Terminal to format/initialize external ssd

Here's how you would prep a new drive for the Mac:

Extended Hard Drive Preparation

1. Open Disk Utility in your Utilities folder. If you need to reformat your startup volume, then you must boot from your OS X Installer Disc. After the installer loads select your language and click on the Continue button. When the menu bar appears select Disk Utility from the Installer menu (Utilities menu for Tiger or Leopard.)

2. After DU loads select your hard drive (this is the entry with the mfgr.'s ID and size) from the left side list. Note the SMART status of the drive in DU's status area. If it does not say "Verified" then the drive is failing or has failed and will need replacing. SMART info will not be reported on external drives. Otherwise, click on the Partition tab in the DU main window.

3. Under the Volume Scheme heading set the number of partitions from the drop down menu to one. Set the format type to Mac OS Extended (Journaled.) Click on the Options button, set the partition scheme to GUID (for Intel Macs) or APM (for PPC Macs) then click on the OK button. Click on the Partition button and wait until the process has completed.

4. Select the volume you just created (this is the sub-entry under the drive entry) from the left side list. Click on the Erase tab in the DU main window.

5. Set the format type to Mac OS Extended (Journaled.) Click on the Options button, check the button for Zero Data and click on OK to return to the Erase window.

6. Click on the Erase button. The format process can take up to several hours depending upon the drive size.

Disk Utility is a GUI for the Unix diskutility command. While in the Terminal enter man diskutil to get the documentation pages for the use of the command.

Some SSDs may not work in a Mac. Contact Kingston tech support to find out if the particular model you have is in fact compatible with Macs and OS X.

Bought the same SSD (Kingston V-Series 128 GB notebook bundle) and have the same problem.

Using Disk Utility as suggested by Kappy does not resolve the issue, at least with the provided external USB drive enclosure by Kingston.

Have fired of the same question to Kingston support too, just to make clear that more people have the same issues.
Found the hint on other forums that people which had problems with other SSDs (different manufacturers but similar external USB enclosures) have been successful with the NewerTech Voyager Q enclosure/adaptor.
Ordered one today, will report as soon as I've tried it.

Result!

The NewerTech Voyager Q enclosure/adaptor makes it possible
to partition the Kingston V-Series 128GB SSD via Disk Utility
and 'restore' the image of the original HD (creating a clone) afterwards.

In a nutshell: the external enclosure from Kingston which is part of the 'notebook bundle' doesn't work!

You might be able to resolve this issue with other 3rd party HD/SSD enclosures...

Post Unix and Terminal queries to the Unix forum under OS X Technologies where those mavens frolic.