Try this 1
1) First check if there is any format utility available in your pen drive manufacture's
website. Try formatting with that utility.
2) Click on the below link and follow the instructions
3) If the problem still exists then click on the below hyperlink "HDDLLF" and
Connect your pen drive --> Open the downloaded application --> Click on
"Continue for free" --> Select your pen drive from the list --> Click on "Continue".
After completion of the process try formatting your pen drive from the Windows.