<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CONNECTICUT
TRUST 269
(CONNECTICUT TRADITIONAL TRUST 269)
Estimated Current Return
6.14% to 6.38%
as of 11/09/94
Estimated Long Term Return
6.28% to 6.53%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67094E 550 Monthly Payment Option
67094E 568 Quarterly Payment Option
67094E 576 Semi-Annual Payment Option
Registered in Connecticut
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--CONNECTICUT TRADITIONAL TRUST 269
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 10, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 State of Connecticut, Special Tax Obligation Bonds, No Optional AA- A1
Transportation Infrastructure Purposes, 1992 Series B, Call
6.125% Due 9/1/12.
525,000 State of Connecticut General Fund Obligation Bonds, 1994 2004 at 102 AA- A1
Series A, Issued By Connecticut Development Authority,
6.375% Due 10/15/24. (General Obligation Bonds.)
225,000 Connecticut Development Authority, Water Facilities 2004 at 102 AAA Aaa
Refunding Revenue Bonds (Bridgeport Hydraulic Company
Project-1994A Series), 6.05% Due 3/1/29. (MBIA Insured.)
500,000 State of Connecticut, Health and Educational Facilities 2004 at 102 AAA Aaa
Authority, Revenue Bonds, New Britain General Hospital
Issue, Series B, 6.00% Due 7/1/24. (AMBAC Insured.)
250,000 State of Connecticut Health and Educational Facilities 2004 at 102 AA- A1
Authority, Revenue Bonds, Nursing Home Program Issue,
Series 1994 (St. Camillus Health Center Project), 6.25%
Due 11/1/18. (General Obligation Bonds.)
300,000 State of Connecticut Health and Educational Facilities 2003 at 102 AAA Aaa
Authority, Revenue Bonds, Saint Francis Hospital and
Medical Center Issue, Series C, 5.00% Due 7/1/23. (FGIC
Insured.)
300,000 State of Connecticut, Clean Water Fund Revenue Bonds, 1994 2004 at 102 AA+ Aa
Series, 5.75% Due 6/1/13.
200,000 Town of East Windsor, Connecticut, General Obligation Bonds, No Optional -- A
Call
100M-6.90% Due 3/15/09,
100M-6.90% Due 3/15/10.
175,000 Town of Stafford, Connecticut, General Obligation Bonds, No Optional -- A
Issue of 1989, 6.80% Due 10/1/09. Call
525,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. (MBIA 1/2
Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. 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 % $ 96.48 6.14% 6.17% 6.19%
500-999 50,000-99,999 4.75 96.33 6.15 6.18 6.20
1,000-2,499 100,000-249,999 4.50 96.07 6.17 6.20 6.22
2,500-4,999 250,000-499,999 4.25 95.82 6.18 6.22 6.24
5,000-9,999 500,000-999,999 3.50 95.08 6.23 6.26 6.28
10,000-24,999 1,000,000-2,499,999 3.00 94.59 6.26 6.30 6.32
25,000-49,999 2,500,000-4,999,999 2.50 94.10 6.30 6.33 6.35
50,000 and over 5,000,000 and over 2.00 93.62 6.33 6.36 6.38
</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 % $ 96.48 6.28% 6.32% 6.33%
500-999 50,000-99,999 4.75 96.33 6.28 6.32 6.34
1,000-2,499 100,000-249,999 4.50 96.07 6.30 6.34 6.36
2,500-4,999 250,000-499,999 4.25 95.82 6.32 6.35 6.37
5,000-9,999 500,000-999,999 3.50 95.08 6.37 6.41 6.43
10,000-24,999 1,000,000-2,499,999 3.00 94.59 6.40 6.44 6.46
25,000-49,999 2,500,000-4,999,999 2.50 94.10 6.44 6.47 6.49
50,000 and over 5,000,000 and over 2.00 93.62 6.47 6.51 6.53
</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
Connecticut Traditional 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............. $ .3454(1) $ 5.9237
-------- $.4935 every month --------
Quarterly Distribution Plan........... $ .3454(1) $ .9924(2) $ 1.4886 $ 1.4886 $ 1.4886 $ 5.9557
Semi-Annual Distribution Plan......... $ .3454(1) $ 2.4885(3) $ 2.9862 $ 5.9747
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.13 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 $.01645 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.3454 per unit for the 21-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 $.3454 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01645 Quarterly - $0.01654
Semi-Annual - $0.01659
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.
- --------------------------------------------------------------------------------
765
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.1 years.
The first bond is scheduled to mature in March, 2009, with the last bond
maturity being March, 2029.
- -------------------------------------------------------
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 44%
AA 45
A 11
---
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 294
(VIRGINIA TRADITIONAL TRUST 294)
Estimated Current Return
First
Year: 6.22% to 6.46%
Subsequent
Years: 6.23% to 6.48%
as of 11/09/94
Estimated Long Term Return
6.43% to 6.68%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 523 Monthly Payment Option
6706L5 531 Quarterly Payment Option
6706L5 549 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 294
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 10, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 475,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. (MBIA 1/2
Insured.)
425,000 Virginia College Building Authority, Educational Facilities 2003 at 102 A+ --
Revenue Refunding Bonds (Hampton University Project),
Series of 1993, 5.75% Due 4/1/14.
525,000 Blacksburg-Virginia Polytechnic Institute Sanitation 2004 at 102 A Baa1
Authority (Virginia), Sewer System Revenue Bonds, Series
of 1994, 6.60% Due 11/1/11.
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.
500,000 City of Norfolk, Virginia, Water Revenue Bonds, Series 1993, 2003 at 102 AAA Aaa
5.25% Due 11/1/13. (AMBAC Insured.)
250,000 Pittsylvania County, Virginia, General Obligation Public 2004 at 102 A A
Improvement Bonds, Series of 1994, 6.00% Due 7/1/14.
325,000 Industrial Development Authority of the City of Roanoke, No Optional AAA Aaa
Virginia, Hospital Revenue Refunding Bonds (Roanoke Call
Memorial Hospitals, Community Hospital of Roanoke Valley
and Franklin Memorial Hospital Project), Series 1992B,
6.125% Due 7/1/17. (MBIA Insured.)
500,000 Industrial Development Authority of the City of Winchester 2004 at 102 AA --
(Virginia), Educational Facilities First Mortgage Revenue
Bonds (Shenandoah University Project), Series 1994, 6.70%
Due 10/1/14. (ASSET GUARANTEED.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. 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 % $ 96.07 (6.22%) 6.23% (6.25%) 6.26% (6.27%) 6.28%
500-999 50,000-99,999 4.75 95.92 (6.23) 6.24 (6.26) 6.27 (6.28) 6.29
1,000-2,499 100,000-249,999 4.50 95.66 (6.25) 6.26 (6.28) 6.29 (6.30) 6.31
2,500-4,999 250,000-499,999 4.25 95.42 (6.26) 6.27 (6.30) 6.31 (6.32) 6.33
5,000-9,999 500,000-999,999 3.50 94.67 (6.31) 6.32 (6.35) 6.36 (6.37) 6.38
10,000-24,999 1,000,000-2,499,999 3.00 94.19 (6.34) 6.36 (6.38) 6.39 (6.40) 6.41
25,000-49,999 2,500,000-4,999,999 2.50 93.70 (6.38) 6.39 (6.41) 6.42 (6.43) 6.44
50,000 and over 5,000,000 and over 2.00 93.22 (6.41) 6.42 (6.44) 6.46 (6.46) 6.48
</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 % $ 96.07 6.43% 6.47% 6.49%
500-999 50,000-99,999 4.75 95.92 6.44 6.47 6.49
1,000-2,499 100,000-249,999 4.50 95.66 6.46 6.49 6.51
2,500-4,999 250,000-499,999 4.25 95.42 6.47 6.51 6.53
5,000-9,999 500,000-999,999 3.50 94.67 6.52 6.56 6.58
10,000-24,999 1,000,000-2,499,999 3.00 94.19 6.56 6.60 6.62
25,000-49,999 2,500,000-4,999,999 2.50 93.70 6.59 6.63 6.65
50,000 and over 5,000,000 and over 2.00 93.22 6.63 6.66 6.68
</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> <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............. $ .3490(1) $ 5.9866
-------- $.4986 every month --------
Quarterly Distribution Plan........... $ .3490(1) $ 1.0026(2) $ 1.5039 $ 1.5039 $ 1.5039 $ 6.0186
Semi-Annual Distribution Plan......... $ .3490(1) $ 2.5155(3) $ 3.0186 $ 6.0376
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.13 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 $.01662 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.3490 per unit for the 21-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 $.3490 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01662 Quarterly - $0.01671
Semi-Annual - $0.01677
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.
- --------------------------------------------------------------------------------
765
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 21.2 years.
The first bond is scheduled to mature in November, 2011, with the last bond
maturity being July, 2023.
- -------------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------------
<TABLE>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 37%
AA 14
A1/A+ 27
A 22
---
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
NATIONAL
INSURED
TRUST 282
Estimated Current Return
First
Year: 6.35% to 6.60%
Subsequent
Years: 6.36% to 6.61%
as of 11/09/94
Estimated Long Term Return
6.51% to 6.77%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 340 Monthly Payment Option
6710A3 357 Quarterly Payment Option
6710A3 365 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 282
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 10, 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 Illinois Health Facilities Authority Revenue Bonds, Series 2004 at 102 AAA Aaa
1994A (The University of Chicago Hospitals Project),
6.125% Due 8/15/26.
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.
500,000 Massachusetts Water Pollution Abatement Trust, Water 2004 at 102 AAA Aaa
Pollution Abatement Revenue Bonds (SESD Loan Program),
1994 Series A, 6.375% Due 2/1/15.
750,000 South Essex Sewerage District, Massachusetts, General 2004 at 102 AAA Aaa
Obligation Sewer Bonds, 1994 Series B, 7.00% Due 6/1/24.
(When issued.)
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.
750,000 Dormitory Authority of the State of New York, State 2003 at 102 AAA Aaa
University Educational Facilities Revenue Bonds, Series
1992A, 6.00% Due 5/15/22. (Original issue discount bonds
delivered on or about December 30, 1992 at a price of
92.25% of principal amount.)
750,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
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.
750,000 Washington Public Power Supply System, Nuclear Project No. 2 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.75% Due 7/1/12.
750,000 Wisconsin Health and Educational Facilities Authority 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993 (Aurora Health Care Obligated
Group), 5.25% Due 8/15/23. (Original issue discount bonds
delivered on or about December 8, 1993 at a price of
92.911% of principal amount.)
----------
$7,500,000
----------
----------
</TABLE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. 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 % $ 93.31 (6.35%) 6.36% (6.39%) 6.40% (6.41%) 6.42%
500-999 50,000-99,999 4.75 93.17 (6.36) 6.37 (6.40) 6.41 (6.42) 6.43
1,000-2,499 100,000-249,999 4.50 92.92 (6.38) 6.39 (6.41) 6.42 (6.44) 6.44
2,500-4,999 250,000-499,999 4.25 92.68 (6.40) 6.40 (6.43) 6.44 (6.45) 6.46
5,000-9,999 500,000-999,999 3.50 91.96 (6.45) 6.45 (6.48) 6.49 (6.50) 6.51
10,000-24,999 1,000,000-2,499,999 3.00 91.48 (6.48) 6.49 (6.52) 6.52 (6.54) 6.54
25,000-49,999 2,500,000-4,999,999 2.50 91.02 (6.51) 6.52 (6.55) 6.56 (6.57) 6.58
50,000 and over 5,000,000 and over 2.00 90.55 (6.55) 6.56 (6.58) 6.59 (6.60) 6.61
</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 % $ 93.31 6.51% 6.55% 6.57%
500-999 50,000-99,999 4.75 93.17 6.52 6.56 6.58
1,000-2,499 100,000-249,999 4.50 92.92 6.54 6.58 6.60
2,500-4,999 250,000-499,999 4.25 92.68 6.56 6.59 6.61
5,000-9,999 500,000-999,999 3.50 91.96 6.61 6.65 6.67
10,000-24,999 1,000,000-2,499,999 3.00 91.48 6.65 6.68 6.70
25,000-49,999 2,500,000-4,999,999 2.50 91.02 6.68 6.72 6.74
50,000 and over 5,000,000 and over 2.00 90.55 6.71 6.75 6.77
</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............. $ .3460(1) $ 5.9358
-------- $.4944 every month --------
Quarterly Distribution Plan........... $ .3460(1) $ .9942(2) $ 1.4913 $ 1.4913 $ 1.4913 $ 5.9678
Semi-Annual Distribution Plan......... $ .3460(1) $ 2.4930(3) $ 2.9916 $ 5.9868
- ---------------------------------------------------------------------------------------------------------------------------------
<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.
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(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 $.13 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 $.01648 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.3460 per unit for the 21-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 $.3460 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01648 Quarterly - $0.01657
Semi-Annual - $0.01663
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>
- ------------------------
%
Illinois 24.1
Massachusetts 18.3
New Jersey 10.6
New York 9.7
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Pennsylvania 9.1
Texas 10.4
Washington 9.3
Wisconsin 8.5
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 28.6 years. The first bond is scheduled to mature in July,
2012, with the last bond maturity being October, 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.
- -------------------------------------------------
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.
765
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
PENNSYLVANIA
INSURED
TRUST 189
Estimated Current Return
6.25% to 6.49%
as of 11/09/94
Estimated Long Term Return
6.46% to 6.70%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H9 678 Monthly Payment Option
6706H9 686 Quarterly Payment Option
6706H9 694 Semi-Annual Payment Option
Registered in Pennsylvania & 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, PENNSYLVANIA INSURED TRUST 189
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 10, 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 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
500,000 Allegheny County Hospital Development Authority 2002 at 100 AAA Aaa
(Pennsylvania), Health Center Revenue Bonds, Series 1992A
(Presbyterian University Health System, Inc. Project),
6.25% Due 11/1/23.
500,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series B
(Pennsylvania Power & Light Company Project), 6.40% Due
9/1/29.
500,000 Northampton County Higher Education Authority 2002 at 102 AAA Aaa
(Pennsylvania), University Revenue Bonds (Lehigh
University), Series A of 1993, 5.75% Due 11/15/18.
500,000 City of Philadelphia, Pennsylvania, Water and Wastewater 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993, 5.75% Due 6/15/13.
500,000 Sewickley Valley Hospital Authority (Allegheny County, 2003 at 102 AAA Aaa
Pennsylvania), Hospital Revenue Refunding Bonds, Series
1993A (Sewickley Valley Hospital Project), 5.75% Due
10/15/16.
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 The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. 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 % $ 92.32 6.25% 6.28% 6.30%
500-999 50,000-99,999 4.75 92.18 6.26 6.29 6.31
1,000-2,499 100,000-249,999 4.50 91.94 6.27 6.31 6.33
2,500-4,999 250,000-499,999 4.25 91.70 6.29 6.32 6.35
5,000-9,999 500,000-999,999 3.50 90.98 6.34 6.37 6.40
10,000-24,999 1,000,000-2,499,999 3.00 90.52 6.37 6.41 6.43
25,000-49,999 2,500,000-4,999,999 2.50 90.05 6.40 6.44 6.46
50,000 and over 5,000,000 and over 2.00 89.59 6.44 6.47 6.49
</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 % $ 92.32 6.46% 6.49% 6.51%
500-999 50,000-99,999 4.75 92.18 6.46 6.49 6.51
1,000-2,499 100,000-249,999 4.50 91.94 6.48 6.51 6.53
2,500-4,999 250,000-499,999 4.25 91.70 6.50 6.53 6.55
5,000-9,999 500,000-999,999 3.50 90.98 6.55 6.58 6.60
10,000-24,999 1,000,000-2,499,999 3.00 90.52 6.59 6.62 6.64
25,000-49,999 2,500,000-4,999,999 2.50 90.05 6.62 6.65 6.67
50,000 and over 5,000,000 and over 2.00 89.59 6.65 6.68 6.70
</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
Pennsylvania 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............. $ .3364(1) $ 5.7675
-------- $.4806 every month --------
Quarterly Distribution Plan........... $ .3364(1) $ .9660(2) $ 1.4490 $ 1.4490 $ 1.4490 $ 5.7995
Semi-Annual Distribution Plan......... $ .3364(1) $ 2.4240(3) $ 2.9088 $ 5.8185
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.13 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 $.01602 per unit per day.
Consequently, on the first Record Date (12/01/94), accrued interest will total
$0.3364 per unit for the 21-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 $.3364 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01602 Quarterly - $0.01610
Semi-Annual - $0.01616
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.
- --------------------------------------------------------------------------------
765
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.5 years.
The first bond is scheduled to mature in June, 2013, with the last bond maturity
being September, 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
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
