When printing a Microsoft Word document that contains a watermark created within Word, an issue may occur in which some of the watermark text characters do not print. The issue may occur with only certain printer model while other models do not experience the issue at all.

Solutions:

From within Microsoft Word's Printed Watermark dialog box, remove the checkmark in the "Semitransparent" check box.
• For MS Word 2007/2010:
  This is accessed from "Page Layout" tab -> "Watermark" -> "Custom watermark"
• For MS Word 2003:
  This is accessed from "Format" -> "Background" -> "Printed Watermark".

Instead of creating a watermark within Microsoft Word, create the watermark within the printer driver's properties, if this feature is available.