It's a low level model similar to PH10's of that time and shortly before = Peugeot Carbolite frame tubing and punched/pressed steel dropouts. Mind you, a good quality bike from Peugeot but not worth more than maybe about 150/165 bucks in very good fully tuned up for the road condition at most, in most markets (maybe up to even 180 in very hot markets). Which makes it quite a good buy for an excellent ride from the maker!
If it is in very good rideable condition you might offer the guy 100 bucks first. It might just get you over his "lowball threshold" and take it. If he reveals anything wrong with the bike after that, you might want to bargain him down a little then....
Chombi