Open Paint Shop Pro

Go to FILE-NEW

Use these settings 

Click OK 

Now select the TEXT TOOL   it doesn't matter about the colour as that will be going. Click in the centre of your new blank canvas and you will see

your text box appear

Type your Text and check the FLOATING and ANTIALIAS boxes

click OK

now you should have your name in the centre of the blank canvas, if not use your mover tool to place it.  DON'T deselect the Marching Ants (the dotted lines)  

Open the layer palette by selecting and right click on the FLOATING LAYER

Select DELETE

  Do NOT deselect the marching ants.

 Now to to EFFECTS -3D- DROP SHADOW

Use these settings

  You can see in the second box what it will look like.

Click OK

Next go to SELECTIONS-SELECT NONE

  you can see the image is too big so we need to crop it. Select 

and place your cursor to the top left of your name, holding down the left mouse button drag it to the bottom right of your name, until you see the box around it.

Now double click inside the box.

 and you should have

Whenever you create a graphic you never know what size its going to be so the easiest way to use your watermark is to make it into a tube so you can resize it easily, 

to do that , go to FILE - EXPORT-PICTURE TUBE

  enter a file name

Click OK.

 Now your tube is in your file .   When inserting a tube onto a graphic  go to your tube tool then go to the  TOOL OPTIONS icon   and you will see the tubes in your folder in the little window

 Scroll around until you find your Watermark, click on it 

 You can use this tag if you wish

and this is how your Watermark will look

 that's it :o)