In short, to use GUID as Primary Key (not recommended in general), set the column data type to uniqueidentifier, and default value of newid(), or better newsequentialid()
CREATE TABLE Product(
ProductID UNIQUEIDENTIFIER PRIMARY KEY DEFAULT (newsequentialid()),
Only set the RowGuid property to Yes if you are using Replication
The setting of RowGuid=No is correct for a GUID pk. The RowGuid is used by SQL Server replication to uniquely identify rows across replicated databases (i.e. you have have two records with the same PK on different servers and when you replicate one database into the other, SQL Server will handle it). So, the RowGuid property of a column is independent from the primary key. Generally, when you use replication and a GUID pk, you can make them the same column.
Another good read - Can Sequential_GUID be the PK?