Go to Setup/ Project preferences and select the radio button "Use this
project for new projects". From the dropdown box, select Widescreen PAL (from your timezone you are PAL. although you haven't filled in the rest of your profile)
Now Start a new project .
Hover your mouse over the project name above left of the timeline. What does the tooltip that pops up say?
Now drag you 16:9 camcorder footage to the timeline. Does Studio now generate letterbox bars?