Yeah....It can be formatted...
And the way to make usb bootable,there certainly is a way which worked for me.Let me tell you,and,you'll need atleast a 4GB USB drive.
1)Plug in the USB
2)Run Command prompt with administrator rights.
3)Inside the DOS,type DISKPART.
4)Type LIST DISK.you'll see the drives listed,and note the drive number of your USB.Say,for example Disk 1 or Disk 2.
5)Assuming that yours is Disk 1,type all the below commands one by one
SELECT DISK 1
CLEAN
CREATE PARTITION PRIMARY
SELECT PARTITION 1
ACTIVE
FORMAT FS=NTFS quick
Once format finishes,type these
ASSIGN
EXIT
Don't close the DOS now.
6)Mount the OS iso file,or insert the Disc.I assume your drive letter is D,and USB drive letter is H
7) Type in the DOS,
D: CD BOOT (Note the space after D: )
Then type,
CD BOOT
Next type,
BOOTSECT.EXE /NT60 H: (Note the space before '/' )
where,D is your DVD drive letter and H is the USB drive letter.
Once these are done,exit the DOS,and copy all the files from the Windows OS Disc to the USB. You have your bootable USB,which you can use for windows installation after making the Removable media the first boot device inside BIOS.