Re-deem'a-ble1, a.
a. 1. Capable of being redeemed; admitting redemption.
Sense 2. Purchasable or payable in gold and silver, and capable of being thus brought into the possession of government or the original promisor.
The capital of the debt of the United States may be considered in the light of an annuity redeemable at the pleasure of the government. Hamilton.