About using vector masks on vector layers...

Hi,

Not very experienced with vector shapes, but I'll try to ask this as succinctly as I can.

• I have a layer with a green vector rectangle on it that I drew with the rectangle tool set to "SHAPE".
• I have another Type layer above it with the word "Hi" in it.

How do I poke a "Hi"-shaped hole into the rectangle surface (so the end result is a green rectangle with a transparent "Hi" in the middle)? Keeping in mind both the rectangle and the "Hi" are vector, and should retain that quality in the end.

At first, I thought a vector mask was the solution. But then wondered if I couldn't just make a path from the Type layer and paste that directly into the rectangle path as a "negative" to accomplish the same thing.

Can one of you Photoshop Jedis walk me through the steps to have a transparent "Hi" inside a green rectangle, while retaining all the vector info?

Thanks!

PS: Before anyone flames me over the topic I selected to pair with this post, here were my options. Site wasn't letting me post without choosing one. (And as usual, they're all irrelevant.)