<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NORTH CAROLINA
TRUST 288
(NORTH CAROLINA TRADITIONAL TRUST 288)
Estimated Current Return
5.26% to 5.47%
as of 04/27/95
Estimated Long Term Return
5.40% to 5.63%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6710A2 342 Monthly Payment Option
6710A2 359 Quarterly Payment Option
6710A2 367 Semi-Annual Payment Option
Registered in North Carolina
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--NORTH CAROLINA TRADITIONAL TRUST 288
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 28, 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 North Carolina Medical Care Commission, Hospital Revenue 2003 at 102 AA Aa
Refunding Bonds (Presbyterian Health Services Corp.
Project), Series 1993, 5.50% Due 10/1/20.
500,000 City of Charlotte, North Carolina, Refunding Certificates of 2003 at 102 AAA Aaa
Participation (Convention Facility Project), Series 1993C,
5.25% Due 12/1/20. (Original issue discount bonds
delivered on or about August 25, 1993 at a price of
93.801% of principal amount.)(AMBAC Insured.)
500,000 Certificates of Participation (1994 Hospital and Office 2004 at 102 AA Aa
Facilities Project) County of Durham, North Carolina,
6.00% Due 5/1/17.
500,000 City of Fayetteville, North Carolina, Public Works 2003 at 100 AAA Aaa
Commission Revenue Refunding Bonds, Series 1993, 4.75% Due
3/1/14. (Original issue discount bonds delivered on or
about November 23, 1993 at a price of 94.037% of principal
amount.)(FGIC Insured.)
500,000 City of Monroe, North Carolina, Combined Enterprise System 2004 at 102 A A
Revenue Bonds, Series 1994, 6.00% Due 3/1/14.
500,000 Piedmont Triad Airport Authority (North Carolina), Airport 2004 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.00% Due 7/1/16.
(MBIA Insured.)
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% 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>
50-499 $5,000-$49,999 4.90 % $ 97.84 5.26% 5.29% 5.31%
500-999 50,000-99,999 4.75 97.69 5.26 5.30 5.32
1,000-2,499 100,000-249,999 4.50 97.43 5.28 5.31 5.33
2,500-4,999 250,000-499,999 4.25 97.18 5.29 5.32 5.34
5,000-9,999 500,000-999,999 3.50 96.42 5.33 5.37 5.39
10,000-24,999 1,000,000- 2,499,999 3.00 95.93 5.36 5.39 5.41
25,000-49,999 2,500,000- 4,999,999 2.50 95.44 5.39 5.42 5.44
50,000 and over 5,000,000 and over 2.00 94.95 5.42 5.45 5.47
</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 % $ 97.84 5.40% 5.44% 5.46%
500-999 50,000-99,999 4.75 97.69 5.41 5.45 5.46
1,000-2,499 100,000-249,999 4.50 97.43 5.42 5.46 5.48
2,500-4,999 250,000-499,999 4.25 97.18 5.44 5.47 5.49
5,000-9,999 500,000-999,999 3.50 96.42 5.48 5.52 5.54
10,000-24,999 1,000,000- 2,499,999 3.00 95.93 5.51 5.55 5.57
25,000-49,999 2,500,000- 4,999,999 2.50 95.44 5.54 5.58 5.60
50,000 and over 5,000,000 and over 2.00 94.95 5.57 5.61 5.63
</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
North Carolina Traditional Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4712(1) $ 5.1423
-------- $.4284 every month --------
Quarterly Distribution Plan........... $ .4712(1) $ .8622(2) $ 1.2933 $ 1.2933 $ 1.2933 $ 5.1743
Semi-Annual Distribution Plan......... $ .4712(1) $ 2.1630(3) $ 2.5956 $ 5.1933
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-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 $.01428 per unit per day.
Consequently, on the first Record Date (06/01/95), accrued interest will total
$0.4712 per unit for the 33-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 06/01/95 is $.4712 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01428 Quarterly - $0.01437
Semi-Annual - $0.01442
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.
- --------------------------------------------------------------------------------
799
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.6 years.
The first bond is scheduled to mature in March, 2014, with the last bond
maturity being July, 2021.
- -------------------------------------------------------
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 29
A 14
---
100%
</TABLE>
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 191
Estimated Current Return
First
Year: 5.28% to 5.49%
Subsequent
Years: 5.29% to 5.50%
as of 04/27/95
Estimated Long Term Return
5.40% to 5.63%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706L6 760 Monthly Payment Option
6706L6 778 Quarterly Payment Option
6706L6 786 Semi-Annual Payment Option
Registered in New Jersey
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NEW JERSEY INSURED TRUST 191
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 28, 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 New Jersey Economic Development Authority, Water Facilities 2004 at 102 AAA Aaa
Revenue Refunding Bonds (Hackensack Water Company
Project-1994 Series A), 5.80% Due 3/1/24.
500,000 New Jersey Economic Development Authority, Market Transition 2004 at 102 AAA Aaa
Facility Senior Lien Revenue Bonds, Series 1994A, 5.875%
Due 7/1/11.
500,000 New Jersey Health Care Facilities Financing Authority, 2004 at 100 AAA Aaa
Revenue Bonds, Jersey Shore Medical Center Obligated Group
Issue, Series 1994, 5.875% Due 7/1/24. (Original issue
discount bonds delivered on or about August 2, 1994 at a
price of 93.036% of principal amount.)
500,000 The Board of Education of the Township of Egg Harbor, In the 2003 at 100 AAA Aaa
County of Atlantic, New Jersey, School Bonds, 4.75% Due
2/15/10. (General Obligation Bonds.)
500,000 The Board of Education of the City of Newark, Essex County, 2004 at 102 AAA Aaa
New Jersey, School Bonds, 5.875% Due 12/15/13. (General
Obligation Bonds.)
500,000 The Pollution Control Financing Authority of Salem County 2003 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1993 Series C (Public Service Electric and Gas Company
Project), 5.55% Due 11/1/33.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% of principal
amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.49 (5.28%) 5.29% (5.31%) 5.32% (5.33%) 5.34%
500-999 50,000-99,999 4.75 100.34 (5.28) 5.30 (5.32) 5.33 (5.34) 5.35
1,000-2,499 100,000-249,999 4.50 100.07 (5.30) 5.31 (5.33) 5.34 (5.35) 5.36
2,500-4,999 250,000-499,999 4.25 99.81 (5.31) 5.32 (5.34) 5.36 (5.36) 5.37
5,000-9,999 500,000-999,999 3.50 99.04 (5.35) 5.37 (5.39) 5.40 (5.41) 5.42
10,000-24,999 1,000,000- 2,499,999 3.00 98.53 (5.38) 5.39 (5.41) 5.43 (5.43) 5.44
25,000-49,999 2,500,000- 4,999,999 2.50 98.02 (5.41) 5.42 (5.44) 5.45 (5.46) 5.47
50,000 and over 5,000,000 and over 2.00 97.52 (5.44) 5.45 (5.47) 5.48 (5.49) 5.50
</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 % $ 100.49 5.40% 5.44% 5.46%
500-999 50,000-99,999 4.75 100.34 5.41 5.45 5.46
1,000-2,499 100,000-249,999 4.50 100.07 5.42 5.46 5.48
2,500-4,999 250,000-499,999 4.25 99.81 5.44 5.47 5.49
5,000-9,999 500,000-999,999 3.50 99.04 5.48 5.52 5.54
10,000-24,999 1,000,000- 2,499,999 3.00 98.53 5.51 5.55 5.57
25,000-49,999 2,500,000- 4,999,999 2.50 98.02 5.54 5.58 5.60
50,000 and over 5,000,000 and over 2.00 97.52 5.57 5.61 5.63
</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
New Jersey Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4867(1) $ 5.3135
-------- $.4425 every month --------
Quarterly Distribution Plan........... $ .4867(1) $ .8904(2) $ 1.3356 $ 1.3356 $ 1.3356 $ 5.3455
Semi-Annual Distribution Plan......... $ .4867(1) $ 2.2350(3) $ 2.6820 $ 5.3645
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-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 $.01475 per unit per day.
Consequently, on the first Record Date (06/01/95), accrued interest will total
$0.4867 per unit for the 33-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 06/01/95 is $.4867 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01475 Quarterly - $0.01484
Semi-Annual - $0.01490
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.
- --------------------------------------------------------------------------------
799
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.6 years.
The first bond is scheduled to mature in February, 2010, with the last bond
maturity being November, 2033.
- -------------------------------------------------------
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
OHIO
INSURED
TRUST 124
Estimated Current Return
5.31% to 5.53%
as of 04/27/95
Estimated Long Term Return
5.43% to 5.66%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 672 Monthly Payment Option
67101Y 680 Quarterly Payment Option
67101Y 698 Semi-Annual Payment Option
Registered in Ohio
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, OHIO INSURED TRUST 124
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT APRIL 28, 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 Cleveland, Ohio, Airport System Improvement Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.10% Due 1/1/24.
425,000 East Clinton Local School District, Clinton, Highland and 2005 at 101 AAA Aaa
Fayette Counties, Ohio, School Improvement Bonds, General
Obligation, 5.85% Due 12/1/17.
500,000 County of Lucas, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993B (St. Vincent Medical Center), 5.375% Due
8/15/17.
500,000 South-Western City School District, Franklin and Pickaway 2003 at 102 AAA Aaa
Counties, Ohio, School Facilities Construction and
Renovation Bonds, 5.00% Due 12/1/13. (General Obligation
Bonds.)
500,000 Southwest Licking Local School District, Licking and 2005 at 100 AAA Aaa
Fairfield Counties, Ohio, School Facilities Construction
and Improvement Bonds, 5.75% Due 12/1/22. (General
Obligation Bonds.)
350,000 County of Stark, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993B (Timken Mercy Medical Center), 5.00% Due
12/1/19. (Original issue discount bonds delivered on or
about September 23, 1993 at a price of 94.00% of principal
amount.)
220,000 County of Warren, Ohio, Waterworks System Revenue Bonds, 2004 at 101 AAA Aaa
Series 1994 (Warren County Water District), 6.00% Due
12/1/19.
505,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% of principal
amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.12 5.31% 5.35% 5.37%
500-999 50,000-99,999 4.75 98.96 5.32 5.35 5.37
1,000-2,499 100,000-249,999 4.50 98.70 5.34 5.37 5.39
2,500-4,999 250,000-499,999 4.25 98.44 5.35 5.38 5.40
5,000-9,999 500,000-999,999 3.50 97.68 5.39 5.42 5.44
10,000-24,999 1,000,000- 2,499,999 3.00 97.18 5.42 5.45 5.47
25,000-49,999 2,500,000- 4,999,999 2.50 96.68 5.45 5.48 5.50
50,000 and over 5,000,000 and over 2.00 96.18 5.48 5.51 5.53
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.12 5.43% 5.47% 5.49%
500-999 50,000-99,999 4.75 98.96 5.44 5.47 5.49
1,000-2,499 100,000-249,999 4.50 98.70 5.45 5.49 5.51
2,500-4,999 250,000-499,999 4.25 98.44 5.46 5.50 5.52
5,000-9,999 500,000-999,999 3.50 97.68 5.51 5.55 5.57
10,000-24,999 1,000,000- 2,499,999 3.00 97.18 5.54 5.58 5.60
25,000-49,999 2,500,000- 4,999,999 2.50 96.68 5.57 5.61 5.63
50,000 and over 5,000,000 and over 2.00 96.18 5.60 5.64 5.66
</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
Ohio Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 6/1 8/1 11/1 2/1 5/1
Distribution Date..................... 6/15 8/15 11/15 2/15 5/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4827(1) $ 5.2668
-------- $.4389 every month --------
Quarterly Distribution Plan........... $ .4827(1) $ .8826(2) $ 1.3239 $ 1.3239 $ 1.3239 $ 5.2988
Semi-Annual Distribution Plan......... $ .4827(1) $ 2.2155(3) $ 2.6586 $ 5.3178
- ---------------------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 5-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 $.01463 per unit per day.
Consequently, on the first Record Date (06/01/95), accrued interest will total
$0.4827 per unit for the 33-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 06/01/95 is $.4827 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01463 Quarterly - $0.01471
Semi-Annual - $0.01477
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.
- --------------------------------------------------------------------------------
799
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.4 years.
The first bond is scheduled to mature in December, 2013, with the last bond
maturity being January, 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.
