<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NORTH CAROLINA
TRUST 291
(NORTH CAROLINA TRADITIONAL TRUST 291)
Estimated Current Return
5.41% to 5.63%
as of 08/17/95
Estimated Long Term Return
5.50% to 5.71%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6710A2 433 Monthly Payment Option
6710A2 441 Quarterly Payment Option
6710A2 458 Semi-Annual Payment Option
Registered in North Carolina
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--NORTH CAROLINA TRADITIONAL TRUST 291
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 18, 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 North Carolina Medical Care Commission, Hospital Revenue 2003 at 102 AA Aa
Refunding Bonds (Presbyterian Health Services Corp.
Project), Series 1993, 5.50% Due 10/1/20.
500,000 Appalachian State University, Utilities System Revenue 2004 at 102 AAA Aaa
Bonds, Series 1994 of the Board of Governors of the
University of North Carolina, 6.125% Due 5/15/19. (MBIA
Insured.)
115,000 Metropolitan Sewerage District of Buncombe County (North 2003 at 102 AAA Aaa
Carolina), Sewerage System Revenue Refunding Bonds, Series
1993A, 5.50% Due 7/1/22. (FGIC Insured.)
385,000 City of Charlotte, North Carolina, Certificates of 2004 at 102 AA --
Participation, Series 1995A (Charlotte/Mecklenburg Law
Enforcement Facilites Project), 6.10% Due 12/1/15.
500,000 Craven Regional Medical Authority (North Carolina), Insured 2003 at 102 AAA Aaa
Health Care Facilities Revenue Bonds, Series 1993, 5.50%
Due 10/1/23. (MBIA Insured.)
500,000 Certificates of Participation (1994 Hospital and Office 2004 at 102 AA Aa
Facilities Project) County of Durham, North Carolina,
6.00% Due 5/1/14.
500,000 City of Fayetteville, North Carolina, Public Works 2005 at 102 AAA Aaa
Commission Revenue Bonds, Series 1995A, 5.25% Due 3/1/16.
(Original issue discount bonds delivered on or about June
8, 1995 at a price of 94.558% of principal amount.)(AMBAC
Insured.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds.), 5.375% Due 7/1/22. 1/2
(Original issue discount bonds delivered on or about May
4, 1995 at a price of 93.916% of principal amount.)(MBIA
Insured.)
----------
$3,500,000
----------
----------
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.26 5.41% 5.45% 5.46%
500-999 50,000-99,999 4.75 100.11 5.42 5.45 5.47
1,000-2,499 100,000-249,999 4.50 99.84 5.44 5.47 5.49
2,500-4,999 250,000-499,999 4.25 99.58 5.45 5.48 5.50
5,000-9,999 500,000-999,999 3.50 98.81 5.49 5.53 5.54
10,000-24,999 1,000,000- 2,499,999 3.00 98.30 5.52 5.55 5.57
25,000-49,999 2,500,000- 4,999,999 2.50 97.79 5.55 5.58 5.60
50,000 and over 5,000,000 and over 2.00 97.30 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 % $ 100.26 5.50% 5.53% 5.54%
500-999 50,000-99,999 4.75 100.11 5.50 5.53 5.55
1,000-2,499 100,000-249,999 4.50 99.84 5.52 5.55 5.57
2,500-4,999 250,000-499,999 4.25 99.58 5.53 5.56 5.58
5,000-9,999 500,000-999,999 3.50 98.81 5.58 5.61 5.63
10,000-24,999 1,000,000- 2,499,999 3.00 98.30 5.61 5.64 5.66
25,000-49,999 2,500,000- 4,999,999 2.50 97.79 5.64 5.67 5.68
50,000 and over 5,000,000 and over 2.00 97.30 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
North Carolina Traditional Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
--------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6480(1) $ 5.4273
-------- $.4521 every month --------
Quarterly Distribution Plan........... $ .6480(1) $ .4548(2) $ 1.3644 $ 1.3644 $ 5.4593
Semi-Annual Distribution Plan......... $ .6480(1) $ .4563(3) $ 2.7378 $ 5.4783
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-month distribution; subsequent semi-annual
distributions will be regular 6-month distributions.
</TABLE>
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.08 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01507 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.6480 per unit for the 43-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 10/01/95 is $.6480 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01507 Quarterly - $0.01516
Semi-Annual - $0.01521
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
--------------------------------------------------------------------------------
819
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 23.6 years.
The first bond is scheduled to mature in May, 2014, with the last bond maturity
being October, 2023.
-------------------------------------------------------
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 60%
AA 40
---
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 302
Estimated Current Return
5.64% to 5.87%
as of 08/17/95
Estimated Long Term Return
5.71% to 5.93%
75,000 units in a
diversified $7,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A4 256 Monthly Payment Option
6710A4 264 Quarterly Payment Option
6710A4 272 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 302
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 18, 1995
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 750,000 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.
1,000,000 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.)
750,000 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.
750,000 Metropolitan Pier and Exposition Authority (Illinois), 2004 at 102 AAA Aaa
McCormick Place Expansion Project Refunding Bonds, Series
1994A, 6.00% Due 6/15/27. (Original issue discount bonds
delivered on or about June 23, 1994 at a price of 93.881%
of principal amount.)
750,000 Western Boone County School Building Corporation, First 2004 at 102 AAA Aaa
Mortgage Bonds, Series 1994 (Thorntown, Indiana), 6.25%
Due 1/15/16. (General Obligation Bonds.)
750,000 Indiana Health Facility Financing Authority, Hospital 2005 at 102 AAA Aaa
Revenue Bonds, Series 1995 (Marion General Hospital
Project), 6.10% Due 7/1/25.
750,000 Board of Trustees of Oakland University, Michigan, General 2005 at 102 AAA Aaa
Revenue Bonds, Series 1995, 5.75% Due 5/15/26.
500,000 New York State Housing Finance Agency, Service Contract 2005 at 102 AAA Aaa
Obligation Revenue Bonds, 1995 Series A, 6.375% Due
9/15/15.
750,000 New York City, New York, Municipal Water Finance Authority, 2005 at 101 AAA Aaa
Water and Sewer System Revenue Bonds, Fiscal 1996 Series
A, 6.00% Due 6/15/25.
750,000 Loudoun County Sanitation Authority (Virginia), Water and 2004 at 102 AAA Aaa
Sewer System Revenue Bonds, Series 1994A, 5.25% Due
1/1/30. (Original issue discount bonds delivered on or
about March 30, 1994 at a price of 89.671% of principal
amount.)
----------
$7,500,000
----------
----------
</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 % $ 100.48 5.64% 5.68% 5.69%
500-999 50,000-99,999 4.75 100.33 5.65 5.68 5.70
1,000-2,499 100,000-249,999 4.50 100.06 5.67 5.70 5.72
2,500-4,999 250,000-499,999 4.25 99.80 5.68 5.71 5.73
5,000-9,999 500,000-999,999 3.50 99.03 5.73 5.76 5.78
10,000-24,999 1,000,000- 2,499,999 3.00 98.52 5.76 5.79 5.81
25,000-49,999 2,500,000- 4,999,999 2.50 98.01 5.79 5.82 5.84
50,000 and over 5,000,000 and over 2.00 97.51 5.82 5.85 5.87
</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 % $ 100.48 5.71% 5.74% 5.75%
500-999 50,000-99,999 4.75 100.33 5.71 5.74 5.76
1,000-2,499 100,000-249,999 4.50 100.06 5.73 5.76 5.78
2,500-4,999 250,000-499,999 4.25 99.80 5.74 5.77 5.79
5,000-9,999 500,000-999,999 3.50 99.03 5.79 5.82 5.84
10,000-24,999 1,000,000- 2,499,999 3.00 98.52 5.82 5.85 5.87
25,000-49,999 2,500,000- 4,999,999 2.50 98.01 5.85 5.88 5.90
50,000 and over 5,000,000 and over 2.00 97.51 5.88 5.91 5.93
</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*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
--------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6772(1) $ 5.6704
-------- $.4725 every month --------
Quarterly Distribution Plan........... $ .6772(1) $ .4752(2) $ 1.4256 $ 1.4256 $ 5.7024
Semi-Annual Distribution Plan......... $ .6772(1) $ .4767(3) $ 2.8602 $ 5.7214
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01575 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.6772 per unit for the 43-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 10/01/95 is $.6772 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01575 Quarterly - $0.01584
Semi-Annual - $0.01589
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 10 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 6 states.
-------------------------------------------------------
<TABLE>
<CAPTION>
Percent
of Total
Income
<S> <C> <C>
------------------------
%
California 24.5
Illinois 18.6
Indiana 20.9
<CAPTION>
Percent
of Total
Income
------------------------
<S> <C> <C>
%
Michigan 9.7
New York 17.4
Virginia 8.9
</TABLE>
-------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity
of portfolio bonds is 27.9 years. The first bond is scheduled to mature in
September, 2015, with the last bond maturity being January, 2030.
-------------------------------------------------
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.
819
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
ARIZONA
INSURED
TRUST 41
Estimated Current Return
First
Year: 5.41% to 5.63%
Subsequent
Years: 5.43% to 5.65%
as of 08/17/95
Estimated Long Term Return
5.54% to 5.76%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101J 527 Monthly Payment Option
67101J 535 Quarterly Payment Option
67101J 543 Semi-Annual Payment Option
Registered in Arizona
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, ARIZONA INSURED TRUST 41
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 18, 1995
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 250,000 City of Casa Grande, Arizona, Excise Tax Revenue 2005 at 100 AAA Aaa
Obligations, Series 1995, 6.20% Due 4/1/15.
250,000 Humboldt Unified School District No. 22 of Yavapai County, 2005 at 101 AAA Aaa
Arizona, School Improvement Bonds, Project of 1995, Series
A (1995), 5.95% Due 7/1/14. (General Obligation Bonds.)
500,000 The Industrial Development Authority of the County of 2005 at 101 AAA Aaa
Maricopa, Arizona, Baptist Hospital System Revenue
Refunding Bonds, Series 1995, 5.50% Due 9/1/16. (Original
issue discount bonds will be delivered on or about August
31, 1995 at a price of 92.392% of principal amount.)(When
issued.)
500,000 Kyrene Elementary School District No. 28 of Maricopa County, 2004 at 100 AAA Aaa
Arizona, School Improvement Bonds, Project of 1993, Series
B (1995), 6.00% Due 7/1/14. (General Obligation Bonds.)
500,000 Navajo County, Arizona, Pollution Control Corporation, 2003 at 102 AAA Aaa
Pollution Control Revenue Refunding Bonds (Arizona Public
Service Company), 1993 Series A, 5.875% Due 8/15/28.
500,000 City of Phoenix (Arizona), Civic Improvement Corporation, 2004 at 102 AAA Aaa
Junior Lien Water System Revenue Bonds, Series 1994, 5.50%
Due 7/1/24.
500,000 University Medical Center Corporation (Tucson, Arizona), 2003 at 102 AAA Aaa
Hospital Revenue Refunding Bonds, Series 1993, 5.00% Due
7/1/21. (Original issue discount bonds delivered on or
about June 8, 1993 at a price of 90.122% of principal
amount.)
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds.), 5.375% Due 7/1/22. 1/2
(Original issue discount bonds delivered on or about May
4, 1995 at a price of 93.916% 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> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 99.01 (5.41%) 5.43% (5.44%) 5.46% (5.46%) 5.48%
500-999 50,000-99,999 4.75 98.86 (5.42) 5.44 (5.45) 5.47 (5.47) 5.49
1,000-2,499 100,000-249,999 4.50 98.60 (5.43) 5.45 (5.47) 5.48 (5.49) 5.50
2,500-4,999 250,000-499,999 4.25 98.34 (5.45) 5.46 (5.48) 5.50 (5.50) 5.52
5,000-9,999 500,000-999,999 3.50 97.58 (5.49) 5.51 (5.52) 5.54 (5.54) 5.56
10,000-24,999 1,000,000- 2,499,999 3.00 97.07 (5.52) 5.54 (5.55) 5.57 (5.57) 5.59
25,000-49,999 2,500,000- 4,999,999 2.50 96.57 (5.55) 5.56 (5.58) 5.60 (5.60) 5.62
50,000 and over 5,000,000 and over 2.00 96.08 (5.58) 5.59 (5.61) 5.63 (5.63) 5.65
</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 % $ 99.01 5.54% 5.57% 5.59%
500-999 50,000-99,999 4.75 98.86 5.54 5.58 5.60
1,000-2,499 100,000-249,999 4.50 98.60 5.56 5.60 5.62
2,500-4,999 250,000-499,999 4.25 98.34 5.57 5.61 5.63
5,000-9,999 500,000-999,999 3.50 97.58 5.62 5.66 5.67
10,000-24,999 1,000,000- 2,499,999 3.00 97.07 5.65 5.68 5.70
25,000-49,999 2,500,000- 4,999,999 2.50 96.57 5.68 5.71 5.73
50,000 and over 5,000,000 and over 2.00 96.08 5.70 5.74 5.76
</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
Arizona Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
--------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6415(1) $ 5.3738
-------- $.4476 every month --------
Quarterly Distribution Plan........... $ .6415(1) $ .4503(2) $ 1.3509 $ 1.3509 $ 5.4058
Semi-Annual Distribution Plan......... $ .6415(1) $ .4518(3) $ 2.7108 $ 5.4248
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01492 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.6415 per unit for the 43-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 10/01/95 is $.6415 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01492 Quarterly - $0.01501
Semi-Annual - $0.01506
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.
--------------------------------------------------------------------------------
819
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.8 years.
The first bond is scheduled to mature in July, 2014, with the last bond maturity
being August, 2028.
-------------------------------------------------------
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 215
Estimated Current Return
5.49% to 5.71%
as of 08/17/95
Estimated Long Term Return
5.59% to 5.81%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H4 257 Monthly Payment Option
6706H4 265 Quarterly Payment Option
6706H4 273 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 215
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 18, 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 Florida, State Board of Education, Public Education 2005 at 101 AAA Aaa
Capital Outlay Bonds, 1993 Series F, 6.10% Due 6/1/24.
(General Obligation Bonds.)
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 Palm Bay, Florida, Utility System Refunding Revenue 2003 at 102 AAA Aaa
Bonds, Series 1994 (Palm Bay Utility Corporation Project),
5.00% Due 10/1/19.
500,000 Tampa Sports Authority, Special Purpose Bonds, 1995 2005 at 102 AAA Aaa
Hillsborough County, Florida, Interlocal Agreement Revenue
Series (Tampa Bay Arena Project), 6.125% Due 10/1/26.
500,000 City of Vero Beach, Florida, Electric Refunding Revenue 2003 at 101 AAA Aaa
Bonds, Series 1993A, 5.375% Due 12/1/21.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds.), 5.375% Due 7/1/22. 1/2
(Original issue discount bonds delivered on or about May
4, 1995 at a price of 93.916% 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 % $ 98.86 5.49% 5.52% 5.54%
500-999 50,000-99,999 4.75 98.71 5.50 5.53 5.55
1,000-2,499 100,000-249,999 4.50 98.45 5.51 5.54 5.56
2,500-4,999 250,000-499,999 4.25 98.19 5.52 5.56 5.58
5,000-9,999 500,000-999,999 3.50 97.43 5.57 5.60 5.62
10,000-24,999 1,000,000- 2,499,999 3.00 96.93 5.60 5.63 5.65
25,000-49,999 2,500,000- 4,999,999 2.50 96.43 5.63 5.66 5.68
50,000 and over 5,000,000 and over 2.00 95.94 5.65 5.69 5.71
</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 % $ 98.86 5.59% 5.62% 5.64%
500-999 50,000-99,999 4.75 98.71 5.60 5.63 5.65
1,000-2,499 100,000-249,999 4.50 98.45 5.62 5.64 5.66
2,500-4,999 250,000-499,999 4.25 98.19 5.63 5.66 5.68
5,000-9,999 500,000-999,999 3.50 97.43 5.67 5.70 5.72
10,000-24,999 1,000,000- 2,499,999 3.00 96.93 5.70 5.73 5.75
25,000-49,999 2,500,000- 4,999,999 2.50 96.43 5.73 5.76 5.78
50,000 and over 5,000,000 and over 2.00 95.94 5.76 5.79 5.81
</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*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
--------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6475(1) $ 5.4250
-------- $.4518 every month --------
Quarterly Distribution Plan........... $ .6475(1) $ .4545(2) $ 1.3635 $ 1.3635 $ 5.4570
Semi-Annual Distribution Plan......... $ .6475(1) $ .4563(3) $ 2.7378 $ 5.4760
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01506 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.6475 per unit for the 43-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 10/01/95 is $.6475 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01506 Quarterly - $0.01515
Semi-Annual - $0.01521
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
--------------------------------------------------------------------------------
819
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.1 years.
The first bond is scheduled to mature in October, 2019, with the last bond
maturity being October, 2026.
-------------------------------------------------------
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
GEORGIA
INSURED
TRUST 46
Estimated Current Return
5.49% to 5.71%
as of 08/17/95
Estimated Long Term Return
5.56% to 5.79%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67101M 678 Monthly Payment Option
67101M 686 Quarterly Payment Option
67101M 694 Semi-Annual Payment Option
Registered in Georgia
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, GEORGIA INSURED TRUST 46
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT AUGUST 18, 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 Municipal Electric Authority of Georgia, General Power No Optional AAA Aaa
Revenue Bonds, 1992B Series, 6.375% Due 1/1/16. Call
500,000 Metropolitan Atlanta Rapid Transit Authority (Georgia), 2003 at 102 AAA Aaa
Sales Tax Revenue Bonds (Second Indenture Series), Series
1993A, 5.125% Due 7/1/18.
500,000 City of Atlanta, Georgia, Water and Sewerage Revenue Bonds, 2004 at 102 AAA Aaa
Series 1993, 5.00% Due 1/1/15.
500,000 Chatham County School District (Georgia), General Obligation 2003 at 102 AAA Aaa
School Bonds, Series 1994, 6.75% Due 8/1/18.
500,000 Fulton County School District (Georgia), General Obligation 2004 at 102 AAA Aaa
Bonds, Series 1993, 5.625% Due 1/1/21.
500,000 Hospital Authority of Gordon County (Georgia), Revenue 2005 at 102 AAA Aaa
Anticipation Certificates, Series 1995 (Adventist Health
System/Sunbelt Obligated Group), 5.75% Due 11/15/25.
500,000 Commonwealth of Puerto Rico, Public Improvement Bonds of 2005 at 101 AAA Aaa
1995 (General Obligation Bonds.), 5.375% Due 7/1/22. 1/2
(Original issue discount bonds delivered on or about May
4, 1995 at a price of 93.916% 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 % $ 99.55 5.49% 5.52% 5.54%
500-999 50,000-99,999 4.75 99.39 5.50 5.53 5.55
1,000-2,499 100,000-249,999 4.50 99.13 5.52 5.55 5.57
2,500-4,999 250,000-499,999 4.25 98.87 5.53 5.56 5.58
5,000-9,999 500,000-999,999 3.50 98.10 5.57 5.61 5.63
10,000-24,999 1,000,000- 2,499,999 3.00 97.60 5.60 5.64 5.65
25,000-49,999 2,500,000- 4,999,999 2.50 97.10 5.63 5.66 5.68
50,000 and over 5,000,000 and over 2.00 96.60 5.66 5.69 5.71
</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 % $ 99.55 5.56% 5.60% 5.62%
500-999 50,000-99,999 4.75 99.39 5.57 5.61 5.63
1,000-2,499 100,000-249,999 4.50 99.13 5.59 5.63 5.64
2,500-4,999 250,000-499,999 4.25 98.87 5.60 5.64 5.66
5,000-9,999 500,000-999,999 3.50 98.10 5.65 5.68 5.70
10,000-24,999 1,000,000- 2,499,999 3.00 97.60 5.68 5.71 5.73
25,000-49,999 2,500,000- 4,999,999 2.50 97.10 5.70 5.74 5.76
50,000 and over 5,000,000 and over 2.00 96.60 5.73 5.77 5.79
</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
Georgia Insured Trust 1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 10/1 11/1 2/1 5/1
Distribution Date..................... 10/15 11/15 2/15 5/15
--------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6527(1) $ 5.4679
-------- $.4554 every month --------
Quarterly Distribution Plan........... $ .6527(1) $ .4581(2) $ 1.3743 $ 1.3743 $ 5.4999
Semi-Annual Distribution Plan......... $ .6527(1) $ .4599(3) $ 2.7594 $ 5.5189
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month.
(1) The first distribution will be paid to all Unitholders, regardless of the distribution plan selected. Such distribution may
be more or less than a regular monthly distribution.
(2) The second distribution under the quarterly distribution plan represents a 1-month distribution; subsequent quarterly
distributions will be regular 3-month distributions.
(3) The second distribution under the semi-annual distribution plan represents a 1-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 $.01518 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.6527 per unit for the 43-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 10/01/95 is $.6527 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01518 Quarterly - $0.01527
Semi-Annual - $0.01533
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.
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AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.0 years.
The first bond is scheduled to mature in January, 2015, with the last bond
maturity being November, 2025.
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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.
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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.
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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.
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REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
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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.
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* 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.
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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.
