Look at the options in
CH&S available here, on DonationCoder, from mouser.
I think you can set up what you want and 'hot-key' it into place:
Clipboard Help+Spell is a text-based clipboard utility with the following features:
* Database stores history of all past text clipboard entries for easy viewing, modification, and search
* Use it for keeping hierarchical notes - search, sort, filter by text, modification date, last view date
* Super easy and super fast search function - or use complex filters if you need them - you'll never have a problem finding a note again!
* Organize your notes and clips any way you want - show them all or view by group or category; view your clips any way you like
* High-quality spellcheck - underlined mistakes; learning spellchecker
* Configurable hotkeys for common functions
* Powerful text formatting options - make your own presets for common functions
* Simple functions for copying and pasting into and out of other applications