The term 'Price of Redemption' can be summed up with the word 'RANSOM', which is a six letter word. RANSOM is a payment made in order to free someone from captivity or to secure the release of something that has been seized. It is usually paid in exchange for the release of a hostage, prisoner, or kidnapped person. In some cases, it is also used to refer to the payment made to secure the return of stolen property.