Sprinkle top and bottom of filets with salt and pepper.
Heat olive oil in cast iron skillet over medium high heat.
Add the filets and cook about 4-5 minutes per side or until cooked to your liking. Remove from skillet and place on plate covered with foil.
In the same skillet, lower heat to medium and add shallots and garlic. Cook until shallots and garlic soften, about 5 minutes adding extra olive oil if needed.
Add peppercorns to the shallots and continue to cook for 2-4 minutes.
Pour in the bourbon to deglaze the pan, scraping up any brown bits from the bottom of the skillet.
Stir in the beef broth and sugar and continue to cook for about 4 minutes.
Whisk in heavy cream and then add butter until well combined.
If you like your sauce a little thicker, whisk together two tablespoons cornstarch with two tablespoons cold water and whisk into the sauce until smooth and thickened. Continue to cook for a minute or two until the sauce thickens. Remove from the heat to a serving pitcher.
Serve over filets.