Let (ϕi:Gi→K)i∈I be a family of homomorphisms of groups with operators such that, for all i∈I and j∈I with i=j, x∈Gi, y∈Gj, the elements ϕi(x) and ϕj(y) of K commute; there exists one and only one homomorphism of groups with operators Φ of ∏i∈IGi into K such that ϕi=Φ∘ιi for all i∈I. For every element x=(xi)i∈I of ∏i∈IGi, Φ(x)=∏i∈Iϕi(xi).
If Φ and Φ are solutions to the problem, they coincide on ⋃i∈IGi and hence on ∏i∈IGi, whence the uniqueness of Φ. We now show the existence of Φ: for every element x=(xi)i∈I of ∏i∈IGi, let Φ(x)=∏i∈Iϕi(xi) (§ 1, no. 5). Clearly Φ∘ιi=ϕi for all i and Φ commutes with homotheties; the formula Φ(xy)=Φ(x)Φ(y) follows from § 1, no. 5, formula (9).
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.