The fixed-format ALLOC opcode allocates heap storage and sets a basing pointer:
D pBuf S *
D wBuf S 20A BASED(pBuf)
C ALLOC 20 pBuf
C EVAL wBuf = 'Hello'
Factor 2 is the byte length to allocate. The result field is the basing pointer variable. The (E) operation extender enables error trapping via %ERROR/%STATUS (status 00425 for length out of range, 00426 for allocation failure). Alternatively, an ER resulting indicator (columns 73 - 74) can be specified.