<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 292
Estimated Current Return
5.60% to 5.82%
as of 03/14/95
Estimated Long Term Return
5.66% to 5.88%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A3 647 Monthly Payment Option
6710A3 654 Quarterly Payment Option
6710A3 662 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 292
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 15, 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>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 California Statewide Communities Development Authority, 2004 at 100 AAA Aaa
Insured Revenue Certificates of Participation (Childrens
Hospital of Los Angeles), Series 1993, 4.75% Due 6/1/21.
(Original issue discount bonds delivered on or about
December 23, 1993 at a price of 90.749% of principal
amount.)
1,000,000 City of Los Angeles, California, Wastewater System Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994-A, 5.875% Due 6/1/24.
1,000,000 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.
425,000 Illinois Educational Facilities Authority, Revenue Bonds, 2003 at 102 AAA Aaa
Illinois Wesleyan University, Series 1993, 5.70% Due
9/1/23.
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series 2004 at 102 AAA Aaa
1994A (The University of Chicago Hospitals Project),
6.125% Due 8/15/21.
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series 2004 at 102 AAA Aaa
1994 (Ingalls Health System Project), 6.25% Due 5/15/24.
1,000,000 City of Indianapolis, Indiana, Gas Utility System Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994 A, 5.875% Due 6/1/24.
1,000,000 The Commonwealth of Massachusetts, General Obligation Bonds, 2004 at 102 AAA Aaa
Consolidated Loan of 1994, Series B, 6.00% Due 8/1/13.
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.
500,000 Dormitory Authority of the State of New York, City No Optional AAA Aaa
University System Consolidated Second General Resolution Call
Revenue Bonds, Series 1993A, 5.75% Due 7/1/13.
325,000 Dormitory Authority of the State of New York, Mount Sinai 2004 at 102 AAA Aaa
School of Medicine, Insured Revenue Bonds, Series 1994A,
5.00% Due 7/1/21.
500,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
250,000 Allegheny County Hospital Development Authority 2005 at 102 AAA Aaa
(Commonwealth of Pennsylvania), Hospital Revenue Bonds,
Series A of 1995 (Allegheny General Hospital Project),
6.25% Due 9/1/20. (When issued.)
----------
$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 % $ 100.99 5.60% 5.63% 5.65%
500-999 50,000-99,999 4.75 100.83 5.61 5.64 5.66
1,000-2,499 100,000-249,999 4.50 100.57 5.62 5.65 5.67
2,500-4,999 250,000-499,999 4.25 100.30 5.64 5.67 5.69
5,000-9,999 500,000-999,999 3.50 99.52 5.68 5.71 5.73
10,000-24,999 1,000,000- 2,499,999 3.00 99.01 5.71 5.74 5.76
25,000-49,999 2,500,000- 4,999,999 2.50 98.50 5.74 5.77 5.79
50,000 and over 5,000,000 and over 2.00 98.00 5.77 5.80 5.82
</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 % $ 100.99 5.66% 5.69% 5.71%
500-999 50,000-99,999 4.75 100.83 5.66 5.69 5.71
1,000-2,499 100,000-249,999 4.50 100.57 5.68 5.71 5.73
2,500-4,999 250,000-499,999 4.25 100.30 5.69 5.72 5.74
5,000-9,999 500,000-999,999 3.50 99.52 5.74 5.77 5.79
10,000-24,999 1,000,000- 2,499,999 3.00 99.01 5.77 5.80 5.82
25,000-49,999 2,500,000- 4,999,999 2.50 98.50 5.80 5.83 5.85
50,000 and over 5,000,000 and over 2.00 98.00 5.83 5.86 5.88
</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*.......................... 4/1 5/1 8/1 11/1
Distribution Date..................... 4/15 5/15 8/15 11/15
- ----------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2512(1) $ 5.6549
-------- $.4710 every month --------
Quarterly Distribution Plan........... $ .2512(1) $ .4737(2) $ 1.4211 $ 1.4211 $ 5.6869
Semi-Annual Distribution Plan......... $ .2512(1) $ .4752(3) $ 2.8512 $ 5.7059
- ----------------------------------------------------------------------------------------------------------------
<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 $.01570 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.2512 per unit for the 16-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 $.2512 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01570 Quarterly - $0.01579
Semi-Annual - $0.01584
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 13 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 18.1
Florida 10.7
Illinois 25.2
Indiana 10.0
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
Massachusetts 10.2
New Jersey 10.6
New York 7.7
Pennsylvania 7.5
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 28.4 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.
- -------------------------------------------------
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.
790
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
INTERMEDIATE
INSURED
TRUST 78
Estimated Current Return
First
Year: 4.87% to 5.01%
Subsequent
Years: 4.88% to 5.03%
as of 03/14/95
Estimated Long Term Return
5.06% to 5.21%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67093H 869 Monthly Payment Option
67093H 877 Quarterly Payment Option
67093H 885 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, INTERMEDIATE INSURED TRUST 78
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 15, 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 City of Walnut Creek, California, Certificates of 2004 at 102 AAA Aaa
Participation, Refunding Series 1994 (John Muir Medical
Center), 4.95% Due 2/15/05.
750,000 State of Connecticut, Special Tax Obligation Bonds, 2004 at 101 AAA Aaa
Transportation Infrastructure Purposes, 1994 Series B,
5.60% Due 10/1/05.
575,000 City and County of Honolulu, Hawaii, General Obligation No Optional AAA Aaa
Bonds, Refunding and Improvement Series, 1993B, 5.20% Due Call
10/1/04.
1,000,000 Metropolitan Water Reclamation District of Greater Chicago, No Optional AAA Aaa
Cook County, Illinois, General Obligation Refunding Bonds, Call
Series of August, 1992, 5.75% Due 12/1/04.
375,000 Clark County School District, Las Vegas, Nevada, General No Optional AAA Aaa
Obligation Refunding Bonds, Series 1991B, 0.00% Due Call
3/1/05. (Original issue discount bonds delivered on or
about December 26, 1991 at a price of 41.158% of principal
amount.)
550,000 New Jersey Economic Development Authority, Market Transition 2004 at 102 AAA Aaa
Facility Senior Lien Revenue Bonds, Series 1994A, 5.70%
Due 7/1/05.
750,000 New York City (New York), Municipal Water Finance Authority, No Optional AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal Call
1994 Series B, 5.125% Due 6/15/04.
750,000 Allegheny County Hospital Development Authority No Optional AAA Aaa
(Commonwealth of Pennsylvania), Hospital Revenue Bonds, Call
Series A of 1995 (Allegheny General Hospital Project),
5.55% Due 9/1/05. (When issued.)
750,000 Commonwealth of Puerto Rico, Public Improvement Refunding No Optional AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.30% Due Call
7/1/04.
750,000 Riverside Regional Jail Authority (Virginia), Jail Facility No Optional AAA Aaa
Revenue Bonds, Series 1995, 5.50% Due 7/1/05. (When Call
issued.)
750,000 Washington Public Power Supply System, Nuclear Project No. 1 No Optional AAA Aaa
Refunding Revenue Bonds, Series 1993B, 5.40% Due 7/1/05. Call
----------
$7,500,000
----------
----------
</TABLE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.90 % $ 101.61 (4.87%) 4.88% (4.90%) 4.91% (4.92%) 4.93%
500-999 50,000-99,999 3.70 101.40 (4.88) 4.89 (4.91) 4.92 (4.93) 4.94
1,000-2,499 100,000-249,999 3.50 101.19 (4.89) 4.90 (4.92) 4.93 (4.94) 4.95
2,500-4,999 250,000-499,999 3.25 100.93 (4.90) 4.91 (4.93) 4.94 (4.95) 4.96
5,000-9,999 500,000-999,999 3.00 100.67 (4.91) 4.92 (4.94) 4.96 (4.96) 4.97
10,000-24,999 1,000,000- 2,499,999 2.75 100.41 (4.92) 4.94 (4.96) 4.97 (4.97) 4.99
25,000-49,999 2,500,000- 4,999,999 2.50 100.15 (4.94) 4.95 (4.97) 4.98 (4.99) 5.00
50,000 and over 5,000,000 and over 2.00 99.64 (4.96) 4.98 (4.99) 5.01 (5.01) 5.03
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.90 % $ 101.61 5.06% 5.09% 5.11%
500-999 50,000-99,999 3.70 101.40 5.07 5.10 5.12
1,000-2,499 100,000-249,999 3.50 101.19 5.08 5.12 5.13
2,500-4,999 250,000-499,999 3.25 100.93 5.09 5.13 5.14
5,000-9,999 500,000-999,999 3.00 100.67 5.10 5.14 5.16
10,000-24,999 1,000,000- 2,499,999 2.75 100.41 5.11 5.15 5.17
25,000-49,999 2,500,000- 4,999,999 2.50 100.15 5.13 5.17 5.19
50,000 and over 5,000,000 and over 2.00 99.64 5.16 5.19 5.21
</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
Intermediate 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............. $ .2203(1) $ 4.9572
-------- $.4131 every month --------
Quarterly Distribution Plan........... $ .2203(1) $ .4155(2) $ 1.2465 $ 1.2465 $ 4.9892
Semi-Annual Distribution Plan......... $ .2203(1) $ .4173(3) $ 2.5038 $ 5.0082
- ----------------------------------------------------------------------------------------------------------------
<FN>
</TABLE>
<PAGE>
<TABLE>
<S> <C>
* 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 $.01377 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.2203 per unit for the 16-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 $.2203 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01377 Quarterly - $0.01385
Semi-Annual - $0.01391
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 9 states and the Territory of Puerto Rico.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 6.4
Connecticut 10.9
Hawaii 7.7
Illinois 14.7
New Jersey 8.1
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New York 9.9
Pennsylvania 10.8
Puerto Rico 10.3
Virginia 10.7
Washington 10.5
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 10.0 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
2004................................. 3,075 41.0%
2005................................. 4,425 59.0
</TABLE>
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
790
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 207
Estimated Current Return
5.50% to 5.72%
as of 03/14/95
Estimated Long Term Return
5.55% to 5.77%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 796 Monthly Payment Option
6706H3 804 Quarterly Payment Option
6706H3 812 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 207
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 15, 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, State Board of Education, Public Education 2005 at 101 AAA Aaa
Capital Outlay Bonds, 1993 Series F, 6.00% Due 6/1/20.
(General Obligation Bonds.)
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 Dade County Health Facilities Authority (Florida), Hospital 2003 at 101 AAA Aaa
Revenue Refunding Bonds, Series 1993A (Baptist Hospital of
Miami Project), 5.25% Due 5/15/21. (Original issue
discount bonds delivered on or about March 17, 1993 at a
price of 94.118% of principal amount.)
500,000 Dade County, Florida, Public Facilities Revenue Bonds 2003 at 102 AAA Aaa
(Jackson Memorial Hospital), Series 1993, 5.25% Due
6/1/23. (Original issue discount bonds delivered on or
about June 15, 1993 at a price of 92.625% of principal
amount.)
500,000 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 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 % $ 100.79 5.50% 5.53% 5.55%
500-999 50,000-99,999 4.75 100.63 5.51 5.54 5.56
1,000-2,499 100,000-249,999 4.50 100.37 5.52 5.55 5.57
2,500-4,999 250,000-499,999 4.25 100.10 5.54 5.57 5.59
5,000-9,999 500,000-999,999 3.50 99.33 5.58 5.61 5.63
10,000-24,999 1,000,000- 2,499,999 3.00 98.81 5.61 5.64 5.66
25,000-49,999 2,500,000- 4,999,999 2.50 98.31 5.64 5.67 5.69
50,000 and over 5,000,000 and over 2.00 97.81 5.67 5.70 5.72
</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 % $ 100.79 5.55% 5.58% 5.60%
500-999 50,000-99,999 4.75 100.63 5.56 5.59 5.61
1,000-2,499 100,000-249,999 4.50 100.37 5.58 5.61 5.63
2,500-4,999 250,000-499,999 4.25 100.10 5.59 5.62 5.64
5,000-9,999 500,000-999,999 3.50 99.33 5.64 5.67 5.68
10,000-24,999 1,000,000- 2,499,999 3.00 98.81 5.67 5.69 5.71
25,000-49,999 2,500,000- 4,999,999 2.50 98.31 5.69 5.72 5.74
50,000 and over 5,000,000 and over 2.00 97.81 5.72 5.75 5.77
</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............. $ .2462(1) $ 5.5432
-------- $.4617 every month --------
Quarterly Distribution Plan........... $ .2462(1) $ .4644(2) $ 1.3932 $ 1.3932 $ 5.5752
Semi-Annual Distribution Plan......... $ .2462(1) $ .4659(3) $ 2.7954 $ 5.5942
- ----------------------------------------------------------------------------------------------------------------
<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 $.01539 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.2462 per unit for the 16-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 $.2462 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01539 Quarterly - $0.01548
Semi-Annual - $0.01553
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.
- --------------------------------------------------------------------------------
790
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.0 years.
The first bond is scheduled to mature in October, 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
PENNSYLVANIA
INSURED
TRUST 195
Estimated Current Return
5.57% to 5.80%
as of 03/14/95
Estimated Long Term Return
5.59% to 5.81%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H9 850 Monthly Payment Option
6706H9 868 Quarterly Payment Option
6706H9 876 Semi-Annual Payment Option
Registered in Pennsylvania & 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, PENNSYLVANIA INSURED TRUST 195
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MARCH 15, 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 Pennsylvania, Certificates of Participation, 2003 at 102 AAA Aaa
Series 1993A, 5.00% Due 7/1/15. (Original issue discount
bonds delivered on or about July 21, 1993 at a price of
92.174% of principal amount.)
500,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
500,000 Berks County Municipal Authority (Pennsylvania), Hospital 2004 at 102 AAA Aaa
Revenue Bonds (The Reading Hospital and Medical Center
Project), Series B of 1994, 6.00% Due 10/1/14.
500,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series A
(Pennsylvania Power & Light Company Project), 5.50% Due
2/15/27.
500,000 Allegheny County Hospital Development Authority 2005 at 102 AAA Aaa
(Commonwealth of Pennsylvania), Hospital Revenue Bonds,
Series A of 1995 (Allegheny General Hospital Project),
6.25% Due 9/1/20. (When issued.)
500,000 York County Industrial Development Authority (Pennsylvania), 2004 at 102 AAA Aaa
Pollution Control Revenue Refunding Bonds, 1994 Series A
(Public Service Electric and Gas Company Peach Bottom
Project), 6.45% Due 10/1/19.
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 % $ 101.86 5.57% 5.61% 5.62%
500-999 50,000-99,999 4.75 101.70 5.58 5.62 5.63
1,000-2,499 100,000-249,999 4.50 101.43 5.60 5.63 5.65
2,500-4,999 250,000-499,999 4.25 101.17 5.61 5.64 5.66
5,000-9,999 500,000-999,999 3.50 100.38 5.66 5.69 5.71
10,000-24,999 1,000,000- 2,499,999 3.00 99.87 5.69 5.72 5.74
25,000-49,999 2,500,000- 4,999,999 2.50 99.35 5.72 5.75 5.77
50,000 and over 5,000,000 and over 2.00 98.85 5.74 5.78 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 % $ 101.86 5.59% 5.62% 5.64%
500-999 50,000-99,999 4.75 101.70 5.60 5.63 5.65
1,000-2,499 100,000-249,999 4.50 101.43 5.62 5.64 5.66
2,500-4,999 250,000-499,999 4.25 101.17 5.63 5.66 5.68
5,000-9,999 500,000-999,999 3.50 100.38 5.67 5.70 5.72
10,000-24,999 1,000,000- 2,499,999 3.00 99.87 5.70 5.73 5.75
25,000-49,999 2,500,000- 4,999,999 2.50 99.35 5.73 5.76 5.78
50,000 and over 5,000,000 and over 2.00 98.85 5.76 5.79 5.81
</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
Pennsylvania 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............. $ .2523(1) $ 5.6786
-------- $.4731 every month --------
Quarterly Distribution Plan........... $ .2523(1) $ .4758(2) $ 1.4274 $ 1.4274 $ 5.7106
Semi-Annual Distribution Plan......... $ .2523(1) $ .4773(3) $ 2.8638 $ 5.7296
- ----------------------------------------------------------------------------------------------------------------
<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 $.01577 per unit per day.
Consequently, on the first Record Date (04/01/95), accrued interest will total
$0.2523 per unit for the 16-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 $.2523 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01577 Quarterly - $0.01586
Semi-Annual - $0.01591
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.
- --------------------------------------------------------------------------------
790
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.5 years.
The first bond is scheduled to mature in October, 2014, with the last bond
maturity being February, 2027.
- -------------------------------------------------------
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.
