<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 297
(VIRGINIA TRADITIONAL TRUST 297)
Estimated Current Return
First
Year: 5.93% to 6.16%
Subsequent
Years: 5.95% to 6.18%
as of 01/18/95
Estimated Long Term Return
6.01% to 6.24%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 614 Monthly Payment Option
6706L5 622 Quarterly Payment Option
6706L5 630 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 297
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 19, 1995
- --------------------------------------------------------------------------------
<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 College Building Authority, Educational Facilities 2004 at 102 AA Aa
Revenue Bonds (The Washington and Lee University Project),
Series of 1994, 5.80% Due 1/1/24.
500,000 Virginia Housing Development Authority, Multi-Family Housing 2003 at 102 AA+ Aa
Bonds, 1993 Series E, 5.90% Due 11/1/17.
500,000 Industrial Development Authority of Danville, Virginia, 2004 at 101 AAA Aaa
Hospital Revenue Bonds, Danville Regional Medical Center,
Series 1994, 6.375% Due 10/1/14. (FGIC Insured.)
135,000 Industrial Development Authority of Fairfax County, No Optional AA- Aa
Virginia, Hospital Revenue Refunding Bonds (Inova Health Call
System Hospitals Project), Series 1993A, 5.00% Due
8/15/23. (Original issue discount bonds delivered on or
about November 3, 1993 at a price of 94.807% of principal
amount.)
500,000 Industrial Development Authority of the County of Henrico, 2005 at 102 AA Aa
Virginia, Public Facility Lease Revenue Bonds (Henrico
County Regional Jail Project), Series 1994, 7.125% Due
8/1/21.
425,000 Industrial Development Authority of the County of Prince 2003 at 102 -- A
William (Virginia), Hospital Revenue Refunding Bonds
(Prince William Hospital), Series 1993, 5.25% Due 4/1/19.
(Original issue discount bonds delivered on or about July
29, 1993 at a price of 92.543% of principal amount.)
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. (CGIC Insured.)
440,000 City of Virginia Beach, Virginia, General Obligation Public 2004 at 102 AA Aa
Improvement Bonds, Series of 1995, 6.20% Due 9/1/13. (When
issued.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.98 (5.93%) 5.95% (5.96%) 5.98% (5.98%) 6.00%
500-999 50,000-99,999 4.75 99.82 (5.94) 5.96 (5.97) 5.99 (5.99) 6.01
1,000-2,499 100,000-249,999 4.50 99.56 (5.95) 5.97 (5.98) 6.01 (6.00) 6.03
2,500-4,999 250,000-499,999 4.25 99.30 (5.97) 5.99 (6.00) 6.02 (6.02) 6.04
5,000-9,999 500,000-999,999 3.50 98.53 (6.01) 6.04 (6.05) 6.07 (6.07) 6.09
10,000-24,999 1,000,000-2,499,999 3.00 98.02 (6.05) 6.07 (6.08) 6.10 (6.10) 6.12
25,000-49,999 2,500,000-4,999,999 2.50 97.52 (6.08) 6.10 (6.11) 6.13 (6.13) 6.15
50,000 and over 5,000,000 and over 2.00 97.02 (6.11) 6.13 (6.14) 6.16 (6.16) 6.18
</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 % $ 99.98 6.01% 6.04% 6.06%
500-999 50,000-99,999 4.75 99.82 6.02 6.05 6.06
1,000-2,499 100,000-249,999 4.50 99.56 6.04 6.06 6.08
2,500-4,999 250,000-499,999 4.25 99.30 6.05 6.08 6.10
5,000-9,999 500,000-999,999 3.50 98.53 6.10 6.13 6.15
10,000-24,999 1,000,000-2,499,999 3.00 98.02 6.13 6.16 6.18
25,000-49,999 2,500,000-4,999,999 2.50 97.52 6.16 6.19 6.21
50,000 and over 5,000,000 and over 2.00 97.02 6.19 6.22 6.24
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Virginia Traditional Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 3/1 5/1 8/1 11/1
Distribution Date..................... 3/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6938(1) $ 5.9477
-------- $.4956 every month --------
Quarterly Distribution Plan........... $ .6938(1) $ .9966(2) $ 1.4949 $ 1.4949 $ 5.9797
Semi-Annual Distribution Plan......... $ .6938(1) $ .9996(3) $ 2.9988 $ 5.9987
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01652 per unit per day.
Consequently, on the first Record Date (03/01/95), accrued interest will total
$0.6938 per unit for the 42-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 03/01/95 is $.6938 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01652 Quarterly - $0.01661
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.
- --------------------------------------------------------------------------------
779
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.3 years.
The first bond is scheduled to mature in September, 2013, with the last bond
maturity being January, 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 29%
AA 59
A 12
---
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 288
Estimated Current Return
6.05% to 6.28%
as of 01/18/95
Estimated Long Term Return
6.07% to 6.30%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 522 Monthly Payment Option
6710A3 530 Quarterly Payment Option
6710A3 548 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 288
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 19, 1995
- --------------------------------------------------------------------------------
<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)),
7.00% Due 11/1/19.
300,000 City of Chicago (Illinois), Wastewater Transmission Revenue 2005 at 102 AAA Aaa
Bonds, Series 1994, 6.375% Due 1/1/24.
1,000,000 Illinois Development Finance Authority, Pollution Control 2003 at 102 AAA Aaa
Revenue Refunding Bonds (Central Illinois Public Service
Company), 1993 Series B-2, 5.90% Due 6/1/28.
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 C (Public Service Electric and Gas Company
Project), 6.20% Due 8/1/30.
1,000,000 New York State Medical Care Facilities Finance Agency, New 2005 at 102 AAA Aaa
York Hospital FHA-Insured Mortgage Revenue Bonds, 1994
Series A, 6.80% Due 8/15/24.
500,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.60% Due 6/15/15.
1,000,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series B
(Pennsylvania Power & Light Company Project), 6.40% Due
9/1/29.
700,000 Harris County Health Facilities (Texas), Development 2004 at 101 AAA Aaa
Corporation Hospital Revenue Bonds (Hermann Hospital),
Series 1994, 6.375% Due 10/1/24.
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.
1,000,000 King County, Washington, Department of Metropolitan 2004 at 102 AAA Aaa
Services, General Obligation Sewer Revenue Bonds, 1994
Series A, 6.25% Due 1/1/34.
1,000,000 Washington Public Power Supply System, Nuclear Project No. 3 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993B, 5.60% Due 7/1/15.
----------
$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>
50-499 $5,000-$49,999 4.90 % $ 101.55 6.05% 6.08% 6.10%
500-999 50,000-99,999 4.75 101.39 6.06 6.09 6.11
1,000-2,499 100,000-249,999 4.50 101.12 6.07 6.10 6.12
2,500-4,999 250,000-499,999 4.25 100.86 6.09 6.12 6.14
5,000-9,999 500,000-999,999 3.50 100.07 6.14 6.17 6.19
10,000-24,999 1,000,000-2,499,999 3.00 99.56 6.17 6.20 6.22
25,000-49,999 2,500,000-4,999,999 2.50 99.05 6.20 6.23 6.25
50,000 and over 5,000,000 and over 2.00 98.54 6.23 6.26 6.28
</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 % $ 101.55 6.07% 6.10% 6.12%
500-999 50,000-99,999 4.75 101.39 6.07 6.10 6.12
1,000-2,499 100,000-249,999 4.50 101.12 6.09 6.12 6.14
2,500-4,999 250,000-499,999 4.25 100.86 6.11 6.13 6.15
5,000-9,999 500,000-999,999 3.50 100.07 6.16 6.19 6.21
10,000-24,999 1,000,000-2,499,999 3.00 99.56 6.19 6.22 6.24
25,000-49,999 2,500,000-4,999,999 2.50 99.05 6.22 6.25 6.27
50,000 and over 5,000,000 and over 2.00 98.54 6.25 6.28 6.30
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 3/1 5/1 8/1 11/1
Distribution Date..................... 3/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .7161(1) $ 6.1409
-------- $.5115 every month --------
Quarterly Distribution Plan........... $ .7161(1) $ 1.0284(2) $ 1.5426 $ 1.5426 $ 6.1729
Semi-Annual Distribution Plan......... $ .7161(1) $ 1.0314(3) $ 3.0942 $ 6.1919
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01705 per unit per day.
Consequently, on the first Record Date (03/01/95), accrued interest will total
$0.7161 per unit for the 42-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 03/01/95 is $.7161 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01705 Quarterly - $0.01714
Semi-Annual - $0.01719
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 11 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 7 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 16.5
Illinois 12.3
New Jersey 9.8
New York 10.7
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Pennsylvania 14.5
Texas 17.6
Washington 18.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 29.4 years. The first bond is scheduled to mature in June,
2015, with the last bond maturity being January, 2034.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
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.
779
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 240
Estimated Current Return
5.87% to 6.10%
as of 01/18/95
Estimated Long Term Return
6.01% to 6.25%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064U 675 Monthly Payment Option
67064U 683 Quarterly Payment Option
67064U 691 Semi-Annual Payment Option
Registered in California
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, CALIFORNIA INSURED TRUST 240
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JANUARY 19, 1995
- --------------------------------------------------------------------------------
<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>
--------------------------------------------------------------------------------------------------------------------------
$ 165,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Hospital Refunding Revenue Certificates of Participation,
Cedars-Sinai Medical Center, Series 1993, 5.25% Due
11/1/17.
235,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Certificates of Participation, Sutter Health Obligated
Group, 5.50% Due 8/15/23.
500,000 State Public Works Board of the State of California, Lease 2004 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1994 Series A
(California State Prison-Monterey County (Soledad II)),
7.00% Due 11/1/19.
500,000 The Regents of the University of California, Refunding 2003 at 102 AAA Aaa
Revenue Bonds (1989 Multiple Purpose Projects), Series C,
5.25% Due 9/1/16.
500,000 The City of Los Angeles (California), Wastewater System 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993-B, 5.70% Due 6/1/23.
500,000 Department of Water and Power of The City of Los Angeles 2003 at 102 AAA Aaa
(California), Electric Plant Refunding Revenue Bonds,
Issue of 1993, 5.375% Due 9/1/23. (Original issue discount
bonds delivered on or about April 15, 1993 at a price of
93.281% of principal amount.)
100,000 Sacramento Municipal Utility District (California), Electric 2003 at 102 AAA Aaa
Revenue Bonds, 1993 Series E, 5.75% Due 5/15/22.
500,000 County of Sacramento, California (Sacramento County Public 2003 at 102 AAA Aaa
Facilities Financing Corporation), Refunding Certificates
of Participation (Sacramento Main Detention Facility
Project), 5.75% Due 6/1/15.
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 % $ 95.85 5.87% 5.90% 5.92%
500-999 50,000-99,999 4.75 95.70 5.88 5.91 5.93
1,000-2,499 100,000-249,999 4.50 95.45 5.89 5.93 5.95
2,500-4,999 250,000-499,999 4.25 95.20 5.91 5.94 5.96
5,000-9,999 500,000-999,999 3.50 94.46 5.96 5.99 6.01
10,000-24,999 1,000,000-2,499,999 3.00 93.97 5.99 6.02 6.04
25,000-49,999 2,500,000-4,999,999 2.50 93.49 6.02 6.05 6.07
50,000 and over 5,000,000 and over 2.00 93.01 6.05 6.08 6.10
</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 % $ 95.85 6.01% 6.05% 6.07%
500-999 50,000-99,999 4.75 95.70 6.02 6.06 6.07
1,000-2,499 100,000-249,999 4.50 95.45 6.04 6.07 6.09
2,500-4,999 250,000-499,999 4.25 95.20 6.05 6.09 6.11
5,000-9,999 500,000-999,999 3.50 94.46 6.10 6.14 6.16
10,000-24,999 1,000,000-2,499,999 3.00 93.97 6.13 6.17 6.19
25,000-49,999 2,500,000-4,999,999 2.50 93.49 6.16 6.20 6.22
50,000 and over 5,000,000 and over 2.00 93.01 6.19 6.23 6.25
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
California Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 3/1 5/1 8/1 11/1
Distribution Date..................... 3/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6560(1) $ 5.6252
-------- $.4686 every month --------
Quarterly Distribution Plan........... $ .6560(1) $ .9426(2) $ 1.4139 $ 1.4139 $ 5.6572
Semi-Annual Distribution Plan......... $ .6560(1) $ .9456(3) $ 2.8368 $ 5.6762
- ----------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01562 per unit per day.
Consequently, on the first Record Date (03/01/95), accrued interest will total
$0.6560 per unit for the 42-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 03/01/95 is $.6560 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01562 Quarterly - $0.01571
Semi-Annual - $0.01576
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.
- --------------------------------------------------------------------------------
779
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.5 years.
The first bond is scheduled to mature in June, 2015, with the last bond maturity
being September, 2023.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
