<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CONNECTICUT
TRUST 270
(CONNECTICUT TRADITIONAL TRUST 270)
Estimated Current Return
5.99% to 6.23%
as of 12/15/94
Estimated Long Term Return
6.09% to 6.33%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67094E 584 Monthly Payment Option
67094E 592 Quarterly Payment Option
67094E 600 Semi-Annual Payment Option
Registered in Connecticut
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--CONNECTICUT TRADITIONAL TRUST 270
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 16, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 State of Connecticut, Clean Water Fund Revenue Bonds, 1994 2004 at 102 AA+ Aa
Series, 5.80% Due 6/1/16.
500,000 State of Connecticut, General Fund Obligation Bonds, 1994 2004 at 102 AA- A1
Series A, Issued By Connecticut Development Authority,
6.375% Due 10/15/24. (General Obligation Bonds.)
500,000 State of Connecticut, Health and Educational Facilities 2004 at 101 AAA Aaa
Authority, Revenue Bonds, Choate Rosemary Hall Issue,
Series A, 7.00% Due 7/1/25. (MBIA Insured.)
500,000 State of Connecticut, Health and Educational Facilities 2003 at 101 AAA Aaa
Authority Revenue Bonds, Manchester Memorial Hospital
Issue, Series D, 5.75% Due 7/1/22. (MBIA Insured.)
500,000 State of Connecticut, Health and Educational Facilities 2004 at 102 AAA Aaa
Authority, Revenue Bonds, New Britain General Hospital
Issue, Series B, 6.00% Due 7/1/24. (AMBAC Insured.)
500,000 State of Connecticut, Health and Educational Facilities 2004 at 102 AA- A1
Authority, Revenue Bonds, Nursing Home Program Issue,
Series 1994 (St. Camillus Health Center Project), 6.25%
Due 11/1/18. (General Obligation Bonds.)
500,000 State of Connecticut, Special Tax Obligation Bonds, 2004 at 101 AAA Aaa
Transportation Infrastructure Purposes, 1994 Series B,
6.10% Due 10/1/11. (FGIC Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.27 5.99% 6.02% 6.04%
500-999 50,000-99,999 4.75 99.12 6.00 6.03 6.05
1,000-2,499 100,000-249,999 4.50 98.86 6.02 6.05 6.07
2,500-4,999 250,000-499,999 4.25 98.60 6.03 6.06 6.08
5,000-9,999 500,000-999,999 3.50 97.83 6.08 6.11 6.13
10,000-24,999 1,000,000-2,499,999 3.00 97.33 6.11 6.14 6.16
25,000-49,999 2,500,000-4,999,999 2.50 96.83 6.14 6.17 6.19
50,000 and over 5,000,000 and over 2.00 96.34 6.17 6.21 6.23
</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 % $ 99.27 6.09% 6.12% 6.14%
500-999 50,000-99,999 4.75 99.12 6.09 6.13 6.15
1,000-2,499 100,000-249,999 4.50 98.86 6.11 6.15 6.17
2,500-4,999 250,000-499,999 4.25 98.60 6.13 6.16 6.18
5,000-9,999 500,000-999,999 3.50 97.83 6.18 6.22 6.23
10,000-24,999 1,000,000-2,499,999 3.00 97.33 6.21 6.25 6.27
25,000-49,999 2,500,000-4,999,999 2.50 96.83 6.24 6.28 6.30
50,000 and over 5,000,000 and over 2.00 96.34 6.27 6.31 6.33
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Connecticut Traditional Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 2/1 5/1 8/1 11/1
Distribution Date..................... 2/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7429(1) $ 5.9466
-------- $.4953 every month --------
Quarterly Distribution Plan........... $ .7429(1) $ 1.4940(2) $ 1.4940 $ 1.4940 $ 5.9786
Semi-Annual Distribution Plan......... $ .7429(1) $ 1.4994(3) $ 2.9988 $ 5.9976
- ----------------------------------------------------------------------------------------------------------------
<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) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01651 per unit per day.
Consequently, on the first Record Date (02/01/95), accrued interest will total
$0.7429 per unit for the 45-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 02/01/95 is $.7429 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01651 Quarterly - $0.01660
Semi-Annual - $0.01666
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.
- --------------------------------------------------------------------------------
774
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.7 years.
The first bond is scheduled to mature in October, 2011, with the last bond
maturity being July, 2025.
- -------------------------------------------------------
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 57%
AA 43
---
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
MARYLAND
TRUST 302
(MARYLAND TRADITIONAL TRUST 302)
Estimated Current Return
First
Year: 5.92% to 6.15%
Subsequent
Years: 5.93% to 6.17%
as of 12/15/94
Estimated Long Term Return
6.12% to 6.35%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67101L 761 Monthly Payment Option
67101L 779 Quarterly Payment Option
67101L 787 Semi-Annual Payment Option
Registered in Maryland
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--MARYLAND TRADITIONAL TRUST 302
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 16, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Maryland Health and Higher Educational Facilities Authority 2004 at 102 AAA Aaa
Revenue Bonds, Maryland General Hospital Issue, Series
1994, 6.20% Due 7/1/24. (MBIA Insured.)
500,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 A A
Project and Refunding Revenue Bonds, Peninsula Regional
Medical Center Issue, Series 1993, 5.00% Due 7/1/23.
(Original issue discount bonds delivered on or about
October 28, 1993 at a price of 93.41% of principal
amount.)
500,000 University of Maryland System, Auxiliary Facility and 2003 at 102 AA+ Aa
Tuition Revenue Bonds, 1993 Series A, 5.50% Due 4/1/12.
150,000 Maryland Water Quality Financing Administration, Revolving 2004 at 100 AA Aa
Loan Fund Revenue Bonds, Series 1994 A, 6.375% Due 9/1/10.
(When issued.)
350,000 Carroll County, Maryland, General Obligation Bonds, County 2004 at 102 AA- Aa
Commissioners of Carroll County, Consolidated Public
Improvement Bonds of 1994, 6.50% Due 10/1/24.
500,000 Morgan State University, Maryland, Academic Fees and No Optional AAA Aaa
Auxiliary Facilities Fees, Revenue Refunding Bonds, 1993 Call
Series, 6.05% Due 7/1/15. (MBIA Insured.)
500,000 Prince George's County, Maryland, Certificates of 2004 at 102 AAA Aaa
Participation (Real Estate Acquisition Program II), Series
1994, 6.00% Due 9/15/14. (MBIA Insured.)
500,000 Prince George's County, Maryland, Pollution Control Revenue 2003 at 102 A+ A1
Refunding Bonds (Potomac Electric Project), 1993 Series,
6.375% Due 1/15/23.
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 96.21 (5.92%) 5.93% (5.95%) 5.96% (5.97%) 5.98%
500-999 50,000-99,999 4.75 96.06 (5.93) 5.94 (5.96) 5.97 (5.98) 5.99
1,000-2,499 100,000-249,999 4.50 95.81 (5.94) 5.96 (5.98) 5.99 (6.00) 6.01
2,500-4,999 250,000-499,999 4.25 95.56 (5.96) 5.97 (5.99) 6.00 (6.01) 6.02
5,000-9,999 500,000-999,999 3.50 94.82 (6.00) 6.02 (6.04) 6.05 (6.06) 6.07
10,000-24,999 1,000,000-2,499,999 3.00 94.33 (6.04) 6.05 (6.07) 6.08 (6.09) 6.10
25,000-49,999 2,500,000-4,999,999 2.50 93.85 (6.07) 6.08 (6.10) 6.11 (6.12) 6.13
50,000 and over 5,000,000 and over 2.00 93.37 (6.10) 6.11 (6.13) 6.15 (6.15) 6.17
</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 % $ 96.21 6.12% 6.14% 6.16%
500-999 50,000-99,999 4.75 96.06 6.12 6.15 6.17
1,000-2,499 100,000-249,999 4.50 95.81 6.14 6.17 6.19
2,500-4,999 250,000-499,999 4.25 95.56 6.15 6.18 6.20
5,000-9,999 500,000-999,999 3.50 94.82 6.21 6.23 6.25
10,000-24,999 1,000,000-2,499,999 3.00 94.33 6.24 6.27 6.29
25,000-49,999 2,500,000-4,999,999 2.50 93.85 6.27 6.30 6.32
50,000 and over 5,000,000 and over 2.00 93.37 6.30 6.33 6.35
</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
Maryland Traditional Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 2/1 5/1 8/1 11/1
Distribution Date..................... 2/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7132(1) $ 5.7061
-------- $.4755 every month --------
Quarterly Distribution Plan........... $ .7132(1) $ 1.4337(2) $ 1.4337 $ 1.4337 $ 5.7381
Semi-Annual Distribution Plan......... $ .7132(1) $ 1.4391(3) $ 2.8782 $ 5.7571
- ----------------------------------------------------------------------------------------------------------------
<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) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.01585 per unit per day.
Consequently, on the first Record Date (02/01/95), accrued interest will total
$0.7132 per unit for the 45-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 02/01/95 is $.7132 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01585 Quarterly - $0.01593
Semi-Annual - $0.01599
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.
- --------------------------------------------------------------------------------
774
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.2 years.
The first bond is scheduled to mature in September, 2010, 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 43%
AA 29
A1/A+ 14
A 14
---
100%
</TABLE>
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 296
(VIRGINIA TRADITIONAL TRUST 296)
Estimated Current Return
6.09% to 6.33%
as of 12/15/94
Estimated Long Term Return
6.19% to 6.43%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 580 Monthly Payment Option
6706L5 598 Quarterly Payment Option
6706L5 606 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 296
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 16, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Virginia Housing Development Authority, Multi-Family Housing 2003 at 102 AA+ Aa
Bonds, 1993 Series E, 5.70% Due 11/1/12.
350,000 Virginia Public Building Authority, State Building Revenue 2004 at 101 AA Aa
Bonds, Series 1994 A, 6.25% Due 8/1/15.
250,000 Industrial Development Authority of Augusta County, 2003 at 102 AAA Aaa
Virginia, Hospital Refunding Revenue Bonds (Augusta
Hospital Corporation), Series 1993, 5.50% Due 9/1/15.
(AMBAC Insured.)
500,000 Blacksburg-Virginia Polytechnic Institute Sanitation 2004 at 102 A Baa1
Authority (Virginia), Sewer System Revenue Bonds, Series
of 1994, 6.60% Due 11/1/11.
500,000 Industrial Development Authority of 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.
400,000 Prince William County Service Authority (Virginia), Water 2003 at 102 AAA Aaa
and Sewer System Refunding Revenue Bonds, Series 1993,
5.00% Due 7/1/21. (FGIC Insured.)
500,000 Richmond (Virginia), Redevelopment and Housing Authority, 2005 at 102 AAA Aaa
Project Revenue Bonds (1994 Old Manchester Project),
Series 1994, 6.80% Due 3/1/15. (When issued.) (CGIC
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 % $ 99.46 6.09% 6.12% 6.14%
500-999 50,000-99,999 4.75 99.31 6.10 6.13 6.15
1,000-2,499 100,000-249,999 4.50 99.05 6.12 6.15 6.17
2,500-4,999 250,000-499,999 4.25 98.79 6.13 6.17 6.19
5,000-9,999 500,000-999,999 3.50 98.02 6.18 6.21 6.23
10,000-24,999 1,000,000-2,499,999 3.00 97.52 6.21 6.25 6.27
25,000-49,999 2,500,000-4,999,999 2.50 97.02 6.25 6.28 6.30
50,000 and over 5,000,000 and over 2.00 96.52 6.28 6.31 6.33
</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 % $ 99.46 6.19% 6.23% 6.24%
500-999 50,000-99,999 4.75 99.31 6.20 6.24 6.25
1,000-2,499 100,000-249,999 4.50 99.05 6.22 6.26 6.27
2,500-4,999 250,000-499,999 4.25 98.79 6.23 6.27 6.28
5,000-9,999 500,000-999,999 3.50 98.02 6.28 6.32 6.33
10,000-24,999 1,000,000-2,499,999 3.00 97.52 6.32 6.35 6.36
25,000-49,999 2,500,000-4,999,999 2.50 97.02 6.35 6.39 6.40
50,000 and over 5,000,000 and over 2.00 96.52 6.38 6.42 6.43
</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>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 2/1 5/1 8/1 11/1
Distribution Date..................... 2/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7573(1) $ 6.0598
-------- $.5049 every month --------
Quarterly Distribution Plan........... $ .7573(1) $ 1.5228(2) $ 1.5228 $ 1.5228 $ 6.0918
Semi-Annual Distribution Plan......... $ .7573(1) $ 1.5273(3) $ 3.0546 $ 6.1108
- ----------------------------------------------------------------------------------------------------------------
<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) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.01683 per unit per day.
Consequently, on the first Record Date (02/01/95), accrued interest will total
$0.7573 per unit for the 45-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 02/01/95 is $.7573 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01683 Quarterly - $0.01692
Semi-Annual - $0.01697
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.
- --------------------------------------------------------------------------------
774
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.5 years.
The first bond is scheduled to mature in November, 2011, 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 33%
AA 53
A 14
---
100%
</TABLE>
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 286
Estimated Current Return
First
Year: 6.19% to 6.43%
Subsequent
Years: 6.20% to 6.44%
as of 12/15/94
Estimated Long Term Return
6.26% to 6.50%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 464 Monthly Payment Option
6710A3 472 Quarterly Payment Option
6710A3 480 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 286
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT DECEMBER 16, 1994
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$1,500,000 State Public Works Board of the State of California, Lease 2004 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1994 Series A
(California State Prison-Monterey County (Soledad II)),
6.875% Due 11/1/14.
1,000,000 Board of Governors of State Colleges and Universities 2004 at 102 AAA Aaa
(Illinois), Eastern Illinois University, Auxiliary
Facilities System Revenue Bonds, Series 1994A, 6.375% Due
4/1/16.
1,000,000 Metropolitan Pier and Exposition Authority (Illinois), 2003 at 102 AAA Aaa
McCormick Place Expansion Project Bonds, Series 1992A,
6.50% Due 6/15/27.
1,000,000 Lexington-Fayette Urban County Government (Kentucky), 2004 at 102 AAA Aaa
Governmental Project Revenue Bonds, Series 1994
(University of Kentucky Alumni Association, Inc.
Commonwealth Library Project), 6.75% Due 11/1/24. (When
issued.)
1,000,000 Independent School District 622 (North St. Paul- 2005 at 100 AAA Aaa
Maplewood-Oakdale), Minnesota, General Obligation School
Building Bonds, Series 1994A, 7.10% Due 2/1/19.
1,000,000 The Pollution Control Financing Authority of Salem County 2004 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1994 Series B (Public Service Electric and Gas Company
Project), 6.25% Due 6/1/31.
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, 5.375% Due 6/15/19.
1,000,000 Bexar County (Texas), Health Facilities Development 2004 at 102 AAA Aaa
Corporation, Hospital Revenue Bonds (Baptist Memorial
Hospital System Project), Series 1994, 6.75% Due 8/15/19.
(When issued.)
1,000,000 Matagorda County Navigation District Number One (Texas), 2003 at 102 AAA Aaa
Pollution Control Revenue Refunding Bonds (Central Power
and Light Company Project), Series 1993, 6.00% Due 7/1/28.
1,000,000 Washington Public Power Supply System, Nuclear Project No. 1 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993A, 5.70% Due 7/1/17.
----------
$10,000,000
----------
----------
</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 % $ 100.20 (6.19%) 6.20% (6.22%) 6.23% (6.24%) 6.25%
500-999 50,000-99,999 4.75 100.04 (6.20) 6.21 (6.23) 6.24 (6.25) 6.26
1,000-2,499 100,000-249,999 4.50 99.78 (6.22) 6.23 (6.25) 6.26 (6.27) 6.28
2,500-4,999 250,000-499,999 4.25 99.52 (6.23) 6.24 (6.27) 6.27 (6.29) 6.29
5,000-9,999 500,000-999,999 3.50 98.75 (6.28) 6.29 (6.31) 6.32 (6.33) 6.34
10,000-24,999 1,000,000-2,499,999 3.00 98.24 (6.32) 6.32 (6.35) 6.36 (6.37) 6.38
25,000-49,999 2,500,000-4,999,999 2.50 97.73 (6.35) 6.36 (6.38) 6.39 (6.40) 6.41
50,000 and over 5,000,000 and over 2.00 97.23 (6.38) 6.39 (6.41) 6.42 (6.43) 6.44
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.20 6.26% 6.29% 6.31%
500-999 50,000-99,999 4.75 100.04 6.26 6.29 6.31
1,000-2,499 100,000-249,999 4.50 99.78 6.28 6.31 6.33
2,500-4,999 250,000-499,999 4.25 99.52 6.30 6.33 6.35
5,000-9,999 500,000-999,999 3.50 98.75 6.35 6.38 6.40
10,000-24,999 1,000,000-2,499,999 3.00 98.24 6.38 6.41 6.43
25,000-49,999 2,500,000-4,999,999 2.50 97.73 6.42 6.45 6.46
50,000 and over 5,000,000 and over 2.00 97.23 6.45 6.48 6.50
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 2/1 5/1 8/1 11/1
Distribution Date..................... 2/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7762(1) $ 6.2127
-------- $.5175 every month --------
Quarterly Distribution Plan........... $ .7762(1) $ 1.5606(2) $ 1.5606 $ 1.5606 $ 6.2447
Semi-Annual Distribution Plan......... $ .7762(1) $ 1.5651(3) $ 3.1302 $ 6.2637
- ----------------------------------------------------------------------------------------------------------------
<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) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.01725 per unit per day.
Consequently, on the first Record Date (02/01/95), accrued interest will total
$0.7762 per unit for the 45-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 02/01/95 is $.7762 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01725 Quarterly - $0.01734
Semi-Annual - $0.01739
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 10 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 8 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 16.0
Illinois 20.0
Kentucky 10.5
Minnesota 11.0
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New Jersey 9.7
New York 4.2
Texas 19.8
Washington 8.8
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 26.7 years. The first bond is scheduled to mature in
November, 2014, with the last bond maturity being June, 2031.
- -------------------------------------------------
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.
774
