<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
VIRGINIA
TRUST 304
(VIRGINIA TRADITIONAL TRUST 304)
Estimated Current Return
5.29% to 5.51%
as of 10/04/95
Estimated Long Term Return
5.34% to 5.62%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds
Cusip:
6706L5 820 Monthly Payment Option
6706L5 838 Quarterly Payment Option
6706L5 846 Semi-Annual Payment Option
Registered in Virginia
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--VIRGINIA TRADITIONAL TRUST 304
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT OCTOBER 5, 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 Virginia Peninsula Regional Jail Authority, Regional Jail 2005 at 101 AAA Aaa
Facility Revenue Bonds, Series 1995, 5.50% Due 10/1/18.
(MBIA Insured.)
500,000 Industrial Development Authority of Albemarle County, 2003 at 102 -- A
Virginia, Hospital Refunding Revenue Bonds (Martha
Jefferson Hospital), Series 1993, 5.50% Due 10/1/15.
(Original issue discount bonds delivered on or about July
1, 1993 at a price of 94.478% of principal amount.)
500,000 Industrial Development Authority of the City of Chesapeake, 2003 at 102 AA- Aa3
Virginia, Port Facilities Refunding Revenue Bonds, Series
1993 (Cargill, Incorporated Project), 5.875% Due 3/1/13.
500,000 Industrial Development Authority of Fairfax County, No Optional AA- Aa
Virginia, Hospital Revenue Refunding Bonds (Inova Health Call
System Hospitals Project), Series 1993A, 5.00% Due
8/15/23. (Original issue discount bonds delivered on or
about November 3, 1993 at a price of 94.807% of principal
amount.)
500,000 Industrial Development Authority of the Town of Louisa, 2004 at 102 A A2
Virginia, Pollution Control Revenue Bonds (Virginia
Electric and Power Company Project), Series 1994, 5.45%
Due 1/1/24.
250,000 Norfolk Redevelopment and Housing Authority (Virginia), 2005 at 102 AA Aa
Educational Facility Revenue Bonds (State Board for
Community Colleges-Tidewater Community College Downtown
Campus), Series of 1995, 5.875% Due 11/1/15.
500,000 City of Norfolk, Virginia, Water Revenue Bonds, Series 1995, 2005 at 102 AAA Aaa
5.875% Due 11/1/20. (MBIA Insured.)
500,000 City of Richmond, Virginia, General Obligation Public 2003 at 102 AA A1
Improvement Bonds, Series 1993B, 5.50% Due 7/15/23.
----------
$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 a compounding factor, 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 % $ 100.31 5.29% 5.33% 5.34%
500-999 50,000-99,999 4.75 100.16 5.30 5.33 5.35
1,000-2,499 100,000-249,999 4.50 99.90 5.32 5.35 5.37
2,500-4,999 250,000-499,999 4.25 99.63 5.33 5.36 5.38
5,000-9,999 500,000-999,999 3.50 98.86 5.37 5.40 5.42
10,000-24,999 1,000,000- 2,499,999 3.00 98.35 5.40 5.43 5.45
25,000-49,999 2,500,000- 4,999,999 2.50 97.85 5.43 5.46 5.48
50,000 and over 5,000,000 and over 2.00 97.35 5.45 5.49 5.51
</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 % $ 100.31 5.34% 5.37% 5.39%
500-999 50,000-99,999 4.75 100.16 5.35 5.38 5.40
1,000-2,499 100,000-249,999 4.50 99.90 5.37 5.40 5.42
2,500-4,999 250,000-499,999 4.25 99.63 5.39 5.42 5.44
5,000-9,999 500,000-999,999 3.50 98.86 5.45 5.48 5.50
10,000-24,999 1,000,000- 2,499,999 3.00 98.35 5.49 5.52 5.54
25,000-49,999 2,500,000- 4,999,999 2.50 97.85 5.53 5.56 5.58
50,000 and over 5,000,000 and over 2.00 97.35 5.57 5.60 5.62
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to Date of Deposit. The estimated
current return for purchases made on such date will be as shown, as long as
the portfolio size and composition remain the same.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3835(1) $ 5.3104
-------- $.4425 every month --------
Quarterly Distribution Plan........... $ .3835(1) $ 1.3347(2) $ 1.3347 $ 1.3347 $ 5.3424
Semi-Annual Distribution Plan......... $ .3835(1) $ 2.6802(3) $ 5.3614
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
* 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.
(1) The first distribution will be paid to all Unitholders, regardless of the
distribution plan selected. Such distribution may be more or less than a
regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 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 $.01475 per unit per day.
Consequently, on the first Record Date (11/01/95), accrued interest will total
$0.3835 per unit for the 26-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 11/01/95 is $.3835 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01475 Quarterly - $0.01483
Semi-Annual - $0.01489
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.
- --------------------------------------------------------------------------------
828
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.0 years.
The first bond is scheduled to mature in March, 2013, with the last bond
maturity being January, 2024.
- -------------------------------------------------------
QUALITY OF PORTFOLIO AS RATED BY
STANDARD & POOR'S, A DIVISION OF THE MCGRAW HILL COMPANIES
OR MOODY'S INVESTORS SERVICE, INC.
- -------------------------------------------------------
<TABLE>
<S> <C> <C>
Rating Percent of Portfolio
Category Par Value
- --------------------------------------------------------------------
AAA 21%
AA 50
A 29
---
100%
</TABLE>
- -------------------------------------------------------
CALL PROTECTION Bonds are first subject to optional redemption by the issuers
in the years and at the prices shown under the Optional 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, The Chase Manhattan Bank, N.A., 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, RISKS
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
MASSACHUSETTS
INSURED
TRUST 130
Estimated Current Return
5.24% to 5.45%
as of 10/04/95
Estimated Long Term Return
5.29% to 5.56%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
670947 498 Monthly Payment Option
670947 506 Quarterly Payment Option
670947 514 Semi-Annual Payment Option
Registered in Massachusetts
John Nuveen & Co. Incorporated
Investment Bankers
<TABLE>
<S> <C>
Chicago: Atlanta
333 W. Wacker Dr. Austin
Chicago, Illinois 60606 Boca Raton
Telephone: 312.917.7700 Boston
Columbus
New York: Dallas/Ft. Worth
Swiss Bank Tower Irvine
10 East 50th Street Philadelphia
New York, New York 10022 Phoenix
Telephone: 212.207.2000 San Francisco
Seattle
Tampa
Washington, D.C.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
NUVEEN TAX-EXEMPT UNIT TRUST--INSURED, MASSACHUSETTS INSURED TRUST 130
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT OCTOBER 5, 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 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, New England Medical Center Hospitals Issue,
Series G-1, 5.375% Due 7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, 2005 at 102 AAA Aaa
Revenue Bonds, Newton-Wellesley Hospital Issue, Series E,
5.875% Due 7/1/15.
500,000 Massachusetts Health and Educational Facilities Authority, 2004 at 102 AAA Aaa
Revenue Bonds, Smith College Issue, Series D, 5.75% Due
7/1/24.
500,000 Massachusetts Health and Educational Facilities Authority, 2003 at 102 AAA Aaa
Revenue Bonds, Wellesley College Issue, Series D, 5.375%
Due 7/1/19.
500,000 Massachusetts Municipal Wholesale Electric Company, A Public 2004 at 102 AAA Aaa
Corporation of the Commonwealth of Massachusetts, Power
Supply System Revenue Bonds, 1994 Series A, 5.00% Due
7/1/17.
500,000 Massachusetts Water Resources Authority, General Revenue 2004 at 101 AAA Aaa
Bonds, 1994 Series A, 6.00% Due 8/1/24. 1/2
500,000 Dedham-Westwood Water District, Massachusetts, General 2003 at 102 AAA Aaa
Obligation Refunding Bonds, 5.15% Due 10/15/16.
----------
$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 a compounding factor, 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 % $ 100.39 5.24% 5.27% 5.29%
500-999 50,000-99,999 4.75 100.23 5.24 5.28 5.30
1,000-2,499 100,000-249,999 4.50 99.97 5.26 5.29 5.31
2,500-4,999 250,000-499,999 4.25 99.71 5.27 5.30 5.32
5,000-9,999 500,000-999,999 3.50 98.93 5.31 5.35 5.37
10,000-24,999 1,000,000- 2,499,999 3.00 98.42 5.34 5.37 5.39
25,000-49,999 2,500,000- 4,999,999 2.50 97.92 5.37 5.40 5.42
50,000 and over 5,000,000 and over 2.00 97.42 5.40 5.43 5.45
</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 % $ 100.39 5.29% 5.32% 5.34%
500-999 50,000-99,999 4.75 100.23 5.30 5.33 5.35
1,000-2,499 100,000-249,999 4.50 99.97 5.32 5.35 5.37
2,500-4,999 250,000-499,999 4.25 99.71 5.33 5.36 5.38
5,000-9,999 500,000-999,999 3.50 98.93 5.40 5.43 5.45
10,000-24,999 1,000,000- 2,499,999 3.00 98.42 5.44 5.47 5.49
25,000-49,999 2,500,000- 4,999,999 2.50 97.92 5.47 5.50 5.52
50,000 and over 5,000,000 and over 2.00 97.42 5.51 5.54 5.56
</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
1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3796(1) $ 5.2569
-------- $.4380 every month --------
Quarterly Distribution Plan........... $ .3796(1) $ 1.3221(2) $ 1.3221 $ 1.3221 $ 5.2889
Semi-Annual Distribution Plan......... $ .3796(1) $ 2.6532(3) $ 5.3079
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
* 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.
(1) The first distribution will be paid to all Unitholders, regardless of the
distribution plan selected. Such distribution may be more or less than a
regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 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 $.01460 per unit per day.
Consequently, on the first Record Date (11/01/95), accrued interest will total
$0.3796 per unit for the 26-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 11/01/95 is $.3796 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01460 Quarterly - $0.01469
Semi-Annual - $0.01474
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.
- --------------------------------------------------------------------------------
828
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 24.6 years.
The first bond is scheduled to mature in July, 2015, with the last bond maturity
being August, 2024.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the MBIA Insurance 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 Optional 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, The Chase Manhattan Bank, N.A., 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.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES, RISKS
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 198
Estimated Current Return
First
Year: 5.18% to 5.39%
Subsequent
Years: 5.21% to 5.42%
as of 10/04/95
Estimated Long Term Return
5.26% to 5.53%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706LA 191 Monthly Payment Option
6706LA 209 Quarterly Payment Option
6706LA 217 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 198
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT OCTOBER 5, 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>
--------------------------------------------------------------------------------------------------------------------------
$ 455,000 New Jersey Building Authority, State Building Revenue Bonds, 2003 at 102 AAA Aaa
1994 Series, 5.00% Due 6/15/19.
500,000 New Jersey Economic Development Authority, Revenue Bonds 2003 at 102 AAA Aaa
(Saint Barnabas Realty Development Corporation Project),
Series 1993, 5.25% Due 7/1/20.
520,000 The Port Authority of New York and New Jersey, Consolidated 2005 at 101 AAA Aaa
Bonds, One Hundredth Series, 5.75% Due 6/15/30.
525,000 New Jersey Transportation Trust Fund Authority, 2005 at 102 AAA Aaa
Transportation System Bonds, 1995 Series A, 5.50% Due
6/15/12.
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), 5.95% Due
12/1/25.
500,000 The Evesham Municipal Utilities Authority (Burlington 2005 at 100 AAA Aaa
County, New Jersey), Revenue Bonds, 1995 Series A, 5.65%
Due 7/1/15. (When issued.)
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.
----------
$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 a compounding factor, 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 % $ 101.42 (5.18%) 5.21% (5.21%) 5.24% (5.23%) 5.26%
500-999 50,000-99,999 4.75 101.26 (5.19) 5.21 (5.22) 5.25 (5.24) 5.26
1,000-2,499 100,000-249,999 4.50 100.99 (5.20) 5.23 (5.23) 5.26 (5.25) 5.28
2,500-4,999 250,000-499,999 4.25 100.73 (5.21) 5.24 (5.25) 5.27 (5.27) 5.29
5,000-9,999 500,000-999,999 3.50 99.95 (5.26) 5.28 (5.29) 5.31 (5.31) 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 99.43 (5.28) 5.31 (5.31) 5.34 (5.33) 5.36
25,000-49,999 2,500,000- 4,999,999 2.50 98.92 (5.31) 5.34 (5.34) 5.37 (5.36) 5.39
50,000 and over 5,000,000 and over 2.00 98.42 (5.34) 5.36 (5.37) 5.40 (5.39) 5.42
</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 % $ 101.42 5.26% 5.29% 5.31%
500-999 50,000-99,999 4.75 101.26 5.27 5.30 5.32
1,000-2,499 100,000-249,999 4.50 100.99 5.29 5.32 5.34
2,500-4,999 250,000-499,999 4.25 100.73 5.31 5.34 5.36
5,000-9,999 500,000-999,999 3.50 99.95 5.37 5.40 5.42
10,000-24,999 1,000,000- 2,499,999 3.00 99.43 5.40 5.43 5.45
25,000-49,999 2,500,000- 4,999,999 2.50 98.92 5.44 5.47 5.49
50,000 and over 5,000,000 and over 2.00 98.42 5.48 5.51 5.53
</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
1995 1996 per Year +
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 11/1 2/1 5/1 8/1
Distribution Date..................... 11/15 2/15 5/15 8/15
- --------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .3811(1) $ 5.2801
-------- $.4398 every month --------
Quarterly Distribution Plan........... $ .3811(1) $ 1.3275(2) $ 1.3275 $ 1.3275 $ 5.3121
Semi-Annual Distribution Plan......... $ .3811(1) $ 2.6640(3) $ 5.3311
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
* 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.
(1) The first distribution will be paid to all Unitholders, regardless of the
distribution plan selected. Such distribution may be more or less than a
regular monthly distribution.
(2) Regular 3-month distribution.
(3) Regular 6-month distribution.
+ Interest for Unitholders of this series began to accrue as of the Date of
Deposit. Units purchased on the Date of Deposit will have $.09 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 $.01466 per unit per day.
Consequently, on the first Record Date (11/01/95), accrued interest will total
$0.3811 per unit for the 26-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 11/01/95 is $.3811 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01466 Quarterly - $0.01475
Semi-Annual - $0.01480
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.
- --------------------------------------------------------------------------------
828
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 26.8 years.
The first bond is scheduled to mature in June, 2012, with the last bond maturity
being November, 2033.
- -------------------------------------------------------
BONDS INSURED BY MBIA Each bond in this Nuveen Insured series has been
insured* by the MBIA Insurance 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 Optional 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, The Chase Manhattan Bank, N.A., 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.
- -------------------------------------------------------
FOR A PROSPECTUS CONTAINING MORE COMPLETE INFORMATION, INCLUDING CHARGES, RISKS
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.
