Start by creating a rounded rectangle using rounded rectangle shape tool.
Double click the layer to open layer style window. Apply settings as shown.
Create a rectangle using rectangular shape tool. Press Ctrl+T. Right Click and select Warp. Adjust the nodes to get the shape as shown.
Fill the rectangle with white color. Rasterize the shape. Ctrl+Click the rounded rectangle layer thumbnail to get the selection. Press Ctrl+Shift+I to inverse the selection and press delete. Reduce the opacity to 80%.
Insert a relevant cutout. Move this layer below the white transparent layer in layer order in layer palette.
Type content as shown below.