<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 298
(MARYLAND TRADITIONAL TRUST 298)
Estimated Current Return
5.60% to 5.83%
as of 08/18/94
Estimated Long Term Return
5.69% to 5.91%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 647 Monthly Payment Option
67101L 654 Quarterly Payment Option
67101L 662 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 298
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 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>
--------------------------------------------------------------------------------------------------------------------------
$ 105,000 Community Development Administration, Department of Housing 2003 at 102 AAA Aaa
and Community Development, State of Maryland, Multi-Family
Housing Revenue Bonds (Insured Mortgage Loans), 1993
Series D, 6.05% Due 5/15/24. (MBIA Insured.)
495,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 100 AAA Aaa
Project and Refunding Revenue Bonds, Baltimore County
General Hospital Issue, Series 1993 (Northwest Hospital
Center, Inc.), 5.25% Due 7/1/13. (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.)
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 City of Baltimore, Maryland (Mayor and City Council of 2004 at 100 AAA Aaa
Baltimore), Convention Center Revenue Bonds, Series 1994,
6.15% Due 9/1/19. (When issued.) (FGIC Insured.)
500,000 Mayor and City Council of Baltimore (Maryland), Project 2002 at 102 AAA Aaa
Revenue Bonds (Baltimore City Parking System Facilities),
Series 1992A, 6.25% Due 7/1/21. (FGIC Insured.)
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.)
400,000 Washington Suburban Sanitary District, Maryland, Water 2004 at 102 AA Aa1
Supply Bonds of 1994, 5.50% Due 6/1/13. (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 % $ 100.03 5.60% 5.63% 5.65%
500-999 50,000-99,999 4.75 99.87 5.61 5.64 5.66
1,000-2,499 100,000-249,999 4.50 99.61 5.63 5.66 5.68
2,500-4,999 250,000-499,999 4.25 99.35 5.64 5.67 5.69
5,000-9,999 500,000-999,999 3.50 98.58 5.68 5.72 5.74
10,000-24,999 1,000,000-2,499,999 3.00 98.07 5.71 5.75 5.77
25,000-49,999 2,500,000-4,999,999 2.50 97.57 5.74 5.78 5.80
50,000 and over 5,000,000 and over 2.00 97.07 5.77 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 % $ 100.03 5.69% 5.72% 5.74%
500-999 50,000-99,999 4.75 99.87 5.69 5.72 5.74
1,000-2,499 100,000-249,999 4.50 99.61 5.71 5.74 5.76
2,500-4,999 250,000-499,999 4.25 99.35 5.72 5.75 5.77
5,000-9,999 500,000-999,999 3.50 98.58 5.77 5.80 5.82
10,000-24,999 1,000,000-2,499,999 3.00 98.07 5.80 5.83 5.85
25,000-49,999 2,500,000-4,999,999 2.50 97.57 5.83 5.86 5.88
50,000 and over 5,000,000 and over 2.00 97.07 5.86 5.89 5.91
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Maryland Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6535(1) $ 5.6036
-------- $.4668 every month --------
Quarterly Distribution Plan........... $ .6535(1) $ .4695(2) $ 1.4085 $ 1.4085 $ 5.6356
Semi-Annual Distribution Plan......... $ .6535(1) $ .4710(3) $ 2.8260 $ 5.6546
- --------------------------------------------------------------------------------------------------------------------
<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 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01556 per unit per day.
Consequently, on the first Record Date (10/01/94), accrued interest will total
$0.6535 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 10/01/94 is $.6535 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01556 Quarterly - $0.01565
Semi-Annual - $0.01570
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.
- --------------------------------------------------------------------------------
747
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.7 years.
The first bond is scheduled to mature in June, 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 60%
AA 11
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
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
SHORT INTERMEDIATE
INSURED
TRUST 34
Estimated Current Return
First
Year: 4.48% to 4.60%
Subsequent
Years: 4.50% to 4.62%
as of 08/18/94
Estimated Long Term Return
4.59% to 4.71%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 312 Monthly Payment Option
6710A0 320 Quarterly Payment Option
6710A0 338 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, SHORT INTERMEDIATE INSURED TRUST 34
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 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>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 California State Various Purpose General Obligation Bonds, No Optional AAA Aaa
5.00% Due 8/1/99. (When issued.) Call
750,000 Castaic Lake Water Agency (California), Refunding Revenue No Optional AAA Aaa
Certificates of Participation (Water System Improvement Call
Projects), Series 1994A, 5.00% Due 8/1/99. (When issued.)
750,000 City of Tampa, Florida, Allegany Health System Revenue No Optional AAA Aaa
Bonds, St. Joseph's Hospital, Inc. Issue, Series 1993, Call
4.15% Due 12/1/99.
125,000 The Illinois State Toll Highway Authority, Toll Highway No Optional AAA Aaa
Refunding Revenue Bonds, 1993 Series A, 4.50% Due 1/1/00. Call
750,000 Carmel High School Building Corporation (Indiana), First No Optional AAA Aaa
Mortgage Refunding Bonds, Series 1994, 4.15% Due 1/15/99. Call
(General Obligation Bonds.)
665,000 Massachusetts Bay Transportation Authority, General No Optional AAA Aaa
Transportation System Bonds, 1993 Series A Refunding, Call
4.75% Due 3/1/00. (General Obligation Bonds.)
500,000 The Commonwealth of Massachusetts, General Obligation Bonds, No Optional AAA Aaa
Consolidated Loan of 1994, Series B, 5.00% Due 8/1/99. Call
210,000 County of Churchill, Nevada, Health Care Facilities Revenue No Optional AAA Aaa
Bonds (Western Health Network, Inc.), Series 1994A, 5.00% Call
Due 1/1/99. (When issued.)
750,000 Town of Islip, Suffolk County, New York, Public Improvement No Optional AAA Aaa
Bonds, 1994, 5.30% Due 8/15/99. (General Obligation Call
Bonds.) (When issued.)
750,000 The City of New York (New York), General Obligation Bonds, No Optional AAA Aaa
Fiscal 1995 Series A, 5.25% Due 8/1/99. Call
750,000 State of Ohio, Water Development Revenue Refunding Bonds, No Optional AAA Aaa
1992 Clean Water Series, 5.00% Due 12/1/99. Call
750,000 The School District of Philadelphia, Pennsylvania, General No Optional AAA Aaa
Obligation Refunding Bonds, Series A of 1993, 4.70% Due Call
7/1/99.
----------
$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> <C> <C> <C>
50-499 $5,000-$49,999 3.00 % $ 102.62 (4.48%) 4.50% (4.51%) 4.53% (4.53%) 4.55%
500-999 50,000-99,999 2.80 102.41 (4.49) 4.51 (4.52) 4.54 (4.54) 4.56
1,000-2,499 100,000-249,999 2.60 102.20 (4.50) 4.52 (4.53) 4.55 (4.55) 4.57
2,500-4,999 250,000-499,999 2.35 101.94 (4.51) 4.53 (4.54) 4.56 (4.56) 4.58
5,000-9,999 500,000-999,999 2.10 101.68 (4.52) 4.54 (4.55) 4.58 (4.57) 4.59
10,000-24,999 1,000,000-2,499,999 1.85 101.42 (4.53) 4.56 (4.56) 4.59 (4.58) 4.61
25,000-49,999 2,500,000-4,999,999 1.80 101.36 (4.54) 4.56 (4.57) 4.59 (4.59) 4.61
50,000 and over 5,000,000 and over 1.50 101.06 (4.55) 4.57 (4.58) 4.60 (4.60) 4.62
</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 3.00 % $ 102.62 4.59% 4.62% 4.64%
500-999 50,000-99,999 2.80 102.41 4.60 4.63 4.65
1,000-2,499 100,000-249,999 2.60 102.20 4.61 4.64 4.66
2,500-4,999 250,000-499,999 2.35 101.94 4.62 4.65 4.67
5,000-9,999 500,000-999,999 2.10 101.68 4.63 4.66 4.68
10,000-24,999 1,000,000-2,499,999 1.85 101.42 4.64 4.67 4.69
25,000-49,999 2,500,000-4,999,999 1.80 101.36 4.65 4.67 4.69
50,000 and over 5,000,000 and over 1.50 101.06 4.66 4.69 4.71
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Short Intermediate Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5388(1) $ 4.6202
-------- $.3849 every month --------
Quarterly Distribution Plan........... $ .5388(1) $ .3876(2) $ 1.1628 $ 1.1628 $ 4.6522
Semi-Annual Distribution Plan......... $ .5388(1) $ .3891(3) $ 2.3346 $ 4.6712
- --------------------------------------------------------------------------------------------------------------------
<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 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01283 per unit per day.
Consequently, on the first Record Date (10/01/94), accrued interest will total
$0.5388 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 10/01/94 is $.5388 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01283 Quarterly - $0.01292
Semi-Annual - $0.01297
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 12 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 9 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 20.7
Florida 8.6
Illinois 1.6
Indiana 8.6
Massachusetts 15.6
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Nevada 2.9
New York 21.9
Ohio 10.4
Pennsylvania 9.7
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 5.0 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
1999................................. 6,710 89.5%
2000................................. 790 10.5
</TABLE>
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
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
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
747
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 230
Estimated Current Return
First
Year: 5.62% to 5.85%
Subsequent
Years: 5.65% to 5.87%
as of 08/18/94
Estimated Long Term Return
5.72% to 5.94%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 378 Monthly Payment Option
67064U 386 Quarterly Payment Option
67064U 394 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 230
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 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>
--------------------------------------------------------------------------------------------------------------------------
$ 515,000 California Health Facilities Financing Authority, Kaiser 2003 at 102 AAA Aaa
Permanente, Revenue Bonds, 1993 Series C, 5.60% Due
5/1/33.
500,000 State Public Works Board of the State of California, Lease 2004 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1993 Series E
(California State Prison-Madera County II), 5.50% Due
6/1/19.
510,000 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 Castaic Lake Water Agency (California), Refunding Revenue 2004 at 102 AAA Aaa
Certificates of Participation (Water System Improvement
Projects), Series 1994A, 6.30% Due 8/1/20. (When issued.)
425,000 Los Angeles County Metropolitan Transportation Authority 2003 at 102 AAA Aaa
(California), Proposition A, Sales Tax Revenue Refunding
Bonds, Series 1993-A, 5.625% Due 7/1/18.
525,000 Sacramento Municipal Utility District (California), Electric 2004 at 102 AAA Aaa
Revenue Bonds, 1994 Series I, 6.00% Due 1/1/24. (When
issued.)
525,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.45% Due 7/1/17. 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.67 (5.62%) 5.65% (5.66%) 5.68% (5.68%) 5.70%
500-999 50,000-99,999 4.75 99.52 (5.63) 5.66 (5.67) 5.69 (5.68) 5.71
1,000-2,499 100,000-249,999 4.50 99.26 (5.65) 5.67 (5.68) 5.70 (5.70) 5.72
2,500-4,999 250,000-499,999 4.25 99.00 (5.66) 5.69 (5.70) 5.72 (5.71) 5.74
5,000-9,999 500,000-999,999 3.50 98.23 (5.71) 5.73 (5.74) 5.76 (5.76) 5.78
10,000-24,999 1,000,000-2,499,999 3.00 97.72 (5.74) 5.76 (5.77) 5.79 (5.79) 5.81
25,000-49,999 2,500,000-4,999,999 2.50 97.22 (5.77) 5.79 (5.80) 5.82 (5.82) 5.84
50,000 and over 5,000,000 and over 2.00 96.72 (5.80) 5.82 (5.83) 5.85 (5.85) 5.87
</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 % $ 99.67 5.72% 5.74% 5.76%
500-999 50,000-99,999 4.75 99.52 5.72 5.75 5.77
1,000-2,499 100,000-249,999 4.50 99.26 5.74 5.77 5.79
2,500-4,999 250,000-499,999 4.25 99.00 5.75 5.78 5.80
5,000-9,999 500,000-999,999 3.50 98.23 5.80 5.83 5.85
10,000-24,999 1,000,000-2,499,999 3.00 97.72 5.83 5.86 5.88
25,000-49,999 2,500,000-4,999,999 2.50 97.22 5.86 5.89 5.91
50,000 and over 5,000,000 and over 2.00 96.72 5.89 5.92 5.94
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
California Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6568(1) $ 5.6306
-------- $.4692 every month --------
Quarterly Distribution Plan........... $ .6568(1) $ .4716(2) $ 1.4148 $ 1.4148 $ 5.6626
Semi-Annual Distribution Plan......... $ .6568(1) $ .4734(3) $ 2.8404 $ 5.6816
- --------------------------------------------------------------------------------------------------------------------
<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 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 (10/01/94), accrued interest will total
$0.6568 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 10/01/94 is $.6568 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01564 Quarterly - $0.01572
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.
- --------------------------------------------------------------------------------
747
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.9 years.
The first bond is scheduled to mature in July, 2017, 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
FLORIDA
INSURED
TRUST 195
Estimated Current Return
5.54% to 5.76%
as of 08/18/94
Estimated Long Term Return
5.63% to 5.86%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 432 Monthly Payment Option
6706H3 440 Quarterly Payment Option
6706H3 457 Semi-Annual Payment Option
Registered in Florida
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, FLORIDA INSURED TRUST 195
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 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 State of Florida, Full Faith and Credit, State Board of 2004 at 101 AAA Aaa
Education, Public Education Capital Outlay Bonds, Series
1994A, 6.10% Due 6/1/24. (General Obligation Bonds.) (When
issued.)
500,000 Citrus County, Florida, Pollution Control Refunding Revenue 2002 at 102 AAA Aaa
Bonds, Series 1992 B (Florida Power Corporation Crystal
River Power Plant Project), 6.35% Due 2/1/22.
500,000 Hernando County, Florida, Capital Improvement Refunding 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993, 5.75% Due 2/1/21.
500,000 Jacksonville Electric Authority (Jacksonville, Florida), St. 2002 at 101 AAA Aaa
Johns River Power Park System, Refunding Revenue Bonds
Issue Two, Series Nine, 5.25% Due 10/1/21.
500,000 Manatee County Port Authority (Florida), Revenue Refunding 2003 at 102 AAA Aaa
and Improvement Bonds, Series 1993A, 5.25% Due 10/1/13.
500,000 Orange County, Florida, Tourist Development Tax Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.00% Due 10/1/24.
500,000 City of Tampa, Florida, Allegany Health System Revenue 2003 at 102 AAA Aaa
Bonds, St. Joseph's Hospital, Inc. Issue, Series 1993,
5.125% Due 12/1/23. (Original issue discount bonds
delivered on or about January 4, 1994 at a price of
94.522% of principal amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.65 5.54% 5.57% 5.59%
500-999 50,000-99,999 4.75 98.50 5.55 5.58 5.60
1,000-2,499 100,000-249,999 4.50 98.24 5.56 5.59 5.61
2,500-4,999 250,000-499,999 4.25 97.98 5.58 5.61 5.63
5,000-9,999 500,000-999,999 3.50 97.22 5.62 5.65 5.67
10,000-24,999 1,000,000-2,499,999 3.00 96.72 5.65 5.68 5.70
25,000-49,999 2,500,000-4,999,999 2.50 96.23 5.68 5.71 5.73
50,000 and over 5,000,000 and over 2.00 95.73 5.71 5.74 5.76
</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 % $ 98.65 5.63% 5.67% 5.69%
500-999 50,000-99,999 4.75 98.50 5.64 5.67 5.69
1,000-2,499 100,000-249,999 4.50 98.24 5.65 5.69 5.71
2,500-4,999 250,000-499,999 4.25 97.98 5.67 5.70 5.72
5,000-9,999 500,000-999,999 3.50 97.22 5.71 5.75 5.77
10,000-24,999 1,000,000-2,499,999 3.00 96.72 5.74 5.78 5.80
25,000-49,999 2,500,000-4,999,999 2.50 96.23 5.77 5.81 5.83
50,000 and over 5,000,000 and over 2.00 95.73 5.80 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
Florida Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6371(1) $ 5.4629
-------- $.4551 every month --------
Quarterly Distribution Plan........... $ .6371(1) $ .4578(2) $ 1.3734 $ 1.3734 $ 5.4949
Semi-Annual Distribution Plan......... $ .6371(1) $ .4593(3) $ 2.7558 $ 5.5139
- --------------------------------------------------------------------------------------------------------------------
<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 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01517 per unit per day.
Consequently, on the first Record Date (10/01/94), accrued interest will total
$0.6371 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 10/01/94 is $.6371 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01517 Quarterly - $0.01526
Semi-Annual - $0.01531
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.
- --------------------------------------------------------------------------------
747
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.0 years.
The first bond is scheduled to mature in October, 2013, with the last bond
maturity being October, 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.
- -------------------------------------------------------
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.
