The restriction of the exponential mapping of A^(X) to L^(X) is a bijection of L^(X) onto a closed subgroup of the Magnus group Γ(X).
We write A(X)=A,An(X)=An,A^(X)=A^,Ln(X)=Ln,L^(X)=L^,Γ(X)=Γ. Let B be the algebra A⊗A with the graduation of type N defined by Bn=∑i+j=nAi⊗Aj. Let B^=∏n≥0Bn be the associated complete filtered algebra (Commutative Algebra, Chapter III, § 2, no. 12, Example 1). The coproduct c:A→A⊗A defined in § 3, no. 1, Corollary 1 to Theorem 1 is graded of degree 0 and hence extends by continuity to a homomorphism c^:A^→B^ given by
c^(n≥0∑an)=n≥0∑c(an)for an∈An.
We also define continuous homomorphisms δ′ and δ′′ of A^ into B^ by
δ′(n≥0∑an)=n≥0∑(an⊗1),δ′′(n≥0∑an)=n≥0∑(1⊗an)for an∈An.
By Corollary 2 to Theorem 1 of § 3, no. 1, Ln is the set of an∈An such that c(an)=an⊗1+1⊗an. It follows that L^ is the set of a∈A^ such that
c^(a)=δ′(a)+δ′′(a).
Let Δ be the set of b∈A^ of constant term equal to 1 and satisfying the relation
c^(b)=δ′(b)⋅δ′′(b),
in other words, the set of b=∑n≥0bn such that bn∈An for all n≥0, b0=1 and c(bn)=∑i+j=nbi⊗bj for n≥0. The latter characterization shows that Δ is a closed subset of Γ; as ϵ^, δ′ and δ′′ are ring homomorphisms and every element of δ′(A^) commutes with every element of δ′′(A^), the restrictions to Γ of the mappings c and δ′δ′′ are group homomorphisms and Δ is a subgroup of Γ.
By Proposition 1 of no. 1, the exponential mapping of A^ is a bijection of the set A^+ of elements of A^ with no constant term onto Γ. Let a∈A^+ and b=expa. As ϵ^ is a continuous ring homomorphism,
ϵ^(b)=ϵ^(n≥0∑an/n!)=n≥0∑ϵ^(a)n/n!=expϵ^(a).
The relations
δ′(b)=expδ′(a),δ′′(b)=expδ′′(a)
are proved similarly and, as δ′(a) commutes with δ′′(a) (no. 1, Remark 1),
δ′(b)δ′′(b)=exp(δ′(a)+δ′′(a)).
Therefore a satisfies (3) if and only if b satisfies (4), which proves the theorem.
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.
Nothing.