<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 280
Estimated Current Return
First
Year: 6.01% to 6.25%
Subsequent
Years: 6.02% to 6.25%
as of 10/20/94
Estimated Long Term Return
6.10% to 6.33%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 282 Monthly Payment Option
6710A3 290 Quarterly Payment Option
6710A3 308 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, NATIONAL INSURED TRUST 280
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT OCTOBER 21, 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 State Public Works Board of the State of California, Lease 2004 at 102 AAA Aaa
Revenue Bonds (The Regents of the University of
California), 1994 Series B (Various University of
California Projects),
480M-6.625% Due 12/1/14,
270M-6.625% Due 12/1/19.
750,000 Otay Water District (California), Water Revenue Certificates 2004 at 102 AAA Aaa
of Participation (1993 Water Facilities Project), 5.70%
Due 9/1/23.
750,000 Illinois Health Facilities Authority, Central DuPage Health 2002 at 102 AAA Aaa
System Revenue Bonds, Series 1992 (Wyndemere Retirement
Community Project), 5.75% Due 11/1/22. (Original issue
discount bonds delivered on or about February 20, 1992 at
a price of 88.924% of principal amount.)
1,000,000 Metropolitan Pier and Exposition Authority (Illinois), 2003 at 102 AAA Aaa
McCormick Place Expansion Project Bonds, Series 1992A,
6.50% Due 6/15/27.
750,000 The Pollution Control Financing Authority of Salem County 2004 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1994 Series D (Public Service Electric and Gas Company
Project), 6.55% Due 10/1/29. (When issued.)
750,000 New York State Medical Care Facilities Finance Agency, 2004 at 102 AAA Aaa
Mental Health Services Facilities Improvement Revenue
Bonds, 1994 Series E, 6.50% Due 8/15/24. (General
Obligation Bonds.)
740,000 Wayne County Hospital and Health Facilities Authority, Wayne 2004 at 100 AAA Aaa
County, Pennsylvania, County Guaranteed Hospital Revenue
Bonds, Series of 1994 (Wayne Memorial Hospital Project),
6.375% Due 7/1/24.
750,000 Harris County Health Facilities (Texas), Development 2004 at 101 AAA Aaa
Corporation Hospital Revenue Bonds (Hermann Hospital),
Series 1994, 6.375% Due 10/1/24.
510,000 King County, Washington, Department of Metropolitan 2004 at 102 AAA Aaa
Services, General Obligation Sewer Revenue Bonds, 1994
Series A, 6.25% Due 1/1/34.
750,000 Washington Public Power Supply System, Nuclear Project No. 1 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.75% Due 7/1/13.
----------
$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 4.90 % $ 100.07 (6.01%) 6.02% (6.04%) 6.05% (6.06%) 6.07%
500-999 50,000-99,999 4.75 99.92 (6.02) 6.03 (6.05) 6.06 (6.07) 6.08
1,000-2,499 100,000-249,999 4.50 99.65 (6.04) 6.04 (6.07) 6.08 (6.09) 6.09
2,500-4,999 250,000-499,999 4.25 99.39 (6.05) 6.06 (6.09) 6.09 (6.11) 6.11
5,000-9,999 500,000-999,999 3.50 98.62 (6.10) 6.11 (6.13) 6.14 (6.15) 6.16
10,000-24,999 1,000,000-2,499,999 3.00 98.11 (6.13) 6.14 (6.17) 6.17 (6.19) 6.19
25,000-49,999 2,500,000-4,999,999 2.50 97.61 (6.16) 6.17 (6.20) 6.20 (6.22) 6.22
50,000 and over 5,000,000 and over 2.00 97.11 (6.20) 6.20 (6.23) 6.23 (6.25) 6.25
</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 % $ 100.07 6.10% 6.12% 6.14%
500-999 50,000-99,999 4.75 99.92 6.10 6.13 6.15
1,000-2,499 100,000-249,999 4.50 99.65 6.12 6.15 6.17
2,500-4,999 250,000-499,999 4.25 99.39 6.13 6.16 6.18
5,000-9,999 500,000-999,999 3.50 98.62 6.19 6.22 6.23
10,000-24,999 1,000,000-2,499,999 3.00 98.11 6.22 6.25 6.27
25,000-49,999 2,500,000-4,999,999 2.50 97.61 6.25 6.28 6.30
50,000 and over 5,000,000 and over 2.00 97.11 6.28 6.31 6.33
</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
National Insured Trust 1994 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 12/1 2/1 5/1 8/1 11/1
Distribution Date..................... 12/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6688(1) $ 6.0223
-------- $.5016 every month --------
Quarterly Distribution Plan........... $ .6688(1) $ 1.0086(2) $ 1.5129 $ 1.5129 $ 1.5129 $ 6.0543
Semi-Annual Distribution Plan......... $ .6688(1) $ 2.5305(3) $ 3.0366 $ 6.0733
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-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 $.12 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 $.01672 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.6688 per unit for the 40-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 12/01/94 is $.6688 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01672 Quarterly - $0.01681
Semi-Annual - $0.01687
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 7 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 19.7
Illinois 23.1
New Jersey 10.5
New York 10.4
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Pennsylvania 10.1
Texas 10.2
Washington 16.0
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 29.2 years. The first bond is scheduled to mature in July,
2013, with the last bond maturity being January, 2034.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
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.
760
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
SHORT INTERMEDIATE
INSURED
TRUST 35
Estimated Current Return
4.79% to 4.91%
as of 10/20/94
Estimated Long Term Return
4.92% to 5.04%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 346 Monthly Payment Option
6710A0 353 Quarterly Payment Option
6710A0 361 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 35
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT OCTOBER 21, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 550,000 Salt River Project Agricultural Improvement and Power No Optional AAA Aaa
District, Arizona, Salt River Project Electric System Call
Refunding Revenue Bonds, 1993C, 4.10% Due 1/1/00.
380,000 State of California, Various Purpose, General Obligation No Optional AAA Aaa
Bonds, 5.75% Due 9/1/99. Call
245,000 City of Boulder, Colorado, Sales Tax Revenue Bonds (Open No Optional AAA Aaa
Space Acquisition), Series 1994, 5.15% Due 12/15/99. (When Call
issued.)
490,000 Brevard County (Florida), Health Facilities Authority, No Optional AAA Aaa
Hospital Revenue Bonds, Series 1993 (Holmes Regional Call
Medical Center Project), 5.00% Due 10/1/99.
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series No Optional AAA Aaa
1992B (Franciscan Sisters Health Care Corporation Call
Project), 5.90% Due 9/1/99.
385,000 Public Building Commission of Chicago (Illinois), Building No Optional AAA Aaa
Revenue Bonds, Series A of 1993 (Board of Education of the Call
City of Chicago), 4.70% Due 12/1/99. (General Obligation
Bonds.)
700,000 The Trustees of Purdue University (Indiana), Purdue No Optional AAA Aaa
University Student Fee Bonds, Series G, 5.25% Due 7/1/99. Call
390,000 New Jersey Turnpike Authority, Turnpike Revenue Bonds, No Optional AAA Aaa
Series 1992 A, 5.40% Due 1/1/99. Call
750,000 New Jersey Transportation Trust Fund Authority, No Optional AAA Aaa
Transportation System Bonds, 1994 Series A, 5.00% Due Call
12/15/99.
750,000 State of Ohio (Ohio Public Facilities Commission), Higher No Optional AAA Aaa
Education Capital Facilities Bonds, Series II-1994A, 4.25% Call
Due 12/1/99.
610,000 Oklahoma Baptist University Authority, Oklahoma Baptist No Optional AAA Aaa
University Revenue Refunding Bonds, Series 1992, 6.10% Due Call
12/1/99.
500,000 Dallas-Fort Worth International Airport (Texas), Dal- No Optional AAA Aaa
las-Fort Worth Regional Airport, Joint Revenue Refunding Call
Bonds, Series 1993, 4.50% Due 11/1/99.
750,000 Washington Health Care Facilities Authority, Revenue Bonds, No Optional AAA Aaa
Series 1993 (Empire Health Services, Spokane), 5.00% Due Call
11/1/99.
----------
$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>
50-499 $5,000-$49,999 3.00 % $ 102.28 4.79% 4.82% 4.84%
500-999 50,000-99,999 2.80 102.07 4.80 4.83 4.85
1,000-2,499 100,000-249,999 2.60 101.86 4.81 4.84 4.86
2,500-4,999 250,000-499,999 2.35 101.60 4.82 4.85 4.87
5,000-9,999 500,000-999,999 2.10 101.34 4.83 4.86 4.88
10,000-24,999 1,000,000-2,499,999 1.85 101.08 4.84 4.87 4.89
25,000-49,999 2,500,000-4,999,999 1.80 101.03 4.84 4.88 4.90
50,000 and over 5,000,000 and over 1.50 100.72 4.86 4.89 4.91
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.00 % $ 102.28 4.92% 4.95% 4.97%
500-999 50,000-99,999 2.80 102.07 4.93 4.96 4.98
1,000-2,499 100,000-249,999 2.60 101.86 4.94 4.97 4.99
2,500-4,999 250,000-499,999 2.35 101.60 4.95 4.98 5.00
5,000-9,999 500,000-999,999 2.10 101.34 4.96 4.99 5.01
10,000-24,999 1,000,000-2,499,999 1.85 101.08 4.97 5.00 5.02
25,000-49,999 2,500,000-4,999,999 1.80 101.03 4.98 5.01 5.03
50,000 and over 5,000,000 and over 1.50 100.72 4.99 5.02 5.04
</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.
- --------------------------------------------------------------------------------
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> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 12/1 2/1 5/1 8/1 11/1
Distribution Date..................... 12/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5436(1) $ 4.8949
-------- $.4077 every month --------
Quarterly Distribution Plan........... $ .5436(1) $ .8208(2) $ 1.2312 $ 1.2312 $ 1.2312 $ 4.9269
Semi-Annual Distribution Plan......... $ .5436(1) $ 2.0595(3) $ 2.4714 $ 4.9459
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01359 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.5436 per unit for the 40-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 12/01/94 is $.5436 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01359 Quarterly - $0.01368
Semi-Annual - $0.01373
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 13 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 11 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Arizona 5.9
California 5.7
Colorado 3.3
Florida 6.4
Illinois 20.1
Indiana 9.6
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New Jersey 15.3
Ohio 8.3
Oklahoma 9.7
Texas 5.9
Washington 9.8
</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................................. 6,950 92.7%
2000................................. 550 7.3
</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.
760
