are you 100% sure it's the chain? I'm asking because sometimes it's very difficult to identify the exact cause of a noise coming from the bike.
It could be a rear derailleur adjustment issue. But since it only happens on the downstroke I would double check the chainring bolts. They could be lose, causing the chainrings to move while you apply force.
If it is a tri bike with bar end shifters I'd suggest taking it out of "click click" index shifting mode so you can fine tune the tension on the rear derailleur cable. See if that will take care of it. If it does, it's just an adjustment on the RD. Otherwise you'll know that this is not the issue.
How long ago did you get your new bike. Maybe your cables just stretched and you need a quick adjustment. Never adjust the index screw if shifting worked fine initially with the same wheel/casette. It's most likely just a cable tension problem.
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