<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 300
(VIRGINIA TRADITIONAL TRUST 300)
Estimated Current Return
5.26% to 5.47%
as of 05/23/95
Estimated Long Term Return
5.35% to 5.57%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 705 Monthly Payment Option
6706L5 713 Quarterly Payment Option
6706L5 721 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 300
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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 Washington Metropolitan Area Transit Authority (District of 2004 at 102 AAA Aaa
Columbia), Gross Revenue Transit Refunding Bonds, Series
1993, 5.25% Due 7/1/14. (FGIC Insured.)
525,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds), 5.75% Due 7/1/24. (MBIA 1/2
Insured.)
520,000 Virginia College Building Authority, Educational Facilities 2003 at 102 A+ --
Revenue Refunding Bonds (Hampton University Project),
Series of 1993, 5.75% Due 4/1/14.
500,000 Augusta County Service Authority (Virginia), Water and Sewer 2009 at 100 AAA Aaa
System Revenue Bonds, Series 1994, 5.00% Due 11/1/24.
(Original issue discount bonds delivered on or about March
3, 1994 at a price of 93.75% of principal amount.)(MBIA
Insured.)
515,000 Industrial Development Authority of Fairfax County, No Optional AA- Aa
Virginia, Hospital Revenue Refunding Bonds (Inova Health Call
System Hospitals Project), Series 1993A, 5.00% Due
8/15/15.
440,000 City of Richmond, Virginia, General Obligation Public 2003 at 102 AAA Aaa
Improvement Bonds, Series 1993B, 5.50% Due 7/15/23. (MBIA
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.)
----------
$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 % $ 99.84 5.26% 5.29% 5.31%
500-999 50,000-99,999 4.75 99.68 5.27 5.30 5.32
1,000-2,499 100,000-249,999 4.50 99.42 5.28 5.32 5.34
2,500-4,999 250,000-499,999 4.25 99.16 5.30 5.33 5.35
5,000-9,999 500,000-999,999 3.50 98.39 5.34 5.37 5.39
10,000-24,999 1,000,000- 2,499,999 3.00 97.89 5.37 5.40 5.42
25,000-49,999 2,500,000- 4,999,999 2.50 97.38 5.39 5.43 5.45
50,000 and over 5,000,000 and over 2.00 96.89 5.42 5.46 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 % $ 99.84 5.35% 5.38% 5.40%
500-999 50,000-99,999 4.75 99.68 5.36 5.39 5.41
1,000-2,499 100,000-249,999 4.50 99.42 5.38 5.41 5.42
2,500-4,999 250,000-499,999 4.25 99.16 5.39 5.42 5.44
5,000-9,999 500,000-999,999 3.50 98.39 5.43 5.46 5.48
10,000-24,999 1,000,000- 2,499,999 3.00 97.89 5.46 5.49 5.51
25,000-49,999 2,500,000- 4,999,999 2.50 97.38 5.49 5.52 5.54
50,000 and over 5,000,000 and over 2.00 96.89 5.52 5.55 5.57
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Virginia Traditional Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5398(1) $ 5.2535
-------- $.4377 every month --------
Quarterly Distribution Plan........... $ .5398(1) $ .4404(2) $ 1.3212 $ 1.3212 $ 1.3212 $ 5.2855
Semi-Annual Distribution Plan......... $ .5398(1) $ 1.7676(3) $ 2.6514 $ 5.3045
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01459 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5398 per unit for the 37-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 07/01/95 is $.5398 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01459 Quarterly - $0.01468
Semi-Annual - $0.01473
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.9 years.
The first bond is scheduled to mature in April, 2014, with the last bond
maturity being July, 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 70%
AA 15
A1/A+ 15
---
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
CALIFORNIA
INSURED
TRUST 248
Estimated Current Return
5.30% to 5.52%
as of 05/23/95
Estimated Long Term Return
5.36% to 5.58%
50,000 units in a
diversified $5,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064W 135 Monthly Payment Option
67064W 143 Quarterly Payment Option
67064W 150 Semi-Annual Payment Option
Registered in California
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, CALIFORNIA INSURED TRUST 248
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 San Diego State University (California), Student Union 2004 at 102 AAA Aaa
Revenue Bonds, Series B, 6.125% Due 11/1/24.
750,000 Brea Redevelopment Agency (Orange County, California), 1993 2003 at 102 AAA Aaa
Tax Allocation Refunding Bonds (Redevelopment Project AB),
5.75% Due 8/1/23.
750,000 The City of Los Angeles (California), Wastewater System 2003 at 102 AAA Aaa
Revenue Bonds, Series 1993-B, 5.70% Due 6/1/23.
750,000 City of Rohnert Park, California, Refunding Certificates of 2003 at 102 AAA Aaa
Participation (Rohnert Park Public Safety Facility
Project), 4.75% Due 7/1/17. (Original issue discount bonds
delivered on or about January 27, 1994 at a price of
92.665% of principal amount.)
750,000 County of Sacramento, California (Sacramento County Public 2003 at 102 AAA Aaa
Facilities Financing Corporation), Refunding Certificates
of Participation (Sacramento Main Detention Facility
Project), 5.75% Due 6/1/15.
500,000 City of Suisun City (Solano County, California), General 2004 at 102 AAA Aaa
Obligation Bonds, Series H-12, 5.20% Due 2/1/19.
750,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds), 5.75% Due 7/1/24. 1/2
----------
$5,000,000
----------
----------
</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 % $ 101.35 5.30% 5.33% 5.35%
500-999 50,000-99,999 4.75 101.19 5.31 5.34 5.36
1,000-2,499 100,000-249,999 4.50 100.92 5.33 5.36 5.38
2,500-4,999 250,000-499,999 4.25 100.66 5.34 5.37 5.39
5,000-9,999 500,000-999,999 3.50 99.88 5.38 5.41 5.43
10,000-24,999 1,000,000- 2,499,999 3.00 99.36 5.41 5.44 5.46
25,000-49,999 2,500,000- 4,999,999 2.50 98.85 5.44 5.47 5.49
50,000 and over 5,000,000 and over 2.00 98.35 5.46 5.50 5.52
</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 % $ 101.35 5.36% 5.39% 5.41%
500-999 50,000-99,999 4.75 101.19 5.37 5.40 5.42
1,000-2,499 100,000-249,999 4.50 100.92 5.39 5.42 5.43
2,500-4,999 250,000-499,999 4.25 100.66 5.40 5.43 5.45
5,000-9,999 500,000-999,999 3.50 99.88 5.44 5.47 5.49
10,000-24,999 1,000,000- 2,499,999 3.00 99.36 5.47 5.50 5.52
25,000-49,999 2,500,000- 4,999,999 2.50 98.85 5.50 5.53 5.55
50,000 and over 5,000,000 and over 2.00 98.35 5.53 5.56 5.58
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
California Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5524(1) $ 5.3748
-------- $.4479 every month --------
Quarterly Distribution Plan........... $ .5524(1) $ .4503(2) $ 1.3509 $ 1.3509 $ 1.3509 $ 5.4068
Semi-Annual Distribution Plan......... $ .5524(1) $ 1.8084(3) $ 2.7126 $ 5.4258
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01493 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5524 per unit for the 37-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 07/01/95 is $.5524 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01493 Quarterly - $0.01501
Semi-Annual - $0.01507
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.9 years.
The first bond is scheduled to mature in June, 2015, with the last bond maturity
being November, 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
MASSACHUSETTS
INSURED
TRUST 126
Estimated Current Return
5.23% to 5.44%
as of 05/23/95
Estimated Long Term Return
5.33% to 5.54%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 373 Monthly Payment Option
670947 381 Quarterly Payment Option
670947 399 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 126
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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 The Commonwealth of Massachusetts, General Obligation Bonds, 2004 at 102 AAA Aaa
Consolidated Loan of 1994, Series A, 5.00% Due 1/1/14.
500,000 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.)
360,000 Massachusetts Health and Educational Facilities Authority, 2003 at 100 AAA Aaa
Revenue Bonds, Baystate Medical Center Issue, Series D,
5.00% Due 7/1/20. (Original issue discount bonds delivered
on or about September 16, 1993 at a price of 93.025% of
principal amount.)
500,000 Massachusetts Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Lahey Clinic Medical Center Issue, Series
B, 5.375% Due 7/1/23. (Original issue discount bonds
delivered on or about April 27, 1993 at a price of 94.511%
of principal amount.)
250,000 Massachusetts Industrial Finance Agency Revenue Bonds, 2005 at 102 AAA Aaa
Babson College Issue, Series 1995A, 5.75% Due 10/1/15.
500,000 Massachusetts Water Resources Authority, General Revenue 2004 at 102 AAA Aaa
Bonds, 1993 Series C, 5.25% Due 12/1/20. (Original issue
discount bonds delivered on or about December 2, 1993 at a
price of 92.799% of principal amount.)
365,000 Southeastern Massachusetts University Building Authority, 2005 at 102 AAA Aaa
Refunding Revenue Bonds, 1995 Series A,
100M-5.90% Due 5/1/12,
265M-5.75% Due 5/1/16.
(General Obligation Bonds.)
525,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds), 5.75% Due 7/1/24. 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 % $ 100.45 5.23% 5.26% 5.28%
500-999 50,000-99,999 4.75 100.29 5.23 5.27 5.28
1,000-2,499 100,000-249,999 4.50 100.03 5.25 5.28 5.30
2,500-4,999 250,000-499,999 4.25 99.77 5.26 5.29 5.31
5,000-9,999 500,000-999,999 3.50 98.99 5.30 5.34 5.35
10,000-24,999 1,000,000- 2,499,999 3.00 98.48 5.33 5.36 5.38
25,000-49,999 2,500,000- 4,999,999 2.50 97.98 5.36 5.39 5.41
50,000 and over 5,000,000 and over 2.00 97.48 5.38 5.42 5.44
</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 % $ 100.45 5.33% 5.35% 5.37%
500-999 50,000-99,999 4.75 100.29 5.33 5.36 5.38
1,000-2,499 100,000-249,999 4.50 100.03 5.35 5.38 5.40
2,500-4,999 250,000-499,999 4.25 99.77 5.36 5.39 5.41
5,000-9,999 500,000-999,999 3.50 98.99 5.40 5.43 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.48 5.43 5.46 5.48
25,000-49,999 2,500,000- 4,999,999 2.50 97.98 5.46 5.49 5.51
50,000 and over 5,000,000 and over 2.00 97.48 5.49 5.52 5.54
</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> <C>
------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5394(1) $ 5.2491
-------- $.4374 every month --------
Quarterly Distribution Plan........... $ .5394(1) $ .4398(2) $ 1.3194 $ 1.3194 $ 1.3194 $ 5.2811
Semi-Annual Distribution Plan......... $ .5394(1) $ 1.7664(3) $ 2.6496 $ 5.3001
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01458 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5394 per unit for the 37-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 07/01/95 is $.5394 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01458 Quarterly - $0.01466
Semi-Annual - $0.01472
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.9 years.
The first bond is scheduled to mature in May, 2012, with the last bond maturity
being July, 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
MICHIGAN
INSURED
TRUST 60
Estimated Current Return
First
Year: 5.29% to 5.51%
Subsequent
Years: 5.30% to 5.51%
as of 05/23/95
Estimated Long Term Return
5.38% to 5.61%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67095E 310 Monthly Payment Option
67095E 328 Quarterly Payment Option
67095E 336 Semi-Annual Payment Option
Registered in Michigan
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, MICHIGAN INSURED TRUST 60
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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 State of Michigan, State Trunk Line Fund Bonds, Series 2004 at 102 AAA Aaa
1994A, 5.75% Due 11/15/20.
500,000 Byron Center Public Schools, County of Kent, State of 2005 at 101 AAA Aaa
Michigan, 1995 School Building and Site and Refunding
Bonds, 5.875% Due 5/1/24. (General Obligation Bonds.)
500,000 Cedar Springs Public Schools, Counties of Kent and Newaygo, 2004 at 101 AAA Aaa
State of Michigan, 1995 School Building and Site Bonds, 1/2
5.875% Due 5/1/24. (Original issue discount bonds
delivered on or about March 1, 1995 at a price of 94.348%
of principal amount.)(General Obligation Bonds.)
500,000 County of Jackson Hospital Finance Authority (Michigan), 2003 at 102 AAA Aaa
Hospital Revenue Refunding Bonds (W.A. Foote Memorial
Hospital, Jackson, Michigan), Series 1993A, 5.25% Due
6/1/23.
400,000 Leslie Public Schools, Counties of Ingham and Jackson, State 2005 at 101 AAA Aaa
of Michigan, 1995 School Building and Site and Refunding
Bonds, 6.00% Due 5/1/25. (General Obligation Bonds.) (When
issued.)
100,000 Marysville Public Schools, St. Claire County, Michigan, 1995 2004 at 101 AAA Aaa
School Building and Site Bonds, 5.75% Due 5/1/13. (General
Obligation Bonds.)
485,000 City of Mt. Pleasant, County of Isabella, State of Michigan, 2004 at 102 AAA Aaa
Water Supply System Revenue Bonds, Series 1994, 6.00% Due
2/1/21.
150,000 Okemos Public Schools, County of Ingham, State of Michigan, No Optional AAA Aaa
1993 Refunding Bonds, 0.00% Due 5/1/21. (Original issue Call
discount bonds delivered on or about February 2, 1993 at a
price of 16.193% of principal amount.)(General Obligation
Bonds.)
500,000 City of Royal Oak Hospital Finance Authority (Michigan), 2003 at 102 AAA Aaa
Hospital Revenue Refunding Bonds (William Beaumont
Hospital), Series 1993G, 5.25% Due 11/15/19. (Original
issue discount bonds delivered on or about December 16,
1993 at a price of 94.197% of principal amount.)
115,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds), 5.75% Due 7/1/24. 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.96 (5.29%) 5.30% (5.32%) 5.33% (5.34%) 5.35%
500-999 50,000-99,999 4.75 98.80 (5.30) 5.31 (5.33) 5.34 (5.35) 5.36
1,000-2,499 100,000-249,999 4.50 98.54 (5.31) 5.32 (5.35) 5.36 (5.37) 5.37
2,500-4,999 250,000-499,999 4.25 98.29 (5.33) 5.34 (5.36) 5.37 (5.38) 5.39
5,000-9,999 500,000-999,999 3.50 97.52 (5.37) 5.38 (5.40) 5.41 (5.42) 5.43
10,000-24,999 1,000,000- 2,499,999 3.00 97.02 (5.40) 5.41 (5.43) 5.44 (5.45) 5.46
25,000-49,999 2,500,000- 4,999,999 2.50 96.52 (5.42) 5.43 (5.46) 5.47 (5.48) 5.49
50,000 and over 5,000,000 and over 2.00 96.03 (5.45) 5.46 (5.49) 5.50 (5.51) 5.51
</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 % $ 98.96 5.38% 5.42% 5.44%
500-999 50,000-99,999 4.75 98.80 5.39 5.43 5.45
1,000-2,499 100,000-249,999 4.50 98.54 5.41 5.44 5.46
2,500-4,999 250,000-499,999 4.25 98.29 5.42 5.46 5.47
5,000-9,999 500,000-999,999 3.50 97.52 5.46 5.50 5.52
10,000-24,999 1,000,000- 2,499,999 3.00 97.02 5.49 5.53 5.55
25,000-49,999 2,500,000- 4,999,999 2.50 96.52 5.52 5.56 5.58
50,000 and over 5,000,000 and over 2.00 96.03 5.55 5.59 5.61
</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
Michigan Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5387(1) $ 5.2448
-------- $.4368 every month --------
Quarterly Distribution Plan........... $ .5387(1) $ .4395(2) $ 1.3185 $ 1.3185 $ 1.3185 $ 5.2768
Semi-Annual Distribution Plan......... $ .5387(1) $ 1.7652(3) $ 2.6478 $ 5.2958
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01456 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5387 per unit for the 37-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 07/01/95 is $.5387 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01456 Quarterly - $0.01465
Semi-Annual - $0.01471
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.1 years.
The first bond is scheduled to mature in May, 2013, with the last bond maturity
being May, 2025.
-------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
-------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
-------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
-------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
-------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
-------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
-------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 192
Estimated Current Return
First
Year: 5.20% to 5.41%
Subsequent
Years: 5.21% to 5.43%
as of 05/23/95
Estimated Long Term Return
5.31% to 5.52%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706L6 794 Monthly Payment Option
6706L6 802 Quarterly Payment Option
6706L6 810 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 192
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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 New Jersey Building Authority, State Building Revenue Bonds, 2003 at 102 AAA Aaa
1994 Series, 5.00% Due 6/15/15.
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 Economic Development Authority, Revenue Bonds 2003 at 102 AAA Aaa
(Saint Barnabas Realty Development Corporation Project),
Series 1993, 5.25% Due 7/1/20.
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.)
145,000 The Camden County Municipal Utilities Authority (New No Optional AAA Aaa
Jersey), County Agreement Sewer Revenue Capital Call
Appreciation Bonds, 1990B Series, 0.00% Due 9/1/16.
(Original issue discount bonds delivered on or about
February 21, 1990 at a price of 14.736% of principal
amount.)(General Obligation Bonds.)
500,000 The Essex County Improvement Authority (Essex County, New 2005 at 102 AAA Aaa
Jersey), County of Essex General Obligation Lease Revenue
Bonds, Series 1995 (Gibraltar Building Project), 5.95% Due
12/1/25. (When issued.)
600,000 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.
355,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds), 5.75% Due 7/1/24. 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 % $ 100.13 (5.20%) 5.21% (5.23%) 5.25% (5.25%) 5.27%
500-999 50,000-99,999 4.75 99.97 (5.21) 5.22 (5.24) 5.26 (5.26) 5.27
1,000-2,499 100,000-249,999 4.50 99.71 (5.22) 5.24 (5.26) 5.27 (5.27) 5.29
2,500-4,999 250,000-499,999 4.25 99.45 (5.24) 5.25 (5.27) 5.28 (5.29) 5.30
5,000-9,999 500,000-999,999 3.50 98.67 (5.28) 5.29 (5.31) 5.32 (5.33) 5.34
10,000-24,999 1,000,000- 2,499,999 3.00 98.17 (5.31) 5.32 (5.34) 5.35 (5.36) 5.37
25,000-49,999 2,500,000- 4,999,999 2.50 97.66 (5.33) 5.35 (5.37) 5.38 (5.39) 5.40
50,000 and over 5,000,000 and over 2.00 97.16 (5.36) 5.37 (5.39) 5.41 (5.41) 5.43
</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 % $ 100.13 5.31% 5.34% 5.35%
500-999 50,000-99,999 4.75 99.97 5.31 5.34 5.36
1,000-2,499 100,000-249,999 4.50 99.71 5.33 5.36 5.38
2,500-4,999 250,000-499,999 4.25 99.45 5.34 5.37 5.39
5,000-9,999 500,000-999,999 3.50 98.67 5.39 5.41 5.43
10,000-24,999 1,000,000- 2,499,999 3.00 98.17 5.41 5.44 5.46
25,000-49,999 2,500,000- 4,999,999 2.50 97.66 5.44 5.47 5.49
50,000 and over 5,000,000 and over 2.00 97.16 5.47 5.50 5.52
</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*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5365(1) $ 5.2218
-------- $.4350 every month --------
Quarterly Distribution Plan........... $ .5365(1) $ .4377(2) $ 1.3131 $ 1.3131 $ 1.3131 $ 5.2538
Semi-Annual Distribution Plan......... $ .5365(1) $ 1.7568(3) $ 2.6352 $ 5.2728
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01450 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5365 per unit for the 37-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 07/01/95 is $.5365 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01450 Quarterly - $0.01459
Semi-Annual - $0.01464
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.3 years.
The first bond is scheduled to mature in July, 2011, 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
TENNESSEE
INSURED
TRUST 28
Estimated Current Return
5.06% to 5.26%
as of 05/23/95
Estimated Long Term Return
5.24% to 5.45%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064V 137 Monthly Payment Option
67064V 145 Quarterly Payment Option
67064V 152 Semi-Annual Payment Option
Registered in Tennessee
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, TENNESSEE INSURED TRUST 28
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 24, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 505,000 State of Tennessee, General Obligation Bonds, 1995 Series A, 2005 at 100 AAA Aaa
5.75% Due 3/1/15.
500,000 The Health and Educational Facilities Board of the City of 2003 at 102 AAA Aaa
Bristol, Tennessee, Hospital Revenue Refunding Bonds,
Series 1993 (Bristol Memorial Hospital), 5.25% Due 9/1/21.
(Original issue discount bonds delivered on or about
September 2, 1993 at a price of 94.676% of principal
amount.)
305,000 The Health, Educational and Housing Facilities Board of the 2004 at 102 AAA Aaa
County of Knox (Tennessee), Hospital Revenue Bonds, Series
1993A (Fort Sanders Alliance Obligated Group), 5.25% Due
1/1/13.
500,000 Memphis-Shelby County Airport Authority (Tennessee), Airport 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.65% Due 9/1/15.
500,000 The Metropolitan Government of Nashville and Davidson County 2003 at 102 AAA Aaa
(Tennessee), General Obligation Multi-Purpose Improvement
Bonds, Series 1995, 5.70% Due 5/15/25.
190,000 Rutherford County, Tennessee, School Bonds, Series 1995, 2007 at 81.31 AAA Aaa
0.00% Due 5/1/11. (Original issue discount bonds will be
delivered on or about May 30, 1995 at a price of 39.019%
of principal amount.)(General Obligation Bonds.) (When
issued.)
500,000 Shelby County, Tennessee, General Obligation Refunding 2005 at 101 AAA Aaa
Bonds, 1995 Series A, 5.625% Due 4/1/14. (When issued.)
500,000 Williamson County, Tennessee, General Obligation School and 2005 at 102 AAA Aaa
Public Works Bonds, Series 1995, 5.625% Due 3/1/13.
----------
$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 % $ 99.88 5.06% 5.09% 5.11%
500-999 50,000-99,999 4.75 99.73 5.07 5.10 5.12
1,000-2,499 100,000-249,999 4.50 99.47 5.08 5.11 5.13
2,500-4,999 250,000-499,999 4.25 99.21 5.09 5.12 5.14
5,000-9,999 500,000-999,999 3.50 98.44 5.13 5.16 5.18
10,000-24,999 1,000,000- 2,499,999 3.00 97.93 5.16 5.19 5.21
25,000-49,999 2,500,000- 4,999,999 2.50 97.43 5.19 5.22 5.24
50,000 and over 5,000,000 and over 2.00 96.93 5.21 5.25 5.26
</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 % $ 99.88 5.24% 5.27% 5.29%
500-999 50,000-99,999 4.75 99.73 5.25 5.27 5.29
1,000-2,499 100,000-249,999 4.50 99.47 5.26 5.29 5.31
2,500-4,999 250,000-499,999 4.25 99.21 5.27 5.30 5.32
5,000-9,999 500,000-999,999 3.50 98.44 5.32 5.35 5.37
10,000-24,999 1,000,000- 2,499,999 3.00 97.93 5.35 5.37 5.39
25,000-49,999 2,500,000- 4,999,999 2.50 97.43 5.37 5.40 5.42
50,000 and over 5,000,000 and over 2.00 96.93 5.40 5.43 5.45
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Tennessee Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 7/1 8/1 11/1 2/1 5/1
Distribution Date..................... 7/15 8/15 11/15 2/15 5/15
---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5191(1) $ 5.0521
-------- $.4209 every month --------
Quarterly Distribution Plan........... $ .5191(1) $ .4236(2) $ 1.2708 $ 1.2708 $ 1.2708 $ 5.0841
Semi-Annual Distribution Plan......... $ .5191(1) $ 1.7004(3) $ 2.5506 $ 5.1031
---------------------------------------------------------------------------------------------------------------------------------
<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 4-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 $.01403 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.5191 per unit for the 37-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 07/01/95 is $.5191 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01403 Quarterly - $0.01412
Semi-Annual - $0.01417
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.
--------------------------------------------------------------------------------
804
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 21.4 years.
The first bond is scheduled to mature in May, 2011, with the last bond maturity
being May, 2025.
-------------------------------------------------------
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.
