This syntax works for me. Hope this is what your looking for.
I receive the bounces from the address defined in "Errors-to".
I know you said you tried this and it didn't work but I
just sent a mailing today and received 3 bounced address sent to the email I
provided.
Be sure to replace [xxxxxxx] with your specific information. Obviously not
including the square brackets.

//LS_MAILING JOB ECHO=YES
DISTRIBUTE MAIL-MERGE DBMS=YES FROM=[[log in to unmask]]
PW=[yourListservPassword]
//TO DD *
SELECT * FROM [yourTableName];
/*
//DATA DD *
Date: &*DATE;
From: [[log in to unmask]]
Reply-to: [[log in to unmask]]
Errors-to: [[log in to unmask]]
Subject: SUBJECT
To: &*TO;

This is the email body. Test Test 123
/*


----- Original Message ----- 
From: "Bruno Robichaud" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Thursday, March 23, 2006 1:12 PM
Subject: Re: Bounced Email


> Hey, I'm going to try again to gain a "answer" to my issues. I Want
listserv
> to send the bounced email to another mailbox which I'm going to give him
the
> email address to send to. Now I 'don't want listserv to process the
bounced,
> he can put it in change log if he want to I don't really care I just want
> the bounced send to the email address I provided. Plz people don't tell me
> "Why would not wanted listserv to process the bounced?" I have my reason
:).
> Now I know some of you gave me some way to do it, I tried the Error-to but
> still didn't send it to the address I provided. Can someone can tell or
> re-tell me how to do it so it works?? I'm using Mail-merge distribute job,
I
> provided a sql statement, listserv is going to the DB with a ODBC
connection
> and I'm controlling the table which contain the emails to the people who
are
> Subscribed , I want to be able to parse physical bounced email to get the
> Email address so that's why I want to receive bounced on a mail box
> attributed for that purposed. So can anyone can help once and for all ,
time
> is getting very short here. Thx for your help and patient. :)