redeemre·deem /rɪˈdiːm/ verb [transitiveT]FINANCE1to pay off a loan or debtHe intends to redeem the mortgage at the earliest opportunity.
When do you expect to redeem this debt?
2to exchange shares, bonds etc for cashA company will not normally be allowed to redeem its shares during the offer period if its board believes that a takeover offer is imminent.
3to get back something that you pawned (=left with someone when you borrowed money from them), by returning the money borrowed —redeemable adjectiveadjMost of these bonds are redeemable at par, i.e. £100 is payable for each £100 nominal value of stock.