Finding the load limit for a component?

I'm having difficulties finding the force which is required to make a shear pin break in a weak-link chain.

I have the simulation all up and running and the von mises FOS is coming out at 0.3 when I know the modelled component has been tested to break at this load.

So I guess the question is, how do I know what load will rip the shear pin appart? There's some pretty large deformation shown. Do any points with a FOS below 1 result in failure?

Appologies for the vagueness of the question. It's my first week of work and the first time I've used solidworks in a few years.

SolidworksSimulation