<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 295
(VIRGINIA TRADITIONAL TRUST 295)
Estimated Current Return
6.21% to 6.46%
as of 11/28/94
Estimated Long Term Return
6.44% to 6.68%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 556 Monthly Payment Option
6706L5 564 Quarterly Payment Option
6706L5 572 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 295
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 29, 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 Washington Metropolitan Area Transit Authority (District of 2004 at 102 AAA Aaa
Columbia), Gross Revenue Transit Refunding Bonds, Series
1993, 5.25% Due 7/1/14. (FGIC Insured.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2002 at 101 AAA Aaa
1993 (General Obligation Bonds.), 5.875% Due 7/1/18. 1/2
(AMBAC Insured.)
400,000 Commonwealth of Virginia, General Obligation Bonds, Series 2004 at 102 AAA Aaa
1994,
190M-6.50% Due 6/1/14,
210M-6.60% Due 6/1/21.
(When issued.)
350,000 Virginia Resources Authority, Water and Sewer System Revenue 2003 at 102 AA --
Bonds (Campbell County Utilities and Service Authority
Refunding), 1993 Series B, 5.125% Due 10/1/19.
250,000 Commonwealth Transportation Board, Commonwealth of Virginia, 2003 at 102 AA Aa
Transportation Revenue Refunding Bonds, Series 1993A (U.S.
Route 58 Corridor Development Program), 5.25% Due 5/15/12.
(Original issue discount bonds delivered on or about June
23, 1993 at a price of 94.829% of principal amount.)
500,000 Industrial Development Authority of the County of Henrico, 2005 at 102 AA Aa
Virginia, Public Facility Lease Revenue Bonds (Henrico
County Regional Jail Project), Series 1994, 7.125% Due
8/1/21.
500,000 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, 6.80%
Due 10/1/24. (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>
50-499 $5,000-$49,999 4.90 % $ 94.21 6.21% 6.25% 6.27%
500-999 50,000-99,999 4.75 94.06 6.22 6.26 6.28
1,000-2,499 100,000-249,999 4.50 93.81 6.24 6.27 6.29
2,500-4,999 250,000-499,999 4.25 93.57 6.25 6.29 6.31
5,000-9,999 500,000-999,999 3.50 92.84 6.30 6.34 6.36
10,000-24,999 1,000,000-2,499,999 3.00 92.36 6.34 6.37 6.39
25,000-49,999 2,500,000-4,999,999 2.50 91.89 6.37 6.40 6.42
50,000 and over 5,000,000 and over 2.00 91.42 6.40 6.44 6.46
</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 % $ 94.21 6.44% 6.47% 6.49%
500-999 50,000-99,999 4.75 94.06 6.45 6.47 6.49
1,000-2,499 100,000-249,999 4.50 93.81 6.47 6.49 6.51
2,500-4,999 250,000-499,999 4.25 93.57 6.48 6.51 6.53
5,000-9,999 500,000-999,999 3.50 92.84 6.53 6.56 6.58
10,000-24,999 1,000,000-2,499,999 3.00 92.36 6.57 6.60 6.62
25,000-49,999 2,500,000-4,999,999 2.50 91.89 6.60 6.63 6.65
50,000 and over 5,000,000 and over 2.00 91.42 6.64 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 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
Virginia 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............. $ .5158(1) $ 5.8519
-------- $.4875 every month --------
Quarterly Distribution Plan........... $ .5158(1) $ .4902(2) $ 1.4706 $ 1.4706 $ 1.4706 $ 5.8839
Semi-Annual Distribution Plan......... $ .5158(1) $ 1.9668(3) $ 2.9502 $ 5.9029
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01625 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.5158 per unit for the 32-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 $.5158 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01625 Quarterly - $0.01634
Semi-Annual - $0.01639
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.
- --------------------------------------------------------------------------------
769
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.8 years.
The first bond is scheduled to mature in May, 2012, 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 54%
AA 46
---
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 284
Estimated Current Return
6.38% to 6.63%
as of 11/28/94
Estimated Long Term Return
6.47% to 6.71%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 407 Monthly Payment Option
6710A3 415 Quarterly Payment Option
6710A3 423 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 284
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 29, 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>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 California Statewide Communities Development Authority, 2004 at 102 AAA Aaa
Certificates of Participation, Sharp Healthcare Obligated
Group, 6.00% Due 8/15/24.
1,000,000 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.
550,000 Orange County, Florida, Tourist Development Tax Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.00% Due 10/1/24.
1,000,000 South Broward Hospital District (Florida), Hospital Revenue 2003 at 102 AAA Aaa
and Refunding Revenue Bonds, Series 1993, 5.50% Due
5/1/28.
1,000,000 City of Chicago (Illinois), Chicago-O'Hare International 2005 at 102 AAA Aaa
Airport, General Airport Second Lien Revenue Refunding
Bonds, 1994 Series A, 6.375% Due 1/1/15.
1,450,000 Metropolitan Pier and Exposition Authority (Illinois), 2003 at 102 AAA Aaa
McCormick Place Expansion Project Bonds, Series 1992A,
6.50% Due 6/15/27.
1,000,000 South Essex Sewerage District, Massachusetts, General 2004 at 102 AAA Aaa
Obligation Sewer Bonds, 1994 Series B, 7.00% Due 6/1/24.
1,000,000 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.
1,000,000 Harris County, Texas, Toll Road Unlimited Tax and 2004 at 102 AAA Aaa
Subordinate Lien Revenue Bonds, Series 1994A, 6.40% Due
8/15/24.
1,000,000 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.
----------
$10,000,000
----------
----------
</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>
50-499 $5,000-$49,999 4.90 % $ 96.52 6.38% 6.41% 6.43%
500-999 50,000-99,999 4.75 96.37 6.39 6.42 6.44
1,000-2,499 100,000-249,999 4.50 96.12 6.40 6.44 6.46
2,500-4,999 250,000-499,999 4.25 95.86 6.42 6.45 6.47
5,000-9,999 500,000-999,999 3.50 95.12 6.47 6.50 6.52
10,000-24,999 1,000,000-2,499,999 3.00 94.63 6.50 6.54 6.56
25,000-49,999 2,500,000-4,999,999 2.50 94.14 6.54 6.57 6.59
50,000 and over 5,000,000 and over 2.00 93.66 6.57 6.60 6.63
</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 % $ 96.52 6.47% 6.50% 6.51%
500-999 50,000-99,999 4.75 96.37 6.47 6.50 6.52
1,000-2,499 100,000-249,999 4.50 96.12 6.49 6.52 6.54
2,500-4,999 250,000-499,999 4.25 95.86 6.51 6.54 6.56
5,000-9,999 500,000-999,999 3.50 95.12 6.56 6.59 6.61
10,000-24,999 1,000,000-2,499,999 3.00 94.63 6.60 6.63 6.65
25,000-49,999 2,500,000-4,999,999 2.50 94.14 6.63 6.66 6.68
50,000 and over 5,000,000 and over 2.00 93.66 6.66 6.69 6.71
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National 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............. $ .5468(1) $ 6.1541
-------- $.5127 every month --------
Quarterly Distribution Plan........... $ .5468(1) $ .5154(2) $ 1.5462 $ 1.5462 $ 1.5462 $ 6.1861
Semi-Annual Distribution Plan......... $ .5468(1) $ 2.0676(3) $ 3.1014 $ 6.2051
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01709 per unit per day.
<PAGE>
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.5468 per unit for the 32-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 $.5468 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01709 Quarterly - $0.01718
Semi-Annual - $0.01723
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 6 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 20.4
Florida 13.8
Illinois 24.8
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Massachusetts 11.0
Pennsylvania 10.0
Texas 20.0
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 29.6 years. The first bond is scheduled to mature in
January, 2015, 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.
- -------------------------------------------------
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.
769
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 201
Estimated Current Return
6.21% to 6.46%
as of 11/28/94
Estimated Long Term Return
6.40% to 6.65%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 614 Monthly Payment Option
6706H3 622 Quarterly Payment Option
6706H3 630 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 201
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 29, 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 Dade County, Florida, Public Facilities Revenue Bonds 2003 at 102 AAA Aaa
(Jackson Memorial Hospital), Series 1993, 5.25% Due
6/1/23. (Original issue discount bonds delivered on or
about June 15, 1993 at a price of 92.625% of principal
amount.)
500,000 The School Board of Dade County, Florida, Certificates of 2004 at 101 AAA Aaa
Participation, Series 1994A, 5.75% Due 5/1/12.
500,000 Orange County, Florida, Tourist Development Tax Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.00% Due 10/1/24.
500,000 Orlando (Florida) Utilities Commission, Water and Electric 2002 at 102 AAA Aaa
Subordinated Revenue Bonds, Series 1992A, 6.00% Due
10/1/20.
500,000 South Broward Hospital District (Florida), Hospital Revenue 2003 at 102 AAA Aaa
and Refunding Revenue Bonds, Series 1993, 5.50% Due
5/1/28.
500,000 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 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 % $ 91.51 6.21% 6.25% 6.27%
500-999 50,000-99,999 4.75 91.37 6.22 6.26 6.28
1,000-2,499 100,000-249,999 4.50 91.13 6.24 6.27 6.30
2,500-4,999 250,000-499,999 4.25 90.89 6.26 6.29 6.31
5,000-9,999 500,000-999,999 3.50 90.19 6.30 6.34 6.36
10,000-24,999 1,000,000-2,499,999 3.00 89.72 6.34 6.37 6.39
25,000-49,999 2,500,000-4,999,999 2.50 89.26 6.37 6.41 6.43
50,000 and over 5,000,000 and over 2.00 88.81 6.40 6.44 6.46
</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 % $ 91.51 6.40% 6.44% 6.46%
500-999 50,000-99,999 4.75 91.37 6.41 6.45 6.46
1,000-2,499 100,000-249,999 4.50 91.13 6.43 6.47 6.48
2,500-4,999 250,000-499,999 4.25 90.89 6.44 6.48 6.50
5,000-9,999 500,000-999,999 3.50 90.19 6.49 6.53 6.55
10,000-24,999 1,000,000-2,499,999 3.00 89.72 6.53 6.57 6.59
25,000-49,999 2,500,000-4,999,999 2.50 89.26 6.56 6.60 6.62
50,000 and over 5,000,000 and over 2.00 88.81 6.60 6.64 6.65
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Florida Insured Trust 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............. $ .5052(1) $ 5.6860
-------- $.4737 every month --------
Quarterly Distribution Plan........... $ .5052(1) $ .4764(2) $ 1.4292 $ 1.4292 $ 1.4292 $ 5.7180
Semi-Annual Distribution Plan......... $ .5052(1) $ 1.9116(3) $ 2.8674 $ 5.7370
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01579 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.5052 per unit for the 32-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 $.5052 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01579 Quarterly - $0.01588
Semi-Annual - $0.01593
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.
- --------------------------------------------------------------------------------
769
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.5 years.
The first bond is scheduled to mature in May, 2012, with the last bond maturity
being May, 2028.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 227
Estimated Current Return
6.30% to 6.55%
as of 11/28/94
Estimated Long Term Return
6.48% to 6.72%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101K 102 Monthly Payment Option
67101K 110 Quarterly Payment Option
67101K 128 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 227
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 29, 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 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.
450,000 New York State Housing Finance Agency, Service Contract 2003 at 102 AAA Aaa
Obligation Revenue Bonds, 1993 Series C Refunding, 6.125%
Due 3/15/20.
500,000 New York Local Government Assistance Corporation (A Public 2003 at 102 AAA Aaa
Benefit Corporation of the State of New York), Series
1993C Refunding Bonds, 5.50% Due 4/1/18.
240,000 New York State Thruway Authority, Highway and Bridge Trust 2004 at 102 AAA Aaa
Fund Bonds, Series 1994A, 6.00% Due 4/1/14.
245,000 The City of New York (New York), General Obligation Bonds, 2004 at 101 AAA Aaa
Fiscal 1995 Series B, 7.30% Due 8/15/10.
280,000 The City of New York (New York), General Obligation Bonds, 2004 at 101 AAA Aaa
Fiscal 1995 Series B, 7.375% Due 8/15/13.
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.
285,000 County of Monroe, New York, Water Improvement Refunding 2003 at 101 AAA Aaa
Serial Bonds-1993, 5.60% Due 12/1/14. (General Obligation
Bonds.)
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 % $ 93.26 6.30% 6.33% 6.35%
500-999 50,000-99,999 4.75 93.11 6.31 6.34 6.36
1,000-2,499 100,000-249,999 4.50 92.87 6.33 6.36 6.38
2,500-4,999 250,000-499,999 4.25 92.63 6.34 6.38 6.40
5,000-9,999 500,000-999,999 3.50 91.91 6.39 6.43 6.45
10,000-24,999 1,000,000-2,499,999 3.00 91.43 6.43 6.46 6.48
25,000-49,999 2,500,000-4,999,999 2.50 90.96 6.46 6.49 6.51
50,000 and over 5,000,000 and over 2.00 90.50 6.49 6.53 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 % $ 93.26 6.48% 6.51% 6.52%
500-999 50,000-99,999 4.75 93.11 6.48 6.51 6.53
1,000-2,499 100,000-249,999 4.50 92.87 6.50 6.53 6.55
2,500-4,999 250,000-499,999 4.25 92.63 6.52 6.55 6.57
5,000-9,999 500,000-999,999 3.50 91.91 6.57 6.60 6.62
10,000-24,999 1,000,000-2,499,999 3.00 91.43 6.61 6.64 6.65
25,000-49,999 2,500,000-4,999,999 2.50 90.96 6.64 6.67 6.69
50,000 and over 5,000,000 and over 2.00 90.50 6.67 6.70 6.72
</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
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............. $ .5219(1) $ 5.8744
-------- $.4893 every month --------
Quarterly Distribution Plan........... $ .5219(1) $ .4920(2) $ 1.4760 $ 1.4760 $ 1.4760 $ 5.9064
Semi-Annual Distribution Plan......... $ .5219(1) $ 1.9740(3) $ 2.9610 $ 5.9254
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01631 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.5219 per unit for the 32-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 $.5219 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01631 Quarterly - $0.01640
Semi-Annual - $0.01645
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.
- --------------------------------------------------------------------------------
769
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.3 years.
The first bond is scheduled to mature in August, 2010, with the last bond
maturity being April, 2034.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
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.
