<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 298
(VIRGINIA TRADITIONAL TRUST 298)
Estimated Current Return
5.58% to 5.80%
as of 02/28/95
Estimated Long Term Return
5.62% to 5.85%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 648 Monthly Payment Option
6706L5 655 Quarterly Payment Option
6706L5 663 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 298
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 1, 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 2003 at 102 A+ --
Revenue Refunding Bonds (Hampton University Project),
Series of 1993, 5.75% Due 4/1/14.
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 Fairfax County Economic Development Authority (Virginia), 2004 at 102 AA Aa
Lease Revenue Bonds (Government Center Properties), Series
1994, 5.25% Due 11/15/18. (Original issue discount bonds
delivered on or about March 15, 1994 at a price of 90.996%
of principal amount.)
500,000 Industrial Development Authority of Fairfax County, No Optional AAA Aaa
Virginia, Hospital Revenue Refunding Bonds (Inova Health Call
System Hospitals Project), Series 1993A, 5.00% Due
8/15/11. (AMBAC Insured.)
500,000 City of Norfolk, Virginia, Water Revenue Bonds, Series 1993, 2003 at 102 AAA Aaa
5.375% Due 11/1/23. (AMBAC Insured.)
500,000 Industrial Development Authority of the County of Prince 2005 at 102 -- A
William (Virginia), Hospital Facility Revenue Bonds
(Potomac Hospital Corporation of Prince William), Series
1995, 6.85% Due 10/1/25.
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.)
----------
$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 % $ 100.78 5.58% 5.61% 5.63%
500-999 50,000-99,999 4.75 100.62 5.59 5.62 5.64
1,000-2,499 100,000-249,999 4.50 100.36 5.61 5.64 5.66
2,500-4,999 250,000-499,999 4.25 100.09 5.62 5.65 5.67
5,000-9,999 500,000-999,999 3.50 99.32 5.66 5.70 5.72
10,000-24,999 1,000,000- 2,499,999 3.00 98.80 5.69 5.73 5.75
25,000-49,999 2,500,000- 4,999,999 2.50 98.30 5.72 5.76 5.78
50,000 and over 5,000,000 and over 2.00 97.80 5.75 5.79 5.80
</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 % $ 100.78 5.62% 5.66% 5.68%
500-999 50,000-99,999 4.75 100.62 5.63 5.66 5.68
1,000-2,499 100,000-249,999 4.50 100.36 5.64 5.68 5.70
2,500-4,999 250,000-499,999 4.25 100.09 5.66 5.69 5.71
5,000-9,999 500,000-999,999 3.50 99.32 5.70 5.74 5.76
10,000-24,999 1,000,000- 2,499,999 3.00 98.80 5.73 5.77 5.79
25,000-49,999 2,500,000- 4,999,999 2.50 98.30 5.76 5.80 5.82
50,000 and over 5,000,000 and over 2.00 97.80 5.79 5.83 5.85
</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*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4686(1) $ 5.6261
-------- $.4686 every month --------
Quarterly Distribution Plan........... $ .4686(1) $ .4713(2) $ 1.4139 $ 1.4139 $ 5.6581
Semi-Annual Distribution Plan......... $ .4686(1) $ .4728(3) $ 2.8368 $ 5.6771
- ----------------------------------------------------------------------------------------------------------------
<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 1-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 (04/01/95), accrued interest will total
$0.4686 per unit for the 30-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 04/01/95 is $.4686 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.
- --------------------------------------------------------------------------------
787
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.0 years.
The first bond is scheduled to mature in August, 2011, with the last bond
maturity being October, 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 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
FLORIDA
INSURED
TRUST 206
Estimated Current Return
5.42% to 5.63%
as of 02/28/95
Estimated Long Term Return
5.53% to 5.74%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 762 Monthly Payment Option
6706H3 770 Quarterly Payment Option
6706H3 788 Semi-Annual Payment Option
Registered in Florida
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, FLORIDA INSURED TRUST 206
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 1, 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 State of Florida, Department of Environmental Protection, 2004 at 101 AAA Aaa
Preservation 2000 Revenue Bonds, Series 1994A, 4.90% Due
7/1/13.
500,000 State of Florida, Department of Transportation, Turnpike 2003 at 101 AAA Aaa
Revenue Refunding Bonds, Series 1993A, 5.00% Due 7/1/14.
(Original issue discount bonds delivered on or about May
27, 1993 at a price of 92.622% of principal amount.)
500,000 Dade County Educational Facilities Authority, Florida 2003 at 102 AAA Aaa
International University Project, Revenue and Revenue
Refunding Bonds, Series 1993, 5.125% Due 10/1/13.
500,000 Hillsborough County Industrial Development Authority 2004 at 102 AAA Aaa
(Florida), Pollution Control Revenue Refunding Bonds
(Tampa Electric Company Project), Series 1994, 6.25% Due
12/1/34.
500,000 Orange County, Florida, Tourist Development Tax Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.00% Due 10/1/24.
500,000 City of Plant City, Florida, Utility System Refunding and 2004 at 101 AAA Aaa
Improvement Revenue Bonds, Series 1995, 6.00% Due 10/1/20.
(When issued.)
500,000 City of Tampa, Florida, Allegany Health System Revenue 2003 at 102 AAA Aaa
Bonds, St. Mary's Hospital, Inc. Issue, Series 1993,
5.125% Due 12/1/23. (Original issue discount bonds
delivered on or about January 4, 1994 at a price of
94.522% of principal amount.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2004 at 101 AAA Aaa
1994 (General Obligation Bonds), 6.45% Due 7/1/17. 1/2
----------
$4,000,000
----------
----------
</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 % $ 99.48 5.42% 5.45% 5.47%
500-999 50,000-99,999 4.75 99.33 5.42 5.46 5.48
1,000-2,499 100,000-249,999 4.50 99.07 5.44 5.47 5.49
2,500-4,999 250,000-499,999 4.25 98.81 5.45 5.48 5.50
5,000-9,999 500,000-999,999 3.50 98.04 5.50 5.53 5.55
10,000-24,999 1,000,000- 2,499,999 3.00 97.54 5.52 5.56 5.58
25,000-49,999 2,500,000- 4,999,999 2.50 97.04 5.55 5.58 5.60
50,000 and over 5,000,000 and over 2.00 96.54 5.58 5.61 5.63
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.48 5.53% 5.56% 5.57%
500-999 50,000-99,999 4.75 99.33 5.53 5.57 5.58
1,000-2,499 100,000-249,999 4.50 99.07 5.55 5.59 5.60
2,500-4,999 250,000-499,999 4.25 98.81 5.56 5.60 5.61
5,000-9,999 500,000-999,999 3.50 98.04 5.61 5.65 5.66
10,000-24,999 1,000,000- 2,499,999 3.00 97.54 5.64 5.68 5.68
25,000-49,999 2,500,000- 4,999,999 2.50 97.04 5.67 5.70 5.71
50,000 and over 5,000,000 and over 2.00 96.54 5.69 5.73 5.74
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a
monthly, quarterly, or semi-annual basis. Record Dates are May 1 and November 1
for semi-annual distributions; February 1, May 1, August 1 and November 1 for
quarterly distributions; and the first of each month for monthly distributions.
Details of interest distributions per unit under the various plans appear in the
following table based upon estimated net annual interest income at the Date of
Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Florida Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4488(1) $ 5.3874
-------- $.4488 every month --------
Quarterly Distribution Plan........... $ .4488(1) $ .4515(2) $ 1.3545 $ 1.3545 $ 5.4194
Semi-Annual Distribution Plan......... $ .4488(1) $ .4530(3) $ 2.7180 $ 5.4384
- ----------------------------------------------------------------------------------------------------------------
<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 1-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 $.01496 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.4488 per unit for the 30-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 04/01/95 is $.4488 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01496 Quarterly - $0.01505
Semi-Annual - $0.01510
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.
- --------------------------------------------------------------------------------
787
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.3 years.
The first bond is scheduled to mature in July, 2013, with the last bond maturity
being December, 2034.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW YORK
INSURED
TRUST 232
Estimated Current Return
5.51% to 5.73%
as of 02/28/95
Estimated Long Term Return
5.56% to 5.79%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101K 250 Monthly Payment Option
67101K 268 Quarterly Payment Option
67101K 276 Semi-Annual Payment Option
Registered in New York, Connecticut & Florida
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NEW YORK INSURED TRUST 232
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 1, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 600,000 Dormitory Authority of the State of New York, Mount Sinai No Optional AAA Aaa
School of Medicine, Insured Revenue Bonds, Series 1994A, Call
5.15% Due 7/1/24.
385,000 New York State Energy Research and Development Authority, 2004 at 102 AAA Aaa
Pollution Control Refunding Revenue Bonds (New York State
Electric & Gas Corporation Project), 1994 Series A, 6.05%
Due 4/1/34.
385,000 New York (New York), Local Government Assistance No Optional AAA Aaa
Corporation, Series 1993E Refunding Bonds, 5.00% Due Call
4/1/21. (Original issue discount bonds delivered on or
about December 23, 1993 at a price of 94.588% of principal
amount.)
600,000 New York State Medical Care Facilities Finance Agency, 2004 at 102 AAA Aaa
Mental Health Services Facilities Improvement Revenue
Bonds, 1994 Series E, 6.375% Due 8/15/14. (General
Obligation Bonds.)
250,000 New York State Medical Care Facilities Finance Agency, New 2005 at 102 AAA Aaa
York Hospital FHA-Insured Mortgage Revenue Bonds, 1994
Series A, 6.50% Due 8/15/29. (Original issue discount
bonds delivered on or about January 12, 1995 at a price of
94.014% of principal amount.)
230,000 New York State Urban Development Corporation, Correctional 2004 at 102 AAA Aaa
Capital Facilities Revenue Bonds, 1993A Refunding Series,
5.25% Due 1/1/21. (Original issue discount bonds delivered
on or about January 4, 1994 at a price of 92.542% of
principal amount.)
350,000 Metropolitan Transportation Authority, New York, Transit No Optional AAA Aaa
Facilities Service Contract Bonds, Series O, 5.75% Due Call
7/1/13.
600,000 City of New Rochelle, Westchester County, New York, General 2004 at 102 AAA Aaa
Obligations, Public Improvement Bonds, 1994 Series B,
6.20% Due 8/15/21.
600,000 The City of New York (New York), General Obligation Bonds, 2003 at 101 AAA Aaa
Fiscal 1994 Series C, 5.50% Due 10/1/15. 1/2
----------
$4,000,000
----------
----------
</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 % $ 100.48 5.51% 5.54% 5.56%
500-999 50,000-99,999 4.75 100.33 5.52 5.55 5.57
1,000-2,499 100,000-249,999 4.50 100.06 5.54 5.57 5.59
2,500-4,999 250,000-499,999 4.25 99.80 5.55 5.58 5.60
5,000-9,999 500,000-999,999 3.50 99.03 5.59 5.63 5.65
10,000-24,999 1,000,000- 2,499,999 3.00 98.52 5.62 5.65 5.67
25,000-49,999 2,500,000- 4,999,999 2.50 98.01 5.65 5.68 5.70
50,000 and over 5,000,000 and over 2.00 97.51 5.68 5.71 5.73
</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 % $ 100.48 5.56% 5.60% 5.62%
500-999 50,000-99,999 4.75 100.33 5.57 5.61 5.63
1,000-2,499 100,000-249,999 4.50 100.06 5.59 5.63 5.64
2,500-4,999 250,000-499,999 4.25 99.80 5.60 5.64 5.66
5,000-9,999 500,000-999,999 3.50 99.03 5.65 5.68 5.70
10,000-24,999 1,000,000- 2,499,999 3.00 98.52 5.68 5.71 5.73
25,000-49,999 2,500,000- 4,999,999 2.50 98.01 5.70 5.74 5.76
50,000 and over 5,000,000 and over 2.00 97.51 5.73 5.77 5.79
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
New York Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4614(1) $ 5.5393
-------- $.4614 every month --------
Quarterly Distribution Plan........... $ .4614(1) $ .4641(2) $ 1.3923 $ 1.3923 $ 5.5713
Semi-Annual Distribution Plan......... $ .4614(1) $ .4656(3) $ 2.7936 $ 5.5903
- ----------------------------------------------------------------------------------------------------------------
<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 1-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 $.01538 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.4614 per unit for the 30-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 04/01/95 is $.4614 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01538 Quarterly - $0.01547
Semi-Annual - $0.01552
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.
- --------------------------------------------------------------------------------
787
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.9 years.
The first bond is scheduled to mature in July, 2013, with the last bond maturity
being April, 2034.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
TENNESSEE
INSURED
TRUST 27
Estimated Current Return
5.39% to 5.61%
as of 02/28/95
Estimated Long Term Return
5.48% to 5.69%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064V 103 Monthly Payment Option
67064V 111 Quarterly Payment Option
67064V 129 Semi-Annual Payment Option
Registered in Tennessee
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, TENNESSEE INSURED TRUST 27
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 1, 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 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% of principal
amount.)
500,000 The Health and Educational Facilities Board of the City of 2003 at 102 AAA Aaa
Bristol, Tennessee, Hospital Revenue Refunding Bonds,
Series 1993 (Bristol Memorial Hospital), 5.25% Due 9/1/21.
(Original issue discount bonds delivered on or about
September 2, 1993 at a price of 94.676% of principal
amount.)
500,000 City of Johnson City, Tennessee, School Sales Tax Revenue 2006 at 100 AAA Aaa
and Unlimited Tax Bonds, Series 1994, 6.70% Due 5/1/21.
(General Obligation Bonds.)
500,000 The Health, Educational and Housing Facilities Board of the 2004 at 102 AAA Aaa
County of Knox (Tennessee), Hospital Revenue Bonds, Series
1993A (Fort Sanders Alliance Obligated Group), 5.25% Due
1/1/13.
500,000 Knox-Chapman Utility District of Knox County, Tennessee, 2004 at 102 AAA Aaa
Water and Sewer Revenue Refunding Bonds, Series 1994,
6.10% Due 1/1/19.
500,000 Memphis-Shelby County Airport Authority (Tennessee), Airport 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.65% Due 9/1/15.
500,000 The Metropolitan Government of Nashville and Davidson County 2003 at 100 AAA Aaa
(Tennessee), Water and Sewer Revenue Refunding Bonds,
Series 1993, 5.10% Due 1/1/16. (Original issue discount
bonds delivered on or about August 4, 1993 at a price of
93.354% of principal amount.)
----------
$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 % $ 100.09 5.39% 5.43% 5.44%
500-999 50,000-99,999 4.75 99.94 5.40 5.43 5.45
1,000-2,499 100,000-249,999 4.50 99.68 5.42 5.45 5.47
2,500-4,999 250,000-499,999 4.25 99.42 5.43 5.46 5.48
5,000-9,999 500,000-999,999 3.50 98.64 5.47 5.51 5.52
10,000-24,999 1,000,000- 2,499,999 3.00 98.13 5.50 5.53 5.55
25,000-49,999 2,500,000- 4,999,999 2.50 97.63 5.53 5.56 5.58
50,000 and over 5,000,000 and over 2.00 97.13 5.56 5.59 5.61
</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 % $ 100.09 5.48% 5.51% 5.53%
500-999 50,000-99,999 4.75 99.94 5.48 5.51 5.53
1,000-2,499 100,000-249,999 4.50 99.68 5.50 5.53 5.55
2,500-4,999 250,000-499,999 4.25 99.42 5.51 5.54 5.56
5,000-9,999 500,000-999,999 3.50 98.64 5.56 5.59 5.61
10,000-24,999 1,000,000- 2,499,999 3.00 98.13 5.59 5.62 5.64
25,000-49,999 2,500,000- 4,999,999 2.50 97.63 5.62 5.65 5.67
50,000 and over 5,000,000 and over 2.00 97.13 5.65 5.67 5.69
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Tennessee Insured Trust 1995 per Year +
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------ --------------
Record Date*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4497(1) $ 5.3984
-------- $.4497 every month --------
Quarterly Distribution Plan........... $ .4497(1) $ .4524(2) $ 1.3572 $ 1.3572 $ 5.4304
Semi-Annual Distribution Plan......... $ .4497(1) $ .4539(3) $ 2.7234 $ 5.4494
- ----------------------------------------------------------------------------------------------------------------
<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 1-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 $.01499 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.4497 per unit for the 30-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 04/01/95 is $.4497 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01499 Quarterly - $0.01508
Semi-Annual - $0.01513
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.
- --------------------------------------------------------------------------------
787
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.7 years.
The first bond is scheduled to mature in January, 2013, with the last bond
maturity being September, 2021.
- -------------------------------------------------------
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.
