Jordan Henderson missed as Atletico Madrid beat Liverpool 5-4 on penalties in the Audi Cup final in Munich.
Keidi Bare gave Diego Simeone's side a first-half lead, heading home from close range past Danny Ward.
Robert Firmino scored from the spot on 83 minutes after Juanfran was adjudged to have fouled Divock Origi.
In the shoot out, nine of the 10 penalties were converted, with Henderson the only player to be denied.
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