diff --git a/mercurial/helptext/config.txt b/mercurial/helptext/config.txt
--- a/mercurial/helptext/config.txt
+++ b/mercurial/helptext/config.txt
@@ -72,7 +72,7 @@
   - ``%USERPROFILE%\Mercurial.ini`` (per-user)
   - ``%HOME%\.hgrc`` (per-user)
   - ``%HOME%\Mercurial.ini`` (per-user)
-  - ``HKEY_LOCAL_MACHINE\SOFTWARE\Mercurial`` (per-installation)
+  - ``HKEY_LOCAL_MACHINE\SOFTWARE\Mercurial`` (per-system)
   - ``<install-dir>\hgrc.d\*.rc`` (per-installation)
   - ``<install-dir>\Mercurial.ini`` (per-installation)
   - ``%PROGRAMDATA%\Mercurial\hgrc`` (per-system)