It is true, it doesn't matter if the market tanks. If it does, you still get your initial investment back. Guaranteed by Merrill Lynch. There are at least a dozen of them being traded on the AMEX and NASDAQ. They are called MITTS- Market Index Target Term Securities and created by Merrill Lynch.

You can read all about it here: MITTS: A “Secret” No Risk, Can’t Lose Stock Investment | One World Income

If you have some long term expectations, this could be good for your portfolio.