After saving the life of Sir Arthur Wellesley, Sgt Richard Sharpe is rewarded with the field commission of Lieutenant. His first mission is to go behind enemy lines to Casa Antiga to locate a missing agent, James Rothschild, who carries a banker's draft for badly needed funds for the British army.

Spain 1812 - After victory at Ciudad Rodrigo, Wellesley (now Duke of Wellington) sets his sights on Badajoz. Sharpe is reunited with Teresa and learns that he is the father of a baby girl, but is alarmed to learn that the baby is in Badajoz.

Portugal 1812 - The Spanish village of Adrados has been overtaken by a horde of French, Spanish and British deserters and they have taken two English women hostage, Sarah Dubreton and Lady Isabella Farthingdale. Captain Sharpe is assigned the task of delivering the ransom, much to the disgust of Sir Augustus Farthingdale.