Are you downsizing the image when saving to pdf?
If you use Image>Image Size and check Scale Styles, that should provide better results before saving as a pdf.
What version of photoshop and operating are you using?
Can you list the steps your using when you save the psd as a pdf?
Windows 10 Pro v1703, Latest version of Photoshop. I simply open the PSD file and choose File > Save As > Photoshop PDF with layers > Preset: Press Quality > Save.
See if flatting the psd first or unchecking layers when saving as a pdf works any better.
Maybe it's a bug in photoshop, although photoshop cs6 and cs4 do the same thing.
Can't flatten it. I need vector type for clear printing.
What about if you use Create Layers to convert the Layer Style to layers leaving the Type layer intact before saving as a pdf.
Layer>Layer Style>Create Layers
Convert the Text Layer with the effects to a Shape layer before saving as a pdf
Type>Convert to Shape
There is something in the layer style in your example Stroke Emboss psd that photoshop can't deal with and to add to that you sometimes can't see there is anything wrong until one opens the saved pdf in acrobat.