<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 299
(VIRGINIA TRADITIONAL TRUST 299)
Estimated Current Return
First
Year: 5.31% to 5.53%
Subsequent
Years: 5.32% to 5.54%
as of 04/11/95
Estimated Long Term Return
5.43% to 5.65%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 671 Monthly Payment Option
6706L5 689 Quarterly Payment Option
6706L5 697 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 299
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 12, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 250,000 Virginia Resources Authority, Water and Sewer System Revenue 2003 at 102 AA --
Bonds (Bond Lot Program), Lot 21 (Washington County
Service Authority-New Money/Refunding), 5.25% Due 10/1/14.
485,000 City of Danville, Virginia, General Improvement Bonds of 2005 at 102 AAA Aaa
Fiscal Year 1994-1995,
55M-5.75% Due 4/1/12,
170M-5.80% Due 4/1/14,
260M-5.80% Due 4/1/15.
(General Obligation Bonds.) (When issued.) (MBIA Insured.)
100,000 Fairfax County (Virginia), Water Authority, Water Refunding 2007 at 102 AA- Aa
Revenue Bonds, Series 1992, 6.00% Due 4/1/22.
415,000 Fairfax County (Virginia), Water Authority, Water Revenue 2004 at 102 AA- Aa
Bonds, Series 1994, 5.15% Due 4/1/11.
250,000 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 Industrial Development Authority of the County of Prince 2003 at 102 -- A
William (Virginia), Hospital Revenue Refunding Bonds
(Prince William Hospital), Series 1993, 5.625% Due 4/1/12.
500,000 Prince William County Service Authority (Virginia), Water 2003 at 102 AAA Aaa
and Sewer System Refunding Revenue Bonds, Series 1993,
5.00% Due 7/1/13. (FGIC Insured.)
500,000 Riverside Regional Jail Authority (Virginia), Jail Facility 2005 at 102 AAA Aaa
Revenue Bonds, Series 1995, 6.00% Due 7/1/25. (MBIA
Insured.)
500,000 Industrial Development Authority of the City of Roanoke, 2003 at 102 AAA Aaa
Virginia, Hospital Revenue Refunding Bonds (Roanoke
Memorial Hospitals, Community Hospital of Roanoke Valley,
Franklin Memorial Hospital and Saint Albans Psychiatric
Hospital Project) Series 1993A, 5.00% Due 7/1/24.
(Original issue discount bonds delivered on or about May
20, 1993 at a price of 89.849% of principal amount.)(MBIA
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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.06 (5.31%) 5.32% (5.34%) 5.35% (5.36%) 5.37%
500-999 50,000-99,999 4.75 99.91 (5.32) 5.33 (5.35) 5.36 (5.37) 5.38
1,000-2,499 100,000-249,999 4.50 99.64 (5.33) 5.34 (5.37) 5.38 (5.38) 5.40
2,500-4,999 250,000-499,999 4.25 99.38 (5.35) 5.36 (5.38) 5.39 (5.40) 5.41
5,000-9,999 500,000-999,999 3.50 98.61 (5.39) 5.40 (5.42) 5.43 (5.44) 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.10 (5.42) 5.43 (5.45) 5.46 (5.47) 5.48
25,000-49,999 2,500,000- 4,999,999 2.50 97.60 (5.45) 5.46 (5.48) 5.49 (5.50) 5.51
50,000 and over 5,000,000 and over 2.00 97.10 (5.47) 5.48 (5.51) 5.52 (5.53) 5.54
</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 % $ 100.06 5.43% 5.46% 5.48%
500-999 50,000-99,999 4.75 99.91 5.44 5.46 5.48
1,000-2,499 100,000-249,999 4.50 99.64 5.45 5.48 5.50
2,500-4,999 250,000-499,999 4.25 99.38 5.46 5.49 5.51
5,000-9,999 500,000-999,999 3.50 98.61 5.51 5.54 5.56
10,000-24,999 1,000,000- 2,499,999 3.00 98.10 5.54 5.57 5.59
25,000-49,999 2,500,000- 4,999,999 2.50 97.60 5.57 5.60 5.62
50,000 and over 5,000,000 and over 2.00 97.10 5.60 5.63 5.65
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Virginia Traditional Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2810(1) $ 5.3249
-------- $.4437 every month --------
Quarterly Distribution Plan........... $ .2810(1) $ 1.3392(2) $ 1.3392 $ 1.3392 $ 5.3569
Semi-Annual Distribution Plan......... $ .2810(1) $ 2.6874(3) $ 5.3759
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01479 per unit per day.
Consequently, on the first Record Date (05/01/95), accrued interest will total
$0.2810 per unit for the 19-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 05/01/95 is $.2810 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01479 Quarterly - $0.01488
Semi-Annual - $0.01493
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.
- --------------------------------------------------------------------------------
796
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.4 years.
The first bond is scheduled to mature in April, 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 57%
AA 22
A 21
---
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 209
Estimated Current Return
First
Year: 5.31% to 5.52%
Subsequent
Years: 5.34% to 5.55%
as of 04/11/95
Estimated Long Term Return
5.40% to 5.62%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H3 853 Monthly Payment Option
6706H3 861 Quarterly Payment Option
6706H3 879 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 209
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 12, 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 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 Florida Municipal Power Agency, Stanton II Project Refunding 2003 at 100 AAA Aaa
Revenue Bonds, Series 1993, 4.50% Due 10/1/27. (Original
issue discount bonds delivered on or about October 5, 1993
at a price of 88.625% of principal amount.)
600,000 State of Florida, Full Faith and Credit, Department of 2005 at 101 AAA Aaa
Transportation, Right-of-Way Acquisition and Bridge
Construction Bonds, Series 1995, 5.875% Due 7/1/24.
(General Obligation Bonds.) (When issued.)
600,000 Dade County, Florida, Public Facilities Revenue Refunding 2003 at 102 AAA Aaa
Bonds (Jackson Memorial Hospital), Series 1993A, 4.875%
Due 6/1/15.
350,000 Orange County, Florida, Sales Tax Revenue Bonds, Series 2003 at 102 AAA Aaa
1993B, 5.375% Due 1/1/24.
150,000 City of Palm Bay, Florida, Utility System Refunding Revenue 2003 at 102 AAA Aaa
Bonds, Series 1994 (Palm Bay Utility Corporation Project),
5.00% Due 10/1/22.
600,000 City of Tampa, Florida, Allegany Health System Revenue 2003 at 102 AAA Aaa
Bonds, St. Joseph'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.)
600,000 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
----------
$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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.50 (5.31%) 5.34% (5.34%) 5.37% (5.36%) 5.39%
500-999 50,000-99,999 4.75 98.34 (5.32) 5.35 (5.35) 5.38 (5.37) 5.40
1,000-2,499 100,000-249,999 4.50 98.08 (5.33) 5.36 (5.36) 5.39 (5.38) 5.41
2,500-4,999 250,000-499,999 4.25 97.83 (5.34) 5.37 (5.38) 5.41 (5.40) 5.43
5,000-9,999 500,000-999,999 3.50 97.07 (5.39) 5.42 (5.42) 5.45 (5.44) 5.47
10,000-24,999 1,000,000- 2,499,999 3.00 96.57 (5.41) 5.44 (5.45) 5.48 (5.47) 5.50
25,000-49,999 2,500,000- 4,999,999 2.50 96.07 (5.44) 5.47 (5.48) 5.50 (5.50) 5.52
50,000 and over 5,000,000 and over 2.00 95.58 (5.47) 5.50 (5.50) 5.53 (5.52) 5.55
</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 % $ 98.50 5.40% 5.43% 5.45%
500-999 50,000-99,999 4.75 98.34 5.41 5.44 5.46
1,000-2,499 100,000-249,999 4.50 98.08 5.42 5.45 5.47
2,500-4,999 250,000-499,999 4.25 97.83 5.44 5.46 5.48
5,000-9,999 500,000-999,999 3.50 97.07 5.48 5.51 5.53
10,000-24,999 1,000,000- 2,499,999 3.00 96.57 5.51 5.54 5.56
25,000-49,999 2,500,000- 4,999,999 2.50 96.07 5.54 5.57 5.59
50,000 and over 5,000,000 and over 2.00 95.58 5.57 5.60 5.62
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Florida Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2700(1) $ 5.2567
-------- $.4380 every month --------
Quarterly Distribution Plan........... $ .2700(1) $ 1.3221(2) $ 1.3221 $ 1.3221 $ 5.2887
Semi-Annual Distribution Plan......... $ .2700(1) $ 2.6532(3) $ 5.3077
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</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 $.01421 per unit per day.
Consequently, on the first Record Date (05/01/95), accrued interest will total
$0.2700 per unit for the 19-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 05/01/95 is $.2700 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01460 Quarterly - $0.01469
Semi-Annual - $0.01474
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.
- --------------------------------------------------------------------------------
796
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.3 years.
The first bond is scheduled to mature in June, 2015, with the last bond maturity
being October, 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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MASSACHUSETTS
INSURED
TRUST 125
Estimated Current Return
5.36% to 5.58%
as of 04/11/95
Estimated Long Term Return
5.46% to 5.67%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 340 Monthly Payment Option
670947 357 Quarterly Payment Option
670947 365 Semi-Annual Payment Option
Registered in Massachusetts
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, MASSACHUSETTS INSURED TRUST 125
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 12, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 400,000 The Commonwealth of Massachusetts, General Obligation Bonds, 2004 at 102 AAA Aaa
Consolidated Loan of 1994, Series A, 5.00% Due 1/1/14.
600,000 Massachusetts Bay Transportation Authority, General 2004 at 102 AAA Aaa
Transportation System Bonds, 1994 Series B Bonds, 5.90%
Due 3/1/24. (General Obligation Bonds.)
600,000 Massachusetts Health and Educational Facilities Authority, 2005 at 102 AAA Aaa
Revenue Bonds, Berkshire Health Systems Issue, Series D,
6.00% Due 10/1/19.
600,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, Smith College Issue, Series D, 5.75% Due
7/1/24.
600,000 Massachusetts Municipal Wholesale Electric Company, A Public 2004 at 102 AAA Aaa
Corporation of the Commonwealth of Massachusetts, Power
Supply System Revenue Bonds, 1994 Series A, 5.00% Due
7/1/14.
600,000 Massachusetts Water Resources Authority, General Revenue 2004 at 101 AAA Aaa
Bonds, 1994 Series A, 6.00% Due 8/1/24. 1/2
600,000 Southeastern Massachusetts University Building Authority, 2005 at 102 AAA Aaa
Refunding Revenue Bonds, 1995 Series A, 5.75% Due 5/1/16.
(General Obligation Bonds.)
----------
$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 % $ 101.50 5.36% 5.40% 5.41%
500-999 50,000-99,999 4.75 101.34 5.37 5.40 5.42
1,000-2,499 100,000-249,999 4.50 101.08 5.39 5.42 5.44
2,500-4,999 250,000-499,999 4.25 100.81 5.40 5.43 5.45
5,000-9,999 500,000-999,999 3.50 100.03 5.44 5.48 5.49
10,000-24,999 1,000,000- 2,499,999 3.00 99.52 5.47 5.50 5.52
25,000-49,999 2,500,000- 4,999,999 2.50 99.00 5.50 5.53 5.55
50,000 and over 5,000,000 and over 2.00 98.50 5.53 5.56 5.58
</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 % $ 101.50 5.46% 5.49% 5.51%
500-999 50,000-99,999 4.75 101.34 5.46 5.49 5.51
1,000-2,499 100,000-249,999 4.50 101.08 5.48 5.51 5.53
2,500-4,999 250,000-499,999 4.25 100.81 5.49 5.52 5.54
5,000-9,999 500,000-999,999 3.50 100.03 5.54 5.57 5.59
10,000-24,999 1,000,000- 2,499,999 3.00 99.52 5.57 5.60 5.62
25,000-49,999 2,500,000- 4,999,999 2.50 99.00 5.60 5.63 5.65
50,000 and over 5,000,000 and over 2.00 98.50 5.63 5.66 5.67
</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
Massachusetts Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2872(1) $ 5.4446
-------- $.4536 every month --------
Quarterly Distribution Plan........... $ .2872(1) $ 1.3689(2) $ 1.3689 $ 1.3689 $ 5.4766
Semi-Annual Distribution Plan......... $ .2872(1) $ 2.7468(3) $ 5.4956
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01512 per unit per day.
Consequently, on the first Record Date (05/01/95), accrued interest will total
$0.2872 per unit for the 19-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 05/01/95 is $.2872 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01512 Quarterly - $0.01521
Semi-Annual - $0.01526
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.
- --------------------------------------------------------------------------------
796
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.7 years.
The first bond is scheduled to mature in January, 2014, with the last bond
maturity being August, 2024.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
PENNSYLVANIA
INSURED
TRUST 196
Estimated Current Return
5.33% to 5.55%
as of 04/11/95
Estimated Long Term Return
5.40% to 5.62%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H8 100 Monthly Payment Option
6706H8 118 Quarterly Payment Option
6706H8 126 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 196
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 12, 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 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.60% Due 6/15/16.
470,000 Allegheny County Hospital Development Authority 2005 at 102 AAA Aaa
(Commonwealth of Pennsylvania), Hospital Revenue Bonds,
Series A of 1995 (Allegheny General Hospital Project),
6.20% Due 9/1/15.
115,000 Allegheny County Sanitary Authority, Allegheny County, No Optional AAA Aaa
Pennsylvania, Sewer Revenue Bonds, Refunding Series of Call
1993, 0.00% Due 6/1/16. (Original issue discount bonds
delivered on or about April 13, 1993 at a price of 24.906%
of principal amount.)
470,000 Hampton Township School District (Allegheny County, 2005 at 100 AAA Aaa
Pennsylvania), General Obligation Bonds, Refunding Series
A of 1995, 6.00% Due 11/15/21. (When issued.)
545,000 Hempfield School District, Lancaster County, Pennsylvania, 2004 at 100 AAA Aaa
General Obligation Bonds, Series of 1994, 5.30% Due
10/15/14.
500,000 City of Philadelphia, Pennsylvania, Water and Wastewater 2003 at 100 AAA Aaa
Revenue Bonds, Series 1993, 5.00% Due 6/15/19. (Original
issue discount bonds delivered on or about August 26, 1993
at a price of 89.845% of principal amount.)
500,000 City of Pittsburgh (Commonwealth of Pennsylvania), General 2004 at 100 AAA Aaa
Obligation Bonds, Series of 1994A, 5.875% Due 9/1/11.
500,000 Southeastern Pennsylvania Transportation Authority, Special 2005 at 101 AAA Aaa
Revenue Bonds, Series of 1995A, 5.75% Due 3/1/20.
(Original issue discount bonds delivered on or about
February 28, 1995 at a price of 94.75% of principal
amount.)
400,000 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
----------
$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 % $ 100.62 5.33% 5.36% 5.38%
500-999 50,000-99,999 4.75 100.46 5.34 5.37 5.39
1,000-2,499 100,000-249,999 4.50 100.20 5.36 5.39 5.41
2,500-4,999 250,000-499,999 4.25 99.94 5.37 5.40 5.42
5,000-9,999 500,000-999,999 3.50 99.16 5.41 5.44 5.46
10,000-24,999 1,000,000- 2,499,999 3.00 98.65 5.44 5.47 5.49
25,000-49,999 2,500,000- 4,999,999 2.50 98.14 5.47 5.50 5.52
50,000 and over 5,000,000 and over 2.00 97.64 5.50 5.53 5.55
</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 % $ 100.62 5.40% 5.43% 5.45%
500-999 50,000-99,999 4.75 100.46 5.41 5.44 5.46
1,000-2,499 100,000-249,999 4.50 100.20 5.42 5.45 5.47
2,500-4,999 250,000-499,999 4.25 99.94 5.44 5.46 5.48
5,000-9,999 500,000-999,999 3.50 99.16 5.48 5.51 5.53
10,000-24,999 1,000,000- 2,499,999 3.00 98.65 5.51 5.54 5.56
25,000-49,999 2,500,000- 4,999,999 2.50 98.14 5.54 5.57 5.59
50,000 and over 5,000,000 and over 2.00 97.64 5.57 5.60 5.62
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to 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 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 5/1 8/1 11/1 2/1
Distribution Date..................... 5/15 8/15 11/15 2/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2831(1) $ 5.3659
-------- $.4470 every month --------
Quarterly Distribution Plan........... $ .2831(1) $ 1.3491(2) $ 1.3491 $ 1.3491 $ 5.3979
Semi-Annual Distribution Plan......... $ .2831(1) $ 2.7072(3) $ 5.4169
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.12 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01490 per unit per day.
Consequently, on the first Record Date (05/01/95), accrued interest will total
$0.2831 per unit for the 19-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 05/01/95 is $.2831 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01490 Quarterly - $0.01499
Semi-Annual - $0.01504
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.
- --------------------------------------------------------------------------------
796
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.4 years.
The first bond is scheduled to mature in September, 2011, with the last bond
maturity being July, 2023.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
