<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 299
(MARYLAND TRADITIONAL TRUST 299)
Estimated Current Return
5.76% to 5.99%
as of 09/21/94
Estimated Long Term Return
5.88% to 6.12%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 670 Monthly Payment Option
67101L 688 Quarterly Payment Option
67101L 696 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 299
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 22, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 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 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 A A1
Refunding Revenue Bonds, Suburban Hospital Issue, Series
1993, 5.125% Due 7/1/21. (Original issue discount bonds
delivered on or about October 14, 1993 at a price of
94.689% of principal amount.)
500,000 Anne Arundel County, Maryland, Pollution Control Revenue 2004 at 102 A A2
Refunding Bonds (Baltimore Gas and Electric Company
Project), Series 1994, 6.00% Due 4/1/24.
500,000 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. (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.)
500,000 Morgan State University, Maryland, Academic Fees and No Optional AAA Aaa
Auxiliary Facilities Fees, Revenue Refunding Bonds, 1993 Call
Series, 6.05% Due 7/1/15. (MBIA Insured.)
500,000 Prince George's County, Maryland, Pollution Control Revenue 2002 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1992 Series,
6.00% Due 9/1/22.
----------
$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 % $ 97.28 5.76% 5.80% 5.82%
500-999 50,000-99,999 4.75 97.12 5.77 5.81 5.83
1,000-2,499 100,000-249,999 4.50 96.87 5.79 5.82 5.84
2,500-4,999 250,000-499,999 4.25 96.62 5.80 5.84 5.86
5,000-9,999 500,000-999,999 3.50 95.87 5.85 5.88 5.90
10,000-24,999 1,000,000-2,499,999 3.00 95.37 5.88 5.91 5.93
25,000-49,999 2,500,000-4,999,999 2.50 94.88 5.91 5.94 5.96
50,000 and over 5,000,000 and over 2.00 94.40 5.94 5.97 5.99
</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 % $ 97.28 5.88% 5.92% 5.93%
500-999 50,000-99,999 4.75 97.12 5.88 5.92 5.94
1,000-2,499 100,000-249,999 4.50 96.87 5.90 5.94 5.96
2,500-4,999 250,000-499,999 4.25 96.62 5.91 5.95 5.97
5,000-9,999 500,000-999,999 3.50 95.87 5.96 6.00 6.02
10,000-24,999 1,000,000-2,499,999 3.00 95.37 6.00 6.03 6.05
25,000-49,999 2,500,000-4,999,999 2.50 94.88 6.03 6.07 6.08
50,000 and over 5,000,000 and over 2.00 94.40 6.06 6.10 6.12
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
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*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6072(1) $ 5.6079
-------- $.4671 every month --------
Quarterly Distribution Plan........... $ .6072(1) $ 1.4094(2) $ 1.4094 $ 1.4094 $ 5.6399
Semi-Annual Distribution Plan......... $ .6072(1) $ 2.8278(3) $ 5.6589
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</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 $.01557 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.6072 per unit for the 39-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 11/01/94 is $.6072 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01557 Quarterly - $0.01566
Semi-Annual - $0.01571
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.
- --------------------------------------------------------------------------------
754
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.9 years.
The first bond is scheduled to mature in July, 2015, 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 43%
A1/A+ 29
A 28
---
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
VIRGINIA
TRUST 292
(VIRGINIA TRADITIONAL TRUST 292)
Estimated Current Return
First
Year: 5.78% to 6.01%
Subsequent
Years: 5.80% to 6.03%
as of 09/21/94
Estimated Long Term Return
5.91% to 6.15%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 465 Monthly Payment Option
6706L5 473 Quarterly Payment Option
6706L5 481 Semi-Annual Payment Option
Registered in Virginia
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--VIRGINIA TRADITIONAL TRUST 292
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 22, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 525,000 Commonwealth Transportation Board, Commonwealth of Virginia, 2003 at 102 AA Aa
Transportation Revenue Bonds, Series 1993B (U.S. Route 58
Corridor Development Program), 5.50% Due 5/15/18.
500,000 Industrial Development Authority Of Augusta County, 2003 at 102 AAA Aaa
Virginia, Hospital Refunding Revenue Bonds (Augusta
Hospital Corporation), Series 1993, 5.50% Due 9/1/15.
(AMBAC Insured.)
500,000 Industrial Development Authority of Covington-Alleghany 2004 at 102 A A1
County, Virginia, Pollution Control Facilities Refunding
Revenue Bonds (Westvaco Corporation Project), Series 1994,
6.65% Due 9/1/18. (When issued.)
500,000 Henrico County, Virginia, Water and Sewer System Revenue and 2004 at 102 AA- A1
Refunding Revenue Bonds, Series 1994, 5.875% Due 5/1/14.
500,000 Industrial Development Authority of the City of Norfolk 2004 at 102 AA Aa
(Virginia), Hospital Revenue and Refunding Bonds (Sentara
Hospitals-Norfolk), Series 1994A, 5.50% Due 11/1/17.
500,000 City of Poquoson, Virginia, General Obligation Sewer System 2004 at 102 A A1
Bonds, Series 1994A, 6.50% Due 9/1/17. (When issued.)
475,000 Richmond Metropolitan Authority (Virginia), Expressway 2002 at 102 AAA Aaa
Revenue and Refunding Bonds, Series 1992-A, 6.375% Due
7/15/16. (FGIC 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.24 (5.78%) 5.80% (5.81%) 5.83% (5.83%) 5.85%
500-999 50,000-99,999 4.75 99.09 (5.79) 5.81 (5.82) 5.84 (5.84) 5.86
1,000-2,499 100,000-249,999 4.50 98.83 (5.81) 5.82 (5.84) 5.85 (5.86) 5.87
2,500-4,999 250,000-499,999 4.25 98.57 (5.82) 5.84 (5.85) 5.87 (5.87) 5.89
5,000-9,999 500,000-999,999 3.50 97.80 (5.87) 5.88 (5.90) 5.92 (5.92) 5.93
10,000-24,999 1,000,000-2,499,999 3.00 97.30 (5.90) 5.91 (5.93) 5.95 (5.95) 5.97
25,000-49,999 2,500,000-4,999,999 2.50 96.80 (5.93) 5.94 (5.96) 5.98 (5.98) 6.00
50,000 and over 5,000,000 and over 2.00 96.31 (5.96) 5.97 (5.99) 6.01 (6.01) 6.03
</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 % $ 99.24 5.91% 5.94% 5.96%
500-999 50,000-99,999 4.75 99.09 5.91 5.95 5.97
1,000-2,499 100,000-249,999 4.50 98.83 5.93 5.97 5.99
2,500-4,999 250,000-499,999 4.25 98.57 5.94 5.98 6.00
5,000-9,999 500,000-999,999 3.50 97.80 5.99 6.03 6.05
10,000-24,999 1,000,000-2,499,999 3.00 97.30 6.02 6.06 6.08
25,000-49,999 2,500,000-4,999,999 2.50 96.80 6.06 6.09 6.11
50,000 and over 5,000,000 and over 2.00 96.31 6.09 6.13 6.15
</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
Virginia Traditional Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6232(1) $ 5.7534
-------- $.4794 every month --------
Quarterly Distribution Plan........... $ .6232(1) $ 1.4463(2) $ 1.4463 $ 1.4463 $ 5.7854
Semi-Annual Distribution Plan......... $ .6232(1) $ 2.9016(3) $ 5.8044
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</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 $.01598 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.6232 per unit for the 39-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 11/01/94 is $.6232 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01598 Quarterly - $0.01607
Semi-Annual - $0.01612
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.
- --------------------------------------------------------------------------------
754
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.3 years.
The first bond is scheduled to mature in May, 2014, with the last bond maturity
being September, 2018.
- -------------------------------------------------------
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 28%
AA 44
A1/A+ 28
---
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
OHIO
INSURED
TRUST 118
Estimated Current Return
First
Year: 5.68% to 5.90%
Subsequent
Years: 5.71% to 5.94%
as of 09/21/94
Estimated Long Term Return
5.79% to 6.03%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 490 Monthly Payment Option
67101Y 508 Quarterly Payment Option
67101Y 516 Semi-Annual Payment Option
Registered in Ohio
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, OHIO INSURED TRUST 118
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 22, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Ohio Air Quality Development Authority, State of Ohio, 2003 at 102 AAA Aaa
Pollution Control Revenue Refunding Bonds, 1993 Series B
(Ohio Edison Company Project), 5.625% Due 11/15/29.
500,000 Ohio Higher Educational Facility Commission, Higher 2004 at 102 AAA Aaa
Educational Facility Revenue Bonds (Ohio Wesleyan
University 1994 Project), 6.125% Due 11/15/17. (When
issued.)
500,000 Akron, Bath and Copley Joint Township Hospital District, 2003 at 102 AAA Aaa
Ohio, Hospital Facility Revenue Bonds, Series 1993 (Akron
General Medical Center Project), 5.50% Due 1/1/21.
500,000 City of Cleveland, Ohio, Airport System Improvement Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.10% Due 1/1/24.
500,000 Gahanna-Jefferson City School District, Franklin County, 2004 at 101 AAA Aaa
Ohio, School Building Construction and Improvement Bonds,
6.00% Due 12/1/17. (General Obligation Bonds.)
500,000 County of Lucas, Ohio, Hospital Improvement and Refunding 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993 (The Toledo Hospital), 5.00%
Due 11/15/22. (Original issue discount bonds delivered on
or about July 29, 1993 at a price of 91.402% of principal
amount.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 1/2
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.30 (5.68%) 5.71% (5.71%) 5.74% (5.73%) 5.76%
500-999 50,000-99,999 4.75 98.14 (5.69) 5.72 (5.72) 5.75 (5.74) 5.77
1,000-2,499 100,000-249,999 4.50 97.88 (5.70) 5.73 (5.73) 5.77 (5.75) 5.79
2,500-4,999 250,000-499,999 4.25 97.63 (5.72) 5.75 (5.75) 5.78 (5.77) 5.80
5,000-9,999 500,000-999,999 3.50 96.87 (5.76) 5.79 (5.79) 5.83 (5.81) 5.85
10,000-24,999 1,000,000-2,499,999 3.00 96.37 (5.79) 5.82 (5.82) 5.86 (5.84) 5.88
25,000-49,999 2,500,000-4,999,999 2.50 95.88 (5.82) 5.85 (5.85) 5.89 (5.87) 5.91
50,000 and over 5,000,000 and over 2.00 95.39 (5.85) 5.88 (5.88) 5.92 (5.90) 5.94
</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 % $ 98.30 5.79% 5.83% 5.85%
500-999 50,000-99,999 4.75 98.14 5.80 5.84 5.86
1,000-2,499 100,000-249,999 4.50 97.88 5.82 5.85 5.87
2,500-4,999 250,000-499,999 4.25 97.63 5.83 5.87 5.89
5,000-9,999 500,000-999,999 3.50 96.87 5.88 5.92 5.94
10,000-24,999 1,000,000-2,499,999 3.00 96.37 5.91 5.95 5.97
25,000-49,999 2,500,000-4,999,999 2.50 95.88 5.94 5.98 6.00
50,000 and over 5,000,000 and over 2.00 95.39 5.97 6.01 6.03
</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
Ohio Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6076(1) $ 5.6121
-------- $.4674 every month --------
Quarterly Distribution Plan........... $ .6076(1) $ 1.4103(2) $ 1.4103 $ 1.4103 $ 5.6441
Semi-Annual Distribution Plan......... $ .6076(1) $ 2.8314(3) $ 5.6631
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</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 $.01558 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.6076 per unit for the 39-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 11/01/94 is $.6076 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01558 Quarterly - $0.01567
Semi-Annual - $0.01573
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.
- --------------------------------------------------------------------------------
754
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.7 years.
The first bond is scheduled to mature in November, 2017, with the last bond
maturity being November, 2029.
- -------------------------------------------------------
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.
