<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MARYLAND
TRUST 307
(MARYLAND TRADITIONAL TRUST 307)
Estimated Current Return
5.09% to 5.30%
as of 05/30/95
Estimated Long Term Return
5.19% to 5.41%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67102E 139 Monthly Payment Option
67102E 147 Quarterly Payment Option
67102E 154 Semi-Annual Payment Option
Registered in Maryland
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--MARYLAND TRADITIONAL TRUST 307
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 31, 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 Maryland Health and Higher Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Anne Arundel Medical Center Issue, Series
1993, 5.00% Due 7/1/23. (Original issue discount bonds
delivered on or about March 30, 1993 at a price of 93.00%
of principal amount.)(AMBAC Insured.)
500,000 Maryland Health and Higher Educational Facilities Authority, 2003 at 100 AAA Aaa
Project and Refunding Revenue Bonds, Sinai Hospital of
Baltimore Issue, Series 1993, 5.25% Due 7/1/23. (Original
issue discount bonds delivered on or about June 29, 1993
at a price of 92.89% of principal amount.)(AMBAC Insured.)
500,000 University of Maryland System, Auxiliary Facility and 2003 at 102 AA+ Aa
Tuition Revenue Bonds, 1993 Series A, 5.50% Due 4/1/12.
500,000 City of Baltimore, Maryland (Mayor and City Council of No Optional AAA Aaa
Baltimore), Refunding Revenue Bonds (Wastewater Projects), Call
Series 1994-A, 5.00% Due 7/1/22. (Original issue discount
bonds delivered on or about February 24, 1994 at a price
of 94.22% of principal amount.)(FGIC Insured.)
500,000 The Mayor and Council of Rockville (Maryland), Mortgage 2004 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1994A (FHA Insured
Mortgage Loan-The Summit Apartments Project), 5.625% Due
7/1/19. (MBIA Insured.)
500,000 Washington Suburban Sanitary District, Maryland (Montgomery 2004 at 102 AA Aa1
and Prince George's Counties, Maryland), Water Supply
Refunding Bonds of 1994, 5.00% Due 6/1/11. (General
Obligation Bonds.)
500,000 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.)
----------
$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 % $ 100.08 5.09% 5.12% 5.14%
500-999 50,000-99,999 4.75 99.93 5.10 5.13 5.15
1,000-2,499 100,000-249,999 4.50 99.67 5.11 5.14 5.16
2,500-4,999 250,000-499,999 4.25 99.41 5.12 5.16 5.18
5,000-9,999 500,000-999,999 3.50 98.63 5.16 5.20 5.22
10,000-24,999 1,000,000- 2,499,999 3.00 98.12 5.19 5.22 5.24
25,000-49,999 2,500,000- 4,999,999 2.50 97.62 5.22 5.25 5.27
50,000 and over 5,000,000 and over 2.00 97.12 5.24 5.28 5.30
</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 % $ 100.08 5.19% 5.23% 5.25%
500-999 50,000-99,999 4.75 99.93 5.20 5.24 5.26
1,000-2,499 100,000-249,999 4.50 99.67 5.21 5.25 5.27
2,500-4,999 250,000-499,999 4.25 99.41 5.23 5.26 5.28
5,000-9,999 500,000-999,999 3.50 98.63 5.27 5.31 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 98.12 5.30 5.34 5.35
25,000-49,999 2,500,000- 4,999,999 2.50 97.62 5.32 5.36 5.38
50,000 and over 5,000,000 and over 2.00 97.12 5.35 5.39 5.41
</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
Maryland 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............. $ .4383(1) $ 5.0937
-------- $.4242 every month --------
Quarterly Distribution Plan........... $ .4383(1) $ .4269(2) $ 1.2807 $ 1.2807 $ 1.2807 $ 5.1257
Semi-Annual Distribution Plan......... $ .4383(1) $ 1.7148(3) $ 2.5722 $ 5.1447
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.08 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 $.01414 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.4383 per unit for the 31-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 $.4383 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01414 Quarterly - $0.01423
Semi-Annual - $0.01429
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.
- --------------------------------------------------------------------------------
805
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.2 years.
The first bond is scheduled to mature in June, 2011, with the last bond maturity
being July, 2024.
- -------------------------------------------------------
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 71%
AA 29
---
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
NORTH CAROLINA
TRUST 289
(NORTH CAROLINA TRADITIONAL TRUST 289)
Estimated Current Return
First
Year: 5.01% to 5.22%
Subsequent
Years: 5.05% to 5.25%
as of 05/30/95
Estimated Long Term Return
5.14% to 5.34%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6710A2 375 Monthly Payment Option
6710A2 383 Quarterly Payment Option
6710A2 391 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 289
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 31, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 285,000 North Carolina Medical Care Commission Hospital Revenue 2003 at 102 AAA Aaa
Refunding Bonds (Memorial Mission Hospital Project),
Series 1993, 5.50% Due 10/1/11. (MBIA Insured.)
500,000 City of Charlotte, North Carolina, General Obligation Water 2004 at 102 AAA Aaa
and Sewer Bonds, Series 1994, 5.80% Due 2/1/16.
500,000 City of Charlotte, North Carolina, Refunding Certificates of 2003 at 100 AAA Aaa
Participation (Convention Facility Project), Series 1993C,
5.00% Due 12/1/21. (Original issue discount bonds
delivered on or about August 25, 1993 at a price of
90.737% of principal amount.)(AMBAC Insured.)
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.)
415,000 City of Gastonia, North Carolina, Street Improvement Bonds, 2005 at 102 AAA Aaa
Series 1995, 5.30% Due 6/1/13. (General Obligation Bonds.)
(When issued.) (FGIC Insured.)
500,000 County of Moore, North Carolina, Certificates of 2004 at 102 AAA Aaa
Participation (1994 Moore County Jail Facilities Project),
5.25% Due 2/1/10. (MBIA Insured.)
300,000 City of Morganton, North Carolina, Water and Sewer Bonds, 2005 at 102 AAA Aaa
Series 1995, 5.70% Due 6/1/12. (General Obligation Bonds.)
(FGIC Insured.)
500,000 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.)
----------
$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 % $ 101.93 (5.01%) 5.05% (5.05%) 5.08% (5.06%) 5.10%
500-999 50,000-99,999 4.75 101.77 (5.02) 5.05 (5.05) 5.09 (5.07) 5.10
1,000-2,499 100,000-249,999 4.50 101.51 (5.04) 5.07 (5.07) 5.10 (5.09) 5.12
2,500-4,999 250,000-499,999 4.25 101.24 (5.05) 5.08 (5.08) 5.11 (5.10) 5.13
5,000-9,999 500,000-999,999 3.50 100.46 (5.09) 5.12 (5.12) 5.15 (5.14) 5.17
10,000-24,999 1,000,000- 2,499,999 3.00 99.94 (5.11) 5.15 (5.15) 5.18 (5.17) 5.20
25,000-49,999 2,500,000- 4,999,999 2.50 99.43 (5.14) 5.17 (5.17) 5.21 (5.19) 5.22
50,000 and over 5,000,000 and over 2.00 98.92 (5.17) 5.20 (5.20) 5.23 (5.22) 5.25
</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 % $ 101.93 5.14% 5.16% 5.18%
500-999 50,000-99,999 4.75 101.77 5.14 5.17 5.19
1,000-2,499 100,000-249,999 4.50 101.51 5.16 5.19 5.21
2,500-4,999 250,000-499,999 4.25 101.24 5.17 5.20 5.22
5,000-9,999 500,000-999,999 3.50 100.46 5.21 5.24 5.26
10,000-24,999 1,000,000- 2,499,999 3.00 99.94 5.24 5.27 5.29
25,000-49,999 2,500,000- 4,999,999 2.50 99.43 5.27 5.29 5.31
50,000 and over 5,000,000 and over 2.00 98.92 5.29 5.32 5.34
</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
North Carolina 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............. $ .4409(1) $ 5.1438
-------- $.4284 every month --------
Quarterly Distribution Plan........... $ .4409(1) $ .4311(2) $ 1.2933 $ 1.2933 $ 1.2933 $ 5.1758
Semi-Annual Distribution Plan......... $ .4409(1) $ 1.7316(3) $ 2.5974 $ 5.1948
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.09 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 (07/01/95), accrued interest will total
$0.4409 per unit for the 31-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 $.4409 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01428 Quarterly - $0.01437
Semi-Annual - $0.01443
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.
- --------------------------------------------------------------------------------
805
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 20.6 years.
The first bond is scheduled to mature in February, 2010, with the last bond
maturity being July, 2024.
- -------------------------------------------------------
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 100%
---
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 YORK
INSURED
TRUST 236
Estimated Current Return
5.18% to 5.39%
as of 05/30/95
Estimated Long Term Return
5.31% to 5.53%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101K 375 Monthly Payment Option
67101K 383 Quarterly Payment Option
67101K 391 Semi-Annual Payment Option
Registered in New York, Connecticut & Florida
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NEW YORK INSURED TRUST 236
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT MAY 31, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 600,000 New York State Medical Care Facilities Finance Agency, 2005 at 102 AAA Aaa
Mental Health Services Facilities Improvement Revenue
Bonds, 1995 Series A, 6.00% Due 2/15/25. (General
Obligation Bonds.)
600,000 New York State Urban Development Corporation, Correctional 2004 at 102 AAA Aaa
Facilities Revenue Bonds, 1993A Refunding Series, 5.50%
Due 1/1/16.
150,000 The City of New York, General Obligation Bonds, Fiscal 1994 No Optional AAA Aaa
Series E, 0.00% Due 8/1/18. (Original issue discount bonds Call
delivered on or about December 29, 1993 at a price of
23.371% of principal amount.)
350,000 The City of New York (New York), General Obligation Bonds, 2003 at 101 AAA Aaa
Fiscal 1994 Series C, 5.375% Due 10/1/21. (Original issue 1/2
discount bonds delivered on or about October 14, 1993 at a
price of 94.15% of principal amount.)
500,000 Metropolitan Transportation Authority (New York), Commuter 2003 at 102 AAA Aaa
Facilities 1987 Service Contract Bonds, Series 7, 5.625%
Due 7/1/16.
600,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal 1/2
1994 Series F, 5.75% Due 6/15/20.
600,000 Triborough Bridge and Tunnel Authority (New York), General 2004 at 100 AAA Aaa
Purpose Revenue Bonds, Series 1994A, 4.75% Due 1/1/19.
(Original issue discount bonds delivered on or about
February 15, 1994 at a price of 93.225% of principal
amount.)
600,000 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>
50-499 $5,000-$49,999 4.90 % $ 98.80 5.18% 5.21% 5.23%
500-999 50,000-99,999 4.75 98.65 5.19 5.22 5.24
1,000-2,499 100,000-249,999 4.50 98.39 5.20 5.24 5.26
2,500-4,999 250,000-499,999 4.25 98.13 5.22 5.25 5.27
5,000-9,999 500,000-999,999 3.50 97.37 5.26 5.29 5.31
10,000-24,999 1,000,000- 2,499,999 3.00 96.87 5.29 5.32 5.34
25,000-49,999 2,500,000- 4,999,999 2.50 96.37 5.31 5.35 5.37
50,000 and over 5,000,000 and over 2.00 95.88 5.34 5.37 5.39
</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 % $ 98.80 5.31% 5.35% 5.36%
500-999 50,000-99,999 4.75 98.65 5.31 5.35 5.37
1,000-2,499 100,000-249,999 4.50 98.39 5.33 5.37 5.39
2,500-4,999 250,000-499,999 4.25 98.13 5.34 5.38 5.40
5,000-9,999 500,000-999,999 3.50 97.37 5.39 5.42 5.44
10,000-24,999 1,000,000- 2,499,999 3.00 96.87 5.41 5.45 5.47
25,000-49,999 2,500,000- 4,999,999 2.50 96.37 5.44 5.48 5.50
50,000 and over 5,000,000 and over 2.00 95.88 5.47 5.51 5.53
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
New York Insured Trust 1995 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............. $ .4408(1) $ 5.1202
-------- $.4266 every month --------
Quarterly Distribution Plan........... $ .4408(1) $ .4293(2) $ 1.2879 $ 1.2879 $ 1.2879 $ 5.1522
Semi-Annual Distribution Plan......... $ .4408(1) $ 1.7232(3) $ 2.5848 $ 5.1712
- ---------------------------------------------------------------------------------------------------------------------------------
<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 $.09 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 $.01422 per unit per day.
Consequently, on the first Record Date (07/01/95), accrued interest will total
$0.4408 per unit for the 31-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 $.4408 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01422 Quarterly - $0.01431
Semi-Annual - $0.01436
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.
- --------------------------------------------------------------------------------
805
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.0 years.
The first bond is scheduled to mature in January, 2016, with the last bond
maturity being February, 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.
