1. Type some text. I used: TG using the font "Lucida console" the font color doesnt matter so just pick one.



2. Now go to Blending Options (Right-click on text layer).
Select (and modify) the following:

Dropshadow, color to #4B6B95
Innershadow, color to #304B98
Outerglow, color to #44CAFE
Innerglow, color to #314E9A
Bevel and emboss
Contour, now just double click on the little box and you'll see something like this:



3. Create 2 more points to have a total of 4 points and give them the following input-output values:
point 1: input: 0% output: 0%
point 2: input: 27% output: 4%
point 3: input: 59% output: 56%
point 4: input: 100% output: 99%


You'll see something like this:



4. Select satin, change the color to #60ACFF and change the contour to "ring".
And finally select color overlay and change the color to #B7E1F7.