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The phrase "are redeemable" is correct and usable in written English.
It can be used when referring to something that can be exchanged or converted for value, such as points, coupons, or rewards.
Example: "The loyalty points you have accumulated are redeemable for discounts on future purchases."
Alternatives: "can be exchanged" or "are convertible."
Dictionary
are redeemable
adjective
Capable of being redeemed; able to be restored or recovered.
synonyms
Exact(52)
It would also continue to allow the distribution of coupons that are redeemable for tobacco products but only if they are redeemed in face-to-face transactions in which the age of the person presenting the coupon is verified.
The cancelled check was redeemed for 15 cents and returned to the pries All cancelled checks are redeemable at that price.
No tokens or vouchers are redeemable for cash.
The bonds are redeemable for new shares of France Télécom.
Participants receive electronic benefits that are redeemable at a variety of food stores.
Because they are redeemable for prizes of up to £10,000.
Similar(8)
We need them to be redeemed or at least to be redeemable.
Rents based on real property were redeemable.
Offer is redeemable only through www.sodastream.co.uk/standard.sodastream.co.uk/standard
Stays will be redeemable from 6 July until 31 August 2009.
The new securities will be redeemable on or after May 15 , 2009
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com