<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
INTERMEDIATE
INSURED
TRUST 76
Estimated Current Return
5.12% to 5.28%
as of 09/27/94
Estimated Long Term Return
5.28% to 5.43%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67093H 802 Monthly Payment Option
67093H 810 Quarterly Payment Option
67093H 828 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, INTERMEDIATE INSURED TRUST 76
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 28, 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 Pulaski County, Arkansas, Health Facilities Board (St. No Optional AAA Aaa
Vincent Infirmary), Sisters of Charity of Nazareth Health Call
Corporation, Revenue Refunding Bonds, Series 1992, 5.80%
Due 11/1/04.
750,000 State of California, Various Purpose, General Obligation No Optional AAA Aaa
Bonds, 6.10% Due 9/1/04. Call
750,000 State of Illinois, Build Illinois Bonds (Sales Tax Revenue No Optional AAA Aaa
Bonds), Series S, 4.65% Due 6/15/04. Call
750,000 Winnebago and Boone Counties, Illinois, Rockford School No Optional AAA Aaa
District Number 205, School Bonds, Series 1992 C, 5.90% Call
Due 2/1/05. (General Obligation Bonds.)
750,000 The Commonwealth of Massachusetts, General Obligation No Optional AAA Aaa
Refunding Bonds, 1993 Series B, 5.20% Due 11/1/04. Call
750,000 Massachusetts Water Resources Authority, General Revenue No Optional AAA Aaa
Bonds, 1993 Series C, 5.10% Due 12/1/04. Call
750,000 Dormitory Authority of the State of New York, Revenue Bonds, No Optional AAA Aaa
Upstate Community Colleges, Series 1994A, 5.125% Due Call
7/1/04.
750,000 Tulsa Metropolitan Utility Authority (Oklahoma), Water No Optional AAA Aaa
Revenue Bonds, Series 1984A, 5.60% Due 11/1/04. Call
750,000 Commonwealth of Pennsylvania, General Obligation Bonds, No Optional AAA Aaa
First Series of 1994 (Refunding and Projects), 5.30% Due Call
5/1/04.
750,000 Washington Health Care Facilities Authority, Revenue Bonds, No Optional AAA Aaa
Series 1993 (Empire Health Services, Spokane), 5.60% Due Call
11/1/04.
----------
$7,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.90 % $ 101.99 5.12% 5.16% 5.17%
500-999 50,000-99,999 3.70 101.78 5.13 5.17 5.19
1,000-2,499 100,000-249,999 3.50 101.56 5.15 5.18 5.20
2,500-4,999 250,000-499,999 3.25 101.30 5.16 5.19 5.21
5,000-9,999 500,000-999,999 3.00 101.04 5.17 5.20 5.22
10,000-24,999 1,000,000-2,499,999 2.75 100.78 5.19 5.22 5.24
25,000-49,999 2,500,000-4,999,999 2.50 100.52 5.20 5.23 5.25
50,000 and over 5,000,000 and over 2.00 100.01 5.23 5.26 5.28
</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 3.90 % $ 101.99 5.28% 5.31% 5.32%
500-999 50,000-99,999 3.70 101.78 5.29 5.32 5.34
1,000-2,499 100,000-249,999 3.50 101.56 5.30 5.33 5.35
2,500-4,999 250,000-499,999 3.25 101.30 5.31 5.34 5.36
5,000-9,999 500,000-999,999 3.00 101.04 5.33 5.35 5.37
10,000-24,999 1,000,000-2,499,999 2.75 100.78 5.34 5.37 5.39
25,000-49,999 2,500,000-4,999,999 2.50 100.52 5.35 5.38 5.40
50,000 and over 5,000,000 and over 2.00 100.01 5.38 5.41 5.43
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Intermediate 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............. $ .4788(1) $ 5.2264
-------- $.4353 every month --------
Quarterly Distribution Plan........... $ .4788(1) $ 1.3140(2) $ 1.3140 $ 1.3140 $ 5.2584
Semi-Annual Distribution Plan......... $ .4788(1) $ 2.6370(3) $ 5.2774
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01451 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.4788 per unit for the 33-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 $.4788 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01451 Quarterly - $0.01460
Semi-Annual - $0.01465
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 10 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 8 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Arkansas 10.7
California 11.2
Illinois 19.5
Massachusetts 18.9
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New York 9.4
Oklahoma 10.3
Pennsylvania 9.7
Washington 10.3
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 10.0 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
2004................................. 6,750 90.0%
2005................................. 750 10.0
</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.
755
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 197
Estimated Current Return
5.70% to 5.93%
as of 09/27/94
Estimated Long Term Return
5.81% to 6.04%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 499 Monthly Payment Option
6706H3 507 Quarterly Payment Option
6706H3 515 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 197
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 28, 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 Board of Education of Florida, Public Education 2004 at 101 AAA Aaa
Capital Outlay Bonds, 1993 Series E, 5.80% Due 6/1/24.
(General Obligation Bonds.)
200,000 Hillsborough County Industrial Development Authority 2004 at 102 AAA Aaa
(Florida), Industrial Development Revenue Bonds, Series
1994 (University Community Hospital), 5.80% Due 8/15/24.
365,000 City of North Miami Beach, Florida, General Obligation 2004 at 102 AAA Aaa
Bonds, Series 1994, 6.30% Due 2/1/24.
500,000 Orange County, Florida, Sales Tax Revenue Bonds, Series 2003 at 102 AAA Aaa
1993B, 5.375% Due 1/1/24.
435,000 Orlando Utilities Commission (Florida), Water and Electric 2002 at 101 AAA Aaa
Revenue Bonds, Series 1993, 5.125% Due 10/1/19.
500,000 Pinellas County, Florida, Sewer Revenue Bonds, Series 1994, 2002 at 102 AAA Aaa
6.00% Due 10/1/24.
500,000 South Broward Hospital District (Florida), Hospital Revenue 2003 at 102 AAA Aaa
and Refunding Revenue Bonds, Series 1993, 5.50% Due
5/1/28.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 1/2
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION
Sales charge/volume discount applies on all concurrent purchases of any Nuveen
trust units. Estimated Current Return equals net income divided by offering
price. Estimated Long Term Return represents an average of the yields to
maturity (or call) of the Bonds in the Trust adjusted to reflect expenses and
sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 97.49 5.70% 5.74% 5.76%
500-999 50,000-99,999 4.75 97.33 5.71 5.75 5.77
1,000-2,499 100,000-249,999 4.50 97.08 5.73 5.76 5.78
2,500-4,999 250,000-499,999 4.25 96.83 5.74 5.78 5.80
5,000-9,999 500,000-999,999 3.50 96.07 5.79 5.82 5.84
10,000-24,999 1,000,000-2,499,999 3.00 95.58 5.82 5.85 5.87
25,000-49,999 2,500,000-4,999,999 2.50 95.09 5.85 5.88 5.90
50,000 and over 5,000,000 and over 2.00 94.60 5.88 5.91 5.93
</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 % $ 97.49 5.81% 5.84% 5.86%
500-999 50,000-99,999 4.75 97.33 5.82 5.85 5.86
1,000-2,499 100,000-249,999 4.50 97.08 5.84 5.86 5.88
2,500-4,999 250,000-499,999 4.25 96.83 5.85 5.88 5.90
5,000-9,999 500,000-999,999 3.50 96.07 5.90 5.93 5.94
10,000-24,999 1,000,000-2,499,999 3.00 95.58 5.93 5.96 5.98
25,000-49,999 2,500,000-4,999,999 2.50 95.09 5.96 5.99 6.01
50,000 and over 5,000,000 and over 2.00 94.60 5.99 6.02 6.04
</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*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5095(1) $ 5.5618
-------- $.4632 every month --------
Quarterly Distribution Plan........... $ .5095(1) $ 1.3977(2) $ 1.3977 $ 1.3977 $ 5.5938
Semi-Annual Distribution Plan......... $ .5095(1) $ 2.8062(3) $ 5.6128
- --------------------------------------------------------------------------------------------------------------------
<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 $.01544 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.5095 per unit for the 33-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 $.5095 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01544 Quarterly - $0.01553
Semi-Annual - $0.01559
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.
- --------------------------------------------------------------------------------
755
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 29.5 years.
The first bond is scheduled to mature in October, 2019, with the last bond
maturity being May, 2028.
- -------------------------------------------------------
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
MASSACHUSETTS
INSURED
TRUST 118
Estimated Current Return
5.73% to 5.96%
as of 09/27/94
Estimated Long Term Return
5.88% to 6.12%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 134 Monthly Payment Option
670947 142 Quarterly Payment Option
670947 159 Semi-Annual Payment Option
Registered in Massachusetts
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, MASSACHUSETTS INSURED TRUST 118
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 28, 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 Massachusetts Bay Transportation Authority, General 2004 at 102 AAA Aaa
Transportation System Bonds, 1994 Series B Bonds, 5.90%
Due 3/1/24. (General Obligation Bonds.)
500,000 Massachusetts Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Massachusetts General Hospital Issue,
Series F, 6.25% Due 7/1/20.
500,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, The North Shore Medical Center Issue,
Series A, 5.625% Due 7/1/14.
500,000 Massachusetts Industrial Finance Agency Revenue Bonds, 2008 at 102 AAA Aaa
Phillips Academy Issue, Series 1993, 5.375% Due 9/1/23.
250,000 Massachusetts Municipal Wholesale Electric Company, Power 2004 at 102 AAA Aaa
Supply System Revenue Bonds, 1994 Series B, 5.00% Due
7/1/13.
250,000 Massachusetts Turnpike Authority, Turnpike Revenue Bonds, 2003 at 100 AAA Aaa
1993 Series A, 5.00% Due 1/1/20. (Original issue discount
bonds delivered on or about March 16, 1993 at a price of
93.29% of principal amount.)
500,000 Massachusetts Water Resources Authority, General Revenue 2004 at 101 AAA Aaa
Bonds, 1994 Series A, 6.00% Due 8/1/24. 1/2
500,000 Town of Framingham, Massachusetts, General Obligation Bonds, 2004 at 102 AAA Aaa
6.30% Due 8/15/14. (When issued.)
----------
$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 % $ 96.74 5.73% 5.77% 5.79%
500-999 50,000-99,999 4.75 96.59 5.74 5.78 5.80
1,000-2,499 100,000-249,999 4.50 96.33 5.76 5.79 5.81
2,500-4,999 250,000-499,999 4.25 96.08 5.77 5.81 5.83
5,000-9,999 500,000-999,999 3.50 95.34 5.82 5.85 5.87
10,000-24,999 1,000,000-2,499,999 3.00 94.85 5.85 5.88 5.90
25,000-49,999 2,500,000-4,999,999 2.50 94.36 5.88 5.91 5.93
50,000 and over 5,000,000 and over 2.00 93.88 5.91 5.94 5.96
</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 % $ 96.74 5.88% 5.91% 5.93%
500-999 50,000-99,999 4.75 96.59 5.88 5.91 5.94
1,000-2,499 100,000-249,999 4.50 96.33 5.90 5.93 5.96
2,500-4,999 250,000-499,999 4.25 96.08 5.91 5.94 5.97
5,000-9,999 500,000-999,999 3.50 95.34 5.96 5.99 6.02
10,000-24,999 1,000,000-2,499,999 3.00 94.85 6.00 6.02 6.05
25,000-49,999 2,500,000-4,999,999 2.50 94.36 6.03 6.06 6.08
50,000 and over 5,000,000 and over 2.00 93.88 6.06 6.09 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
Massachusetts 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............. $ .5007(1) $ 5.5468
-------- $.4620 every month --------
Quarterly Distribution Plan........... $ .5007(1) $ 1.3941(2) $ 1.3941 $ 1.3941 $ 5.5788
Semi-Annual Distribution Plan......... $ .5007(1) $ 2.7972(3) $ 5.5978
- --------------------------------------------------------------------------------------------------------------------
<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 $.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 $.01517 per unit per day.
Consequently, on the first Record Date (11/01/94), accrued interest will total
$0.5007 per unit for the 33-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 $.5007 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01540 Quarterly - $0.01549
Semi-Annual - $0.01554
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.
- --------------------------------------------------------------------------------
755
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.1 years.
The first bond is scheduled to mature in July, 2013, with the last bond maturity
being August, 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.
