This is presumably similar to the amenity fund that you get with Pass Plus. If you go to the jetstream portal, you should be able to choose to apply the amenity fund to a travel certificate, untied subscription (lounge access, etc.), premier access, or status nomination.

To use it to buy tickets, you choose travel certificate. Then you can use the cert. to buy a ticket. It's actually kind of a pain, since you usually have to get an agent to use the cert.