Combine Saba, turbinado sugar, and 1 tablespoon butter in a saucepan. Bring to a simmer over medium-high heat. Stir with a whisk until syrupy. Remove from heat; stir in pepper. Keep warm.
Heat a grill pan over medium heat. Coat figs with cooking spray. Place on grill pan; grill 2 minutes on each side or until lightly charred.
Brush bread with remaining 1 1/2 tablespoons butter. Sprinkle granulated sugar onto a small plate. Dredge bread evenly in sugar. Place bread in pan; grill 15 seconds on each side or until lightly charred, being careful not to scorch. Arrange bread and figs on a platter; drizzle with olive oil. Sprinkle with coarse sea salt.
*Saba is a sweet-tart condiment made from grape must; you can substitute balsamic syrup.
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