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HEAT grill to medium-high heat.
BRUSH both sides of steak with oil. Grill 4 to 6 min. on each side or until medium doneness (160ºF). Remove from grill; cover. Let stand 5 min.
MEANWHILE, mix cornstarch and sugar with whisk in medium saucepan. Gradually stir in broth; cook on medium heat 2 min. or until thickened, stirring constantly. Add cream cheese spread and peppercorns; cook and stir 2 to 3 min. or until cream cheese is melted and sauce is well blended.
SLICE steak. Serve topped with sauce.