(Adds Reuters instrument code in first paragraph)
LONDON, June 5 (Reuters) - British lender OneSavings Bank has set the offer price for its London initial public offering at 170 pence a share, valuing it at 413 million pounds ($692 million), the business said on Thursday.
The statement confirmed a Reuters report on Wednesday that the lender would price at the bottom of its price range of 170-225 pence a share. The listing will raise gross proceeds of 134 million pounds, OneSavings said, of which the lender will receive 41.5 million pounds. ($1 = 0.5969 British Pounds) (Reporting By Freya Berry)