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redeemable (adj.)

1610s, from redeem + -able.

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Definitions of redeemable from WordNet

redeemable (adj.)
recoverable upon payment or fulfilling a condition;
redeemable goods in a pawnshop
redeemable (adj.)
able to be converted into ready money or the equivalent;
redeemable stocks and bonds
a redeemable coupon
Synonyms: cashable
redeemable (adj.)
susceptible to improvement or reform;
a redeemable sinner
Synonyms: reformable
From wordnet.princeton.edu