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On the Design tab, selectÂ
  Watermark. -
SelectÂ
  Custom Watermark. -
Choose Text watermark, type text in the Text field, change other options as needed, and select OK. Â
Adding a custom watermark isn't currently possible in Word for the web. You can, however, add a custom watermark in the Word desktop app.
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To open the desktop app, at the top of the ribbon, select Editing > Open in Desktop App.
Don't have the desktop app? Try or buy Microsoft 365.
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On the Design tab, selectÂ
  Watermark. -
Choose Text, type text in the Text field, change other options as needed, and select OK.