redeemable
adjective
uk/rɪˈdiːməbl/ us COMMERCE
used to show how and when coupons (= pieces of paper used to buy goods at a lower price), points from a credit card, etc. can be used:
The program provides those eligible with $20 worth of vouchers redeemable at farmers' markets for locally grown produce.
redeemable against sth Every £100 spent earns 10 Plus Points redeemable against discounts on goods and services.
redeemable as sth You receive one rewards point for each dollar spent, and points are redeemable as air miles, hotel accommodation, car rental, and some restaurant meals.
STOCK MARKET, FINANCE
relating to bonds, shares, etc. that can be exchanged for cash at a particular time:
redeemable at sth The shares are redeemable at $21.05 each.