<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
NATIONAL
INSURED
TRUST 308
Estimated Current Return
First
Year: 5.13% to 5.34%
Subsequent
Years: 5.13% to 5.34%
as of 11/16/95
Estimated Long Term Return
5.17% to 5.44%
100,000 units in a
diversified $10,000,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6710A4 439 Monthly Payment Option
6710A4 447 Quarterly Payment Option
6710A4 454 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 308
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 17, 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Ratings
Optional -----------------------
Aggregate Name of Issuer and Title of Issue Represented Redemption Standard
Principal by Sponsor's Contracts to Purchase Bonds Provisions & Poor's Moody's
<C> <C> <S> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
$1,500,000 Contra Costa Water District (Contra Costa County, 2004 at 102 AAA Aaa
California), Water Revenue Bonds, Series G, 5.50% Due
10/1/19. (Original issue discount bonds delivered on or
about September 7, 1994 at a price of 90.795% of principal
amount.)
500,000 State of Florida, State Board of Education, Public Education 2005 at 101 AAA Aaa
Capital Outlay Bonds, 1994 Series C, 5.60% Due 6/1/20.
(General Obligation Bonds.)
220,000 Municipal Electric Authority of Georgia, Power Revenue 2004 at 102 AAA Aaa
Bonds, Series CC, 4.75% Due 1/1/19. (Original issue
discount bonds delivered on or about December 29, 1993 at
a price of 91.50% of principal amount.)
225,000 The County of Cook, Illinois, General Obligation Bonds, 2003 at 100 AAA Aaa
Series 1993A, 5.00% Due 11/15/23. (Original issue discount
bonds delivered on or about July 29, 1993 at a price of
89.684% of principal amount.)
1,000,000 Massachusetts Bay Transportation Authority, General 2005 at 102 AAA Aaa
Transportation System Bonds, 1995 Series A, 5.75% Due
3/1/25. (General Obligation Bonds.)
1,000,000 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.
720,000 Dormitory Authority of the State of New York, University of 2004 at 102 AAA Aaa
Rochester, Strong Memorial Hospital Revenue Bonds, Series
1994, 5.50% Due 7/1/21. (Original issue discount bonds
delivered on or about March 30, 1994 at a price of 93.746%
of principal amount.)
450,000 Dormitory Authority of the State of New York, City 2005 at 102 AAA Aaa
University System, Consolidated Second General Resolution
Revenue Bonds, Series 1995A, 6.00% Due 7/1/17. (When
issued.)
485,000 Pennsylvania Higher Educational Facilities Authority 2005 at 102 AAA Aaa
(Commonwealth of Pennsylvania), Saint Joseph's University
Revenue Bonds, Series of 1995, 5.875% Due 7/15/25.
200,000 County of Berks, Pennsylvania, General Obligation Bonds, No Optional AAA Aaa
Second Series of 1993, 0.00% Due 5/15/19. (Original issue Call
discount bonds delivered on or about November 10, 1993 at
a price of 24.133% of principal amount.)
500,000 Cambria County Industrial Development Authority 2005 at 102 AAA Aaa
(Pennsylvania), Pollution Control Revenue Refunding Bonds,
1995 Series A (Pennsylvania Electric Company Project),
5.80% Due 11/1/20. (When issued.)
1,000,000 Lehigh County (Pennsylvania), General Purpose Authority, 2005 at 102 AAA Aaa
Hospital Revenue Bonds (Lehigh Valley Hospital), Series B
of 1995, 5.625% Due 7/1/25. (When issued.)
200,000 Montour School District (Allegheny County, Pennsylvania), No Optional AAA Aaa
General Obligation Bonds, Series A of 1993, 0.00% Due Call
1/1/21. (Original issue discount bonds delivered on or
about August 19, 1993 at a price of 20.097% of principal
amount.)
1,000,000 Copperas Cove (Texas), Health Facilities Development 2005 at 102 AAA Aaa
Corporation, Hospital Revenue Bonds, Series 1995
(Adventist Health System/Sunbelt Obligated Group), 5.875%
Due 11/15/25.
1,000,000 The City of Seattle, Washington, Municipal Light and Power 2005 at 102 AAA Aaa
Revenue Bonds, 1995, Series A, 5.70% Due 9/1/19.
----------
$10,000,000
----------
----------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
UNIT PRICE, ESTIMATED CURRENT RETURN AND ESTIMATED LONG TERM RETURN DEPEND ON
AMOUNT PURCHASED AND PAYMENT OPTION The sales charges/volume discounts below
apply on all concurrent purchases of any Nuveen trust units, unless any such
purchases are made by a class of investors for which a separate sales charge is
applicable as described more fully in the Prospectus. Estimated Current Return
equals net income divided by offering price. Estimated Long Term Return
represents an average of the yields to maturity (or call) of the Bonds in the
Trust adjusted to reflect 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 % $ 100.94 (5.13%) 5.13% (5.16%) 5.17% (5.18%) 5.19%
500-999 50,000-99,999 4.75 100.78 (5.14) 5.14 (5.17) 5.17 (5.19) 5.19
1,000-2,499 100,000-249,999 4.50 100.51 (5.15) 5.16 (5.18) 5.19 (5.20) 5.21
2,500-4,999 250,000-499,999 4.25 100.25 (5.16) 5.17 (5.20) 5.20 (5.22) 5.22
5,000-9,999 500,000-999,999 3.50 99.47 (5.20) 5.21 (5.24) 5.24 (5.26) 5.26
10,000-24,999 1,000,000- 2,499,999 3.00 98.96 (5.23) 5.24 (5.26) 5.27 (5.28) 5.29
25,000-49,999 2,500,000- 4,999,999 2.50 98.45 (5.26) 5.26 (5.29) 5.30 (5.31) 5.32
50,000 and over 5,000,000 and over 2.00 97.95 (5.29) 5.29 (5.32) 5.32 (5.34) 5.34
</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 % $ 100.94 5.17% 5.21% 5.23%
500-999 50,000-99,999 4.75 100.78 5.18 5.21 5.23
1,000-2,499 100,000-249,999 4.50 100.51 5.20 5.24 5.26
2,500-4,999 250,000-499,999 4.25 100.25 5.21 5.25 5.27
5,000-9,999 500,000-999,999 3.50 99.47 5.27 5.31 5.33
10,000-24,999 1,000,000- 2,499,999 3.00 98.96 5.31 5.35 5.37
25,000-49,999 2,500,000- 4,999,999 2.50 98.45 5.34 5.38 5.40
50,000 and over 5,000,000 and over 2.00 97.95 5.38 5.42 5.44
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
(1) As of the business day prior to the Date of Deposit. Units are offered at
the Public Offering Price plus accrued interest.
(2) All figures as of the business day prior to the Date of Deposit. Figures in
brackets represent the current return. The first year's estimated current
returns are slightly lower than those for subsequent years because a portion
of the monies received in the first year only will be treated as a return of
principal due to the inclusion in the portfolio of "when issued" or other
Bonds having delivery dates after the date of settlement for a purchase made
on the Date of Deposit.
(3) In contrast to Estimated Current Return, Estimated Long Term Return reflects
the amortization of premium or accretion of discount, if any, on the bonds
in the Trust's portfolio.
- --------------------------------------------------------------------------------
REINVESTMENT OPTIONS Specify automatic reinvestment of trust income, with no
sales charge, to earn compounded dividends with Nuveen mutual funds.
- --------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS TO UNITHOLDERS Unitholders may elect to have interest
distributions made on a monthly, quarterly, or semi-annual basis. Record Dates
are May 1 and November 1 for semi-annual distributions; February 1, May 1,
August 1 and November 1 for quarterly distributions; and the first of each month
for monthly distributions. Details of interest distributions per unit under the
various plans appear in the following table based upon estimated net annual
interest income at the Date of Deposit:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Normal
Distributions
1995 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6331(1) $ 5.1829
-------- $.4317 every month --------
Quarterly Distribution Plan........... $ .6331(1) $ .4344(2) $ 1.3032 $ 1.3032 $ 1.3032 $ 5.2149
Semi-Annual Distribution Plan......... $ .6331(1) $ 1.7436(3) $ 2.6154 $ 5.2339
- ---------------------------------------------------------------------------------------------------------------------------------
</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) 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
4-month distribution; subsequent semi-annual distributions will be regular
6-month distributions.
+ 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 $.01439 per unit per day.
Consequently, on the first Record Date (01/01/96), accrued interest will total
$0.6331 per unit for the 44-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 01/01/96 is $.6331 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01439 Quarterly - $0.01448
Semi-Annual - $0.01453
This daily rate of accrual, and the annual distributions shown above, will
remain the same as long as the portfolio size and composition remain the same.
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------------
DIVERSIFICATION OF PORTFOLIO INCOME
There are 15 Tax-exempt bond issues in this trust; this diversified portfolio
yields current income from issuers in 10 states .
<TABLE>
<S> <C> <C> <C> <C> <C>
- -------------------------------------------------------
Percent Percent
of Total of Total
Income Income
- -------------------------------------------------------
California 15.2 % New Jersey 10.3 %
Florida 5.2 New York 12.3
Georgia 1.9 Pennsylvania 21.0
Illinois 2.1 Texas 10.9
Massachusetts 10.6 Washington 10.5
</TABLE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 27.5 years.
The first bond is scheduled to mature in July, 2017, 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.
- -------------------------------------------------
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.
836
<PAGE>
NUVEEN Tax-Exempt Unit Trusts
NUVEEN
FLORIDA
INSURED
TRUST 220
Estimated Current Return
5.08% to 5.28%
as of 11/16/95
Estimated Long Term Return
5.09% to 5.35%
35,000 units in a
diversified $3,500,000
portfolio of tax-exempt
bonds rated "AAA"
Cusip:
6706H4 406 Monthly Payment Option
6706H4 414 Quarterly Payment Option
6706H4 422 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 220
SCHEDULE OF INVESTMENTS
DATE OF DEPOSIT NOVEMBER 17, 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, 1994 Series C, 5.60% Due 6/1/25.
(General Obligation Bonds.)
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.)
500,000 Dade County, Florida, Water and Sewer System Revenue Bonds, 2005 at 102 AAA Aaa
Series 1995, 5.50% Due 10/1/25. (Original issue discount
bonds delivered on or about October 19, 1995 at a price of
94.942% of principal amount.)
500,000 Lee County, Florida, Transportation Facilities Revenue 2005 at 102 AAA Aaa
Bonds, Series 1995, 5.75% Due 10/1/22. (Original issue
discount bonds delivered on or about May 16, 1995 at a
price of 94.726% of principal amount.)
500,000 Orange County (Florida), Health Facilities Authority, 2005 at 102 AAA Aaa
Hospital Revenue Bonds, Series 1995 (Adventist Health
System/Sunbelt Obligated Group), 5.75% Due 11/15/25.
500,000 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.)
500,000 City of Vero Beach, Florida, Electric Refunding Revenue 2003 at 101 AAA Aaa
Bonds, Series 1993A, 5.375% Due 12/1/21.
----------
$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 % $ 100.92 5.08% 5.11% 5.13%
500-999 50,000-99,999 4.75 100.77 5.08 5.12 5.13
1,000-2,499 100,000-249,999 4.50 100.50 5.10 5.13 5.15
2,500-4,999 250,000-499,999 4.25 100.24 5.11 5.14 5.16
5,000-9,999 500,000-999,999 3.50 99.46 5.15 5.18 5.20
10,000-24,999 1,000,000- 2,499,999 3.00 98.95 5.18 5.21 5.23
25,000-49,999 2,500,000- 4,999,999 2.50 98.44 5.20 5.24 5.26
50,000 and over 5,000,000 and over 2.00 97.94 5.23 5.26 5.28
</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 % $ 100.92 5.09% 5.13% 5.14%
500-999 50,000-99,999 4.75 100.77 5.09 5.13 5.15
1,000-2,499 100,000-249,999 4.50 100.50 5.11 5.15 5.17
2,500-4,999 250,000-499,999 4.25 100.24 5.13 5.17 5.19
5,000-9,999 500,000-999,999 3.50 99.46 5.18 5.23 5.24
10,000-24,999 1,000,000- 2,499,999 3.00 98.95 5.22 5.26 5.28
25,000-49,999 2,500,000- 4,999,999 2.50 98.44 5.26 5.30 5.32
50,000 and over 5,000,000 and over 2.00 97.94 5.29 5.33 5.35
</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 per Year +
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------- --------------
Record Date*.......................... 1/1 2/1 5/1 8/1 11/1
Distribution Date..................... 1/15 2/15 5/15 8/15 11/15
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Distribution Plan............. $ .6256(1) $ 5.1225
-------- $.4266 every month --------
Quarterly Distribution Plan........... $ .6256(1) $ .4293(2) $ 1.2879 $ 1.2879 $ 1.2879 $ 5.1545
Semi-Annual Distribution Plan......... $ .6256(1) $ 1.7244(3) $ 2.5866 $ 5.1735
- ---------------------------------------------------------------------------------------------------------------------------------
</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) 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
4-month distribution; subsequent semi-annual distributions will be regular
6-month distributions.
+ 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 $.01422 per unit per day.
Consequently, on the first Record Date (01/01/96), accrued interest will total
$0.6256 per unit for the 44-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 01/01/96 is $.6256 per unit.
After the first Record Date daily rates of accrual are:
Monthly - $0.01422 Quarterly - $0.01431
Semi-Annual - $0.01437
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.
- --------------------------------------------------------------------------------
836
<PAGE>
- -------------------------------------------------------
AVERAGE PORTFOLIO LIFE The average maturity of portfolio bonds is 28.9 years.
The first bond is scheduled to mature in December, 2021, with the last bond
maturity being October, 2027.
- -------------------------------------------------------
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.
