Brush both sides of steak with oil. Grill 4 to 6 min. on each side or until medium doneness (160F).
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.