The war of Spanish succession ends leaving thousands of Caribbean privateers unemployed, when the wreck of a treasure fleet creates new opportunities.

Tensions rise between Benjamin Hornigold and Henry Jennings; their rivalry takes a new direction when Hornigold declares Nassau a pirate republic.

Hornigold's crew deposes him for his refusal to attack English ships; but one man, Edward Thatch, remains loyal. Pirate raids on British slaves provokes outrage.

English authorities tap Woodes Rogers to put a stop to the pirate attacks. Black Sam Bellamy suffers a cruel fate at the height of his success.

Rogers' campaign begins with the offer of a pardon, which Hornigold and Jennings accept; but not all Nassau pirates agree.

Nassau comes under the control of Rogers and the era of the pirate kingdom comes to a bloody end.