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1. In a 3-quart saucepan melt butter. Add onion and cook, covered, over medium-low heat for 13 to 15 minutes or until tender, stirring occasionally.
2. Uncover saucepan; cook and stir onion over medium-high heat about 10 minutes more or until onion is golden. Stir in broth, sherry, Worcestershire sauce, and pepper. Bring to boiling; reduce heat. Simmer, covered, for 15 minutes.
3. Meanwhile, preheat broiler. Line a baking sheet with foil; arrange bread slices on baking sheet. Broil 4 to 5 inches from heat for 2 to 3 minutes or until toasted, turning once. Sprinkle with cheese. Broil for 2 to 3 minutes more or until cheese melts and is light brown.
4. To serve, ladle soup into bowls. Top each serving with a bread slice. Makes 4 main-dish servings.