Paragraph.DropCap (Word)

Returns a DropCap object that represents a dropped capital letter for the specified paragraph.

With ActiveDocument.Paragraphs(1).DropCap 
 .FontName = "Arial" 
 .Position = wdDropNormal 
 .LinesToDrop = 3 
 .DistanceFromText = InchesToPoints(0.1) 
End With