Which webhook event will call if subscription payment failed for paypal

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I'm integrating PayPal payment gateway into my application. I'm using the PayPal REST API's. I'm able to authorize the request and webhook. Also, API and webhooks are working fine for me. The only thing about I'm little confused that which event and sequences of events will be if subscription payment failed?

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For subscriptions, the only event you need to act on is PAYMENT.SALE.COMPLETED. When you receive this event, update the profile's valid date through the next cycle (e.g. 1 month in the future). If you don't receive a new PAYMENT.SALE.COMPLETED in time, the subscription has lapsed.

When creating the subscription you can set a custom_id which is useful for reconcilliation.