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it's an item in the store.
it's 1.5 cents per FPP at SN and it's even less (1.3 cents perhaps?) at platinum.
It's not as simple as 'convert my points to cash' though.
It's like buying a giant reload bonus.
You have to earn X number of points AFTER you purchase the cash-for-points thing in the store.
Look around in the store and you'll find it.
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http://www.pokerstars.com/fpp/store/special/
The $1k(SN) is 1.5; the $650 for Plat. is 1.3; Gold's $285 is 1.14 cents/fpp.