<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
SHORT INTERMEDIATE
INSURED
TRUST 37
Estimated Current Return
First
Year: 5.16% to 5.29%
Subsequent
Years: 5.19% to 5.32%
as of 12/01/94
Estimated Long Term Return
5.45% to 5.59%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 403 Monthly Payment Option
6710A0 411 Quarterly Payment Option
6710A0 429 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, SHORT INTERMEDIATE INSURED TRUST 37
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 2, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 State of California, Various Purpose General Obligation No Optional AAA Aaa
Bonds, 5.70% Due 11/1/99. (When issued.) Call
450,000 Pinellas County, Florida, Resource Recovery Refunding No Optional AAA Aaa
Revenue Bonds, Series 1990A, 6.50% Due 10/1/99. Call
1,000,000 Illinois Health Facilities Authority, Revenue Bonds No Optional AAA Aaa
(Hospital Sisters Services, Inc.-Obligated Group), Series Call
1991C, 6.10% Due 6/1/00.
750,000 State of Illinois, General Obligation Refunding Bonds, No Optional AAA Aaa
Series of June 1993, 4.70% Due 6/1/99. Call
340,000 Department of Transportation of Maryland, Consolidated No Optional AAA Aaa
Transportation Bonds, Series 1991, 5.90% Due 9/1/99. Call
500,000 Kent Hospital Finance Authority (Michigan), Hospital Revenue No Optional AAA Aaa
Refunding Bonds (Butterworth Hospital), Series 1993A, Call
4.40% Due 1/15/00.
635,000 City of Albuquerque, New Mexico, Joint Water and Sewer No Optional AAA Aaa
System, Refunding and Improvement Revenue Bonds, Series Call
1994A, 4.00% Due 7/1/99.
500,000 The City of New York (New York), General Obligation Bonds, No Optional AAA Aaa
Fiscal 1993 Series C, 5.80% Due 8/1/99. Call
325,000 New York City (New York), Municipal Water Finance Authority, No Optional AAA Aaa
Water and Sewer System Revenue Bonds, Fiscal 1992 Series Call
A, 6.20% Due 6/15/99.
750,000 Dormitory Authority of the State of New York, City No Optional AAA Aaa
University System Consolidated, Third General Resolution Call
Revenue Bonds, 1994 Series 2, 5.60% Due 7/1/99. (When
issued.)
750,000 Commonwealth of Pennsylvania, General Obligation Bonds, No Optional AAA Aaa
Third Series of 1994, 5.60% Due 11/15/99. (When issued.) Call
750,000 Charleston County, South Carolina, Charleston Public No Optional AAA Aaa
Facilities Corporation, Certificates of Participation, Call
Series 1994B,
400M-5.75% Due 12/1/99,
350M-5.75% Due 6/1/00.
(When issued.)
----------
$7,500,000
----------
----------
</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 3.00 % $ 101.65 (5.16%) 5.19% (5.19%) 5.22% (5.21%) 5.24%
500-999 50,000-99,999 2.80 101.44 (5.17) 5.20 (5.20) 5.23 (5.22) 5.25
1,000-2,499 100,000-249,999 2.60 101.23 (5.18) 5.21 (5.21) 5.24 (5.23) 5.26
2,500-4,999 250,000-499,999 2.35 100.97 (5.19) 5.22 (5.22) 5.25 (5.24) 5.27
5,000-9,999 500,000-999,999 2.10 100.71 (5.20) 5.24 (5.24) 5.27 (5.25) 5.29
10,000-24,999 1,000,000-2,499,999 1.85 100.46 (5.22) 5.25 (5.25) 5.28 (5.27) 5.30
25,000-49,999 2,500,000-4,999,999 1.80 100.41 (5.22) 5.25 (5.25) 5.28 (5.27) 5.30
50,000 and over 5,000,000 and over 1.50 100.10 (5.24) 5.27 (5.27) 5.30 (5.29) 5.32
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.00 % $ 101.65 5.45% 5.48% 5.50%
500-999 50,000-99,999 2.80 101.44 5.46 5.49 5.51
1,000-2,499 100,000-249,999 2.60 101.23 5.47 5.50 5.52
2,500-4,999 250,000-499,999 2.35 100.97 5.49 5.51 5.53
5,000-9,999 500,000-999,999 2.10 100.71 5.50 5.53 5.55
10,000-24,999 1,000,000-2,499,999 1.85 100.46 5.51 5.54 5.56
25,000-49,999 2,500,000-4,999,999 1.80 100.41 5.52 5.55 5.57
50,000 and over 5,000,000 and over 1.50 100.10 5.54 5.57 5.59
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Short Intermediate 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............. $ .4245(1) $ 5.2739
-------- $.4392 every month --------
Quarterly Distribution Plan........... $ .4245(1) $ .4419(2) $ 1.3257 $ 1.3257 $ 1.3257 $ 5.3059
Semi-Annual Distribution Plan......... $ .4245(1) $ 1.7748(3) $ 2.6622 $ 5.3249
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.10 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01464 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.4245 per unit for the 29-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 $.4245 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01464 Quarterly - $0.01473
Semi-Annual - $0.01479
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 12 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 9 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 10.4
Florida 7.1
Illinois 23.3
Maryland 4.9
Michigan 5.3
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New Mexico 6.2
New York 22.1
Pennsylvania 10.2
South Carolina 10.5
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 4.9 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
1999................................. 5,650 75.3%
2000................................. 1,850 24.7
</TABLE>
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
770
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
ARIZONA
INSURED
TRUST 36
Estimated Current Return
5.98% to 6.22%
as of 12/01/94
Estimated Long Term Return
6.32% to 6.56%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101J 378 Monthly Payment Option
67101J 386 Quarterly Payment Option
67101J 394 Semi-Annual Payment Option
Registered in Arizona
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, ARIZONA INSURED TRUST 36
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 2, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 505,000 Gilbert Unified School District No. 41 of Maricopa County, 2002 at 100 AAA Aaa
Arizona, School Improvement Bonds, Project of 1988, Series
G (1993), 5.50% Due 7/1/12. (General Obligation Bonds.)
525,000 Paradise Valley Unified School District No. 69 of Maricopa 2004 at 102 AAA Aaa
County, Arizona, School Improvement Bonds, Project of
1990, Series E (1994), 4.80% Due 7/1/13. (General
Obligation Bonds.)
500,000 The Industrial Development Authority of the County of No Optional AAA Aaa
Maricopa (Arizona), Samaritan Health Services, Hospital Call
System Revenue Refunding Bonds, Series 1990A, 7.00% Due
12/1/16.
500,000 City of Peoria, Arizona, General Obligation Refunding Bonds, 2003 at 101 AAA Aaa
Series 1993, 5.70% Due 7/1/11.
295,000 Phoenix Housing Finance Corporation (Arizona), Mortgage 2002 at 101 AAA Aaa
Revenue Refunding Bonds, Series 1992A (FHA Insured
Mortgage Loans-Section 8 Assisted Projects), 6.50% Due
7/1/24.
500,000 Salt River Project Agricultural Improvement and Power 2003 at 102 AAA Aaa
District, Arizona, Salt River Project Electric System
Refunding Revenue Bonds, 1993 Series B, 5.25% Due 1/1/13.
150,000 Tucson Airport Authority, Inc. (Arizona), Airport Revenue 2003 at 102 AAA Aaa
Bonds, Refunding Series 1993, 5.70% Due 6/1/13.
525,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 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 % $ 93.67 5.98% 6.02% 6.04%
500-999 50,000-99,999 4.75 93.52 5.99 6.03 6.05
1,000-2,499 100,000-249,999 4.50 93.28 6.01 6.04 6.06
2,500-4,999 250,000-499,999 4.25 93.03 6.03 6.06 6.08
5,000-9,999 500,000-999,999 3.50 92.31 6.07 6.11 6.13
10,000-24,999 1,000,000-2,499,999 3.00 91.84 6.10 6.14 6.16
25,000-49,999 2,500,000-4,999,999 2.50 91.36 6.14 6.17 6.19
50,000 and over 5,000,000 and over 2.00 90.90 6.17 6.20 6.22
</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 % $ 93.67 6.32% 6.34% 6.36%
500-999 50,000-99,999 4.75 93.52 6.32 6.35 6.37
1,000-2,499 100,000-249,999 4.50 93.28 6.34 6.37 6.39
2,500-4,999 250,000-499,999 4.25 93.03 6.35 6.38 6.40
5,000-9,999 500,000-999,999 3.50 92.31 6.41 6.44 6.46
10,000-24,999 1,000,000-2,499,999 3.00 91.84 6.44 6.47 6.49
25,000-49,999 2,500,000-4,999,999 2.50 91.36 6.47 6.50 6.52
50,000 and over 5,000,000 and over 2.00 90.90 6.51 6.54 6.56
</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
Arizona 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............. $ .4515(1) $ 5.6056
-------- $.4671 every month --------
Quarterly Distribution Plan........... $ .4515(1) $ .4698(2) $ 1.4094 $ 1.4094 $ 1.4094 $ 5.6376
Semi-Annual Distribution Plan......... $ .4515(1) $ 1.8852(3) $ 2.8278 $ 5.6566
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01557 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.4515 per unit for the 29-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 $.4515 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01557 Quarterly - $0.01566
Semi-Annual - $0.01571
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.
- --------------------------------------------------------------------------------
770
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 21.0 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
MICHIGAN
INSURED
TRUST 58
Estimated Current Return
First
Year: 6.20% to 6.44%
Subsequent
Years: 6.21% to 6.45%
as of 12/01/94
Estimated Long Term Return
6.37% to 6.62%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67095E 252 Monthly Payment Option
67095E 260 Quarterly Payment Option
67095E 278 Semi-Annual Payment Option
Registered in Michigan
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, MICHIGAN INSURED TRUST 58
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 2, 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 Michigan Municipal Bond Authority, Local Government Loan 2004 at 102 AAA Aaa
Program Revenue Bonds, Series 1994A (Wayne County Building
Authority Bonds), 6.125% Due 12/1/18.
360,000 Michigan Public Power Agency, Belle River Project Refunding 2003 at 102 AAA Aaa
Revenue Bonds, 1993 Series A, 5.25% Due 1/1/18. (Original
issue discount bonds delivered on or about April 14, 1993
at a price of 92.48% of principal amount.)
500,000 Grand Ledge Public Schools, Counties of Eaton, Clinton and 2004 at 102 AAA Aaa
Ionia, State of Michigan, 1994 School Building and Site
Bonds, 6.60% Due 5/1/24. (General Obligation Bonds.)
440,000 Downtown Development Authority of The City of Grand Rapids, 2004 at 102 AAA Aaa
Michigan, Tax Increment Revenue Bonds, Series 1994, 6.875%
Due 6/1/24. (When issued.)
500,000 Kent Hospital Finance Authority (Michigan), Hospital Revenue 2003 at 102 AAA Aaa
Refunding Bonds (Butterworth Hospital), Series 1993A,
5.375% Due 1/15/19.
225,000 Lake Orion Community School District, County of Oakland, 2005 at 101 AAA Aaa
State of Michigan, 1994 School Building and Site and
Refunding Bonds, 7.00% Due 5/1/20. (General Obligation
Bonds.)
500,000 Warren Consolidated Schools, Counties of Macomb and Oakland, 2003 at 102 AAA Aaa
State of Michigan, 1993 Refunding Bonds, 5.50% Due 5/1/21.
(General Obligation Bonds.)
475,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.50% Due 7/1/23. 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 94.64 (6.20%) 6.21% (6.23%) 6.24% (6.25%) 6.26%
500-999 50,000-99,999 4.75 94.49 (6.21) 6.22 (6.24) 6.25 (6.26) 6.27
1,000-2,499 100,000-249,999 4.50 94.24 (6.22) 6.24 (6.26) 6.27 (6.28) 6.29
2,500-4,999 250,000-499,999 4.25 94.00 (6.24) 6.25 (6.27) 6.29 (6.29) 6.31
5,000-9,999 500,000-999,999 3.50 93.26 (6.29) 6.30 (6.32) 6.34 (6.34) 6.36
10,000-24,999 1,000,000-2,499,999 3.00 92.78 (6.32) 6.33 (6.35) 6.37 (6.37) 6.39
25,000-49,999 2,500,000-4,999,999 2.50 92.31 (6.35) 6.37 (6.39) 6.40 (6.41) 6.42
50,000 and over 5,000,000 and over 2.00 91.84 (6.38) 6.40 (6.42) 6.43 (6.44) 6.45
</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 % $ 94.64 6.37% 6.40% 6.42%
500-999 50,000-99,999 4.75 94.49 6.38 6.41 6.43
1,000-2,499 100,000-249,999 4.50 94.24 6.40 6.43 6.45
2,500-4,999 250,000-499,999 4.25 94.00 6.41 6.44 6.46
5,000-9,999 500,000-999,999 3.50 93.26 6.47 6.49 6.51
10,000-24,999 1,000,000-2,499,999 3.00 92.78 6.50 6.53 6.55
25,000-49,999 2,500,000-4,999,999 2.50 92.31 6.53 6.56 6.58
50,000 and over 5,000,000 and over 2.00 91.84 6.57 6.60 6.62
</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
Michigan 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............. $ .4732(1) $ 5.8770
-------- $.4896 every month --------
Quarterly Distribution Plan........... $ .4732(1) $ .4923(2) $ 1.4769 $ 1.4769 $ 1.4769 $ 5.9090
Semi-Annual Distribution Plan......... $ .4732(1) $ 1.9752(3) $ 2.9628 $ 5.9280
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01632 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.4732 per unit for the 29-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 $.4732 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01632 Quarterly - $0.01641
Semi-Annual - $0.01646
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.
- --------------------------------------------------------------------------------
770
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.4 years.
The first bond is scheduled to mature in January, 2018, with the last bond
maturity being June, 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
OHIO
INSURED
TRUST 120
Estimated Current Return
6.14% to 6.39%
as of 12/01/94
Estimated Long Term Return
6.30% to 6.54%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 557 Monthly Payment Option
67101Y 565 Quarterly Payment Option
67101Y 573 Semi-Annual Payment Option
Registered in Ohio
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, OHIO INSURED TRUST 120
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 2, 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 City of Akron, Ohio, Waterworks System Mortgage Revenue 2004 at 102 AAA Aaa
Improvement Bonds, Series 1994, 6.00% Due 3/1/14.
500,000 County of Fairfield, Ohio, Hospital Facilities Refunding 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993 (Lancaster-Fairfield Community
Hospital), 5.50% Due 6/15/21.
500,000 The Franklin County Convention Facilities Authority (Ohio), 2002 at 102 AAA Aaa
Tax and Lease Revenue Anticipation Refunding Bonds, Series
1992, 5.85% Due 12/1/19.
275,000 Loveland City School District, Counties of Hamilton, 2002 at 102 AAA Aaa
Clermont and Warren, Ohio, School Improvement General
Obligation Bonds, 7.10% Due 12/1/09.
385,000 County of Lucas, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993 (St. Vincent Medical Center), 5.45% Due
8/15/14.
90,000 Mentor Exempted Village School District, Ohio, General 2003 at 102 AAA Aaa
Obligation, School Improvement Refunding Bonds, Series
1993, 5.375% Due 12/1/11.
500,000 City of Cleveland, Ohio, Public Power System First Mortgage 2004 at 102 AAA Aaa
Revenue Bonds, Series 1994A, 7.00% Due 11/15/24.
250,000 Reynoldsburg City School District, Ohio, General Obligation 2002 at 102 AAA Aaa
Bonds, For School Building Construction and Improvement,
6.55% Due 12/1/17.
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 % $ 96.62 6.14% 6.18% 6.20%
500-999 50,000-99,999 4.75 96.47 6.15 6.19 6.21
1,000-2,499 100,000-249,999 4.50 96.22 6.17 6.20 6.22
2,500-4,999 250,000-499,999 4.25 95.97 6.19 6.22 6.24
5,000-9,999 500,000-999,999 3.50 95.22 6.23 6.27 6.29
10,000-24,999 1,000,000-2,499,999 3.00 94.73 6.27 6.30 6.32
25,000-49,999 2,500,000-4,999,999 2.50 94.25 6.30 6.33 6.35
50,000 and over 5,000,000 and over 2.00 93.77 6.33 6.36 6.39
</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 % $ 96.62 6.30% 6.32% 6.34%
500-999 50,000-99,999 4.75 96.47 6.30 6.33 6.35
1,000-2,499 100,000-249,999 4.50 96.22 6.32 6.35 6.37
2,500-4,999 250,000-499,999 4.25 95.97 6.34 6.36 6.38
5,000-9,999 500,000-999,999 3.50 95.22 6.39 6.42 6.44
10,000-24,999 1,000,000-2,499,999 3.00 94.73 6.42 6.45 6.47
25,000-49,999 2,500,000-4,999,999 2.50 94.25 6.46 6.48 6.50
50,000 and over 5,000,000 and over 2.00 93.77 6.49 6.52 6.54
</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
Ohio 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............. $ .4782(1) $ 5.9364
-------- $.4947 every month --------
Quarterly Distribution Plan........... $ .4782(1) $ .4971(2) $ 1.4913 $ 1.4913 $ 1.4913 $ 5.9684
Semi-Annual Distribution Plan......... $ .4782(1) $ 1.9956(3) $ 2.9934 $ 5.9874
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.01649 per unit per day.
Consequently, on the first Record Date (01/01/95), accrued interest will total
$0.4782 per unit for the 29-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 $.4782 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01649 Quarterly - $0.01657
Semi-Annual - $0.01663
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
770
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.9 years.
The first bond is scheduled to mature in December, 2009, with the last bond
maturity being November, 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.
