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The PreTeXt Guide

Subsection 44.1.6 Watermarks

The text of a watermark is given as the content of the
element. An optional scale factor may be given as a positive rational number with the
attribute. The default scale is 0.5.
In the text itself avoid obscure characters or symbols, and do not use any markup. Keep it simple. When used with output the scharacters \\ will survive in the text to create multiple lines of text in the watermark. This feature is implemented for and HTML output. See Section 26.5 for more detail and an example.