The AllowMassMail property controls whether a user can create new mass mail, profiles, and templates.
Config Option > User > User_UserSetting
True: Allows users to create new mass mail, profile, and template.
False: Users are not able to create new mass mail, profile and template. A message saying “you don't have permission to send mass mail, Please contact your administrator" appears while trying to create new mass mail and new profile from mass mail section. Also, a message is displayed as “you don't have permission to setup mass mail templates, Please contact your administrator” while trying to create a new template.
Where the setting is reflected...
Subgroup options of Home, Template and Profile of Mass Mail.