<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 298
Estimated Current Return
5.42% to 5.64%
as of 06/20/95
Estimated Long Term Return
5.51% to 5.72%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A4 132 Monthly Payment Option
6710A4 140 Quarterly Payment Option
6710A4 157 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NATIONAL INSURED TRUST 298
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 21, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 The Special Care Facilities Financing Authority of the City 2005 at 102 AAA Aaa
of Birmingham (Alabama), Baptist Medical Centers, Revenue
Bonds, Series 1995-B (Baptist Health System, Inc.), 5.875%
Due 11/15/15.
500,000 State Public Works Board of the State of California, Lease 2003 at 102 AAA Aaa
Revenue Bonds (Department of Corrections), 1993 Series B
(California State Prison-Fresno County, Coalinga), 5.375%
Due 12/1/19. (Original issue discount bonds delivered on
or about April 14, 1993 at a price of 94.522% of principal
amount.)
500,000 Contra Costa Water District (Contra Costa County, 2004 at 102 AAA Aaa
California), Water Revenue Bonds, Series G, 5.75% Due
10/1/14.
1,000,000 City of Fresno, California, Health Facility Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993B (Holy Cross Health System Corporation),
5.625% Due 12/1/15.
1,000,000 Metropolitan Pier and Exposition Authority (Illinois), 2004 at 102 AAA Aaa
McCormick Place Expansion Project Refunding Bonds, Series
1994A, 6.00% Due 6/15/27. (Original issue discount bonds
delivered on or about June 23, 1994 at a price of 93.881%
of principal amount.)
1,000,000 Public Building Commission of Chicago (Illinois), Building 2003 at 102 AAA Aaa
Revenue Bonds, Series A of 1993 (Board of Education of the
City of Chicago), 5.75% Due 12/1/18. (General Obligation
Bonds.)
1,500,000 City of Bloomington, Indiana, Monroe County, Sewage Works 2005 at 102 AAA Aaa
Revenue Bonds of 1995, 5.875% Due 1/1/25.
1,000,000 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.
250,000 New York Local Government Assistance Corporation (New York), 2005 at 102 AAA Aaa
Series 1995A Bonds, 6.00% Due 4/1/24.
250,000 Centre County Higher Education Authority (Pennsylvania), No Optional AAA Aaa
Project Revenue Bonds, Series 1992A (Centre Medical Call
Science Building Project), 0.00% Due 4/1/17. (Original
issue discount bonds delivered on or about October 22,
1992 at a price of 20.211% of principal amount.)
1,000,000 King County, Washington, Limited Tax Obligation Bonds, 1995, 2005 at 102 AAA Aaa
6.25% Due 1/1/35. (General Obligation Bonds.)
1,000,000 Washington Public Power Supply System (Bonneville), Nuclear 2003 at 102 AAA Aaa
Project No. 1 Refunding Revenue Bonds, Series 1993C,
5.375% Due 7/1/15.
----------
$10,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.09 5.42% 5.45% 5.47%
500-999 50,000-99,999 4.75 99.94 5.43 5.46 5.48
1,000-2,499 100,000-249,999 4.50 99.68 5.44 5.48 5.50
2,500-4,999 250,000-499,999 4.25 99.42 5.46 5.49 5.51
5,000-9,999 500,000-999,999 3.50 98.64 5.50 5.53 5.55
10,000-24,999 1,000,000- 2,499,999 3.00 98.13 5.53 5.56 5.58
25,000-49,999 2,500,000- 4,999,999 2.50 97.63 5.56 5.59 5.61
50,000 and over 5,000,000 and over 2.00 97.13 5.59 5.62 5.64
</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 % $ 100.09 5.51% 5.54% 5.55%
500-999 50,000-99,999 4.75 99.94 5.51 5.54 5.56
1,000-2,499 100,000-249,999 4.50 99.68 5.53 5.56 5.58
2,500-4,999 250,000-499,999 4.25 99.42 5.54 5.57 5.59
5,000-9,999 500,000-999,999 3.50 98.64 5.59 5.62 5.64
10,000-24,999 1,000,000- 2,499,999 3.00 98.13 5.62 5.65 5.67
25,000-49,999 2,500,000- 4,999,999 2.50 97.63 5.65 5.68 5.69
50,000 and over 5,000,000 and over 2.00 97.13 5.67 5.70 5.72
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
National Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6028(1) $ 5.4276
-------- $.4521 every month --------
Quarterly Distribution Plan........... $ .6028(1) $ 1.3644(2) $ 1.3644 $ 1.3644 $ 5.4596
Semi-Annual Distribution Plan......... $ .6028(1) $ 1.3689(3) $ 2.7378 $ 5.4786
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.01507 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.6028 per unit for the 40-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 08/01/95 is $.6028 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01507 Quarterly - $0.01516
Semi-Annual - $0.01521
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 12 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 7 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
Alabama 10.4
California 19.8
Illinois 20.9
Indiana 15.7
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New Jersey 9.9
New York 2.7
Washington 20.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 27.3 years. The first bond is scheduled to mature in
October, 2014, with the last bond maturity being January, 2035.
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
808
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
SHORT INTERMEDIATE
INSURED
TRUST 42
Estimated Current Return
First
Year: 4.04% to 4.15%
Subsequent
Years: 4.06% to 4.17%
as of 06/20/95
Estimated Long Term Return
4.32% to 4.43%
60,000 units in a
diversified $6,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A0 551 Monthly Payment Option
6710A0 569 Quarterly Payment Option
6710A0 577 Semi-Annual Payment Option
Registered in all states
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, SHORT INTERMEDIATE INSURED TRUST 42
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 21, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 265,000 Fresno County Financing Authority (California), Solid Waste No Optional AAA Aaa
Revenue Bonds, Series 1995 (American Avenue Landfill Call
Project), 4.70% Due 5/15/00. (When issued.)
900,000 The Illinois State Toll Highway Authority, Toll Highway No Optional AAA Aaa
Refunding Revenue Bonds, 1993 Series A, 4.50% Due 1/1/00. Call
600,000 State Building Authority, State of Michigan, 1993 Revenue No Optional AAA Aaa
Refunding Bonds, Series I, 4.40% Due 10/1/00. Call
485,000 Southern Minnesota Municipal Power Agency, Power Supply No Optional AAA Aaa
System Revenue Bonds, Series 1993 A, 4.40% Due 1/1/00. Call
520,000 Anderson County, South Carolina, Hospital Revenue Bonds No Optional AAA Aaa
(Anderson Area Medical Center, Inc.), Series 1993, 4.40% Call
Due 2/1/00.
250,000 Lower Colorado River Authority, Texas, Junior Lien Refunding No Optional AAA Aaa
Revenue Bonds, Series 1992, 0.00% Due 1/1/00. (Original Call
issue discount bonds delivered on or about March 19, 1992
at a price of 62.408% of principal amount.)
600,000 City of Dallas, Texas (Dallas, Denton And Collin Counties), No Optional AAA Aaa
Waterworks and Sewer System Revenue Refunding Bonds, Call
Series 1993, 4.50% Due 4/1/00.
600,000 City of Sugar Land, Texas (Fort Bend County), Public No Optional AAA Aaa
Improvement and Refunding General Obligation Bonds, Series Call
1995, 4.60% Due 3/15/00. (When issued.)
330,000 Intermountain Power Agency (Utah), Power Supply Revenue No Optional AAA Aaa
Refunding Bonds, 1993 Series C, 4.50% Due 7/1/00. Call
500,000 The City of Seattle, Washington, Water System and Refunding No Optional AAA Aaa
Revenue Bonds, 1993, 4.70% Due 12/1/00. Call
500,000 Public Utility District No. 1 of Chelan County, Washington, No Optional AAA Aaa
Chelan Hydro Consolidated System Revenue Bonds, Refunding Call
Series 1995B, 4.70% Due 7/1/00. (When issued.)
450,000 Public Utility District No. 1 of Clark County, Washington, No Optional AAA Aaa
Electric System Revenue and Refunding Bonds, Series 1993, Call
4.30% Due 1/1/00.
----------
$6,000,000
----------
----------
</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 3.00 % $ 101.73 (4.04%) 4.06% (4.07%) 4.09% (4.09%) 4.11%
500-999 50,000-99,999 2.80 101.52 (4.04) 4.06 (4.08) 4.10 (4.09) 4.11
1,000-2,499 100,000-249,999 2.60 101.31 (4.05) 4.07 (4.08) 4.10 (4.10) 4.12
2,500-4,999 250,000-499,999 2.35 101.06 (4.06) 4.08 (4.09) 4.11 (4.11) 4.13
5,000-9,999 500,000-999,999 2.10 100.80 (4.07) 4.09 (4.10) 4.13 (4.12) 4.14
10,000-24,999 1,000,000- 2,499,999 1.85 100.54 (4.08) 4.10 (4.12) 4.14 (4.13) 4.15
25,000-49,999 2,500,000- 4,999,999 1.80 100.49 (4.09) 4.11 (4.12) 4.14 (4.14) 4.16
50,000 and over 5,000,000 and over 1.50 100.18 (4.10) 4.12 (4.13) 4.15 (4.15) 4.17
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 3.00 % $ 101.73 4.32% 4.35% 4.37%
500-999 50,000-99,999 2.80 101.52 4.33 4.36 4.37
1,000-2,499 100,000-249,999 2.60 101.31 4.33 4.36 4.38
2,500-4,999 250,000-499,999 2.35 101.06 4.34 4.37 4.39
5,000-9,999 500,000-999,999 2.10 100.80 4.36 4.39 4.41
10,000-24,999 1,000,000- 2,499,999 1.85 100.54 4.37 4.40 4.42
25,000-49,999 2,500,000- 4,999,999 1.80 100.49 4.37 4.40 4.42
50,000 and over 5,000,000 and over 1.50 100.18 4.38 4.41 4.43
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Short Intermediate Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .4584(1) $ 4.1261
-------- $.3438 every month --------
Quarterly Distribution Plan........... $ .4584(1) $ 1.0395(2) $ 1.0395 $ 1.0395 $ 4.1581
Semi-Annual Distribution Plan......... $ .4584(1) $ 1.0440(3) $ 2.0880 $ 4.1771
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.06 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 $.01146 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.4584 per unit for the 40-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 08/01/95 is $.4584 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01146 Quarterly - $0.01155
Semi-Annual - $0.01160
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 12 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 8 states.
- -------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
- ------------------------
%
California 4.8
Illinois 15.6
Michigan 10.2
Minnesota 8.2
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
South Carolina 8.8
Texas 21.1
Utah 5.7
Washington 25.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 4.8 years.
<TABLE>
<CAPTION>
Year Bonds Mature Amount Percent
- ------------------------------------- ---------- -----------
<S> <C> <C>
2000................................. 6,000 100%
</TABLE>
- -------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
808
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 193
Estimated Current Return
5.20% to 5.41%
as of 06/20/95
Estimated Long Term Return
5.34% to 5.55%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706L6 828 Monthly Payment Option
6706L6 836 Quarterly Payment Option
6706L6 844 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 193
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 21, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 180,000 New Jersey Building Authority, State Building Revenue Bonds, 2003 at 102 AAA Aaa
1994 Series, 5.00% Due 6/15/11.
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.
455,000 New Jersey Economic Development Authority, Parking Facility 2004 at 102 AAA Aaa
Sublease Revenue Bonds (New Jersey Transit Corporation),
Series 1994, 5.75% Due 12/15/17.
500,000 New Jersey Educational Facilities Authority, Revenue Bonds, 2004 at 102 AAA Aaa
New Jersey Institute of Technology Issue, Series 1994A,
6.00% Due 7/1/24.
165,000 New Jersey Health Care Facilities Financing Authority, 2005 at 101 AAA Aaa
Revenue Bonds, JFK Health Systems, Obligated Group Issue,
Series 1995, 5.70% Due 7/1/25.
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.)
200,000 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 Pollution Control Financing Authority of Salem County 2003 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1993 Series C (Public Service Electric and Gas Company
Project), 5.55% Due 11/1/33.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.50% Due 1/2
7/1/13.
----------
$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 % $ 99.33 5.20% 5.23% 5.25%
500-999 50,000-99,999 4.75 99.17 5.21 5.24 5.26
1,000-2,499 100,000-249,999 4.50 98.91 5.22 5.25 5.27
2,500-4,999 250,000-499,999 4.25 98.65 5.23 5.27 5.29
5,000-9,999 500,000-999,999 3.50 97.89 5.27 5.31 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 97.38 5.30 5.33 5.35
25,000-49,999 2,500,000- 4,999,999 2.50 96.88 5.33 5.36 5.38
50,000 and over 5,000,000 and over 2.00 96.39 5.36 5.39 5.41
</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 % $ 99.33 5.34% 5.36% 5.38%
500-999 50,000-99,999 4.75 99.17 5.34 5.37 5.39
1,000-2,499 100,000-249,999 4.50 98.91 5.36 5.39 5.41
2,500-4,999 250,000-499,999 4.25 98.65 5.37 5.40 5.42
5,000-9,999 500,000-999,999 3.50 97.89 5.41 5.44 5.46
10,000-24,999 1,000,000- 2,499,999 3.00 97.38 5.44 5.47 5.49
25,000-49,999 2,500,000- 4,999,999 2.50 96.88 5.47 5.50 5.52
50,000 and over 5,000,000 and over 2.00 96.39 5.50 5.53 5.55
</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 Jersey Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5736(1) $ 5.1627
-------- $.4302 every month --------
Quarterly Distribution Plan........... $ .5736(1) $ 1.2978(2) $ 1.2978 $ 1.2978 $ 5.1947
Semi-Annual Distribution Plan......... $ .5736(1) $ 1.3032(3) $ 2.6064 $ 5.2137
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.07 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 $.01434 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.5736 per unit for the 40-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 08/01/95 is $.5736 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01434 Quarterly - $0.01442
Semi-Annual - $0.01448
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.
- --------------------------------------------------------------------------------
808
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.8 years.
The first bond is scheduled to mature in June, 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
PENNSYLVANIA
INSURED
TRUST 198
Estimated Current Return
5.32% to 5.54%
as of 06/20/95
Estimated Long Term Return
5.40% to 5.62%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H8 167 Monthly Payment Option
6706H8 175 Quarterly Payment Option
6706H8 183 Semi-Annual Payment Option
Registered in Pennsylvania & Florida
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, PENNSYLVANIA INSURED TRUST 198
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JUNE 21, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 Commonwealth of Pennsylvania, General Obligation Bonds, 2004 at 101 AAA Aaa
Second Series of 1994 (Refunding and Projects), 5.60% Due 1/2
6/15/14.
500,000 Pennsylvania Intergovernmental Cooperation Authority, 2003 at 100 AAA Aaa
Special Tax Revenue Bonds (City of Philadelphia Funding
Program), Series of 1993, 5.625% Due 6/15/23.
500,000 Hampton Township School District (Allegheny County, 2005 at 100 AAA Aaa
Pennsylvania), General Obligation Bonds, Refunding Series
A of 1995, 6.00% Due 11/15/21.
500,000 Montgomery County Higher Education and Health Authority 2004 at 102 AAA Aaa
(Pennsylvania), Hospital Revenue Bonds, Series A of 1994
(Abington Memorial Hospital), 5.125% Due 6/1/24.
500,000 City of Philadelphia, Pennsylvania, Water and Wastewater 2005 at 102 AAA Aaa
Revenue Bonds, Series 1995, 5.60% Due 8/1/18.
500,000 Punxsutawney Area School District (Jefferson and Indiana 2005 at 100 AAA Aaa
Counties, Pennsylvania), General Obligation Bonds, Series
of 1995, 5.90% Due 4/15/20.
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 100 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 90.01% of principal
amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.26 5.32% 5.35% 5.37%
500-999 50,000-99,999 4.75 100.11 5.33 5.36 5.38
1,000-2,499 100,000-249,999 4.50 99.84 5.34 5.38 5.40
2,500-4,999 250,000-499,999 4.25 99.58 5.36 5.39 5.41
5,000-9,999 500,000-999,999 3.50 98.81 5.40 5.43 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.30 5.43 5.46 5.48
25,000-49,999 2,500,000- 4,999,999 2.50 97.79 5.46 5.49 5.51
50,000 and over 5,000,000 and over 2.00 97.30 5.48 5.52 5.54
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.26 5.40% 5.43% 5.45%
500-999 50,000-99,999 4.75 100.11 5.41 5.44 5.46
1,000-2,499 100,000-249,999 4.50 99.84 5.42 5.45 5.47
2,500-4,999 250,000-499,999 4.25 99.58 5.44 5.46 5.48
5,000-9,999 500,000-999,999 3.50 98.81 5.48 5.51 5.53
10,000-24,999 1,000,000- 2,499,999 3.00 98.30 5.51 5.54 5.56
25,000-49,999 2,500,000- 4,999,999 2.50 97.79 5.54 5.57 5.59
50,000 and over 5,000,000 and over 2.00 97.30 5.57 5.60 5.62
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Pennsylvania Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5928(1) $ 5.3358
-------- $.4446 every month --------
Quarterly Distribution Plan........... $ .5928(1) $ 1.3419(2) $ 1.3419 $ 1.3419 $ 5.3678
Semi-Annual Distribution Plan......... $ .5928(1) $ 1.3464(3) $ 2.6928 $ 5.3868
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) Regular 3-month distribution.
(3) The second distribution under the semi-annual distribution plan represents a 3-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 $.07 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 $.01482 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.5928 per unit for the 40-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 08/01/95 is $.5928 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01482 Quarterly - $0.01491
Semi-Annual - $0.01496
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.
- --------------------------------------------------------------------------------
808
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.2 years.
The first bond is scheduled to mature in June, 2014, with the last bond maturity
being June, 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.
