<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CONNECTICUT
TRUST 275
(CONNECTICUT TRADITIONAL TRUST 275)
Estimated Current Return
First
Year: 5.18% to 5.39%
Subsequent
Years: 5.20% to 5.41%
as of 07/25/95
Estimated Long Term Return
5.33% to 5.54%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
67094E 733 Monthly Payment Option
67094E 741 Quarterly Payment Option
67094E 758 Semi-Annual Payment Option
Registered in Connecticut
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--CONNECTICUT TRADITIONAL TRUST 275
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 26, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 300,000 State of Connecticut, General Obligation Bonds (1993 Series 2004 at 101 AA- Aa
E), 4.75% Due 3/15/11. 1/2
305,000 Connecticut Development Authority, Water Facilities 2004 at 102 AAA Aaa
Refunding Revenue Bonds (Bridgeport Hydraulic Company
Project-1994A Series), 6.05% Due 3/1/29. (MBIA Insured.)
460,000 State of Connecticut Health and Educational Facilities 2005 at 101 AAA Aaa
Authority, Revenue Bonds, Kent School Issue, Series B,
5.40% Due 7/1/23. (When issued.) (MBIA Insured.)
500,000 State of Connecticut Health and Educational Facilities 2004 at 102 AAA Aaa
Authority, Revenue Bonds, New Britain General Hospital
Issue, Series B, 6.00% Due 7/1/24. (AMBAC Insured.)
500,000 State of Connecticut Health and Educational Facilities 2004 at 102 AA- A1
Authority, Revenue Bonds, Nursing Home Program Issue,
Series 1994 (Saint Joseph's Living Center Project), 4.75%
Due 11/1/14. (General Obligation Bonds.)
330,000 Town of Cheshire, Connecticut, General Obligation Bonds, 2003 at 102 -- Aa
Issue of 1993, 5.25% Due 8/15/13.
150,000 South Central Connecticut Regional Water Authority, Water 2003 at 102 AAA Aaa
System Revenue Bonds, Eleventh Series, 5.75% Due 8/1/12.
(FGIC Insured.)
455,000 City of Stamford, Connecticut, General Obligation Bonds, 2004 at 102 AAA Aaa
Issue of 1995, 5.50% Due 3/15/15.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds.), 5.75% Due 7/1/24. (MBIA 1/2
Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
AMOUNT PURCHASED Public -----------------------------------------------------------
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- --------------- --------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.29 (5.18%) 5.20% (5.22%) 5.23% (5.23%) 5.25%
500-999 50,000-99,999 4.75 100.14 (5.19) 5.21 (5.22) 5.24 (5.24) 5.26
1,000-2,499 100,000-249,999 4.50 99.87 (5.20) 5.22 (5.24) 5.25 (5.26) 5.27
2,500-4,999 250,000-499,999 4.25 99.61 (5.22) 5.23 (5.25) 5.27 (5.27) 5.28
5,000-9,999 500,000-999,999 3.50 98.84 (5.26) 5.27 (5.29) 5.31 (5.31) 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 98.33 (5.29) 5.30 (5.32) 5.33 (5.34) 5.35
25,000-49,999 2,500,000- 4,999,999 2.50 97.83 (5.31) 5.33 (5.35) 5.36 (5.37) 5.38
50,000 and over 5,000,000 and over 2.00 97.33 (5.34) 5.36 (5.37) 5.39 (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 % $ 100.29 5.33% 5.35% 5.37%
500-999 50,000-99,999 4.75 100.14 5.33 5.36 5.38
1,000-2,499 100,000-249,999 4.50 99.87 5.35 5.38 5.40
2,500-4,999 250,000-499,999 4.25 99.61 5.36 5.39 5.41
5,000-9,999 500,000-999,999 3.50 98.84 5.40 5.43 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.33 5.43 5.46 5.48
25,000-49,999 2,500,000- 4,999,999 2.50 97.83 5.46 5.49 5.51
50,000 and over 5,000,000 and over 2.00 97.33 5.49 5.52 5.54
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
Connecticut Traditional Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5068(1) $ 5.2131
-------- $.4344 every month --------
Quarterly Distribution Plan........... $ .5068(1) $ .8736(2) $ 1.3104 $ 1.3104 $ 5.2451
Semi-Annual Distribution Plan......... $ .5068(1) $ .8772(3) $ 2.6316 $ 5.2641
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01448 per unit per day.
Consequently, on the first Record Date (09/01/95), accrued interest will total
$0.5068 per unit for the 35-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 09/01/95 is $.5068 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01448 Quarterly - $0.01457
Semi-Annual - $0.01462
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.
- --------------------------------------------------------------------------------
814
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.9 years.
The first bond is scheduled to mature in March, 2011, with the last bond
maturity being March, 2029.
- -------------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S CORPORATION
OR MOODY'S INVESTORS SERVICES
- -------------------------------------------------------
<TABLE>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 68%
AA 32
---
100%
</TABLE>
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 300
Estimated Current Return
5.55% to 5.77%
as of 07/25/95
Estimated Long Term Return
5.64% to 5.86%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A4 199 Monthly Payment Option
6710A4 207 Quarterly Payment Option
6710A4 215 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 300
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 26, 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 California Statewide Communities Development Authority, 2005 at 102 AAA Aaa
Certificates of Participation (Sutter Health Obligated
Group), 5.50% Due 8/15/22. (Original issue discount bonds
delivered on or about July 18, 1995 at a price of 92.464%
of principal amount.)
500,000 California Health Facilities Financing Authority, Insured 2004 at 102 AAA Aaa
Health Facility Refunding Revenue Bonds (Catholic
Healthcare West), 1994 Series A, 4.75% Due 7/1/19.
(Original issue discount bonds delivered on or about
January 27, 1994 at a price of 90.893% of principal
amount.)
900,000 County of Madera, California, Certificates of Participation 2005 at 102 AAA Aaa
(Valley Children's Hospital Project), Series 1995, 6.125%
Due 3/15/23. (When issued.)
500,000 County of San Diego (California), Certificates of 2004 at 102 AAA Aaa
Participation (1994 Inmate Reception Center and Cooling
Plant Financing), 6.25% Due 8/1/24. (Original issue
discount bonds delivered on or about November 30, 1994 at
a price of 89.526% of principal amount.)
40,000 State of Connecticut Health and Educational Facilities 2005 at 101 AAA Aaa
Authority, Revenue Bonds, Kent School Issue, Series B,
5.40% Due 7/1/23. (When issued.)
700,000 City of Chicago, Illinois, Gas Supply Refunding Revenue 2005 at 102 AAA Aaa
Bonds, 1995 Series A (The Peoples Gas Light and Coke
Company Project), 6.10% Due 6/1/25.
1,000,000 Illinois Health Facilities Authority, Revenue Bonds, Series 2004 at 102 AAA Aaa
1994A (The University of Chicago Hospitals Project),
6.125% Due 8/15/24.
450,000 Illinois Development Finance Authority, Pollution Control 2004 at 102 AAA Aaa
Refunding Revenue Bonds, 1994 Series A (Illinois Power
Company Project), 5.70% Due 2/1/24.
1,000,000 City of Bloomington, Indiana, Monroe County, Sewage Works 2005 at 102 AAA Aaa
Revenue Bonds of 1995, 5.875% Due 1/1/20.
580,000 Dormitory Authority of the State of New York, State 2004 at 102 AAA Aaa
University Educational Facilities Revenue Bonds, Series
1993C, 5.40% Due 5/15/23.
470,000 Metropolitan Transportation Authority (New York), Transit 2004 at 101 AAA Aaa
Facilities Revenue Bonds, Series O, 6.00% Due 7/1/24. 1/2
(Original issue discount bonds delivered on or about July
12, 1994 at a price of 94.875% of principal amount.)
500,000 New York City (New York), Municipal Water Finance Authority, 2004 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fixed Rate Fiscal 1/2
1994 Series F, 5.50% Due 6/15/23.
1,000,000 Lehigh County Industrial Development Authority, Pollution 2004 at 102 AAA Aaa
Control Revenue Refunding Bonds, 1994 Series A
(Pennsylvania Power & Light Company Project), 5.50% Due
2/15/27.
860,000 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, Nuclear Project No. 3 2003 at 102 AAA Aaa
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 % $ 99.83 5.55% 5.58% 5.60%
500-999 50,000-99,999 4.75 99.67 5.56 5.59 5.61
1,000-2,499 100,000-249,999 4.50 99.41 5.58 5.61 5.63
2,500-4,999 250,000-499,999 4.25 99.15 5.59 5.62 5.64
5,000-9,999 500,000-999,999 3.50 98.38 5.63 5.67 5.69
10,000-24,999 1,000,000- 2,499,999 3.00 97.88 5.66 5.70 5.72
25,000-49,999 2,500,000- 4,999,999 2.50 97.37 5.69 5.73 5.75
50,000 and over 5,000,000 and over 2.00 96.88 5.72 5.75 5.77
</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 % $ 99.83 5.64% 5.67% 5.69%
500-999 50,000-99,999 4.75 99.67 5.65 5.67 5.69
1,000-2,499 100,000-249,999 4.50 99.41 5.66 5.69 5.71
2,500-4,999 250,000-499,999 4.25 99.15 5.68 5.70 5.72
5,000-9,999 500,000-999,999 3.50 98.38 5.72 5.75 5.77
10,000-24,999 1,000,000- 2,499,999 3.00 97.88 5.75 5.78 5.80
25,000-49,999 2,500,000- 4,999,999 2.50 97.37 5.78 5.81 5.83
50,000 and over 5,000,000 and over 2.00 96.88 5.81 5.84 5.86
</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*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5386(1) $ 5.5430
-------- $.4617 every month --------
Quarterly Distribution Plan........... $ .5386(1) $ .9288(2) $ 1.3932 $ 1.3932 $ 5.5750
Semi-Annual Distribution Plan......... $ .5386(1) $ .9318(3) $ 2.7954 $ 5.5940
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01539 per unit per day.
Consequently, on the first Record Date (09/01/95), accrued interest will total
$0.5386 per unit for the 35-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 09/01/95 is $.5386 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01539 Quarterly - $0.01548
Semi-Annual - $0.01553
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 15 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 23.8
Connecticut 0.4
Illinois 22.4
Indiana 10.2
<CAPTION>
Percent
of Total
Income
- ------------------------
<S> <C> <C>
%
New York 15.1
Pennsylvania 9.5
Washington 18.6
</TABLE>
- -------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 28.2 years. The first bond is scheduled to mature in July,
2015, 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.
814
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 251
Estimated Current Return
5.48% to 5.70%
as of 07/25/95
Estimated Long Term Return
5.60% to 5.82%
40,000 units in a
diversified $4,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064W 226 Monthly Payment Option
67064W 234 Quarterly Payment Option
67064W 242 Semi-Annual Payment Option
Registered in California
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, CALIFORNIA INSURED TRUST 251
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 26, 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 California, Various Purpose General Obligation 2004 at 102 AAA Aaa
Bonds, 6.00% Due 8/1/24.
500,000 California Statewide Communities Development Authority, 2005 at 102 AAA Aaa
Certificates of Participation (Sutter Health Obligated
Group), 5.50% Due 8/15/22. (Original issue discount bonds
delivered on or about July 18, 1995 at a price of 92.464%
of principal amount.)
500,000 California Health Facilities Financing Authority, Insured 2004 at 102 AAA Aaa
Health Facility Refunding Revenue Bonds (Catholic
Healthcare West), 1994 Series A, 4.75% Due 7/1/19.
(Original issue discount bonds delivered on or about
January 27, 1994 at a price of 90.893% of principal
amount.)
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), 5.50%
Due 12/1/12.
500,000 Castaic Lake Water Agency (California), Refunding Revenue 2004 at 102 AAA Aaa
Certificates of Participation (Water System Improvement
Projects), Series 1994A, 6.00% Due 8/1/18.
500,000 Los Angeles Convention and Exhibition Center Authority 2003 at 102 AAA Aaa
(California), Lease Revenue Bonds, 1993 Refunding Series
A, 5.125% Due 8/15/21. (Original issue discount bonds
delivered on or about September 14, 1993 at a price of
94.949% of principal amount.)
500,000 County of Madera, California, Certificates of Participation 2005 at 102 AAA Aaa
(Valley Children's Hospital Project), Series 1995, 6.125%
Due 3/15/23. (When issued.)
500,000 County of San Diego (California), Certificates of 2004 at 102 AAA Aaa
Participation (1994 Inmate Reception Center and Cooling
Plant Financing), 6.25% Due 8/1/24. (Original issue
discount bonds delivered on or about November 30, 1994 at
a price of 89.526% of principal amount.)
----------
$4,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.63 5.48% 5.51% 5.53%
500-999 50,000-99,999 4.75 98.48 5.49 5.52 5.54
1,000-2,499 100,000-249,999 4.50 98.22 5.50 5.54 5.56
2,500-4,999 250,000-499,999 4.25 97.96 5.52 5.55 5.57
5,000-9,999 500,000-999,999 3.50 97.20 5.56 5.59 5.61
10,000-24,999 1,000,000- 2,499,999 3.00 96.70 5.59 5.62 5.64
25,000-49,999 2,500,000- 4,999,999 2.50 96.21 5.62 5.65 5.67
50,000 and over 5,000,000 and over 2.00 95.71 5.65 5.68 5.70
</TABLE>
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 98.63 5.60% 5.63% 5.65%
500-999 50,000-99,999 4.75 98.48 5.61 5.64 5.66
1,000-2,499 100,000-249,999 4.50 98.22 5.63 5.65 5.67
2,500-4,999 250,000-499,999 4.25 97.96 5.64 5.67 5.69
5,000-9,999 500,000-999,999 3.50 97.20 5.68 5.71 5.73
10,000-24,999 1,000,000- 2,499,999 3.00 96.70 5.71 5.74 5.76
25,000-49,999 2,500,000- 4,999,999 2.50 96.21 5.74 5.77 5.79
50,000 and over 5,000,000 and over 2.00 95.71 5.77 5.80 5.82
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
California Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5253(1) $ 5.4054
-------- $.4503 every month --------
Quarterly Distribution Plan........... $ .5253(1) $ .9060(2) $ 1.3590 $ 1.3590 $ 5.4374
Semi-Annual Distribution Plan......... $ .5253(1) $ .9090(3) $ 2.7270 $ 5.4564
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01501 per unit per day.
Consequently, on the first Record Date (09/01/95), accrued interest will total
$0.5253 per unit for the 35-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 09/01/95 is $.5253 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01501 Quarterly - $0.01510
Semi-Annual - $0.01515
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.
- --------------------------------------------------------------------------------
814
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.4 years.
The first bond is scheduled to mature in December, 2012, with the last bond
maturity being August, 2024.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
- -------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
- -------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- -------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
- -------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 214
Estimated Current Return
5.41% to 5.63%
as of 07/25/95
Estimated Long Term Return
5.49% to 5.71%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H4 224 Monthly Payment Option
6706H4 232 Quarterly Payment Option
6706H4 240 Semi-Annual Payment Option
Registered in 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, FLORIDA INSURED TRUST 214
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT JULY 26, 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 Board of Education of Florida, Public Education 2004 at 101 AAA Aaa
Capital Outlay Bonds, 1993 Series E, 5.80% Due 6/1/24.
(General Obligation Bonds.)
500,000 Florida Municipal Power Agency, All-Requirements Power 2003 at 101 AAA Aaa
Supply Project Revenue Bonds, Series 1993, 5.10% Due
10/1/25.
500,000 State of Florida, Full Faith and Credit, Department of 2005 at 101 AAA Aaa
Transportation, Right-of-Way Acquisition and Bridge
Construction Bonds, Series 1995, 5.875% Due 7/1/24.
(General Obligation Bonds.)
500,000 Lee County, Florida, Transportation Facilities Revenue 2005 at 102 AAA Aaa
Bonds, Series 1995, 5.75% Due 10/1/27. (Original issue
discount bonds delivered on or about May 16, 1995 at a
price of 93.739% of principal amount.)
500,000 Orange County (Florida), Health Facilities Authority, 2005 at 102 AAA Aaa
Hospital Revenue Bonds, Series 1995 (Adventist Health
System/Sunbelt Obligated Group), 5.75% Due 11/15/25.
500,000 Orange County, Florida, Tourist Development Tax Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994B, 6.00% Due 10/1/24.
500,000 City of Tampa, Florida, Allegany Health System Revenue 2003 at 102 AAA Aaa
Bonds, St. Joseph's Hospital, Inc. Issue, Series 1993,
5.125% Due 12/1/23. (Original issue discount bonds
delivered on or about January 4, 1994 at a price of
94.522% of principal amount.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
- ------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
- ---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.41 5.41% 5.45% 5.46%
500-999 50,000-99,999 4.75 99.25 5.42 5.45 5.47
1,000-2,499 100,000-249,999 4.50 98.99 5.44 5.47 5.49
2,500-4,999 250,000-499,999 4.25 98.74 5.45 5.48 5.50
5,000-9,999 500,000-999,999 3.50 97.97 5.49 5.53 5.55
10,000-24,999 1,000,000- 2,499,999 3.00 97.46 5.52 5.55 5.57
25,000-49,999 2,500,000- 4,999,999 2.50 96.96 5.55 5.58 5.60
50,000 and over 5,000,000 and over 2.00 96.47 5.58 5.61 5.63
</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 % $ 99.41 5.49% 5.53% 5.54%
500-999 50,000-99,999 4.75 99.25 5.49 5.53 5.55
1,000-2,499 100,000-249,999 4.50 98.99 5.51 5.55 5.57
2,500-4,999 250,000-499,999 4.25 98.74 5.52 5.56 5.58
5,000-9,999 500,000-999,999 3.50 97.97 5.57 5.61 5.63
10,000-24,999 1,000,000- 2,499,999 3.00 97.46 5.60 5.64 5.66
25,000-49,999 2,500,000- 4,999,999 2.50 96.96 5.63 5.67 5.68
50,000 and over 5,000,000 and over 2.00 96.47 5.66 5.69 5.71
</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
Florida Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 9/1 11/1 2/1 5/1
Distribution Date..................... 9/15 11/15 2/15 5/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .5229(1) $ 5.3818
-------- $.4482 every month --------
Quarterly Distribution Plan........... $ .5229(1) $ .9018(2) $ 1.3527 $ 1.3527 $ 5.4138
Semi-Annual Distribution Plan......... $ .5229(1) $ .9054(3) $ 2.7162 $ 5.4328
- --------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 2-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 2-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 $.01494 per unit per day.
Consequently, on the first Record Date (09/01/95), accrued interest will total
$0.5229 per unit for the 35-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 09/01/95 is $.5229 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01494 Quarterly - $0.01503
Semi-Annual - $0.01509
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.
- --------------------------------------------------------------------------------
814
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 29.7 years.
The first bond is scheduled to mature in December, 2023, with the last bond
maturity being October, 2027.
- -------------------------------------------------------
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.
