<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
CALIFORNIA
INSURED
TRUST 254
Estimated Current Return
5.32% to 5.53%
as of 09/08/95
Estimated Long Term Return
5.38% to 5.66%
50,000 units in a
diversified $5,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064W 317 Monthly Payment Option
67064W 325 Quarterly Payment Option
67064W 333 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 254
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 11, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 430,000 California Statewide Communities Development Authority, 2003 at 102 AAA Aaa
Insured Health Facilities Revenue Certificates of
Participation (UniHealth America), 1993 Series A, 5.50%
Due 10/1/14.
250,000 California Health Facilities Financing Authority, Insured 2003 at 100 AAA Aaa
Hospital Revenue Bonds (Scripps Health), Series 1993A,
4.625% Due 10/1/13. (Original issue discount bonds
delivered on or about September 22, 1993 at a price of
93.724% of principal amount.)
750,000 The Regents of the University of California, 1993 Refunding 2003 at 102 AAA Aaa
Certificates of Participation (UCLA Central Chiller/
Cogeneration Facility), 5.50% Due 11/1/14.
750,000 County of Alameda, California, 1993 Refunding Certificates 2003 at 102 AAA Aaa
of Participation (Santa Rita Jail Project), 5.70% Due
12/1/14.
750,000 The City of Los Angeles, California, Wastewater System 2004 at 102 AAA Aaa
Revenue Bonds, Series 1994-A, 5.875% Due 6/1/24.
750,000 Department of Water and Power of The City of Los Angeles 2003 at 102 AAA Aaa
(California), Electric Plant Refunding Revenue Bonds,
Issue of 1993, 5.875% Due 9/1/30.
570,000 Sacramento Municipal Utility District (California), Electric 2003 at 100 AAA Aaa
Revenue Refunding Bonds, 1993 Series G, 4.75% Due 9/1/21.
(Original issue discount bonds delivered on or about
October 13, 1993 at a price of 91.352% of principal
amount.)
750,000 Airports Commission of the City and County of San Francisco, 2004 at 101 AAA Aaa
California, San Francisco International Airport, Second
Series Revenue Bonds, Issue 8B, 6.10% Due 5/1/25.
----------
$5,000,000
----------
----------
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect expenses and sales charges.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Current Return (2)
-----------------------------------------------------
AMOUNT PURCHASED Public
------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.77 5.32% 5.35% 5.37%
500-999 50,000-99,999 4.75 100.61 5.33 5.36 5.38
1,000-2,499 100,000-249,999 4.50 100.35 5.34 5.37 5.39
2,500-4,999 250,000-499,999 4.25 100.08 5.36 5.39 5.41
5,000-9,999 500,000-999,999 3.50 99.31 5.40 5.43 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.79 5.43 5.46 5.48
25,000-49,999 2,500,000- 4,999,999 2.50 98.29 5.45 5.49 5.50
50,000 and over 5,000,000 and over 2.00 97.79 5.48 5.51 5.53
</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 % $ 100.77 5.38% 5.41% 5.43%
500-999 50,000-99,999 4.75 100.61 5.39 5.42 5.44
1,000-2,499 100,000-249,999 4.50 100.35 5.41 5.44 5.46
2,500-4,999 250,000-499,999 4.25 100.08 5.43 5.46 5.48
5,000-9,999 500,000-999,999 3.50 99.31 5.49 5.52 5.54
10,000-24,999 1,000,000- 2,499,999 3.00 98.79 5.53 5.56 5.58
25,000-49,999 2,500,000- 4,999,999 2.50 98.29 5.57 5.60 5.62
50,000 and over 5,000,000 and over 2.00 97.79 5.60 5.64 5.66
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to 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 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............. $ .2976(1) $ 5.3598
-------- $.4464 every month --------
Quarterly Distribution Plan........... $ .2976(1) $ .4491(2) $ 1.3473 $ 1.3473 $ 5.3918
Semi-Annual Distribution Plan......... $ .2976(1) $ .4506(3) $ 2.7036 $ 5.4108
--------------------------------------------------------------------------------------------------------------------
<FN>
* Record Dates for semi-annual distributions are May 1 and November 1; for quarterly distributions, they are February 1, May 1,
August 1 and November 1. Record Dates for monthly distributions are the first day of each month. Distribution Dates under
each distribution plan are the fifteenth day of the month in which the respective Record Date occurred. For additional
information see "WHEN ARE DISTRIBUTIONS MADE TO UNITHOLDERS?" in Part B of this Prospectus.
(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 $.04 of accrued
interest that will be added to the Public Offering Price on the Settlement Date.
After provision for expenses of the Fund, the daily rate of accrual from the
Date of Deposit to the first Record Date is $.01488 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.2976 per unit for the 20-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 $.2976 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01488 Quarterly - $0.01497
Semi-Annual - $0.01502
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.
--------------------------------------------------------------------------------
824
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 25.3 years.
The first bond is scheduled to mature in October, 2013, with the last bond
maturity being September, 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.
-------------------------------------------------------
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 217
Estimated Current Return
5.17% to 5.38%
as of 09/08/95
Estimated Long Term Return
5.25% to 5.51%
50,000 units in a
diversified $5,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H4 315 Monthly Payment Option
6706H4 323 Quarterly Payment Option
6706H4 331 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 217
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 11, 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 State of Florida, Full Faith and Credit, State Board of 2005 at 101 AAA Aaa
Education, Public Education Capital Outlay Bonds, 1995
Series B, 5.875% Due 6/1/25. (General Obligation Bonds.)
440,000 State of Florida, Full Faith and Credit, Dade County Road 2004 at 101 AAA Aaa
Refunding Bonds, Series 1993, 5.125% Due 7/1/17. (General
Obligation Bonds.)
375,000 State of Florida, Department of Management Services, 2005 at 101 AAA Aaa
Division of Facilities Management, Florida Facilities Pool
Revenue Bonds, Series 1995A, 5.80% Due 9/1/24.
500,000 Florida Municipal Power Agency, Stanton II Project Refunding 2003 at 100 AAA Aaa
Revenue Bonds, Series 1993, 4.50% Due 10/1/27. (Original
issue discount bonds delivered on or about October 5, 1993
at a price of 88.625% of principal amount.)
750,000 Dade County, Florida, Aviation Revenue Bonds, Series 1995C, 2005 at 102 AAA Aaa
5.75% Due 10/1/25.
435,000 City of Ocala, Florida, Capital Improvement Refunding 2003 at 102 AAA Aaa
Revenue Certificates, Series 1993, 5.00% Due 10/1/18.
750,000 Orange County (Florida), Health Facilities Authority, 2005 at 102 AAA Aaa
Hospital Revenue Bonds, Series 1995 (Adventist Health
System/Sunbelt Obligated Group), 5.25% Due 11/15/20.
(Original issue discount bonds delivered on or about June
8, 1995 at a price of 91.00% of principal amount.)
750,000 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.)
250,000 Tampa Sports Authority, 1995 Special Purpose Bonds, State of No Optional AAA Aaa
Florida Sales Tax Payment Series (Tampa Bay Arena Call
Project), 5.75% Due 10/1/25.
----------
$5,000,000
----------
----------
</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 % $ 98.90 5.17% 5.20% 5.22%
500-999 50,000-99,999 4.75 98.74 5.18 5.21 5.23
1,000-2,499 100,000-249,999 4.50 98.48 5.19 5.23 5.25
2,500-4,999 250,000-499,999 4.25 98.22 5.21 5.24 5.26
5,000-9,999 500,000-999,999 3.50 97.46 5.25 5.28 5.30
10,000-24,999 1,000,000- 2,499,999 3.00 96.96 5.28 5.31 5.33
25,000-49,999 2,500,000- 4,999,999 2.50 96.46 5.30 5.34 5.36
50,000 and over 5,000,000 and over 2.00 95.97 5.33 5.36 5.38
</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 % $ 98.90 5.25% 5.28% 5.30%
500-999 50,000-99,999 4.75 98.74 5.26 5.29 5.30
1,000-2,499 100,000-249,999 4.50 98.48 5.28 5.31 5.33
2,500-4,999 250,000-499,999 4.25 98.22 5.29 5.32 5.34
5,000-9,999 500,000-999,999 3.50 97.46 5.35 5.38 5.40
10,000-24,999 1,000,000- 2,499,999 3.00 96.96 5.39 5.42 5.44
25,000-49,999 2,500,000- 4,999,999 2.50 96.46 5.42 5.45 5.47
50,000 and over 5,000,000 and over 2.00 95.97 5.46 5.49 5.51
</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 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............. $ .2842(1) $ 5.1156
-------- $.4263 every month --------
Quarterly Distribution Plan........... $ .2842(1) $ .4287(2) $ 1.2861 $ 1.2861 $ 5.1476
Semi-Annual Distribution Plan......... $ .2842(1) $ .4305(3) $ 2.5830 $ 5.1666
--------------------------------------------------------------------------------------------------------------------
<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. Distribution Dates under
each distribution plan are the fifteenth day of the month in which the respective Record Date occurred. For additional
information see "WHEN ARE DISTRIBUTIONS MADE TO UNITHOLDERS?" in Part B of this Prospectus.
(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 $.04 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 $.01421 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.2842 per unit for the 20-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 $.2842 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01421 Quarterly - $0.01429
Semi-Annual - $0.01435
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.
--------------------------------------------------------------------------------
824
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.8 years.
The first bond is scheduled to mature in July, 2017, 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.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NEW JERSEY
INSURED
TRUST 197
Estimated Current Return
5.18% to 5.39%
as of 09/08/95
Estimated Long Term Return
5.24% to 5.51%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706LA 167 Monthly Payment Option
6706LA 175 Quarterly Payment Option
6706LA 183 Semi-Annual Payment Option
Registered in New Jersey
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
--------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, NEW JERSEY INSURED TRUST 197
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 11, 1995
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$ 500,000 New Jersey Economic Development Authority, Water Facilities 2004 at 102 AAA Aaa
Revenue Refunding Bonds (Hackensack Water Company
Project-1994 Series A), 5.80% Due 3/1/24.
500,000 The Port Authority of New York and New Jersey, Consolidated 2005 at 101 AAA Aaa
Bonds, One Hundredth Series, 5.75% Due 12/15/20.
435,000 New Jersey Sports and Exposition Authority, State Contract 2003 at 101 AAA Aaa
Bonds, 1993 Series A, 5.50% Due 9/1/23.
500,000 New Jersey Transportation Trust Fund Authority, 2005 at 102 AAA Aaa
Transportation System Bonds, 1995 Series A, 5.00% Due
6/15/15. (Original issue discount bonds delivered on or
about August 3, 1995 at a price of 90.629% of principal
amount.)
500,000 The Delaware River and Bay Authority, Revenue Bonds 2004 at 102 AAA Aaa
(Delaware and New Jersey), Series 1993, 4.75% Due 1/1/24.
(Original issue discount bonds delivered on or about
October 27, 1993 at a price of 94.631% of principal
amount.)
500,000 The Essex County Improvement Authority (Essex County, New 2005 at 102 AAA Aaa
Jersey), County of Essex General Obligation Lease Revenue
Bonds, Series 1995 (Gibraltar Building Project), 5.80% Due
12/1/15.
500,000 The Pollution Control Financing Authority of Salem County 2003 at 102 AAA Aaa
(New Jersey), Pollution Control Revenue Refunding Bonds,
1993 Series C (Public Service Electric and Gas Company
Project), 5.55% Due 11/1/33.
65,000 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 % $ 100.49 5.18% 5.21% 5.23%
500-999 50,000-99,999 4.75 100.34 5.18 5.22 5.23
1,000-2,499 100,000-249,999 4.50 100.07 5.20 5.23 5.25
2,500-4,999 250,000-499,999 4.25 99.81 5.21 5.24 5.26
5,000-9,999 500,000-999,999 3.50 99.04 5.25 5.28 5.30
10,000-24,999 1,000,000- 2,499,999 3.00 98.53 5.28 5.31 5.33
25,000-49,999 2,500,000- 4,999,999 2.50 98.02 5.31 5.34 5.36
50,000 and over 5,000,000 and over 2.00 97.52 5.33 5.37 5.39
</TABLE>
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 100.49 5.24% 5.27% 5.29%
500-999 50,000-99,999 4.75 100.34 5.25 5.28 5.30
1,000-2,499 100,000-249,999 4.50 100.07 5.27 5.30 5.32
2,500-4,999 250,000-499,999 4.25 99.81 5.29 5.32 5.34
5,000-9,999 500,000-999,999 3.50 99.04 5.35 5.38 5.40
10,000-24,999 1,000,000- 2,499,999 3.00 98.53 5.38 5.41 5.43
25,000-49,999 2,500,000- 4,999,999 2.50 98.02 5.42 5.45 5.47
50,000 and over 5,000,000 and over 2.00 97.52 5.46 5.49 5.51
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
New Jersey Insured 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............. $ .2888(1) $ 5.2013
-------- $.4332 every month --------
Quarterly Distribution Plan........... $ .2888(1) $ .4359(2) $ 1.3077 $ 1.3077 $ 5.2333
Semi-Annual Distribution Plan......... $ .2888(1) $ .4374(3) $ 2.6244 $ 5.2523
--------------------------------------------------------------------------------------------------------------------
<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. Distribution Dates under
each distribution plan are the fifteenth day of the month in which the respective Record Date occurred. For additional
information see "WHEN ARE DISTRIBUTIONS MADE TO UNITHOLDERS?" in Part B of this Prospectus.
(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 $.04 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 $.01444 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.2888 per unit for the 20-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 $.2888 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01444 Quarterly - $0.01453
Semi-Annual - $0.01458
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.
--------------------------------------------------------------------------------
824
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.9 years.
The first bond is scheduled to mature in June, 2015, with the last bond maturity
being November, 2033.
-------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
-------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
-------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
-------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
-------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
-------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
-------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
TENNESSEE
INSURED
TRUST 29
Estimated Current Return
First
Year: 5.12% to 5.33%
Subsequent
Years: 5.18% to 5.39%
as of 09/08/95
Estimated Long Term Return
5.18% to 5.47%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
67064V 160 Monthly Payment Option
67064V 178 Quarterly Payment Option
67064V 186 Semi-Annual Payment Option
Registered in Tennessee
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, TENNESSEE INSURED TRUST 29
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT SEPTEMBER 11, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 290,000 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.)
500,000 The City of Jackson, Tennessee, Hospital Revenue Refunding 2005 at 102 AAA Aaa
and Improvement Bonds, Series 1995 (Jackson-Madison County
General Hospital Project), 5.625% Due 4/1/15. (When
issued.)
210,000 The Health, Educational and Housing Facilities Board of the 2003 at 102 AAA Aaa
County of Knox (Tennessee), Hospital Facilities Revenue
Refunding Bonds, Series 1993 B (Mercy Health System),
5.875% Due 9/1/15.
500,000 Memphis-Shelby County Airport Authority (Tennessee), Airport 2003 at 102 AAA Aaa
Revenue Refunding Bonds, Series 1993, 5.65% Due 9/1/15.
500,000 The Metropolitan Government of Nashville and Davidson County 2003 at 102 AAA Aaa
(Tennessee), General Obligation Multi-Purpose Improvement
Bonds, Series 1995, 5.625% Due 5/15/21.
500,000 The Health and Educational Facilites Board of the 2005 at 102 AAA Aaa
Metropolitan Government of Nashville and Davidson County,
Tennessee, Hospital Revenue Bonds, Series 1995 (Adventist
Health System/Sunbelt Obligated Group), 5.75% Due
11/15/25.
500,000 The Metropolitan Government of Nashville and Davidson County 2003 at 100 AAA Aaa
(Tennessee), Water and Sewer Revenue Refunding Bonds,
Series 1993, 5.10% Due 1/1/16. (Original issue discount
bonds delivered on or about August 4, 1993 at a price of
93.354% of principal amount.)
500,000 Shelby County, Tennessee, General Obligation Refunding 2005 at 101 AAA Aaa
Bonds, 1995 Series A, 5.625% Due 4/1/14.
----------
$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 % $ 102.63 (5.12%) 5.18% (5.15%) 5.21% (5.17%) 5.23%
500-999 50,000-99,999 4.75 102.47 (5.13) 5.19 (5.16) 5.22 (5.18) 5.24
1,000-2,499 100,000-249,999 4.50 102.20 (5.14) 5.20 (5.18) 5.24 (5.19) 5.25
2,500-4,999 250,000-499,999 4.25 101.93 (5.16) 5.22 (5.19) 5.25 (5.21) 5.27
5,000-9,999 500,000-999,999 3.50 101.14 (5.20) 5.26 (5.23) 5.29 (5.25) 5.31
10,000-24,999 1,000,000- 2,499,999 3.00 100.62 (5.22) 5.29 (5.26) 5.32 (5.28) 5.34
25,000-49,999 2,500,000- 4,999,999 2.50 100.10 (5.25) 5.31 (5.28) 5.35 (5.30) 5.36
50,000 and over 5,000,000 and over 2.00 99.59 (5.28) 5.34 (5.31) 5.37 (5.33) 5.39
</TABLE>
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Estimated Long Term Return (3)
-----------------------------------------------------
AMOUNT PURCHASED Public
------------------------------------- Sales Offering Monthly Quarterly Semi-Annual
Units Dollars Charge Price (1) Payment Payment Payment
---------------- ------------------- ------ ----------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
50-499 $5,000-$49,999 4.90 % $ 102.63 5.18% 5.21% 5.23%
500-999 50,000-99,999 4.75 102.47 5.19 5.22 5.24
1,000-2,499 100,000-249,999 4.50 102.20 5.21 5.24 5.26
2,500-4,999 250,000-499,999 4.25 101.93 5.23 5.26 5.28
5,000-9,999 500,000-999,999 3.50 101.14 5.29 5.32 5.34
10,000-24,999 1,000,000- 2,499,999 3.00 100.62 5.34 5.37 5.38
25,000-49,999 2,500,000- 4,999,999 2.50 100.10 5.37 5.41 5.43
50,000 and over 5,000,000 and over 2.00 99.59 5.42 5.44 5.47
</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
Tennessee Insured 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............. $ .2954(1) $ 5.3185
-------- $.4431 every month --------
Quarterly Distribution Plan........... $ .2954(1) $ .4458(2) $ 1.3374 $ 1.3374 $ 5.3505
Semi-Annual Distribution Plan......... $ .2954(1) $ .4473(3) $ 2.6838 $ 5.3695
--------------------------------------------------------------------------------------------------------------------
<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. Distribution Dates under
each distribution plan are the fifteenth day of the month in which the respective Record Date occurred. For additional
information see "WHEN ARE DISTRIBUTIONS MADE TO UNITHOLDERS?" in Part B of this Prospectus.
(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 $.04 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 $.01477 per unit per day.
Consequently, on the first Record Date (10/01/95), accrued interest will total
$0.2954 per unit for the 20-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 $.2954 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01477 Quarterly - $0.01486
Semi-Annual - $0.01491
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
--------------------------------------------------------------------------------
824
<PAGE>
-------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 22.6 years.
The first bond is scheduled to mature in April, 2014, with the last bond
maturity being November, 2025.
-------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the Municipal Bond Investors Assurance Corporation, which guarantees
timely payments of principal and interest. Premium payments have been fully paid
by the Date of Deposit.
-------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Redemption Provisions column in
the Schedule of Investments. Unless otherwise stated, in subsequent years, bonds
are redeemable at declining prices, but not usually below par value. Some issues
or some portions of issues may also be subject to sinking fund redemption or
extraordinary redemption without premium prior to the dates shown.
-------------------------------------------------------
NO CHARGE FOR REDEMPTION The Trustee, United States Trust Company of New York,
will redeem units at net asset value. In addition, John Nuveen & Co.
Incorporated intends to maintain a secondary market for this Nuveen Tax-Exempt
Unit Trust. Inasmuch as all securities investments are subject to market price
fluctuation, net asset value at the time of redemption could be more or less
than the initial investment.
-------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
-------------------------------------------------------
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK AND ARE NOT FEDERALLY INSURED OR OTHERWISE PROTECTED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE BOARD OR ANY OTHER AGENCY AND
INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
-------------------------------------------------------
* Insurance relates specifically to the bonds and not to the units or to the
market value of units. Terms of the insurance are more fully described in the
prospectus. No representation is made as to the insurer's ability to meet its
commitments. See Section 5 of the prospectus for details.
-------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES AND
EXPENSES, ON THIS NUVEEN TAX-EXEMPT UNIT TRUST AND ANY OTHER NUVEEN FUND, CALL
YOUR BROKER . . . OR NUVEEN AT
1-800-257-8787
READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
