diff --git a/youtube_dl/options.py b/youtube_dl/options.py
index 44dcb1e34..f651337ad 100644
--- a/youtube_dl/options.py
+++ b/youtube_dl/options.py
@@ -87,7 +87,7 @@ def parseOpts(overrideArguments=None):
         for private_opt in ['-p', '--password', '-u', '--username', '--video-password']:
             try:
                 i = opts.index(private_opt)
-                opts[i+1] = '<PRIVATE>'
+                opts[i+1] = 'PRIVATE'
             except ValueError:
                 pass
         return opts