December 23, 1993 at a price
of 93.441% of principal amount.)
140,000 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 (New York), General Obligation Bonds, 2002 at 101 AAA Aaa
Fiscal 1993 Series A, 6.25% Due 8/1/21. 1/2
500,000 Metropolitan Transportation Authority, New York, Commuter 2004 at 101 AAA Aaa
Facilities Revenue Bonds, Series 1994A, 6.50% Due 7/1/24. 1/2
500,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal
1994 Series B, 5.50% Due 6/15/19.
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 101.67 5.62% 5.65% 5.67%
500-999 50,000-99,999 4.75 101.51 5.63 5.66 5.68
1,000-2,499 100,000-249,999 4.50 101.25 5.64 5.67 5.69
2,500-4,999 250,000-499,999 4.25 100.98 5.66 5.69 5.71
5,000-9,999 500,000-999,999 3.50 100.20 5.70 5.73 5.75
10,000-24,999 1,000,000-2,499,999 3.00 99.68 5.73 5.76 5.78
25,000-49,999 2,500,000-4,999,999 2.50 99.17 5.76 5.79 5.81
50,000 and over 5,000,000 and over 2.00 98.66 5.79 5.82 5.84
</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 % $ 101.67 5.64% 5.68% 5.70%
500-999 50,000-99,999 4.75 101.51 5.65 5.68 5.70
1,000-2,499 100,000-249,999 4.50 101.25 5.66 5.70 5.72
2,500-4,999 250,000-499,999 4.25 100.98 5.68 5.71 5.73
5,000-9,999 500,000-999,999 3.50 100.20 5.72 5.76 5.78
10,000-24,999 1,000,000-2,499,999 3.00 99.68 5.75 5.79 5.81
25,000-49,999 2,500,000-4,999,999 2.50 99.17 5.78 5.82 5.84
50,000 and over 5,000,000 and over 2.00 98.66 5.81 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
New York 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............. $ .4599(1) $ 5.7118
-------- $.4758 every month --------
Quarterly Distribution Plan........... $ .4599(1) $ .9570(2) $ 1.4355 $ 1.4355 $ 5.7438
Semi-Annual Distribution Plan......... $ .4599(1) $ .9600(3) $ 2.8800 $ 5.7628
- --------------------------------------------------------------------------------------------------------------------
<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 $.01586 per unit per day.
Consequently, on the first Record Date (09/01/94), accrued interest will total
$0.4599 per unit for the 29-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 $.4599 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01586 Quarterly - $0.01595
Semi-Annual - $0.01600
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.
- --------------------------------------------------------------------------------
743
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.7 years.
The first bond is scheduled to mature in January, 2016, with the last bond
maturity being April, 2034.
- -------------------------------------------------------
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.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* 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
<PAGE>
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
