The accepted answer works well and one can also just use the
If Exists (...) Then ... End If;
syntax in Mysql procedures (if acceptable for circumstance) and it will behave as desired/expected. Here's a link to a more thorough source/description: https://dba.stackexchange.com/questions/99120/if-exists-then-update-else-insert
One problem with the solution by @SnowyR is that it does not really behave like "If Exists" in that the (Select 1 = 1 ...) subquery could return more than one row in some circumstances and so it gives an error. I don't have permissions to respond to that answer directly so I thought I'd mention it here in case it saves someone else the trouble I experienced and so others might know that it is not an equivalent solution to MSSQLServer "if exists"!