If you edit the assembly parameters directly through the Xcode interface, the value is only DEBUG = 1 (no -). This is just a separation space if you have more than one.
I prefer to use xccongif files to control my build settings, in which case you use the "Based" drop-down list in the lower right corner of the build settings to indicate which xcconfig file to use, and in the xcconfig file use the following example (the example also shows the setting of the icon log level):
GCC_PREPROCESSOR_DEFINITIONS = TTMAXLOGLEVEL=TTLOGLEVEL_INFO DEBUG=1
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