The family of La-based copper oxide sulfides includes LaCuOS, the prototypical transparent conducting oxide sulfide when doped, as well as La 5 Cu 6 O 4 S 7 a compound with a layered structure analogous to LaCuOS but with a row of O atoms substituted by S atoms in the LaO layer. We propose that La 5 Cu 6 O 4 S 7 is the first instance of an oxide-sulfide intrinsic transparent conductor (i.e., not requiring doping).Such a 1D chain feature in related systems often promotes a Peierls distortion with respect to the equispaced chain whereby adjacent atoms form dimers, a distortion that is expected to lead to the opening of a band gap and the lowering of the total energy, thus to thermodynamic stability. In La 5 Cu 6 O 4 S 7 we find that the configuration with undimerized 1D chains (the α phase) is both metallic and thermodynamically unstable. The fully dimerized, Peierls configurations (the β phase) exhibits an insulating band gap, however it is energetically unstable. The stable structure has chains with a ~66 % degree of dimerization; in this structure the energetically preferred repeating chain motif is one in which two dimers are separated by one S atom, while chain segments with directly adjacent dimers are energetically unfavorable. The stable configuration is metallic with electron depletion in the Cu 2 S 2 layer with respect to the Cu d 10 valence configuration that effectively amounts to creating a hole in the Cu bands that the valence maximum. In the stable partially dimerized phase the intra-band, plasmonic transitions are weak while the onset of the strong inter-band transitions is at around 3 eV which are both properties that enable transparency. In this paper we explain (i) why La 5 Cu 6 O 4 S 7 has an incomplete Peierls distortion, (ii) how the incomplete Peierls distortion in La 5 Cu 6 O 4 S 7 creates the unusual coexistence of transparency and conductivity, producing what appears to be the first oxide-sulphide intrinsic transparent conductor, (iii) discuss the agreement between the predicted and the measured structure.