Heat gas or charcoal grill. In small bowl, combine butter, bacon, chives and ground red pepper; mix well. Refrigerate until serving time.
Sprinkle both sides of each steak with garlic-pepper blend and salt.
When grill is heated, place steaks on gas grill over medium heat or on charcoal grill 4 to 6 inches from medium coals. Cook 10 to 15 minutes or until of desired doneness, turning once or twice. Serve steaks topped with butter mixture.