JPMorgan Chase & Co. sold $500 million of securities backed by commercial mortgages without aid from a Federal Reserve program to jump-start lending, according to a person familiar with the transaction.

The five-part offering is the third sale of commercial mortgage-backed securities in less than a month after a drought that lasted more than a year, according to data compiled by Bloomberg.

The largest top-rated portion was priced to yield 2.05 percentage points more than benchmark interest rates, said the person, who declined to be identified because the terms are private. JPMorgan's issue is backed by debt on 55 retail properties across the U.S. owned by Oak Brook, Ill.-based Inland Western Retail Real Estate Trust, the person said.

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