Classic white with a black background in Sony Vegas Pro 12

[Reachground]

I recorded some gameplay that I want to add subtitles to. Since I didn't want to add anything fancy I figured it was a walk in the park. After a few hours of testing and googling it feels far from that. Below you see an example of what is very close to what I want, except that some of the letters are touching the edge of the black background. I used Sony ProType Titler for that effect.

Is there an easy way to to solve this?

I know how to create a background manually but I'm going to have to add 2-300 lines of text and it would take a lot of extra effort for that.