This policy setting allows you to set the "*Bold* and _italic_ with real formatting" option.If you enable this policy setting, ...

This policy setting allows you to set the "*Bold* and _italic_ with real formatting" option.If you enable this policy setting, you will set the the "*Bold* and _italic_ with real formatting" option in File | Options | Proofing | AutoCorrect Options... | AutoFormat.If you disable or do not configure this policy setting, the option is not set.