<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 301
(MARYLAND TRADITIONAL TRUST 301)
Estimated Current Return
6.20% to 6.44%
as of 11/15/94
Estimated Long Term Return
6.36% to 6.61%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 738 Monthly Payment Option
67101L 746 Quarterly Payment Option
67101L 753 Semi-Annual Payment Option
Registered in Maryland
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--MARYLAND TRADITIONAL TRUST 301
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 16, 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 Maryland Health and Higher Educational Facilities Authority 2004 at 102 AAA Aaa
Revenue Bonds, Maryland General Hospital Issue, Series
1994, 6.20% Due 7/1/24. (MBIA Insured.)
500,000 City of Baltimore, Maryland (Mayor and City Council of 2004 at 100 AAA Aaa
Baltimore), Convention Center Revenue Bonds, Series 1994,
6.00% Due 9/1/17. (FGIC Insured.)
500,000 Calvert County, Maryland, Pollution Control Revenue 2004 at 102 A A2
Refunding Bonds (Baltimore Gas and Electric Company
Project), Series 1993, 5.55% Due 7/15/14.
500,000 Carroll County, Maryland, General Obligation Bonds, County 2004 at 102 AA- Aa
Commissioners of Carroll County, Consolidated Public
Improvement Bonds of 1994, 6.50% Due 10/1/24.
500,000 Morgan State University, Maryland, Academic Fees and No Optional AAA Aaa
Auxiliary Facilities Fees, Revenue Refunding Bonds, 1993 Call
Series, 6.05% Due 7/1/15. (MBIA Insured.)
500,000 Prince George's County, Maryland, Pollution Control Revenue 2003 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1993 Series,
6.375% Due 1/15/23.
525,000 Washington Suburban Sanitary District, Maryland (Montgomery 2004 at 100 AA Aa1
and Prince George's Counties, Maryland), General
Construction Bonds of 1994, 6.625% Due 6/1/19. (General
Obligation Bonds.) (When issued.)
----------
$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 % $ 96.10 6.20% 6.23% 6.25%
500-999 50,000-99,999 4.75 95.95 6.21 6.24 6.26
1,000-2,499 100,000-249,999 4.50 95.70 6.22 6.26 6.28
2,500-4,999 250,000-499,999 4.25 95.45 6.24 6.27 6.29
5,000-9,999 500,000-999,999 3.50 94.70 6.29 6.32 6.34
10,000-24,999 1,000,000-2,499,999 3.00 94.22 6.32 6.35 6.37
25,000-49,999 2,500,000-4,999,999 2.50 93.73 6.35 6.39 6.41
50,000 and over 5,000,000 and over 2.00 93.26 6.39 6.42 6.44
</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 % $ 96.10 6.36% 6.39% 6.41%
500-999 50,000-99,999 4.75 95.95 6.37 6.40 6.42
1,000-2,499 100,000-249,999 4.50 95.70 6.39 6.42 6.44
2,500-4,999 250,000-499,999 4.25 95.45 6.40 6.43 6.45
5,000-9,999 500,000-999,999 3.50 94.70 6.46 6.49 6.50
10,000-24,999 1,000,000-2,499,999 3.00 94.22 6.49 6.52 6.54
25,000-49,999 2,500,000-4,999,999 2.50 93.73 6.52 6.55 6.57
50,000 and over 5,000,000 and over 2.00 93.26 6.56 6.59 6.61
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Maryland Traditional Trust 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7443(1) $ 5.9552
-------- $.4962 every month --------
Quarterly Distribution Plan........... $ .7443(1) $ .4989(2) $ 1.4967 $ 1.4967 $ 1.4967 $ 5.9872
Semi-Annual Distribution Plan......... $ .7443(1) $ 2.0016(3) $ 3.0024 $ 6.0062
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 4-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 $.01654 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.7443 per unit for the 45-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 01/01/95 is $.7443 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01654 Quarterly - $0.01663
Semi-Annual - $0.01668
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.
- --------------------------------------------------------------------------------
766
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.0 years.
The first bond is scheduled to mature in July, 2014, with the last bond maturity
being October, 2024.
- -------------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------------
<TABLE>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 42%
AA 30
A1/A+ 14
A 14
---
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
CALIFORNIA
INSURED
TRUST 235
Estimated Current Return
6.34% to 6.60%
as of 11/15/94
Estimated Long Term Return
6.53% to 6.79%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 527 Monthly Payment Option
67064U 535 Quarterly Payment Option
67064U 543 Semi-Annual Payment Option
Registered in California
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, CALIFORNIA INSURED TRUST 235
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 16, 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 California Statewide Communities Development Authority, 2004 at 102 AAA Aaa
Certificates of Participation, Sharp Healthcare Obligated
Group, 6.00% Due 8/15/24.
500,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Certificates of Participation, Sutter Health Obligated
Group, 5.50% Due 8/15/23.
500,000 State Public Works Board of the State of California, Lease 2004 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1994 Series A
(California State Prison-Monterey County (Soledad II)),
7.00% Due 11/1/19.
500,000 Department of Water and Power of The City of Los Angeles 2003 at 102 AAA Aaa
(California), Electric Plant Refunding Revenue Bonds,
Issue of 1993, 5.875% Due 9/1/30.
500,000 Otay Water District (California), Water Revenue Certificates 2004 at 102 AAA Aaa
of Participation (1993 Water Facilities Project), 5.70%
Due 9/1/23.
500,000 Sacramento Municipal Utility District (California), Electric 2003 at 102 AAA Aaa
Revenue Bonds, 1993 Series E, 5.75% Due 5/15/22.
500,000 San Diego Regional Building Authority (California), 2003 at 102 AAA Aaa
Refunding Lease Revenue Bonds, Series 1993A (San Miguel
Consolidated Fire Protection District Project), 5.65% Due
1/1/20.
----------
$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 % $ 89.54 6.34% 6.38% 6.40%
500-999 50,000-99,999 4.75 89.40 6.35 6.39 6.41
1,000-2,499 100,000-249,999 4.50 89.16 6.37 6.41 6.43
2,500-4,999 250,000-499,999 4.25 88.93 6.39 6.42 6.45
5,000-9,999 500,000-999,999 3.50 88.24 6.44 6.47 6.50
10,000-24,999 1,000,000-2,499,999 3.00 87.78 6.47 6.51 6.53
25,000-49,999 2,500,000-4,999,999 2.50 87.33 6.51 6.54 6.56
50,000 and over 5,000,000 and over 2.00 86.89 6.54 6.57 6.60
</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 % $ 89.54 6.53% 6.56% 6.59%
500-999 50,000-99,999 4.75 89.40 6.54 6.57 6.60
1,000-2,499 100,000-249,999 4.50 89.16 6.56 6.59 6.62
2,500-4,999 250,000-499,999 4.25 88.93 6.58 6.60 6.63
5,000-9,999 500,000-999,999 3.50 88.24 6.63 6.66 6.69
10,000-24,999 1,000,000-2,499,999 3.00 87.78 6.66 6.69 6.72
25,000-49,999 2,500,000-4,999,999 2.50 87.33 6.70 6.73 6.76
50,000 and over 5,000,000 and over 2.00 86.89 6.73 6.76 6.79
</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
California Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7101(1) $ 5.6809
-------- $.4734 every month --------
Quarterly Distribution Plan........... $ .7101(1) $ .4758(2) $ 1.4274 $ 1.4274 $ 1.4274 $ 5.7129
Semi-Annual Distribution Plan......... $ .7101(1) $ 1.9104(3) $ 2.8656 $ 5.7319
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 4-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01578 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.7101 per unit for the 45-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 01/01/95 is $.7101 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01578 Quarterly - $0.01586
Semi-Annual - $0.01592
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.
- --------------------------------------------------------------------------------
766
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.7 years.
The first bond is scheduled to mature in November, 2019, with the last bond
maturity being September, 2030.
- -------------------------------------------------------
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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 200
Estimated Current Return
First
Year: 6.18% to 6.43%
Subsequent
Years: 6.22% to 6.47%
as of 11/15/94
Estimated Long Term Return
6.42% to 6.66%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 580 Monthly Payment Option
6706H3 598 Quarterly Payment Option
6706H3 606 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 200
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 16, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 State of Florida, State Board of Education, Public Education 2004 at 101 AAA Aaa
Capital Outlay Bonds, 1994 Series A, 6.00% Due 6/1/19.
(General Obligation Bonds.)
500,000 City of Edgewater, Florida, Water and Sewer Revenue 2003 at 102 AAA Aaa
Refunding Bonds, Series 1993, 5.50% Due 10/1/21.
500,000 Hillsborough County Aviation Authority, Florida, Tampa 2003 at 102 AAA Aaa
International Airport Revenue Refunding Bonds, 1993 Series
B, 5.60% Due 10/1/19.
500,000 Lee County, Florida, Capital and Transportation Facilities 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.60% Due 10/1/21.
500,000 City of Tallahassee, Florida, Health Facilities Revenue 2002 at 102 AAA Aaa
Refunding Bonds, Series 1992B (Tallahassee Memorial
Regional Medical Center, Inc. Project), 6.00% Due 12/1/15.
500,000 City of Tampa, Florida, Allegany Health System Revenue 2004 at 102 AAA Aaa
Bonds, St. Joseph's Hospital, Inc. Issue, Series 1994,
6.50% Due 12/1/23.
500,000 City of West Melbourne, Florida, Water and Sewer Revenue 2004 at 101 AAA Aaa
Refunding and Improvement Bonds, Series 1994, 6.75% Due
10/1/17. (When issued.)
----------
$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 % $ 92.47 (6.18%) 6.22% (6.22%) 6.25% (6.24%) 6.27%
500-999 50,000-99,999 4.75 92.33 (6.19) 6.23 (6.22) 6.26 (6.25) 6.28
1,000-2,499 100,000-249,999 4.50 92.08 (6.21) 6.24 (6.24) 6.28 (6.26) 6.30
2,500-4,999 250,000-499,999 4.25 91.84 (6.22) 6.26 (6.26) 6.30 (6.28) 6.32
5,000-9,999 500,000-999,999 3.50 91.13 (6.27) 6.31 (6.31) 6.35 (6.33) 6.37
10,000-24,999 1,000,000-2,499,999 3.00 90.66 (6.30) 6.34 (6.34) 6.38 (6.36) 6.40
25,000-49,999 2,500,000-4,999,999 2.50 90.19 (6.34) 6.38 (6.37) 6.41 (6.39) 6.43
50,000 and over 5,000,000 and over 2.00 89.73 (6.37) 6.41 (6.40) 6.44 (6.43) 6.47
</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 % $ 92.47 6.42% 6.45% 6.47%
500-999 50,000-99,999 4.75 92.33 6.43 6.46 6.47
1,000-2,499 100,000-249,999 4.50 92.08 6.45 6.48 6.49
2,500-4,999 250,000-499,999 4.25 91.84 6.46 6.49 6.51
5,000-9,999 500,000-999,999 3.50 91.13 6.51 6.54 6.56
10,000-24,999 1,000,000-2,499,999 3.00 90.66 6.55 6.58 6.60
25,000-49,999 2,500,000-4,999,999 2.50 90.19 6.58 6.61 6.63
50,000 and over 5,000,000 and over 2.00 89.73 6.62 6.64 6.66
</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
Florida Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7186(1) $ 5.7503
-------- $.4791 every month --------
Quarterly Distribution Plan........... $ .7186(1) $ .4818(2) $ 1.4454 $ 1.4454 $ 1.4454 $ 5.7823
Semi-Annual Distribution Plan......... $ .7186(1) $ 1.9332(3) $ 2.8998 $ 5.8013
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 4-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01597 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.7186 per unit for the 45-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 01/01/95 is $.7186 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01597 Quarterly - $0.01606
Semi-Annual - $0.01611
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.
- --------------------------------------------------------------------------------
766
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.2 years.
The first bond is scheduled to mature in December, 2015, with the last bond
maturity being December, 2023.
- -------------------------------------------------------
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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MASSACHUSETTS
INSURED
TRUST 120
Estimated Current Return
6.20% to 6.44%
as of 11/15/94
Estimated Long Term Return
6.44% to 6.69%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 191 Monthly Payment Option
670947 209 Quarterly Payment Option
670947 217 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 120
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 16, 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 2003 at 102 AAA Aaa
Transportation System Bonds, 1993 Series A Refunding,
5.50% Due 3/1/22. (General Obligation Bonds.)
500,000 Massachusetts Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Falmouth Hospital Issue, Series C, 5.625%
Due 7/1/11.
500,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, New England Medical Center Hospitals Issue,
Series G-1, 5.375% Due 7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, Smith College Issue, Series D, 5.75% Due
7/1/24.
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.
500,000 Town of Framingham, Massachusetts, General Obligation Bonds, 2004 at 102 AAA Aaa
250M-6.125% Due 8/15/11,
250M-6.20% Due 8/15/12.
500,000 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.)
----------
$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 % $ 92.49 6.20% 6.23% 6.25%
500-999 50,000-99,999 4.75 92.35 6.20 6.24 6.26
1,000-2,499 100,000-249,999 4.50 92.10 6.22 6.26 6.28
2,500-4,999 250,000-499,999 4.25 91.86 6.24 6.27 6.29
5,000-9,999 500,000-999,999 3.50 91.15 6.29 6.32 6.34
10,000-24,999 1,000,000-2,499,999 3.00 90.68 6.32 6.35 6.38
25,000-49,999 2,500,000-4,999,999 2.50 90.22 6.35 6.39 6.41
50,000 and over 5,000,000 and over 2.00 89.76 6.38 6.42 6.44
</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 % $ 92.49 6.44% 6.48% 6.50%
500-999 50,000-99,999 4.75 92.35 6.45 6.48 6.50
1,000-2,499 100,000-249,999 4.50 92.10 6.47 6.50 6.52
2,500-4,999 250,000-499,999 4.25 91.86 6.48 6.52 6.54
5,000-9,999 500,000-999,999 3.50 91.15 6.53 6.57 6.59
10,000-24,999 1,000,000-2,499,999 3.00 90.68 6.57 6.61 6.63
25,000-49,999 2,500,000-4,999,999 2.50 90.22 6.60 6.64 6.66
50,000 and over 5,000,000 and over 2.00 89.76 6.64 6.67 6.69
</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 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7159(1) $ 5.7299
-------- $.4773 every month --------
Quarterly Distribution Plan........... $ .7159(1) $ .4800(2) $ 1.4400 $ 1.4400 $ 1.4400 $ 5.7619
Semi-Annual Distribution Plan......... $ .7159(1) $ 1.9260(3) $ 2.8890 $ 5.7809
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 4-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.11 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01591 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.7159 per unit for the 45-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 01/01/95 is $.7159 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01591 Quarterly - $0.01600
Semi-Annual - $0.01605
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.
- --------------------------------------------------------------------------------
766
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.3 years.
The first bond is scheduled to mature in July, 2011, with the last bond maturity
being July, 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
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 226
Estimated Current Return
First
Year: 6.25% to 6.50%
Subsequent
Years: 6.30% to 6.55%
as of 11/15/94
Estimated Long Term Return
6.48% to 6.73%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H5 858 Monthly Payment Option
6706H5 866 Quarterly Payment Option
6706H5 874 Semi-Annual Payment Option
Registered in New York, Connecticut & 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, NEW YORK INSURED TRUST 226
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 16, 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 Dormitory Authority of the State of New York, Dormitory 2004 at 102 AAA Aaa
Revenue Bonds, State University Issue, Series X, 7.40% Due
7/1/24. (When issued.)
230,000 New York State Energy Research and Development Authority, 2004 at 102 AAA Aaa
Pollution Control Refunding Revenue Bonds (New York State
Electric & Gas Corporation Project), 1994 Series A, 6.05%
Due 4/1/34.
500,000 New York State Housing Finance Agency, Service Contract 2004 at 102 AAA Aaa
Obligation Revenue Bonds, 1994 Series A, 6.375% Due
9/15/14. (General Obligation Bonds.)
500,000 New York Local Government Assistance Corporation (A Public No Optional AAA Aaa
Benefit Corporation of the State of New York), Series Call
1993C Refunding Bonds, 5.50% Due 4/1/17.
500,000 New York State Thruway Authority, Highway and Bridge Trust 2004 at 102 AAA Aaa
Fund Bonds, Series 1994A, 6.00% Due 4/1/14.
270,000 New York State Urban Development Corporation, Correctional 2004 at 102 AAA Aaa
Capital Facilities Revenue Bonds, 1993A Refunding Series,
5.25% Due 1/1/21. (Original issue discount bonds delivered
on or about January 4, 1994 at a price of 92.542% of
principal amount.)
500,000 The City of New York, General Obligation Bonds, Fiscal 1995 2004 at 101 AAA Aaa
Series B, 6.95% Due 8/15/12.
500,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal
1994 Series B, 5.50% Due 6/15/19.
----------
$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 % $ 94.41 (6.25%) 6.30% (6.29%) 6.33% (6.31%) 6.35%
500-999 50,000-99,999 4.75 94.26 (6.26) 6.31 (6.30) 6.34 (6.32) 6.36
1,000-2,499 100,000-249,999 4.50 94.01 (6.28) 6.32 (6.32) 6.36 (6.34) 6.38
2,500-4,999 250,000-499,999 4.25 93.77 (6.30) 6.34 (6.33) 6.38 (6.35) 6.40
5,000-9,999 500,000-999,999 3.50 93.04 (6.35) 6.39 (6.38) 6.43 (6.40) 6.45
10,000-24,999 1,000,000-2,499,999 3.00 92.56 (6.38) 6.42 (6.41) 6.46 (6.43) 6.48
25,000-49,999 2,500,000-4,999,999 2.50 92.08 (6.41) 6.46 (6.45) 6.49 (6.47) 6.51
50,000 and over 5,000,000 and over 2.00 91.61 (6.45) 6.49 (6.48) 6.53 (6.50) 6.55
</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 % $ 94.41 6.48% 6.51% 6.53%
500-999 50,000-99,999 4.75 94.26 6.48 6.52 6.54
1,000-2,499 100,000-249,999 4.50 94.01 6.50 6.54 6.56
2,500-4,999 250,000-499,999 4.25 93.77 6.52 6.56 6.58
5,000-9,999 500,000-999,999 3.50 93.04 6.57 6.61 6.63
10,000-24,999 1,000,000-2,499,999 3.00 92.56 6.61 6.65 6.66
25,000-49,999 2,500,000-4,999,999 2.50 92.08 6.64 6.68 6.70
50,000 and over 5,000,000 and over 2.00 91.61 6.67 6.71 6.73
</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
New York Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7429(1) $ 5.9461
-------- $.4953 every month --------
Quarterly Distribution Plan........... $ .7429(1) $ .4980(2) $ 1.4940 $ 1.4940 $ 1.4940 $ 5.9781
Semi-Annual Distribution Plan......... $ .7429(1) $ 1.9980(3) $ 2.9970 $ 5.9971
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 4-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 $.01651 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.7429 per unit for the 45-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 01/01/95 is $.7429 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01651 Quarterly - $0.01660
Semi-Annual - $0.01665
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.
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766
<PAGE>
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AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.7 years.
The first bond is scheduled to mature in August, 2012, with the last bond
maturity being April, 2034.
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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.
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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.
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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.
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REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
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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.
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* 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.
