RBC prices first high coupon Sonia deal
![RBC_PA_575x375_290720](https://assets.euromoneydigital.com/dims4/default/24f0a20/2147483647/strip/true/crop/575x375+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F4c%2Fd7%2F9576337b38d95e93225a5dc641a7%2Frbc-pa-575x375-290720.jpg)
Royal Bank of Canada (RBC) has become the first issuer to guard against negative rates in the sterling market by structuring a Sonia-linked senior deal with an artificially high coupon.
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