A system and a method for coding by principal component analysis (PCA) of a multi-channel audio signal comprising the following steps: decomposing at least two channels (L, R) of said audio signal into a plurality of frequency sub-bands (I(b1), . . . , I(bN), r(b1), . . . , r(bN)), calculating at least one transformation parameter (θ(b1), . . . , θ(bN)) as a function of at least some of said plurality of frequency sub-bands, transforming at least some of said plurality of frequency sub-bands into a plurality of frequency sub-components as a function of said at least one transformation parameter (θ(b1), . . . , θ(bN)), said plurality of frequency sub-components comprising principal frequency sub-components (CP(b1), . . . , CP(bN)), combining at least some of said principal frequency sub-components (CP(b1), . . . , CP(bN)) in order to form a principal component (CP), and defining a coded audio signal (SC) representing said multi-channel audio signal (C1, . . . , CM), said coded audio signal (SC) comprising said principal component (CP) and said at least one transformation parameter (θ(b1), . . . , θ(bN)).