Possible Spoiler
Saemon will take you to the Sahugin City (after being boarded by Githyanki looking for the Silver Blade he's given you.) You end up just south of Davy Jone's Locker and at the gates of the city. Many quests, cash and prizes await you there, as well as the entrance to the Underdark. Or you can skip this (not recommended) and go straight to the Underdark via the portal in Spellhold. You will need Jon's Key to gain access to the portal.
Hope this helps.
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