<PAGE> PAGE 1
000 A000000 04/30/98
000 C000000 0000841057
000 D000000 N
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000 J000000 A
001 A000000 OPPENHEIMER WORLD BOND FUND
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001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
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011 A000001 OPPENHEIMERFUNDS DISTRIBUTOR INC.
011 B000001 8-22992
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10048
011 C040001 0203
012 A000001 OPPENHEIMERFUNDS SERVICES
012 B000001 84-1562
012 C010001 ENGLEWOOD
012 C020001 CO
012 C030001 80112
<PAGE> PAGE 2
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 DENVER
013 B020001 CO
013 B030001 80202
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 49
019 C000000 OPPENHEIMR
020 A000001 PAINE WEBBER, INC.
020 B000001 13-2638166
020 C000001 1068
020 A000002 DEUTSCHE BANK
020 B000002 13-2730828
020 C000002 628
020 A000003 FIRST BOSTON CORP (THE)
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020 C000003 618
020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004 419
020 A000005 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
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020 C000005 254
020 A000006 CAPEL (JAMES), INC.
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020 C000006 112
020 C000007 0
020 C000008 0
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022 A000001 ZION FIRST NATIONAL BANK
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022 B000003 13-5123346
022 C000003 82700
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022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
<PAGE> PAGE 3
022 C000004 49718
022 D000004 7345
022 A000005 PAINEWEBBER, INC.
022 B000005 13-2638166
022 C000005 53802
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022 C000006 29413
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022 B000007 13-2518466
022 C000007 13956
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022 B000008 13-3371860
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022 B000010 13-5674085
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025 D000003 0
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025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
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026 C000000 N
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026 E000000 N
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026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 0
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028 A030000 0
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<PAGE> PAGE 4
028 B010000 0
028 B020000 0
028 B030000 0
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028 C020000 0
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<PAGE> PAGE 5
044 000000 0
045 000000 Y
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048 A020000 0.750
048 B010000 200000
048 B020000 0.720
048 C010000 200000
048 C020000 0.690
048 D010000 200000
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048 J010000 0
048 J020000 0.000
048 K010000 1000000
048 K020000 0.580
049 000000 N
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054 D000000 N
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<PAGE> PAGE 6
058 A000000 N
059 000000 Y
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061 000000 1000
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062 C000000 0.0
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070 D020000 N
070 E010000 Y
070 E020000 Y
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<PAGE> PAGE 7
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
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070 N020000 N
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071 A000000 84452
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<PAGE> PAGE 8
072CC020000 414
072DD010000 2263
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<PAGE> PAGE 9
077 K000000 N
077 L000000 N
077 M000000 N
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077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 85000
081 A000000 Y
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 841057
<NAME> Oppenheimer World Bond Fund- A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 57,739,119
<INVESTMENTS-AT-VALUE> 57,291,559
<RECEIVABLES> 3,973,438
<ASSETS-OTHER> 18,719
<OTHER-ITEMS-ASSETS> 34,271
<TOTAL-ASSETS> 61,317,987
<PAYABLE-FOR-SECURITIES> 5,890,230
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,092,553
<TOTAL-LIABILITIES> 9,982,783
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,039,308
<SHARES-COMMON-STOCK> 6,283,817
<SHARES-COMMON-PRIOR> 6,615,505
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 181,490
<ACCUMULATED-NET-GAINS> (5,144,905)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (377,709)
<NET-ASSETS> 51,333,194
<DIVIDEND-INCOME> 1,113
<INTEREST-INCOME> 2,367,293
<OTHER-INCOME> 0
<EXPENSES-NET> 369,499
<NET-INVESTMENT-INCOME> 1,998,907
<REALIZED-GAINS-CURRENT> (39,834)
<APPREC-INCREASE-CURRENT> (440,727)
<NET-CHANGE-FROM-OPS> 1,518,346
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,263,145
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,000
<NUMBER-OF-SHARES-REDEEMED> 337,688
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,445,716)
<ACCUMULATED-NII-PRIOR> 82,750
<ACCUMULATED-GAINS-PRIOR> (5,105,071)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 175,747
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 369,499
<AVERAGE-NET-ASSETS> 54,125,000
<PER-SHARE-NAV-BEGIN> 8.28
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> 0.34
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.17
<EXPENSE-RATIO> 1.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 841057
<NAME> Oppenheimer World Bond Fund-B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> APR-27-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 57,739,119
<INVESTMENTS-AT-VALUE> 57,291,559
<RECEIVABLES> 3,973,438
<ASSETS-OTHER> 18,719
<OTHER-ITEMS-ASSETS> 34,271
<TOTAL-ASSETS> 61,317,987
<PAYABLE-FOR-SECURITIES> 5,890,230
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,092,553
<TOTAL-LIABILITIES> 9,982,783
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,039,308
<SHARES-COMMON-STOCK> 123
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 181,490
<ACCUMULATED-NET-GAINS> (5,144,905)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (377,709)
<NET-ASSETS> 1,005
<DIVIDEND-INCOME> 1,113
<INTEREST-INCOME> 2,367,293
<OTHER-INCOME> 0
<EXPENSES-NET> 369,499
<NET-INVESTMENT-INCOME> 1,998,907
<REALIZED-GAINS-CURRENT> (39,834)
<APPREC-INCREASE-CURRENT> (440,727)
<NET-CHANGE-FROM-OPS> 1,518,346
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,445,716)
<ACCUMULATED-NII-PRIOR> 82,750
<ACCUMULATED-GAINS-PRIOR> (5,105,071)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 175,747
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 369,499
<AVERAGE-NET-ASSETS> 1,000
<PER-SHARE-NAV-BEGIN> 8.15
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.17
<EXPENSE-RATIO> 3.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 841057
<NAME> Oppenheimer World Bond Fund-C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> APR-27-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 57,739,119
<INVESTMENTS-AT-VALUE> 57,291,559
<RECEIVABLES> 3,973,438
<ASSETS-OTHER> 18,719
<OTHER-ITEMS-ASSETS> 34,271
<TOTAL-ASSETS> 61,317,987
<PAYABLE-FOR-SECURITIES> 5,890,230
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,092,553
<TOTAL-LIABILITIES> 9,982,783
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,039,308
<SHARES-COMMON-STOCK> 123
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 181,490
<ACCUMULATED-NET-GAINS> (5,144,905)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (377,709)
<NET-ASSETS> 1,005
<DIVIDEND-INCOME> 1,113
<INTEREST-INCOME> 2,367,293
<OTHER-INCOME> 0
<EXPENSES-NET> 369,499
<NET-INVESTMENT-INCOME> 1,998,907
<REALIZED-GAINS-CURRENT> (39,834)
<APPREC-INCREASE-CURRENT> (440,727)
<NET-CHANGE-FROM-OPS> 1,518,346
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,445,716)
<ACCUMULATED-NII-PRIOR> 82,750
<ACCUMULATED-GAINS-PRIOR> (5,105,071)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 175,747
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 369,499
<AVERAGE-NET-ASSETS> 1,000
<PER-SHARE-NAV-BEGIN> 8.15
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.17
<EXPENSE-RATIO> 3.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<PAGE>
Shareholder Meeting
On April 16, 1998, a shareholder meeting was held at which the following items
and proposals were approved, as described in the Fund's proxy statement for that
meeting. The following is a report of the votes cast:
<TABLE>
<CAPTION>
Withheld/ Broker
Nominee/Proposal For Against Abstain Total Non-votes
The eleven Trustees identified below were elected:
<S> <C> <C> <C> <C> <C>
Robert G. Galli 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Leon Levy 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Benjamin Lipstein 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Bridget A. Macaskill 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Elizabeth B. Moynihan 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Kenneth A. Randall 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Edward V. Regan 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Russell S. Reynolds, Jr. 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Donald W. Spiro 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Pauline Trigere 5,718,041.621 93,477.091 0 5,811,518.712 726,488
Clayton K. Yeutter 5,718,041.621 93,477.091 0 5,811,518.712 726,488
1. Approval to change the Fund's sub-classification under the Investment
Company Act of 1940 from a closed-end management investment company to an
open-end management investment company (Proposal No.1):
3,104,822.737 377,437.112 161,629.863 3,643,889.712 3,023,591
2. Approval of changes to certain fundamental investment policies and
investment objective (Proposal No. 2):
3,074,656.553 363,822.874 200,813.285 3,639,292.712 3,023,591
3. Approval of the Investment Advisory Agreement between the Fund and
OppenheimerFunds, Inc. (Proposal No. 3):
3,098,702.939 349,632.922 194,553.851 3,642,889.712 3,023,592
4. Approval of a new Service Plan and Agreement with OppenheimerFunds
Distributor, Inc. with respect to Class A shares (Proposal No. 4):
3,119,193.023 334,165.116 189,689.573 3,643,047.712 3,023,593
5. Approval of the Amendment and Restatement of the Fund's Declaration of
Trust (Proposal No. 5):
3,187,109.390 340,936.514 185,204.808 3,713,250.712 3,023,591
6. Ratification of the selection of KPMG Peat Marwick LLP as independent
public accountants and auditors of the Fund for the fiscal year
beginning November 1, 1997 (Proposal No. 6):
5,642,255.184 94,018.902 80,275.626 5,816,549.712 726,488
</TABLE>
<PAGE>
Change from a closed-end fund to an open end fund
At the close of business on April 24, 1998, the Fund converted from a closed-end
investment company to an open-end investment company. The outstanding shares of
the Fund were designated as Class A shares. At that time, the Fund commenced
offering Class B and Class C shares as well. By to an open-end fund,
shareholders now have the ongoing right to redeem their shares at a price based
on the net asset value of the shares rather than a price set in the market.
Shareholders also will have the ability to purchase additional shares at a price
based on the net asset value of the shares plus any applicable sales charge. All
three classes have the same investment portfolio but different expenses. Class A
shares are offered with a front-end sales charge, starting at 5.75%, and reduced
for larger purchases. Class B shares are offered without a front-end sales
charge, but may be subject to a contingent deferred sales charge (starting at 5%
and declining as shares are held longer) if redeemed within 6 years of purchase.
Class C shares are offered without a front-end sales charge, but may be subject
to a contingent deferred sales charge of 1% if redeemed within 12 months of
purchase. There is also an annual asset-based sales charges on Class B and Class
C shares.
<PAGE>
Change in Investment Objective
o Investment Objectives. Prior to becoming an open-end investment company, the
Fund's primary investment objective was to seek high current income consistent
with preservation of capital. Its secondary objective was capital appreciation.
Upon converting to an open-end investment company, the Fund changed its
investment objectives to a primary investment objective of seeking total return,
and a secondary investment objective of seeking income when consistent with
total return.
oBorrowing. Prior to becoming an open-end investment company, as a matter of
fundamental policy, the Fund could borrow up to 10% of its total assets and
invest the borrowed funds. After any such borrowing, as a matter of fundamental
policy, the Fund's total assets, less its liabilities other than borrowings, had
to be equal to at least 300% of all borrowings, as required by the Investment
Company Act of 1940 (the "Investment Company Act"). In addition, subject to the
10% limit, the Fund could borrow to finance repurchases and/or tenders of its
shares and could also borrow for temporary purposes in an amount not exceeding
5% of the value of the Fund's total assets. The Fund also had a fundamental
investment restriction that it could not borrow, except in conformity with the
restrictions stated in its registration statement under "Borrowing".
Upon conversion to an open-end investment company, these various borrowing
policies were deleted, and replaced with the following investment restriction:
o The Fund may borrow money from banks on an unsecured basis to buy
securities, and may borrow for temporary, emergency purposes or under
other unusual circumstances, subject to the limits set forth in the
Investment Company Act.
o Lending. Prior to converting to an open-end fund, the Fund has a fundamental
policy that it could not lend portfolio securities (with certain exceptions).
After conversation to an open end fund, for clarification, this fundamental
investment policy was deleted and replaced with a new fundamental investment
policy that reads as follows:
o The Fund cannot make loans, except that the Fund may purchase debt
securities and enter into repurchase agreements or when-issued, delayed
delivery or similar securities transactions, and may lend its portfolio
securities.
oJoint Securities Trading Account. Prior to converting to an open-end fund,
the Fund had a fundamental investment policy that reads as follows:
o The Fund cannot participate on a joint or joint and several basis in
any securities trading account.
Upon conversation to an open-end investment company, that restriction was
removed.
oHedging. Prior to converting to an open-end investment company, the Fund had
two related fundamental investment policies that pertain to the use of hedging
instruments, as follows:
o The Fund cannot purchase securities on margin, except that the Fund
may make margin deposits in connection with any of the Hedging
Instruments it may use.
o The Fund cannot pledge, hypothecate, mortgage or otherwise encumber
its assets, except to secure permitted borrowings or for the escrow
arrangements contemplated in connection with the use of Hedging
Instruments.
Upon conversation of the fund to an open-end fund these two fundamental policies
were changed to read as follows:
o The Fund cannot purchase securities on margin; however, the Fund may
make margin deposits in connection with any of its other investments.
o The Fund cannot mortgage, pledge or hypothecate the Fund's assets;
for purposes of this policy escrow, collateral and margin arrangements
involved with any of its investments are not considered to involve a
mortgage, hypothecation or pledge.
oCommodities. Prior to converting to an open-end investment company, the Fund
was not permitted to invest in . . . (b) commodities or commodity contracts
(except that the Fund may purchase and sell Hedging Instruments whether or not
they are considered to be a commodity or commodity contract); . . ."
Upon conversation of the fund to an open-end fund that fundamental investment
policy was replaced with a new policy that reads as follows:
o The Fund cannot invest in physical commodities or physical commodity
contracts; however, the Fund may: (i) buy and sell hedging instruments
permitted by any of its other investment policies, and (ii) buy and
sell options, futures, securities or other instruments backed by, or
the investment return from which is linked to changes in the price of,
physical commodities.
