redeemable
adj.describing something that can be exchanged for money or a prize. You often see this on coupons or tickets that you can use later.
adj.capable of being exchanged for a specific value, such as cash or goods. Often used in financial contexts to describe securities or instruments that can be converted into cash at a future date.
“The store offers a redeemable coupon for ten dollars.”
“The airline issued a redeemable ticket that allowed passengers to book a flight within the next six months.”
“While the bonds are technically redeemable at par, the company's current financial instability makes it unlikely that investors will see their full value returned in the near term.”
“Ultimately, these are redeemable shortcomings in an otherwise remarkable novel.”
From redeem + -able.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.