<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 299
Estimated Current Return
First
Year: 5.33% to 5.54%
Subsequent
Years: 5.34% to 5.55%
as of 07/11/95
Estimated Long Term Return
5.43% to 5.66%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A4 165 Monthly Payment Option
6710A4 173 Quarterly Payment Option
6710A4 181 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 299
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 12, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$1,000,000 California Statewide Communities Development Authority, 2005 at 102 AAA Aaa
Certificates of Participation (Sutter Health Obligated
Group), 6.00% Due 8/15/25. (When issued.)
1,000,000 The City of Los Angeles, California, Wastewater System 2004 at 102 AAA Aaa
Revenue Bonds, Series 1994-A, 5.875% Due 6/1/24.
270,000 City of Chicago (Illinois), Chicago-O'Hare International 2004 at 102 AAA Aaa
Airport, General Airport Second Lien, Revenue Refunding
Bonds, 1993 Series C, 5.00% Due 1/1/18.
500,000 Metropolitan Pier and Exposition Authority (Illinois), No Optional AAA Aaa
McCormick Place Expansion Project Bonds, Series 1994B, Call
0.00% Due 6/15/19. (Original issue discount bonds
delivered on or about June 23, 1995 at a price of 19.514%
of principal amount.)
855,000 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.)
975,000 Massachusetts Bay Transportation Authority, General 2004 at 102 AAA Aaa
Transportation System Bonds, 1994 Series B Bonds, 5.875%
Due 3/1/19. (General Obligation Bonds.)
465,000 Michigan Strategic Fund Limited Obligation Refunding Revenue 2003 at 102 AAA Aaa
Bonds (The Detroit Edison Company Pollution Control Bonds
Project), Collateralized Series 1993 BB, 6.05% Due
10/1/23.
1,000,000 City of Royal Oak Hospital Finance Authority (Michigan), 2003 at 102 AAA Aaa
Hospital Revenue Refunding Bonds (William Beaumont
Hospital), Series 1993G, 5.50% Due 11/15/13.
1,000,000 New York Local Government Assistance Corporation (New York), 2005 at 102 AAA Aaa
Series 1995A Bonds, 6.00% Due 4/1/24.
500,000 Lehigh County (Pennsylvania) General Purpose Authority, 2005 at 102 AAA Aaa
Hospital Revenue Bonds (Lehigh Valley Hospital, Inc.),
Series A of 1995, 5.875% Due 7/1/15. (When issued.)
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.)
350,000 Washington Public Power Supply System, Nuclear Project No. 1 2003 at 102 AAA Aaa
Refunding Revenue Bonds, Series 1993B, 5.60% Due 7/1/15.
1,085,000 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.65 (5.33%) 5.34% (5.36%) 5.37% (5.38%) 5.39%
500-999 50,000-99,999 4.75 99.50 (5.34) 5.34 (5.37) 5.38 (5.39) 5.40
1,000-2,499 100,000-249,999 4.50 99.24 (5.35) 5.36 (5.38) 5.39 (5.40) 5.41
2,500-4,999 250,000-499,999 4.25 98.98 (5.36) 5.37 (5.40) 5.40 (5.42) 5.42
5,000-9,999 500,000-999,999 3.50 98.21 (5.41) 5.41 (5.44) 5.45 (5.46) 5.47
10,000-24,999 1,000,000- 2,499,999 3.00 97.70 (5.43) 5.44 (5.47) 5.48 (5.49) 5.49
25,000-49,999 2,500,000- 4,999,999 2.50 97.20 (5.46) 5.47 (5.50) 5.50 (5.51) 5.52
50,000 and over 5,000,000 and over 2.00 96.70 (5.49) 5.50 (5.52) 5.53 (5.54) 5.55
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.65 5.43% 5.47% 5.49%
500-999 50,000-99,999 4.75 99.50 5.44 5.47 5.49
1,000-2,499 100,000-249,999 4.50 99.24 5.45 5.49 5.51
2,500-4,999 250,000-499,999 4.25 98.98 5.46 5.50 5.52
5,000-9,999 500,000-999,999 3.50 98.21 5.51 5.55 5.57
10,000-24,999 1,000,000- 2,499,999 3.00 97.70 5.54 5.58 5.60
25,000-49,999 2,500,000- 4,999,999 2.50 97.20 5.57 5.61 5.63
50,000 and over 5,000,000 and over 2.00 96.70 5.60 5.64 5.66
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to 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
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............. $ .2804(1) $ 5.3171
-------- $.4428 every month --------
Quarterly Distribution Plan........... $ .2804(1) $ 1.3365(2) $ 1.3365 $ 1.3365 $ 5.3491
Semi-Annual Distribution Plan......... $ .2804(1) $ 1.3419(3) $ 2.6838 $ 5.3681
- --------------------------------------------------------------------------------------------------------------------
<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 $.01476 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.2804 per unit for the 19-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 08/01/95 is $.2804 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01476 Quarterly - $0.01485
Semi-Annual - $0.01491
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 13 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>
- ------------------------
%
California 21.5
Illinois 11.4
Massachusetts 10.4
Michigan 15.1
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New York 10.9
Pennsylvania 5.3
Washington 25.4
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 25.8 years. The first bond is scheduled to mature in
November, 2013, 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.
811
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
MASSACHUSETTS
INSURED
TRUST 127
Estimated Current Return
5.20% to 5.41%
as of 07/11/95
Estimated Long Term Return
5.27% to 5.48%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 407 Monthly Payment Option
670947 415 Quarterly Payment Option
670947 423 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 127
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 12, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 The Commonwealth of Massachusetts, General Obligation Bonds, 2005 at 101 AAA Aaa
Consolidated Loan of 1995, Series B, 5.50% Due 7/1/15.
220,000 The Commonwealth of Massachusetts, Special Obligation 2004 at 101 AAA Aaa
Revenue Bonds, 1994 Series A, 5.75% Due 6/1/12.
525,000 Massachusetts Bay Transportation Authority, General 2004 at 102 AAA Aaa
Transportation System Bonds, 1994 Series B Bonds, 5.875%
Due 3/1/19. (General Obligation Bonds.)
190,000 Massachusetts Health and Educational Facilities Authority, 2003 at 100 AAA Aaa
Revenue Bonds, Baystate Medical Center Issue, Series D,
5.00% Due 7/1/12. (Original issue discount bonds delivered
on or about September 16, 1993 at a price of 94.966% 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.)
500,000 Massachusetts Industrial Finance Agency Revenue Bonds, 2008 at 102 AAA Aaa
Phillips Academy Issue, Series 1993, 5.375% Due 9/1/23.
305,000 Massachusetts Water Resources Authority, General Revenue No Optional AAA Aaa
Bonds, 1992 Series A, 6.50% Due 7/15/19. Call
250,000 Town of Leicester, Massachusetts, General Obligation School 2004 at 102 AAA Aaa
Bonds, 5.10% Due 1/15/13.
510,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% 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 % $ 102.19 5.20% 5.23% 5.25%
500-999 50,000-99,999 4.75 102.03 5.21 5.24 5.26
1,000-2,499 100,000-249,999 4.50 101.76 5.22 5.25 5.27
2,500-4,999 250,000-499,999 4.25 101.49 5.24 5.27 5.29
5,000-9,999 500,000-999,999 3.50 100.70 5.28 5.31 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 100.19 5.30 5.34 5.36
25,000-49,999 2,500,000- 4,999,999 2.50 99.67 5.33 5.36 5.38
50,000 and over 5,000,000 and over 2.00 99.16 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 % $ 102.19 5.27% 5.30% 5.32%
500-999 50,000-99,999 4.75 102.03 5.27 5.30 5.32
1,000-2,499 100,000-249,999 4.50 101.76 5.29 5.32 5.34
2,500-4,999 250,000-499,999 4.25 101.49 5.30 5.33 5.35
5,000-9,999 500,000-999,999 3.50 100.70 5.35 5.38 5.39
10,000-24,999 1,000,000- 2,499,999 3.00 100.19 5.37 5.40 5.42
25,000-49,999 2,500,000- 4,999,999 2.50 99.67 5.40 5.43 5.45
50,000 and over 5,000,000 and over 2.00 99.16 5.43 5.46 5.48
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Massachusetts Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2804(1) $ 5.3151
-------- $.4428 every month --------
Quarterly Distribution Plan........... $ .2804(1) $ 1.3365(2) $ 1.3365 $ 1.3365 $ 5.3471
Semi-Annual Distribution Plan......... $ .2804(1) $ 1.3410(3) $ 2.6820 $ 5.3661
- --------------------------------------------------------------------------------------------------------------------
<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 $.01476 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.2804 per unit for the 19-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 08/01/95 is $.2804 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01476 Quarterly - $0.01485
Semi-Annual - $0.01490
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
811
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.1 years.
The first bond is scheduled to mature in June, 2012, with the last bond maturity
being September, 2023.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 194
Estimated Current Return
5.19% to 5.40%
as of 07/11/95
Estimated Long Term Return
5.25% to 5.46%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706L6 851 Monthly Payment Option
6706L6 869 Quarterly Payment Option
6706L6 877 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 194
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 12, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 New Jersey Economic Development Authority, Water Facilities 2004 at 102 AAA Aaa
Revenue Refunding Bonds (Hackensack Water Company
Project-1994 Series A), 5.80% Due 3/1/24.
500,000 New Jersey Economic Development Authority, Market Transition 2004 at 102 AAA Aaa
Facility Senior Lien Revenue Bonds, Series 1994A, 5.875%
Due 7/1/11.
500,000 New Jersey Health Care Facilities Financing Authority, 2004 at 100 AAA Aaa
Revenue Bonds, Jersey Shore Medical Center Obligated Group
Issue, Series 1994, 5.875% Due 7/1/24. (Original issue
discount bonds delivered on or about August 2, 1994 at a
price of 93.036% of principal amount.)
405,000 The Port Authority of New York and New Jersey, Consolidated 2005 at 101 AAA Aaa
Bonds, One Hundredth Series, 5.75% Due 6/15/30.
195,000 The Camden County Municipal Utilities Authority (New No Optional AAA Aaa
Jersey), County Agreement Sewer Revenue Capital Call
Appreciation Bonds, 1990A Series, 0.00% Due 9/1/17.
(Original issue discount bonds delivered on or about
February 21, 1990 at a price of 13.71% of principal
amount.)(General Obligation Bonds.)
55,000 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.)
515,000 The Board of Education of the Great Meadows Regional School 2005 at 102 AAA Aaa
District in the County of Warren, New Jersey, School
Bonds,
200M-5.90% Due 1/15/20,
315M-5.90% Due 1/15/22.
(General Obligation Bonds.) (When issued.)
465,000 The Pollution Control Financing Authority of Salem County 2004 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1994 Series B (Public Service Electric and Gas Company
Project), 6.25% Due 6/1/31.
365,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 1/2
240M-5.50% Due 7/1/13,
125M-5.25% Due 7/1/18. (Original issue discount bonds
delivered on or about July 15, 1993 at a price of 93.414%
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 % $ 100.60 5.19% 5.22% 5.24%
500-999 50,000-99,999 4.75 100.44 5.20 5.23 5.25
1,000-2,499 100,000-249,999 4.50 100.18 5.21 5.24 5.26
2,500-4,999 250,000-499,999 4.25 99.92 5.23 5.26 5.28
5,000-9,999 500,000-999,999 3.50 99.14 5.27 5.30 5.32
10,000-24,999 1,000,000- 2,499,999 3.00 98.63 5.29 5.33 5.35
25,000-49,999 2,500,000- 4,999,999 2.50 98.12 5.32 5.35 5.37
50,000 and over 5,000,000 and over 2.00 97.62 5.35 5.38 5.40
</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 % $ 100.60 5.25% 5.28% 5.30%
500-999 50,000-99,999 4.75 100.44 5.26 5.28 5.30
1,000-2,499 100,000-249,999 4.50 100.18 5.27 5.30 5.32
2,500-4,999 250,000-499,999 4.25 99.92 5.28 5.31 5.33
5,000-9,999 500,000-999,999 3.50 99.14 5.33 5.36 5.38
10,000-24,999 1,000,000- 2,499,999 3.00 98.63 5.35 5.38 5.40
25,000-49,999 2,500,000- 4,999,999 2.50 98.12 5.38 5.41 5.43
50,000 and over 5,000,000 and over 2.00 97.62 5.41 5.44 5.46
</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............. $ .2755(1) $ 5.2217
-------- $.4350 every month --------
Quarterly Distribution Plan........... $ .2755(1) $ 1.3131(2) $ 1.3131 $ 1.3131 $ 5.2537
Semi-Annual Distribution Plan......... $ .2755(1) $ 1.3176(3) $ 2.6352 $ 5.2727
- --------------------------------------------------------------------------------------------------------------------
<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 $.01450 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.2755 per unit for the 19-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 08/01/95 is $.2755 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.
- --------------------------------------------------------------------------------
811
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.7 years.
The first bond is scheduled to mature in July, 2011, with the last bond maturity
being June, 2031.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
OHIO
INSURED
TRUST 126
Estimated Current Return
5.19% to 5.40%
as of 07/11/95
Estimated Long Term Return
5.21% to 5.42%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101Y 730 Monthly Payment Option
67101Y 748 Quarterly Payment Option
67101Y 755 Semi-Annual Payment Option
Registered in Ohio
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, OHIO INSURED TRUST 126
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 12, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 State of Ohio (Ohio Higher Educational Facility Commission), 2003 at 102 AAA Aaa
Higher Educational Facility Revenue Bonds (Oberlin College
Project), Series 1993, 5.375% Due 10/1/15.
500,000 State of Ohio, Turnpike Revenue Bonds, 1994 Series A, Issued 2004 at 102 AAA Aaa
by the Ohio Turnpike Commission, 5.75% Due 2/15/24.
500,000 City of Dover, Ohio, Municipal Electric System Revenue 2005 at 101 AAA Aaa
Bonds, Series 1995, 5.95% Due 12/1/14.
500,000 Fairfield City School District, County of Butler, Ohio, 2005 at 100 AAA Aaa
School Improvement Bonds, Series 1995, 6.00% Due 12/1/20.
(General Obligation Bonds.)
500,000 County of Lucas, Ohio, Hospital Refunding Revenue Bonds, 2003 at 102 AAA Aaa
Series 1993B (St. Vincent Medical Center), 5.375% Due
8/15/17.
500,000 Solon City School District, Ohio, School Improvement 2004 at 102 AAA Aaa
Refunding Bonds, Series 1993, 5.30% Due 12/1/13. (General
Obligation Bonds.)
500,000 Commonwealth of Puerto Rico, Public Improvement Refunding 2003 at 101 AAA Aaa
Bonds, Series 1993 (General Obligation Bonds.), 5.25% Due 1/2
7/1/18. (Original issue discount bonds delivered on or
about July 15, 1993 at a price of 93.414% 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 % $ 103.21 5.19% 5.22% 5.24%
500-999 50,000-99,999 4.75 103.04 5.20 5.23 5.25
1,000-2,499 100,000-249,999 4.50 102.77 5.22 5.25 5.27
2,500-4,999 250,000-499,999 4.25 102.51 5.23 5.26 5.28
5,000-9,999 500,000-999,999 3.50 101.71 5.27 5.30 5.32
10,000-24,999 1,000,000- 2,499,999 3.00 101.19 5.30 5.33 5.35
25,000-49,999 2,500,000- 4,999,999 2.50 100.67 5.32 5.36 5.37
50,000 and over 5,000,000 and over 2.00 100.15 5.35 5.38 5.40
</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 % $ 103.21 5.21% 5.24% 5.26%
500-999 50,000-99,999 4.75 103.04 5.22 5.25 5.27
1,000-2,499 100,000-249,999 4.50 102.77 5.23 5.26 5.28
2,500-4,999 250,000-499,999 4.25 102.51 5.24 5.27 5.29
5,000-9,999 500,000-999,999 3.50 101.71 5.29 5.32 5.34
10,000-24,999 1,000,000- 2,499,999 3.00 101.19 5.32 5.35 5.36
25,000-49,999 2,500,000- 4,999,999 2.50 100.67 5.34 5.37 5.39
50,000 and over 5,000,000 and over 2.00 100.15 5.37 5.40 5.42
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Ohio Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 8/1 11/1 2/1 5/1
Distribution Date..................... 8/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .2827(1) $ 5.3598
-------- $.4464 every month --------
Quarterly Distribution Plan........... $ .2827(1) $ 1.3473(2) $ 1.3473 $ 1.3473 $ 5.3918
Semi-Annual Distribution Plan......... $ .2827(1) $ 1.3527(3) $ 2.7054 $ 5.4108
- --------------------------------------------------------------------------------------------------------------------
<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 $.01488 per unit per day.
Consequently, on the first Record Date (08/01/95), accrued interest will total
$0.2827 per unit for the 19-day period. All interest accrued from the Date of
Deposit to the first Record Date, less expenses, will be distributed on the
first Distribution Date to Unitholders of Record as of the first Record Date.
The first payment to all Unitholders of Record on 08/01/95 is $.2827 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01488 Quarterly - $0.01497
Semi-Annual - $0.01503
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.
- --------------------------------------------------------------------------------
811
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.4 years.
The first bond is scheduled to mature in December, 2013, with the last bond
maturity being February, 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.
