Filter bank multicarrier (FBMC) techniques are emerging alternatives to the widely used orthogonal frequency division multiplexing (OFDM) schemes for applications such as machine type communications or cognitive radio. Recently an FBMC scheme based on a sine prototype filter with overlapping factor termed FBMC-PAM has been introduced. It assures an interesting performance, a reduced system latency and is robust to carrier-frequency offset. After presentation of the system model, an analytical expression of the BER of the single-tap sub-channel equalizer for the considered FBMC-PAM system operating in frequency-selective Rayleigh fading channel is obtained and compared with simulation results. Moreover, a performance comparison with an approximate single-tap sub-channel equalizer and with the previously proposed FBMC-PAM-2M, is presented.